Making Money Minute with Ron Hiebert - Home Affordability
Canada has a housing affordability crisis. Thankfully it only involves about 30% of the population and is focussed in two main areas - Greater Vancouver and Greater Toronto. In Vancouver it takes 89% of a households income to cover home ownership costs. In Toronto that figure is 65%. Beyond this tiny geographic area there are plenty of places to live in Canada where the job market is solid and homeownership costs are reasonable. In Montreal home ownership costs average 49% of household income, in Ottawa 44%, in Calgary 41% and in Edmonton 32%. A simple solution to home affordability, is to move to where the bargains are. For more information listen to our Making Money Podcast with Ron Hiebert and Graham Hicks at letsmakemoney.ca or CFCW.com
