Canadian Households Now Need Up To 34 Years Of Savings For A Downpayment

Author: Andre Ouimet - Mortgage Agent | | Categories: First Time Home Buyer Mortgage , Mortgage Agent

The first hurdle to buying a home in Canada is getting much higher – saving for a downpayment. A National Bank of Canada (NBC) analysis shows it took a record number of months to save a downpayment in Q4 2020. Households need to save for the longest period in history, passing even the late 1980s bubble. The national record is still just a fraction of what’s needed in Toronto and Vancouver.

Read More

Original Article Source Credits:   Better Dwelling ,

Article Written By:  Stephen Punwasi

Original Article Posted on:  

Link to Original Article: