“And that is with record low rates. When they rise, the bubble will…”
Conservative Jobs & Industry Critic Pierre Poilievre continues to spread the word on the danger of Canada’s housing bubble.
In the House of Commons, Poilievre pointed to disturbing numbers from RBC showing that payments on the average house now take up half of the average family’s pre-tax income, far above the 30% that the CMHC says should be the limit.
“Payments on the average house now take half of the average family’s PRE-tax income. And that is with record low rates. When they rise, the bubble will 💥.”
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