Bye, bye house - MoneySense

Bye, bye house

Check out the infographics on eroding housing affordability and global salary increases.

  • The dream of home ownership is getting farther out-of-reach for many Canadians, according to a new RBC Economics report. Housing affordability for the benchmark detached bungalow worsened in the second quarter to 43.4% of pre-tax household income. In the heated markets of Vancouver and Toronto, keys to a standard home will cost you 91% and 54% of pre-tax income. Click on the infographic to see how other cities compare:
  • Leveraging, or borrowing money only to turn around and invest it, can be lucrative but it’s also risky. Thankfully, Jim  Yih over at Retire Happy Blog has outlined what you need to know in his Online Guide to Leverage.
  • Last week we told you Canadians can expect pay raises to average 3% this year. Here’s how Canada stacks up to the rest of the world, according to Mercer: