Because they bought it when it was worth $700k with two working partners making the income I mention about. Toronto Life and Globe and Mail both frequently inte

Because they bought it when it was worth $700k with two working partners making the income I mention about. Toronto Life and Globe and Mail both frequently interview people about their personal financial situation. With a few high earning exceptions, mostly it is because they bought 10 years ago and are drowning in debt and/or sold their existing property. Very few people, even well-educated, dual-earning high-self-discipline couples, are really "entering" the market for houses. Depending on earning power my friends continue to live at home through 20s (low), rent an apartment or condo (mid) or buy a condo (high). That is about where it falls for people in their 20s here, similar I imagine to other world centers.