Toronto Downtown Condos For Sale.
The cost to carry an average detached Vancouver Home is now more than a typical household makes in earnings.
Imagine. it takes 109 per cent of pre-tax earnings to buy just an average Home in the Metro Vancouver area leaving nothing for food, clothing or other expenditures.
Now Toronto is heading in the same direction according to the latest RBC affordability calculations for the fourth quarter.
According to RBC only 32 per cent of pre-taxed household income should go towards Home ownership costs like mortgage payments, utilities, maintenance fees and property taxes.
It would take $160,000 of qualifying income to buy an average residential property including Condos and $215,000 of income for a detached Vancouver Home.
It appears Home ownership is not something all Canadians expect to afford, even with the low mortgage rates.
The answer, Condos for those shut out of single family detached Homes.
During this month, Bay Bloor Condos For Sale and St Lawrence Market Condos For Sale, continue to be very popular with our downtown Toronto Condominium buyers.
Iris Li, Toronto Condos Realtor, specializes in Toronto Harbourfront Condos for sale/rent both new and resale.
Let us help you find that new luxury Toronto Condominium,or Toronto dream Home.
Call Iris Li Today!