Why a Decent Income is No Longer Enough to Buy a Home in Canada


Just when and why a decent income stopped being enough to buy a home in the Toronto area - and just what is our ever expensive market running on instead?


This is the second of semi-regular sit downs, I'm doing with Urmi Desai, Move Smartly editor, about what I'm thinking, writing and talking to the media about this month.

Our last chat, about how renters are paying the highest price for Canada's housing crisis, proved extremely popular.

This time, we talk about how personal wealth or capital (particularly in the form of higher downpayments) is driving home prices up, why I don't think easy or even cheap credit completely explains why and what we might do about all of this now.

John Pasalis is President of Realosophy Realty and author of the monthly Move Smartly market report. A specialist in real estate data analysis, John’s research focuses on unlocking micro trends in the Greater Toronto Area real estate market. His research has been utilized by the Bank of Canada, the Canadian Mortgage and Housing Corporation (CMHC) and the International Monetary Fund (IMF). 

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