Housing costs are a growing worry, BMO index finds
Prices have been driven upward by fierce bidding wars coupled with a lack of homes being listed
Both household assets and debts are well above pre-pandemic levels, RBC reports
Persistent liquidity constraints and large debt maturities signal that defaults are likely
Buyers from expensive markets are drawn by the city’s lower prices and laid-back lifestyle
The national average home price was a record $748,450 in January, up 21% from $618,587 a year earlier
The Real Estate Board of Greater Vancouver says home sales totalled 2,285 in January, down nearly 5% from the same period in 2021
The tax is part of the federal government's plan to crack down on rising home prices
The greatest increases were in smaller urban markets
The national average home price hit $713,500 last month, up almost 18% from the previous December