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The salary you need to buy a home in Toronto keeps on rising despite slow sales

Toronto's real estate market truly is one-of-a-kind in its ability to be simultaneously in desperate need of more housing stock yet somehow overrun with homes for sale, and persistently pricey despite far fewer people actually buying than in the city's bidding war glory days.As realtors continue to report the same abysmal sales numbers we've been seeing for months now, prices have only eased ever-so-slightly, and in the case of some housing types in some areas of the GTA — detached houses and townhomes in the 416, specifically — are even still rising.Even taking the struggling condo segment into account, given present market conditions, interest rates and price points, the amount you would need to earn per year to afford the typical home in the city is increasing.According to a new report from Ratesdotca, the widening gap between the average income of a family in the 6ix and the average income required...


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