Housing Affordability a Problem

Saskatoonhomepage.ca, Dec 07, 2015- More than a third of Canadian homeowners feel that housing in their area is unaffordable.

That is according to a survey by Manulife Bank. The survey suggests that housing costs may be putting pressure on other aspects of homeowner finances. More than a third of homeowners were caught short at least once in the past year, where they didn't have enough money in their bank accounts to cover expenses. About 19 percent of people in Saskatchewan expect house prices to decline in the next year. On average across the country, homeowners carry about $175,000 of mortgage debt. In Saskatchewan, that number is about $151,000.

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