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Sunday, December 15, 2013

Home affordability takes a hit in Canada, RBC says

OTTAWA -- Higher prices and an increase in mortgage rates have made home affordability more of a problem for the average Canadian family, says a new report from the Royal Bank of Canada.
RBC's latest research on the portion of average household income needed to maintain a home shows that affordability deteriorated over the summer, the second consecutive drop in as many quarters.

Canada's real estate market most overvalued in the world?! Really?

Article from CBC
Real estate prices in Canada are the most overvalued in the world, according to a new study from Deutsche Bank, which estimates homes in the country are valued 60 per cent too high.
Some economists here have crunched their own numbers and come up with results similar to those of the German bank.