This irrefutable fact is really not so surprising. Given that it requires 27.5 years of savings, at a rate of 10% of an average couples median pre-tax income to garner a 20% down-payment for a residence in the G.T.A.
Comparatively; FYI; It is estimated that it requires 36 years of collective savings in the lower mainland of Vancouver . So perhaps we should consider ourselves fortunate. The Canadian average for saving a respectable down-payment is now > 6 years. If you would like more information regarding assisting your children with property investments. Please contact any of our offices for confidential advise on the link below.
Happy Holidays!