That salary ceiling is definitely one of the reasons I left for the states. Funny thing: that article goes to pains to point out that foreign investment into Canadian housing is a big issue, and I'm now watching the Toronto market, with the depressed exchange rate and looming recession, wondering whether I should turn around and buy property as an investment. There are tricky factors surrounding when and what to buy, but it could be sound over the long term, considering that the city is a seat of power for government, finance, and healthcare.
>wondering whether I should turn around and buy property as an investment
Why would you do this? There's been nothing but talk about a housing bubble, especially in Vancouver and Toronto. This seems like the worst possible time to buy property there, especially if you take any debt to do it.
This has been the talk for many years now. I know people who have been waiting for the bubble to burst, and now have absolutely no chance of ever getting into the market.
