You are not alone - more and more people in Toronto are priced out of the real estate market. I completely agree with your opinion on 40-year mortgages and the no-downpayment mortgage loans. These are just ways to inflate the Toronto real estate bubble, which is already inflated a lot. Very, very soon the prices in Toronto will start a steep decline and there is no way to stop this. I'm afraid that this is a bad news for homeowners, but it's better to be aware of the realities of the real estate market, instead of living in denial.
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