Lynx Air to cease operations Monday, get creditor protection – CBC.caHigher interest rates and strong home prices mean most Canadians are downsizing for their homes over the $1-million benchmark, according to a new report by Royal LePage. Royal LePage released a study Thursday morning that reviewed the average square footage, bathrooms and bedrooms available for homes listed around the $1-million price tag (give or take $50,000 or more). market saw the income needed to meet a decline in housing in all major cities included in the report. The average home buyer actually needs nearly $1 million to afford the average home in some of Canada’s most expensive housing markets, according to Ratehub analysis. A Re/Max report released earlier this month pointed to housing prices, high interest rates and tax policies driving Canadians to Alberta in a wave of interprovincial migration.
