Quote:
Originally Posted by stampsx2
Great post. Curious where you got the 30-32% recommended max? Economist or bank standard?
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I’m pretty sure it’s a cmhc requirement that mortgage plus tax cant be over x%. I’m going off memory though from 10 years ago when I last moved.
Edit: CMHC uses 35% now but it needs to include heating cost and 50% of Condo fees as well which I didn’t include in my post but the conclusion doesn’t really change Median family can afford median SFH in Calgary.
https://www.cmhc-schl.gc.ca/en/finan...ice-calculator