Is it better to buy or rent a home in today’s sizzling real estate market?
Because the barrier to entry in Canada’s housing sector has intensified over the last couple of years, many prospective homeowners have given up on the dream of homeownership, choosing to maintain their renter status. Even when they save enough for a down payment, the minimum threshold rises because of how rapid price growth is in this environment.
Remember, the national average price for a home in Canada is approximately $820,000.
As a result, many Canadians do not have a choice but to continue renting an apartment from a corporation or leasing a three-bedroom, two-bathroom house from private individuals.
But is this throwing money down the…
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