If you're thinking about purchasing a house, now is the time.
Home prices have increased over the past 25 years - but they won't be this low again anytime soon. Take advantage of the lowest rates for houses in over two decades. It was the year that Prince Charles as well as Diana Princess of Wales divorced. Macarena landed at the top of Billboard's Hot 100 Singles and Braveheart was awarded an Oscar in the category of Best Picture. What about houses? You can buy one for $200,000, which is the amount needed for a typical priced home in the present. Based on the Re/Max Canada Quarter Century Market Report the median price of a home located in the Greater Toronto Area (GTA) in 1996 was $198,150. In 2021 the average cost was $1,095,475. This is a staggering growth of 453 percent and an annual rate of growth of 7.08 percent. My family and I moved into the house we call home today in the year 1996. It was located in Brooklin the village of Brooklin in the north of Whitby. Being aware that...