Quote:
Originally Posted by Clarkey
This needs more clarification from the Carnster. Who cares if your home price is 20x your income if you have a 90% down payment. I assume he's referring to the mortgage amount not the house price but he doesn't explicitly state it.
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Average downpayment (or is it equity?) in Canada is 7%.
Vancouver and Toronto are at 10x income to house price ratio. You do the math.