The self-commissioned poll by the Angus Reid Institute found 58 per cent of homeowners with mortgages have to watch the bottom line because of their mortgage payments, including 46 per cent who said they can manage but have to watch spending on extras; 11 per cent who said their payments make things tight and curbs their lifestyle; and one per cent who say it’s a struggle to make ends meet due to their high mortgage payments.
Nationally, 42 per cent said they can manage their mortgage payments easily and have money for everything else, compared with 33 per cent in B.C. Homeowners in Quebec, Atlantic Canada, and Ontario have more likely to be relaxed about the impact of their mortgage payments on their budget. Renters are also less likely than homeowners with mortgages to have wiggle room for unexpected bills or energies. About 23 per cent said they couldn’t manage any unexpected expense, compared with 12 per cent of mortgage holders who they’d get hit hard with an unforeseen expense.
Among those who said their mortgage or rent payment crowds out their budget, the majority said they’ve switched behaviours in order to deal with rising food prices.
Bam big increase in gas prices plus carbon tax increase on its way
Get money laundering out of real estate. End blind bidding.
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