This model boosts savings by encouraging wage constraint and other mechanisms that slow growth in household income relative to overall growth. (carnegieendowment.org)
But while deteriorating affordability itself is concerning, especially as we look ahead toward even higher rates, the core trend driving it is arguably even more troubling — and it's happening now: Growth in mortgage payments is currently outpacing growth in household incomes. (zillow.com)
Canada's housing affordability «mildly deteriorated» in the fourth quarter of 2005 due to relatively weak growth in household income, says the latest Housing Affordability Index released by RBC Economics. (remonline.com)