Average Incomes Are NOT Good Enough To Buy A House In Ontario & BC

It was my honor to testify before the Finance Committee of Parliament for the 4th time & I got some great questions about household indebtedness & affordability. Overpriced Homes & stagnant wages for average people particularly Young Canadians are crushing the dream of Homeownership for all but the Top 20% of income earners in Canada Or Young Canadians depending on massive financial support from parents. Although the price of Residential Real Estate has fallen in Ontario & BC home prices are still 8X to 10X times Average Family Income, depending on the region Possibly worse: the average age of a First Time Home Buyer had risen from age 27 in the 1980's to age 40 last year.