Quote:
Originally Posted by YOWetal
Actually, I think a lot of people can afford $600k or even $800k in Ottawa. At least if we are talking a two income professional couple. I think people in Ottawa are just cautious. (which is not necessarily a bad thing) In some case there might be significant student loan debt but your typical professional couple in their early thirties can afford to buy a substantial house in Ottawa. A police officer and someone making the new minimum wage can probably afford to borrow $600k for example. Two government workers with 5 years experience can most likely can afford that $800k townhouse. For $800k you should still be able to get a move in ready townhouse even in the Glebe or New Edinburgh.
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I think you're overestimating incomes or underestimating the current mortgage requirements of banks.
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