Summary: Despite earning $100k, my chances for a mortgage in Toronto are slim due to exorbitant home prices. I regret turning down a higher-paying offer in NYC.
It is indeed disheartening to witness how high property prices in Toronto can be, even when securing a good salary. From my experience, not only does it require a high income but also an exceptionally strong credit profile and substantial down payment savings. The market appears to be in a state of constant escalation, meaning that even fiscally responsible decisions sometimes do not align with the dynamic pricing trends. I found that comprehensive financial planning and early consultation with mortgage advisors are essential steps in navigating these challenging times.