
RBC housing affordability


As homeownership costs hit a new high, RBC predicts affordability challenges for years to come
April 3, 2024
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Housing affordability in most major markets continued to worsen in the fourth quarter despite a slight easing of home prices.

Despite minor improvement, housing affordability remains near all-time worst level: RBC
October 2, 2023
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Despite a rise in average home prices earlier in the year, strong income gains were enough to improve affordability in the second quarter, albeit only slightly.

Housing affordability eased slightly in Q1, but “incredibly challenging” conditions persist: RBC
July 4, 2023
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The Bank of Canada’s temporary rate pause in the first half of the year helped ease affordability in the first quarter, but only nominally.

A $200,000+ income is now needed to qualify for an average mortgage in Toronto & Vancouver
December 20, 2022
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High home prices and rising interest rates over the course of 2022 have made it significantly harder for buyers to qualify for the average mortgage, driving RBC’s affordability measure to its worst-ever level.
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