Affording a bungalow or 2-storey home gets harder in Hamilton: RBC
‘Clearly, owning a single-detached home in Ontario at market prices has become a stretch’
By Kelly Bennett, CBC News Posted: Sep 01, 2015
RBC said condo affordability is stable in Hamilton and overall in Ontario, while affordability dropped for detached bungalows and two-storey houses. (Richard Buchan/Canadian Press )
Housing in Hamilton is becoming less affordable for potential owners of bungalows and two-storey houses, but condo affordability remains relatively stable, according to new numbers released Monday in a quarterly report from RBC.
The trend matches the overall trend in Ontario, according to the report. The report also shows Hamilton heavily tilted toward a “seller’s” market.
“Clearly, owning a single-detached home in Ontario at market prices has become a stretch for a typical household in key parts of the province such as Toronto,” RBC economists wrote about the affordability trend.
“On the other hand, owing a condo apartment still appears to be within reach.” (click on text to check current listings of condos in Hamilton. selected by Mark Pniewski -REALTOR.
By Kelly Bennett, CBC News Posted: Sep 01, 2015
