To Rent or to Buy a Home? | The Agenda

Costs of homeownership in Ontario have skyrocketed since 2016. Increased demand has driven home prices up while supply lags far behind. According to Toronto's former city planner Jennifer Keesmaat, in the 1970s homes were twice an average salary. In 2000, that increased to five times. In 2019, they were up to 12 times salaries. As well, home costs have gone up by more than 40 per cent in some areas of this province in the last year. Given the extreme costs, is it time to abandon the difficult milestone of owning and choose to rent instead?