Canadian Real Estate News Headlines (June 3rd 2019)

Hello everyone. How are you?

I provide you with Canada’s news headlines for real estate news for today.

It's going to be hard to own a home in Toronto if you are not part of the 10%: report

Canadians looking for a home in major cities will likely have to look elsewhere unless they count themselves among the country’s richest.

New analysis from RateSupermarket.ca shows that only those in the top income bracket can afford to buy homes in many of Canada’s major cities like Toronto, Vancouver, and Montreal.

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Vancouver ranked 2nd most expensive city to rent an apartment in Canada

What should really come as no surprise is that Vancouver is currently one of the most expensive cities in the country to rent an apartment, according to a new report.

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What comes first? The home or the retirement account?

Having to choose between saving for a home and saving for retirement is not uncommon, especially among young adults. Millennials, who are between 25 and 39 years old, don’t necessarily view the two as equal goals, according to Canadian real-estate company Zolo, which surveyed 1,800 people. Saving for a down payment was a top priority for more than a third of participants, followed by debt repayment, an emergency fund, retirement saving and then travel. Of that list of five priorities, almost half of respondents marked retirement savings as fourth or fifth in line. 

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