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What does it mean to be 'house poor' and how can you avoid it?

The journey to home ownership can be exciting, but personal finance columnist Christopher Liew warns about the trappings of becoming 'house poor' -- where an overwhelming portion of your income is devoured by housing costs.

The journey to home ownership can be exciting, but personal finance columnist Christopher Liew warns about the trappings of becoming 'house poor' -- where an overwhelming portion of your income is devoured by housing costs (gopixa / Getty Images)

Entry to housing market feels out of reach for 76% of non-owners: CIBC poll

Three-in-four Canadians who don't own a property say buying a home feels out of reach, a new poll shows.

A real estate sign is displayed in front of a house in the Riverdale area of Toronto on Wednesday, September 29, 2021. THE CANADIAN PRESS/Evan Buhler 

What to expect from the spring housing market

After five straight holds of the Bank of Canada's key interest rate that followed its hiking cycle of more than a year, economists say a rebound awaits the national housing market — but don't expect a big surge just yet.

Construction workers are seen working on the site of a new condo development in Montreal, Monday, Feb. 19, 2024. THE CANADIAN PRESS/Christinne Muschi

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opinion

opinion What does it mean to be 'house poor' and how can you avoid it?

The journey to home ownership can be exciting, but personal finance columnist Christopher Liew warns about the trappings of becoming 'house poor' -- where an overwhelming portion of your income is devoured by housing costs. Liew offers some practical strategies to maintain better financial health while owning a home.

Step inside Emma Roberts' sumptuous L.A. home

While many celebrity homes look less than lived-in, ranging from spotless minimal to ostentatiously palatial, actor Emma Roberts' Hollywood Hills home is made for curling up with a good book -- or several -- with warm tones, comfortable couches, and antique curiosities in each room (also, a lagoon-style pool in the backyard for summer reads).

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OPINION

OPINION New to Canada? Here's your guide to purchasing or renting your first home

Navigating Canada's real estate market can be daunting for new immigrants, especially amid an affordable housing crisis. Personal finance columnist Christopher Liew outlines the documentation newcomers will need to rent or purchase a home in Canada, and some key expenses to budget for.

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WATCH Canada on 'the razor's edge' of a recession, warns economist

After the Bank of Canada held its key interest rate at five per cent, an economist says that inflation will be the key factor in determining whether more rate hikes are coming, and warns that a recession is a real possibility.

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