Seeing the Forest through the Trees…
As the leaves turn and fall advances, our market is also turning and falling. Not the temperature of the air, but affordability, is turning the colour of our real estate market. A study released by RBC Economics stated that “ownership costs – the proportion of median pre-tax household income required to service the cost of mortgage payments, property taxes and utilities – for a single-family bungalow in this city in the second quarter hit 50.5 percent of household income.”
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