Toronto Mortgage Affordability: 1985 vs. Today

For many homeowners in Toronto, their largest asset is the equity in their home and for the younger generation of homeowners there is often little left in the budget after the total carrying costs of maintaining a household are factored in.

We’ve all read about the ever-increasing housing prices in Canada (and especially Toronto), but has affordability diminished? Check out this article from RateHub that looks at the monthly carrying costs of 1985 vs. Today to see where we stand.




The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Assumptions, opinions and estimates constitute the author's judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own legal or tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances.. Richardson GMP Limited is a member of Canadian Investor Protection Fund. Richardson is a trade-mark of James Richardson & Sons, Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited