Toronto affordability problemThe index is the latest to raise concern about the Greater Toronto Area's red hot-real estate market. Last week, Ontario's Finance Minister Charles Sousa publicly mulled the idea of a foreign buyer's tax to cool the GTA real estate market. The average price of a detached home in Toronto is more than $1.5 million, according to the Toronto Real Estate Board. British Columbia has imposed a 15-per-cent tax on foreign nationals buying real estate in the Vancouver area. Market 'dichotomy'But the Teranet-National Bank data paints a much different real estate picture outside of the GTA and Vancouver.

Source: CBC News March 15, 2017 14:03 UTC