A new poll shows 1-in-5 Canadian homeowners say they'll likely have to sell their homes if interest rates keep rising and, when it comes to the housing market, there's pervasive pessimism. Plus, new national vote intention numbers from MainStResearch.
A new poll shows one-in-five Canadian homeowners say they’ll likely have to sell their homes if interest rates keep rising and, when it comes to the housing market, there’s pervasive pessimism among both owners and renters.
Mainstreet’s CEO Quito Maggi said he asked voters about their mortgages and their views on the housing market to examine Canadians’ attitudes about housing affordability. He is especially concerned about homeowners — 16 per cent of them, his poll found — who will be renewing their mortgages this year, when interest rates are likely going to be higher than their previous rates, potentially impacting their ability to pay.
“Somebody could go from paying $2,000 a month on their mortgage to $4,000 or more. And how is that going to stress the Canadian economy and the housing crisis?” he said.
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