Tag Archive for Tag: affordability erosion

Tag: affordability erosion Vancouver’s Housing Market is Gloomy – Yet Unaffordable For Household Incomes Of $120,000 Yearly

  Vancouver’s Housing Market is Gloomy – Yet Unaffordable For Household Incomes Of $120,000 Yearly   The housing numbers out of Vancouver, once among the world’s hottest real estate markets, are getting more dismal with each passing month.   Sales in April, 2019 were the lowest in 24 years for a month that typically kicks off the busy spring homebuying season. Benchmark prices are down 8.7 per cent from their peak in mid-2018 and the number of homes sitting on the market has ballooned by nearly half, according to the Real Estate Board of Greater Vancouver.   Yet those awaiting

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Tag: affordability erosion In Toronto stepping up from Renting To Buying A Condo Is Getting Harder

    In Toronto stepping up from Renting To Buying A Condo Is Getting Harder     Runaway price growth for single-family homes is a thing of the past in Toronto and Vancouver today, thanks to rising interest rates and tougher mortgage rules. But with prices still high, buyers have turned to other options. Or really the one other option that exists in buying the condos.   “Trouble is, this stronger demand for condos resulted in sharper price gains and affordability erosion,” Royal Bank of Canada economists Craig Wright and Robert Hogue wrote in their latest affordability report, released on

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