Here's the Toronto AREA (emphasis mine) part of RBC's Housing Market Affordability figures, just released. As RBC notes, pretty steady since 2017 (except condos rising).
Aggregate: 50.2
Single Family Detached: 58.0
Condo apt: 43.3
#affordability /1
Aggregate: 50.2
Single Family Detached: 58.0
Condo apt: 43.3
#affordability /1
Report says "The odds of a material improvement are low in the period ahead. Current trends—the steady recovery in market activity, drawdown in inventories and gradual heating up of property values—in fact, argue for further slight deterioration." /2
Number is the proportion of median pre-tax household income required to service the cost of mortgage payments (principal and interest) + property taxes + utilities based on the AVG market price. Assumes 25% down at 5-year fixed with 25 year amort. /3
• • •
Missing some Tweet in this thread? You can try to
force a refresh
