The Fed Gov and BoC have no choice but to keep interest rates at zero and continue to play with numbers to keep the ponzi going so the whole Country doesn't collapse. You also have to take into consideration that there is no where else to find any work but in the big cities.
The whole damn situation is a mess with no way out. Feel sorry for the kids who finish a degree in STEM from Waterloo or UoT and end up working for 40k a year. They will never be able to afford a house and now all of Southern Ontario is getting pricey. Even houses in Barrie (an hour outside of Toronto) are over 500k.
Article
A down payment on a Toronto house should take 24 years to accumulate
The whole damn situation is a mess with no way out. Feel sorry for the kids who finish a degree in STEM from Waterloo or UoT and end up working for 40k a year. They will never be able to afford a house and now all of Southern Ontario is getting pricey. Even houses in Barrie (an hour outside of Toronto) are over 500k.
Article
A down payment on a Toronto house should take 24 years to accumulate
https://nowtoronto.com/lifestyle/toronto-real-estate-afforda...