Sentences with phrase «time the housing affordability»

«This is the first time the housing affordability index has broken the 200 mark, meaning the typical family has roughly double the income needed to purchase a median - priced home,» says Moe Veissi, 2012 NAR president.

«This is the first time the housing affordability index has broken the two hundred mark, meaning the typical family has roughly double the income needed to purchase a median - priced home,» he said.

Not exact matches

2017.09.29 Housing affordability relief still elusive in Canada in the second quarter as ownership costs continued to rise in Toronto: RBC Economics Becoming a home owner in Canada is less affordable now than at any time since 1990, according to the latest Housing Trends and Affordability Report issued today by RBC Economicaffordability relief still elusive in Canada in the second quarter as ownership costs continued to rise in Toronto: RBC Economics Becoming a home owner in Canada is less affordable now than at any time since 1990, according to the latest Housing Trends and Affordability Report issued today by RBC EconomicAffordability Report issued today by RBC Economics Research...

«The last time affordability in Canada's largest city was this poor, in 1990, the housing market subsequently fell into a deep and prolonged slump.»

2018.04.05 Toronto sees short - term affordability relief for homebuyers: RBC Economics Housing affordability improved for the first time in more than two years in the fourth quarter of 2017 thanks to a drop in Toronto...

If the Fed hikes three more times (as planned), higher rates could create additional headwinds for housing with diminished affordability.

That kind of depreciation is generally not sustainable over a long period of time, because it creates affordability issues within the housing market.

When home prices and mortgage rates rise at the same time, it greatly reduces housing affordability.

Over time, this kind of economic mismatch can lead to housing affordability problems.

The Commerce Department has imposed tariffs averaging 20 % on Canadian lumber shipments into the U.S. NAHB believes the tariffs are harming housing affordability, home builders and consumers by artificially inflating lumber prices, which are running at an all - time high.

On the other hand, a spike in interest rates could hurt housing affordability for entry - level buyers at a time when the supply of starter homes has been suppressed.

In addition, families can deal with housing affordability challenges by living with one less car, and productive and busy people can save time by having a fast and reliable alternative to sitting in traffic.»

By building and operating an excellent public transit system, employers can access a wider pool of employees, employees can access more job opportunities, families can deal with housing affordability challenges by living with one less car, and productive and busy people can save time by having a fast and reliable alternative to sitting in traffic.

This kind of trend leads to housing affordability issues over time.

Markets that RealtyTrac found have once again entered housing bubbles all have higher median prices and less affordability than they did the last time local property values peaked.

Also at 12:45 p.m., Rep. Sean Patrick Maloney will join a first - time homeowner and housing experts to announce legislation to help middle class families afford rising housing costs amid a national rental affordability crisis, home of Taylor Van Dyck, 33 Ontario Ave., Middletown.

After meeting several times with the group, the board's housing and land use committee raised concerns about the project, including issues with traffic, affordability levels and the buildings» design.

When home prices and mortgage rates rise at the same time, it greatly reduces housing affordability.

As housing affordability recedes in the rearview mirror of Canada's fast moving real estate market, it's time to look at different housing ownership options.

«Politicians are tempted to help first - time homebuyers enter the market, but low down payments may be part of the problem, adding to affordability pressures and macro-economic vulnerabilities,» said Evan Siddall, president and CEO of Canada Mortgage and Housing Corp..

However, the truth is that housing affordability is better today than at almost any time in our history.

There is a lot of discussion about the current state of housing affordability for both first - time and move - up buyers, and much of the narrative is tarnished with a negative slant.

It will probably surprise no one that the bottom spot for both housing costs and affordability (the amount of time it takes to buy a home) went to the city of Vancouver, where the average home rings in at a shocking $ 857,400.

Sousa will outline Ontario's plan to address housing affordability in next week's fall economic statement, but he wouldn't say if he plans to offer tax breaks to first - time buyers or take measures to help lower prices.

