Five key takeaways on America’s housing market
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However, since there are more homeowners than renters, with nearly 7 out of 10 Canadian households (69 percent) owning their homes in 2011, or 9.2 million out of 13.3 million households, a larger proportion of renters (40.1 percent) exceeded the affordability threshold compared to owners (18.5 percent). Shelter costs include, where applicable, utilities (electricity, heat, water, and other municipal services), mortgage payments, property taxes, condominium fees, and monthly rent. In 2011, Canadian households paid a monthly average of $1,050 toward shelter costs, with owners paying $1,141 and renters $848.
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Housing isn’t really going gangbusters. Despite those eye-popping price jumps , housing is not in a bubble or even a boom. Real estate is also not likely to be the same economic driver it once was, Duncan said. We are of the view that housing is continuing to grow, but we are not of the view that it is robust, he told The Times. While home prices have posted double-digit increases this year, those gains are just bounce-backs from very low bottoms.
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