The $1-million Dream
The average cost of a detached home in Toronto is now $1,040,018, according to the Toronto Real Estate Board. For the first time ever, we've cleared the $1-million mark.
I recently bought a detached home in Toronto, but I could never afford a price tag even close to $1-million. The once modest dream of owning a detached home in a nice Toronto neighbourhood is now out of reach for so many.
Digging a little deeper, it's not all doom and gloom. The average price of a home in Toronto is $596,193, if you include semi-detached, townhouses and condos. That's still an awfully high price for your average hard working Toronto family.
I have two simple questions for the hivemind.
- Do you own a home in Toronto?
- Could you afford to buy your own home if you wanted to do so today?
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