It will be tempting for would - be homebuyers to get discouraged with mortgage interest rates increasing but they should remember that at the same time rates are going up, housing affordability is at new records

Though the housing market changes from year to year (and even sometimes quarter to quarter), the challenge for first time homebuyers stays the same: affordability.

At the same time, measures to make mortgages more difficult to obtain result in reduced housing affordability.

The moderation of house prices will improve affordability and create opportunities for first - time home buyers, it said.

The 2017 Demographia International Housing Affordability Survey gives Vancouver a rating of 11.8, meaning median home prices are 11.8 times higher than median household income.

Nothaft put the mortgage rate increases into perspective: «For example, with fixed - rate loan rates up by 0.5 [percentage point] since last summer, and house prices in national indexes up at least 5 percnet, the monthly principal and interest payment is more than 10 percent higher than it was last summer, adding to affordability challenges for first - time buyers.»

That economic maelstrom spawned unprecedented real estate market conditions that dictated housing inventories, affordability and financing terms, all of which affect the optimal timing of a purchase.

Then in a WSJ article Why Housing Affordability Is a Mirage: «Home prices and mortgage rates have made monthly mortgage payments lower than at any time in the past decade.

Pushback against overly tight credit after the housing crisis, a shrunken proportion of first - time buyers and worry about affordability as home values rose led to some tweaks to guidelines that could ease financing pressures for homebuyers this year.

Use the interactive tool below to explore mortgage and rent affordability in your market, how it has changed over time, and how it could change going forward as housing costs rise and rates change.

The major strike against Victoria continues to be housing affordability: the average price is six times the local household income.

Housing affordability is at an all time low in some cities and areas in Canada.

«We expect housing to remain resilient and continue its recovery in 2017, with affordability standing out as the industry's greatest obstacle, particularly for first - time homeowners,» added Duncan.

There is a lot of discussion about the current state of housing affordability for both first - time and move - up buyers, and much of the narrative is tarnished with a negative slant.

«For a long time now, renters have faced an affordability crisis when it comes to housing, and renters in some hot markets will still need significant raises just to keep up with rising rents,» says Dr. Svenja Gudell, chief economist at Zillow.

He explains that, when a housing market is strong for some time and affordability issues come into play, then demand usually slows as prices overshoot the market.

«The recent surge in interest rates amid continued strong home price appreciation are likely to present affordability challenges to homebuyers, especially for young adults who are looking to enter the housing market for the first time,» adds Duncan.

«Continued home price appreciation has been squeezing housing affordability, driving a two - year downward trend in the share of consumers who think it's a good time to buy a home,» said Doug Duncan, senior vice president and chief economist at Fannie Mae.

The Quarterly Housing Affordability Index measures whether or not a typical family qualifies for a mortgage loan on a typical home at the national and regional levels based on quarterly price and income data, as well as a look at affordability conditions for firstAffordability Index measures whether or not a typical family qualifies for a mortgage loan on a typical home at the national and regional levels based on quarterly price and income data, as well as a look at affordability conditions for firstaffordability conditions for first time buyers.

But bidding wars and the buying frenzy from a few months ago are showing signs of cooling, at a time when housing affordability has been reduced due to higher mortgage rates and home prices, Bloomberg reports.

The 7th Annual Demographia International Housing Affordability Survey has for the first time dropped Winnipeg's ranking from affordable to moderately unaffordable.

British Columbia, the United Kingdom and myriad global jurisdictions have already implemented time of sale energy labeling to protect consumers from housing affordability issues in the face of energy inflation.

«Despite decreasing affordability in an already pricey housing market, higher interest rates might have a silver lining for first - time and low - income buyers looking to enter the market.

With housing affordability near its all - time high, does it still make sense to rent?

«Housing affordability remains a pressing issue with home - price growth increasing around four times the pace of wages,» says Yun.

«There are programs in every community that could increase housing affordability for buyers, especially first time and boomerang buyers,» Chrane continued.