Understanding Affordability Challenges of Homeowners

When the RBC Economics division released its “Housing Trends and Affordability” report for the year 2013 and headlined that homeownership was slightly less affordable in Canada at the end of 2013, it got me thinking about the implications of this report on the housing sector in major cities in Canada but especially in Ottawa. Housing affordability in the RBC context is about consumers or households ability to afford market or unsubsidized housing. Affordability therefore is not to be confused with social or subsidized housing .