Toronto Star Headlines - Thursday August 17th.
You’ll need six figures to buy almost any GTA home, $200,000 a year for the average detached Toronto house, report says. As the cost of Toronto-area housing rises, so do the financing challenges for young adults. Read More
This article is based upon data in "The Report" that assumes that all housing is purchased with 20% down. Most of the homes we sell are well over 1 million dollars. Most, if not all, of our purchasers carry with them equity from their last house so their down payment typically is nowhere near 20%. On average it is considerably more. So don't be frightened by statistics that are somewhat deceiving! The sky is not falling in.
Remember that if you have one foot in a bucket of boiling water and the other foot in a bucket of ice cubes then someone can write a Report indicating that statistically you are a perfectly normal temperature. We are also looking forward to a brisk "normal" Fall Real Estate market, statistically speaking!