What income level should you be able to afford a starter home in gta/gva?
There are tons of threads from bulls/bears. I understand that home ownership is not a right, but at what wage do you think it would be “fair” for a couple to afford a home? This is hypothetical.
I’m talking about a starter home (townhouse/semi detached/small detached). Should a couple making 70k combined be able to purchase a home? Etc. assume they have saved their entire base salary as a downpayment.
As it stands right now a couple making 100k with no debts can qualify for a mortgage of 458k. That means with 100k down they can get a home max 558k. That seems reasonable for a starter home in the gta or gva right?
I’m talking about a starter home (townhouse/semi detached/small detached). Should a couple making 70k combined be able to purchase a home? Etc. assume they have saved their entire base salary as a downpayment.
As it stands right now a couple making 100k with no debts can qualify for a mortgage of 458k. That means with 100k down they can get a home max 558k. That seems reasonable for a starter home in the gta or gva right?