It’s no secret that some housing markets have gone wild in Canada – namely Greater Toronto and Vancouver, where demand for homes continues to rise with prices in lockstep, while supply is dwindling.
Recent measures aimed at cooling these hot housing markets seem to be having their desired effect – including new mortgage rules, Premiere Wynne’s 16-point Fair Housing Plan in Ontario, and Vancouver’s foreign buyer’s tax.
Despite signs of markets cooling, homebuyers are hot to trot when it comes to snagging their dream home.
A recent home-buying survey by TD reveals that 60 per cent of respondents are willing to go over budget if it means getting their foot in the door. In fact, 56 per cent would up their spend by as much as $50,000. That’s no chump change.
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