House prices out of reach for many

Stable real estate markets like Vancouver, Toronto and Ottawa are making entry relatively impossible.

But Honey, the bank said we could swing it on a 50 year martgage!

Buying a good single dwelling home in Canada is now virtually impossible for many young couples. They’re buying far from the city center and have to commute, spending 2-3 hours in traffic, or settling for an overpriced condo. The market is overflooded with condos. Financing over many years was an option, but no longer. The Bank of Canada reset the maximum mortgage at 25 years, down from 30.

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