Saving for a home in Toronto? Hope you're patient...

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Want to buy a home in the GTA?

A new report says many would-be home owners will have to spend about a third of their life saving.

This comes from online real estate brokerage, Zoocasa.

It took the household median income, about $78,000 per year before taxes, and found those families would have to save 20 percent of their income for 32 years to be about to afford a down payment.

The report suggests, at that income, the maximum affordable mortgage would be $300,000. The average GTA home costs just over $800,000 which means families would have to save up the other $500,000.

The report ranks the GTA as as the third most expensive housing market in Canada behind the Vancouver area and Fraser Valley.