As per Royal Bank affordability of housing in Canada hit at worst level since year 1990 in 2nd quarter during this year.
According to RBC Economics reports, housing affordability at national level measures deteriorated for 8th straight quarter. A Real Estate Retirement Plan is available which is best Investment and Lifestyle Solution for Canadians.
Area in Toronto hit hardest where RBC affordability declined most and hit lowest level that measured in city.
RBC also said that actions by Ontario government in April cool down housing market that didn’t have immediate impact on the provincial prices of homes in second quarter. A Complete Taxation Guide to Canadian Real Estate Investment is also available which tells that How to Maximize Your Real Estate Portfolio and Minimize Tax.
Still, least affordable place is to buy a home remains at the Vancouver area, where the affordability worsened after 2 quarters of improvement.
RBC said that outside of Ontario and British Columbia, affordability remains stable.