Here's How Much Home Canada's 'Peak Millennials' Can Afford

Here's How Much Home Canada's 'Peak Millennials' Can Afford
Huffington Post ~ April 26th, 2018

A down payment on an "affordable" Toronto condo could buy you a whole house in the Maritimes.

Woe be the millennial homebuyer in Canada.

Things were hard enough in recent years, with house prices rising rapidly in many cities, but a new report from Royal LePage highlights just how much tougher buying a home has become in recent months.

The federal government's new mortgage rules, instituted at the start of the year, have reduced the buying power for a "peak millennial" by about $40,000, the report said, reducing the mortgage they can get by 16.5 per cent.

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