Monday, 29 August 2011

The Forgotten Homeowner

Last week,  in my regular column on RateSupermarket.ca I wrote about "The Forgotten Homeonwer." A group of young Canadians  being priced out of the market because homes continue to sell for more. 

The latest data  from the Canadian Mortgage and Housing Corporation shows, in the GTA,  the average selling price for a home in July was $459,122,  up almost 10 percent compared to last year.  The GTA includes, Peel, Halton, York and Durham regions,  and the city of Toronto.

According to a recent Housing Trends and Affordability report, by RBC, in the City of Toronto  that price is even higher at $586,600 for a two storey 1500 square foot home. But, in Vancouver it's the highest.  The cost of a standard two-storey home is $843,300,  up almost 20% since last year. Making  Vancouver the least affordable city in Canada to buy a home.

Read more in my post called "The Forgotten New Homeowner." at www.RateSupermarket.ca.

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