Mortgage Payments Exceed 50% Of After-Tax Income Across Ontario Cities

Mortgage Payments Exceed 50% Of After-Tax Income Across Ontario Cities

Mortgage payments for typical home now exceeds 50% of after-tax family income in every Ontario urban centre; 110% in Toronto To buy a typical home, Ontario families earning the local median income would have to devote more than 50 per cent of their after-tax earnings to monthly mortgage payments in Ontario’s 14 urban centres, and more than 110 per cent in Toronto, finds a new report published today by the Fraser Institute, an independent, non-pa…