Homeownership costs in Canada are lower for the second consecutive quarter in 2012!!
Good news for prospective buyers in Canada as home-ownership costs continued to fall for the second consecutive quarter in all housing types across the country, according to the latest RBC Economics Research report.
Housing affordability, measured as a ratio of housing cost to pre-tax monthly income, has improved mildly nationwide in the fourth quarter of 2012! This improvement was supported mainly by lower interest rates and small decline in prices.
In Alberta, the RBC affordability measure was slightly better in all three housing categories! It fell by 0.2 points for both detached bungalows and two-storey homes, and 0.1 percentage points for condominium…