Final answer:
The question seeks to identify which Canadian city out of Montreal, Toronto, Vancouver, and Ottawa requires the lowest share of household income for home ownership costs. Historical data suggests Toronto and Vancouver may have higher costs relative to income, but current and comprehensive data is needed for a definitive answer, and as such cannot be provided without that information.
Step-by-step explanation:
The question asks which city among Montreal, Toronto, Vancouver, and Ottawa requires the lowest share of household income to cover ownership costs. These costs typically include mortgage payments, property taxes, utilities, and condo fees, if applicable. To determine which city requires the lowest percentage of income for homeownership, various factors such as average house prices, average household incomes, and benchmark interest rates should be considered.
Historically, cities like Toronto and Vancouver have had higher real estate prices, which could lead to a higher percentage of income required for ownership costs, compared to cities like Montreal and Ottawa. However, this can vary over time and with changes in the housing market, interest rates, and household income levels. Therefore, to provide a conclusive answer, one would need to reference the latest housing affordability studies or data, which can give a current comparison of the average income percentage required for homeownership in these cities.
Without access to real-time data or a specific timeframe referenced in the question, it is not possible to provide an accurate answer as to which city currently requires the lowest share of household income for ownership costs.