HOW MUCH MORE INCOME DO YOU NEED TO AFFORD A HOME IN CANADA?
Aug 2, 2022
Despite decreasing home prices, Canadians now need to earn more income to afford a home. This is due to rising interest rates and its impact on the stress test.
Homebuyers now must earn between $8,660 – $35,760 more in additional annual income to buy a home in June 2022 compared to March 2022 (www.ratehub.ca).