Mortgage website Which Mortgage conducted a survey of Canadian home owners asking about their main worries as home owners. Declining affordability and home prices are the main concerns.
Thirty-eight per cent of survey takers are nervous about the Canadian housing markets overall. 40 per cent are concerned about their local market.
People are also concerned that the value of property will decline. Suggesting people believe experts who are saying that the market is headed for a downturn.
RBC Economics recently reported that Canada’s overall affordability measure stood at 44.2 per cent, the most stressed level since late 2008. With the affordability measure, the lower the number the better.
These are the results of an online survey conducted between February 20 and March 21, 2017. 240 people responded from Ontario, Quebec, British Columbia, Alberta, Newfoundland, Saskatchewan, Manitoba, and New Brunswick.