Canadian Households Now Need Up To 34 Years Of Savings For A Downpayment
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.
Original Article Source Credits: Better Dwelling , https://betterdwelling.com/
Article Written By: Stephen Punwasi
Original Article Posted on:
Link to Original Article: https://betterdwelling.com/canadian-households-now-need-up-to-34-years-of-savings-for-a-downpayment/