HomeMortgage64% of Canadians Are Willing to Relocate to Be Able to Afford...

64% of Canadians Are Willing to Relocate to Be Able to Afford a Home

Written By
Laura Hanrahan

Home prices may be dipping in some of Canada’s priciest markets, but homes still haven’t exactly become affordable. With high housing prices and the Bank of Canada’s rising interest rates making it difficult for Canadians to purchase in their current community, the majority of Canadians now say they’d be willing to relocate just to be able to afford a home.

A report released by RE/MAX on Wednesday found that 64% of Canadians are willing to sacrifice their current locale and move elsewhere if it meant being able to purchase a home. How far they’re willing to go varies, with 50% agreeing that the farthest they would move is 100 km. But 38% said they’d be willing to move to a different city, province, or region regardless of distance.

“Despite affordability challenges across the cost-of-living spectrum, Canadians are still eager to engage…

Read more at storeys.com

- Advertisment -

Most Popular