The Canadian housing market is on fire and financial experts are expressing their concerns as prices continue to rise.
The Bank of Canada has recently stated that a risky mortgage is 450% or more than your average annual income.
In this short video, Business journalist Daniel Tencer takes a quick dive into the surge of highly indebted borrowers piling into Canadian real estate, and why bank regulators are increasingly becoming concerned.
With the lack of increased incomes and the rise in inflation and home prices, we are being warned of these risks and how they may affect us going forward.
JP Real Estate not only prides themselves on being leaders in the local real estate market but can confidently offer you the information you need to make informed real estate and borrowing decisions.