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Canada’s housing affordability rises in 3rd quarter

Posted on 23 November 2012

Falling home prices and an uptick in household income made Canadian home ownership slightly more affordable in the third quarter, but the longer-term trend is largely unchanged, according to a report by RBC Economics released on Thursday.
RBC, Canada’s largest bank and a huge mortgage lender, measured affordability as the percentage of monthly pre-tax income for a household needed to cover the typical costs of owning a home, including mortgage payments, utilities and property taxes………………………………………..Full Article: Source


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