Sentences with phrase «affordability measures»

Twenty years ago, a 100 basis points increase in mortgage rates would have caused a deterioration of our national affordability measure by 3.5 percentage points.

Aggregate housing affordability measure for Toronto hit its most stressed level in a quarter century

RBC's housing affordability measure for the benchmark detached bungalow in Canada's largest cities in the second quarter of 2014 is as follows: Vancouver 81.8 (down 0.3 percentage points from the previous quarter); Toronto 55.9 (down 0.2 percentage points); Montreal 37.3 (down 1.6 percentage points); Ottawa 36.0 (down 0.4 percentage points); Calgary 33.6 (down 0.8 percentage points); Edmonton 31.7 (down 1.1 percentage points).

Some people say Canadian house prices are about to experience a U.S. - style crash, even though indicators like the RBC Housing Affordability Measures show overvaluation is modest (except for a few areas, like Vancouver).

The RBC housing affordability measure captures the proportion of pre-tax household income that would be needed to service the costs of owning a specified category of home at current market values (a fall in the measure represents an improvement in affordability).

TORONTO — The Ontario government is expected to unveil a suite of housing affordability measures in the coming days aimed at cooling soaring home prices in the Greater Toronto Area.

«Owning a home at market price in Canada still took an abnormally large bite out of household income, but RBC's aggregate affordability measure was unchanged in the fourth quarter after a string of six quarterly increases,» said Craig Wright, senior vice-president and chief economist, RBC.

At this juncture the housing bears may argue that it is imprudent to use RBC affordability measures given interest rates are low and most likely to go up.

I've mentioned, for example, the RBC Housing Affordability Measures indicator.

In Calgary, RBC's second - quarter affordability measure was well below the long - term average for the area.

During the second quarter of 2014, affordability measures at the national level fell by 0.9 percentage points to 48.0 per cent for two - storey homes, by 0.6 percentage points to 42.5 per cent for detached bungalows and by 0.4 percentage points to 27.4 per cent for condominium apartments.

RBC's affordability measures fell between 0.5 and 1.5 percentage points but remained close to long - run averages, suggesting that affordability likely plays a neutral role in home buying decisions in the province.

And, despite historically low interest rates, affordability measures such as the RBC Housing Affordability Index, which measures home ownership costs as a percentage of household income, remain stubbornly high.

The eight - member conference, who rolled out their Changing New York agenda in January, highlighted other key achievements they fought for including raised wages for direct care workers, a record investment in education funding and college affordability measures.

The Bank of Canada's recently revamped Housing Affordability Index says «yes,» while the more widely - known RBC Housing Affordability Measures says «no,» claiming that home ownership costs now exceed the long - term average.

The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 1) Act 2017External Link and First Home Super Saver Tax Act 2017External Link became law on 13 December 2017.

«Affordability measures published by the National Association of REALTORS ® show that a family with a median income could comfortably afford a mortgage for a median - priced home.»

Other key elements of the agreement call for redefining housing affordability measures so that they include transportation costs, redeveloping underutilized sites and performing research to develop a way to evaluate the livability of communities.

Homeownership has moved further out of reach, with affordability measured in the ATTOM Data Solutions Q4 2016 Home Affordability Index falling steeply in the fourth quarter to its lowest level since 2008.

In Alberta, the biggest cumulative drop in the history of RBC affordability measures deepened further in the second quarter, falling to levels not seen since before the housing boom.

RBC's affordability measures for B.C. fell between 0.9 and 2.0 percentage points.

The RBC Housing Affordability Measure shows the proportion of median pre-tax household income required to pay the principal and interest on a mortgage, property taxes and utilities.

The RBC Housing Affordability measure captures the proportion of pre-tax household income needed to service the costs of owning a home.

A spokeswoman for Premier Kathleen Wynne says the tax is one of the measures being examined as the province readies to unveil a much - anticipated package of housing affordability measures.

Some housing bears are making a mistake by disregarding the RBC Housing Affordability Measures.

Side note: The affordability measures from Royal Bank of Canada show housing to be less affordable but they use posted mortgage rates whereas the Bank of Canada uses discounted mortgage rates.»

Two exceptions were Calgary, where affordability was better than usual, and Victoria, where the affordability measure was more strained.

There were minor changes within housing categories at the national level: the affordability measure for single - detached homes fell marginally to 49.2 per cent while the measure for condominium apartments edged up to 35.9 per cent.

The RBC Housing Affordability measure, which has been compiled since 1985, is based on the calculated costs of owning a detached bungalow (a reasonable property benchmark for the housing market in Canada) at market value.

At the same time, RBC's affordability measures for Saskatchewan fell between 1.3 and 0.8 percentage points, and stood close to their historical averages.

On the personal income housing affordability measure, Australia ranks fourth behind France (34), the Netherlands (33) and Canada (32) while on a rents measure, Australia ranks third behind Hong Kong (81) and Singapore (57).

Standard & Poor's Ratings Services said the capital plan «stays within all of New York's affordability measures.

Affordability measures are included in bids The City Council - adopted resource plan, which also projects the construction of a 500 - MW natural gas plant, envisions that Austin Energy will acquire the solar energy by 2017 if the power is «available and affordable.»

The three Oakland housing affordability measures our Teacher Advisory Group members wrote about last week all passed with over 70 % of the vote!

Outside of the two hottest markets, RBC's affordability measure is generally close to the historical average, and recent trends have been either stable or improving slightly.

TORONTO — Ontario Premier Kathleen Wynne says her government will introduce a package of housing affordability measures «very soon» that she believes will have a swift impact on the hot Toronto - area housing market.

Currently the city of Calgary also happens to be the only Canadian housing market where long term averages are greater than affordability measures.

Still, the affordability measure has more relevance to newer home buyers since the vast majority of Canadians will have bought their homes in the past, when prices were lower.

In Ontario as a whole, the affordability measure of 44.9 per cent for bungalows and 51.0 for two - storey homes represented a 24 - year high.

All affordability measures are now below historic averages, says the report, indicating that homeownership costs are at attractive levels in the province.

Affordability measures have declined noticeably since early last year and now stand below long - term averages.