Study: Richmond Hill the most un-affordable place to live in Ontario
For years now, we've been hearing about how unaffordable it is to try and buy property in Toronto.
But believe it or not, this city is not the top of the list when it comes to most un-affordable places to live in Ontario.
That designation belongs to Richmond Hill.
"Our top five are all located within the Greater Toronto Area, and that really doesn't come as much of a surprise." says managing editor Penelope Graham.
As a matter of fact, when you look at the list, the top nine locations all have the designation of being un-affordable.
What they did was take the average selling prices for homes and the average salary, to determine who could actually carry that mortgage.
But it's not all doom and gloom.
Areas just outside of Toronto are still considered affordalble, by this scale.
Places like Hamilton, Oshawa, Ajax, Pickering and Whitby are all in the positive.
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