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Six figure income needed to buy almost any GTA home

Sunday Aug 20th, 2017

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As the cost of Toronto-area housing rises, so do the financing challenges for young adults. Report says $200,000 a year is the average income needed for a detached house in Toronto. It takes a six-figure income to afford virtually any Toronto area home — even a condo — and that expense is presenting a considerable financial challenge to an important cohort of millennial consumers. Separate studies from two real estate companies on Thursday paint pictures of the high income... [read more]

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