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Can you hear that? It's your condominium calling!

Many average Canadian families are finding home affordability out of reach with higher prices and increases in mortgage rates, says a recent report from RBC.  It states that the average household has to give 43.3 percent of its much needed pre-tax income just to service the cost of owning a bungalow at current market values.  For a two-storey home, the affordability measure rose to 48.9 percent of it's pre-tax income in the July-Sept period. However, there is a beacon of hope for those still hoping to become home owners.  Owning a condominium is the most affordable option, with a cost measure of 28 percent of pre-tax income.  The condominium lifestyle is growing more and more in popularity due to affordability, maintenance-free lifestyle (no shoveling) and lets not forget convenience (no more 2 hour commutes).  Your condominium is calling, don't keep it waiting.  Search here.






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Toronto Real Estate Board - IDX Last Updated: 1/16/2018 6:34:04 AM