this post was submitted on 22 Jun 2023
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Renters in 36 of Canada's largest cities can't afford to buy a starter home: report (www.ctvnews.ca)
submitted 2 years ago by [email protected] to c/[email protected]
34 comments fedilink hide all child comments
 

FTA: The unaffordable cities:

1- Richmond Hill, ON
2- Oakville, ON
3- Markham, ON
4- Vaughan, ON
5- Richmond, BC
6- Vancouver, BC
7- Toronto, ON
8- Milton, ON
9- Whitby, ON
10- Coquitlam, BC
11- Burlington, ON
12- Brampton, ON
13- Mississauga, ON
14- Burnaby, BC
15- Ajax, ON
16- Surrey, BC
17- Langley, BC
18- Oshawa, ON
19- Saanich, BC
20- Kelowna, BC
21- Abbotsford, BC
22- Guelph, ON
23- Hamilton, ON
24- Waterloo, ON
25- Cambridge, ON
26- Barrie, ON
27- Kitchener, ON
28- Ottawa, ON
29- London, ON
30- St. Catharines, ON
31- Montreal, QC
32- Windsor, ON
33- Kingston, ON
34- Halifax, NS
35- Greater Sudbury, ON
36- Longueuil, QC

And the affordable cities:

1- Edmonton, AB
2- St. John's, NL
3- Regina, SK
4- Saguenay, QC
5- Trois-Rivières, QC
6- Quebec City, QC
7- Lévis, QC
8- Winnipeg, MB
9- Saskatoon, SK
10- Gatineau, QC
11- Calgary, AB
12- Sherbrook, QC
13- Terrebonne, QC
14- Laval, QC

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[–] [email protected] 13 points 2 years ago (11 children)

We're a dual income family making well over the average income for our area and we're not even fucking close to being able to afford a house. 2 BDRM duplex with no property around the corner from us is going for nearly $700,000, and we're two hours from Toronto.

At some point the bottom has to fall out.

[–] socialjusticewizard 14 points 2 years ago (2 children)

I'm in quite a high income bracket and by sheer luck bought my house right before the most recent price explosion. My small, poorly built, seventy year old home in a lower middle class neighbourhood is now worth four or five times what I paid. If I was renting, there's no way I could buy it even though I'm making much more than I did when I got it. I can't realistically look into upgrading, because the jump in cost to anything nicer is just absurd.

I have no idea how all this is sustainable and even less idea how our politicians think they can keep ignoring it. I know why they're ignoring it, but they must be aware how this is going to end if they continue to shrug and look the other way.

[–] sbv 6 points 2 years ago (1 children)

I know why they're ignoring it, but they must be aware how this is going to end if they continue to shrug and look the other way.

I don't think they care. They want to win the next election, and that's about it. It's easy to sit back and let the Bank of Canada take the heat.

[–] socialjusticewizard 6 points 2 years ago

Oh I'm sure they don't. I just don't know how they imagine the next few years looking. Are they all just assuming they'll be out of the line of sight when things come to a head?

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