Published in
May 2019
- Page 23
For most Canadian households, paying the mortgage (or rent) is the single largest monthly household expense. As a rule of thumb, housing is considered “affordable” if it costs 30 percent or less than total household before-tax income. Over the past decade, in the Greater Toronto Area (GTA), for example, housing has become increasingly less affordable. For many, homeownership is simply out of reach. It is easy to see why.
Toronto Example
In Toronto, the average
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