Ongoing cost-of-living crisis leaves many Canadians unable to deal with emergency situations

New research from Homestars.com indicates that “millions of Canadians” would be unable to pay for repairs to their home should an emergency situation arise.

The sobering findings are contained in a recent report that revealed “46 per cent of households have less than $1,000 saved in the bank. And with the average price of emergency home repair coming in at a four-figure cost, it seems that many Canadians would struggle to resolve a problem.

“Shockingly, 15 per cent have absolutely nothing at all saved, and 10 per cent have less than $500 saved.”

A release from Homestars states that common problems that may require an “urgent remedy” include broken furnaces, burst pipes, leaks and faulty wiring:

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