I feel like such a loser. Feel like I’m paid extremely well (~190 at 29), but can’t even afford a house in this city without taking an extraordinary mortgage (IMO would be anything >4K). Tired of living in a crappy condo. Even reasonably priced (but still ridiculous) housing options would mean going 1.5-2 hours out of the GTA deep into Innisfil or beyond (.. and you’re still looking at 800k+ for detached homes). Does it ever get better? I feel like I need at least 600k a year to survive here.

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You summed up 90% of the HIGHLY PAID young 28-32 yr old professionals in Canada who are privileged to make that income in Canada before getting grey hair but also being incapable to do anything in the city. Most folks I know have purchased far away from GTA central areas and the firms also slapped a 2-3 day minimum RTO policy so they also commute like crazy.

No idea if and when it ever gets better.

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People typically buy houses when they're coupled up and want a family. With your income level, you should easily be able to afford a mortgage in Toronto, let alone rate GTA with a second working partner

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You’re still young. Once you hit $300k and assuming your spouse makes the same, you can get a decent house. Hopefully by your mid 30s which is still young.

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First: You are of course not a loser!!! You are making a salary that is 3x what some households make and must be extremely bright to earn it. This isn’t about you personally, it’s about the affordability of the city, which is terrible. I imagine you’ve been saving and investing, so keep it up - it’s a long game. I don’t have the answer to the housing insanity but I think perspective helps - I’ve owned both at one point in time. With your salary you can afford a very nice condo or townhouse with amenities and enjoy the city at the same time. Not owning a house means not having to worry about flooding or thaw or raccoons in your attic, mowing the lawn, your furnace or AC dying or a million other responsibilities that come with a house. Living in a condo is freedom!

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Yes the GTA can be highly frustrating- your options are pretty much to leave the city or to find a spouse that makes the same amount of money.

51st state

This tracks given where you work.

Also, gross.

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@OP Look into different areas. You won’t get what your after in high park or the annex, but there are great deals if you’re open minded.

My wife and I just bought a detached home near Rockcliffe-Smythe for under 900. Area is surprisingly beautiful, great schools, is super close to transit, but it’s just not the trendiest (yet). Another few years St Claire is going to be completely different.

If you want a detached house for 900 or less you’re going to have to look at unexpected areas.

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