Whoaccio
Senior Member
I would say that downtown home ownership is affordable to anyone making $80K or more for smallish condos, $100K or more for semis and single detached houses. I just ran a MLS search and found 20 detached, semis or single houses south of Bloor for between $400 and $500K. If your income isn't $100K or more then I'd say you will find home ownership outside of condos to be unaffordable. I imagine you can do it, but it'll be a stretch, especially if you have a couple of kids, and some vehicles.
That's a pretty high income group. If you are talking about a dual-income family, it is more manageable. Even there though, it's fairly common for one spouse to either stop working or switch to part-time employment after having a few kids, which can make living downtown very hard.
I find this concept really interesting. The need to have "space" and a "backyard" is a very American concept.
Well, Markham has no shortage of Chinese and South Asian immigrants looking for "space", which would seem to disprove that.
There are only so many ways to say this, but: all things being equal, people will live where it the best value. Period. If you can get an extra 1,000 sq ft by moving farther out, most people will do it. Or maybe they will just pay less for equivalent space. It doesn't matter whether they are American or Taiwanese.
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