The legendary Yogi Berra would likely start his commentary on the G.T.A housing market with “it ain`t over till it is over” or something to that effect.The G.T.A housing market is now cruising at double the normal affordability ratio, while the B.C lower mainland is triple. That translates to people are spending 8 to 12 times their combined annual income on mortgage debt. Leaving us with that gut wrenching feeling, “that the future ain’t what it used to be”.
Below is a reflective article from noted other pundits via the Globe & mail editorial.
