Middle class? Looking to buy a house in York Region? You can’t afford it

All nine municipalities in York Region are now deemed “completely unattainable” for middle-class families seeking to buy homes, according to the Ontario Home Builders’ Association (OHBA). Research indicates that it takes 724 weeks of earnings for a mortgage in King Township and 625 weeks in Richmond Hill. Home prices in the Greater Toronto Area have tripled since 2005, while average wages have only increased by 16%. The OHBA calls for more provincial intervention to address the ongoing housing affordability crisis.