Housing affordability across the country

Housing affordability has been the talk of the nation in recent years, especially as tighter mortgage regulations and higher borrowing costs have started to impact housing markets across the country.
A recent report by RBC Economic Research indicates that Calgary’s housing market isn’t out of reach for many potential homebuyers, especially when compared to the Vancouver and Toronto markets, as well as the Canadian average.

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Compare and contrast

How Calgary’s housing market stacks up against other major centres

When it comes to the housing market and the availability of affordable options, people often lose sight of the big picture. Instead of obsessing over the minute details of the market in any one particular city, it can be helpful to take a step back and examine things in a broader context to provide points of comparison. This dose of perspective helps one to remember that while $400,000 might seem like a lot to ask for a detached home in one city, in another major metropolitan area, people might be hard pressed to find a home for less than twice that amount. (more…)

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