With affordability falling, is it time to rethink home ownership?

Vishal Joshi would like to live in London, Ont., where homes are more affordable but his job is in Brampton, where prices are well beyond his reach.

Vishal Joshi still dreams of owning a home in Canada, but falling affordability has him considering other options. “The radius of where we’re looking for a house keeps getting bigger and bigger,” he says. As house prices and interest rates rise and wages stay stagnant, a university professor says it might be time to rethink home ownership and consider other options.

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