Burden of home ownership ‘near all-time worst levels’ across Canada, new RBC report suggests
Across Canada, the burden of home ownership costs is “near all-time worst levels,” according to a new RBC report, which warns of little relief on the horizon short of a housing crash or unexpected change in monetary policy.
The report, written by RBC assistant chief economist Robert Hogue and published Thursday, found high mortgage rates continue to negatively impact affordability, despite a cooling market and growing household income.
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Credit: Burden of home ownership ‘near all-time worst levels’ across Canada, new RBC report suggests
