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Here's how much you really need to earn per year to afford a home in Toronto right now

Even if houses in and around Toronto are no longer flying off the market like they used to — the case is quite the contrary, actually — the city's real estate continues to grow ever less affordable.Sales are in a protracted slump and new listings are surging, making hard to sense even a hint of the old urgency the region's market has hitherto been known for.But still, prices are proving surprisingly indifferent to what's actually happening on the ground, with simply the idea that there is perennial demand serving as enough to keep the city's property as eternally overvalued as ever.(To be fair, if you bought a slice of the GTA market for a whopping $1,334,544 two years ago — the average price for a home of any type at the time — how would you feel about having to let it go for much less?)A new report on housing affordability across Canada shows how things worsened for buyers in nearly every city in&n...


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