Home ownership mildly more affordable Home, ownership, affordable, mildly

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Home ownership mildly more affordable
Vancouver is most expensive housing market
Tamara Slobogean Nov 29, 2010 06:32:16 AM
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VANCOUVER (NEWS1130) - The costs associated with home ownership in Canada are returning to last year's levels.  According to new stats from Royal Bank, it's mildly more affordable to have a home.

The numbers showed many people are attracted to the irresistible interest rates and a slight dip in price.  Both have played a factor in pushing the cost of owning home down, but just a little.

On the streets of Vancouver, News1130 found one homeowner who says life doesn't really feel much cheaper.  "I life in Surrey and my wife and I are both working.  And I got three jobs, my wife also.  We're working hard because it's very expensive."

Canada's most expensive housing market is still right here in Vancouver.  However, the cost of a detached bungalow will eat up roughly two-thirds of your pre-tax income, a drop of five and a half per cent from earlier in the year.