Canada’s 10 most affordable markets for single home buyers
The past year hasn’t been easy for prospective home buyers. Despite some recent year-over-year price softening in the nation’s hottest markets, the national mortgage stress test, combined with various policies at provincial levels, effectively took a bite out of purchasing power for all Canadians.
This is especially acute for single home purchasers; not only does having two incomes boost affordability, it helps satisfy the income and debt servicing requirements mandated by the aforementioned stress test. Those trying to get onto the property ladder solo may have long heard the narrative that it’s next to impossible to do so given these new requirements.