Recent changes to the mortgage stress test designed to cool down hot housing markets across the country may make it more difficult for some Albertans to purchase a home.

Everyone's heard the term "house poor," referring to anyone who spends a large portion of their income on homeownership, leaving little money left for other expenses or small luxuries. It's a classic case of one's eyes being bigger than their stomach.

That's why getting a mortgage pre-approval can be a double-edged sword – it's nice to know what you can afford, but it's awful tempting to go ahead and spend to the maximum you're approved for. However, this decision can leave buyers vulnerable to fluctuations in the housing market or the overall economy.

Housing affordability was centre stage when the federal government announced the new First-Time Home Buyer Incentive program as part of their 2019 budget, and it promises to be a big campaign issue this fall.