Middle-income workers such as nurses, teachers, and first responders, are being “squeezed out” of the Greater Toronto and Hamilton area (GTHA) due to the region’s housing affordability crisis, a recent report suggests.
“A growing number of residents in the GTHA who are working full-time and earning reasonable, middle-income wages cannot find homes to own or rent at an affordable price,” says a June 17 report by the non-profit group CivicAction. The report is the first in a four-part research series looking at the housing challenges experienced by middle-income workers in the GTHA.
Households earning between $40,000 and $125,000 per year would need to use 45 to 63 percent of their incomes on housing in the region, the report notes, while financial experts consider 30 percent to be a “sustainable” threshold….