National Bank of Canada's most recent affordability report painted a grim picture - putting together an estimate on how long it takes for Canadians to save for minimum down payments on non-condo dwellings. As of the end of this year's Q3, it takes twice the usual length of time for median buyer/s to save. In some markets, it can take over 35 years to save for the minimum down payment.

Canadian families wanting to purchase a home with median income need on average nearly a decade to save. At the conclusion of Q3 2021, it takes 104 months to put enough funds away for a down payment on a non-condo home. Since 2000, that average had been at a reasonable 49 months of saving.

Vancouver real estate has long been of the least affordable markets worldwide and has recently worsened. It takes the average household 431 months to save for a down payment as of the end of Q3 2021. This is a jump from the previous quarter and a stark contrast to the average of 147 months that we've seen since 2000.

Toronto's real estate market has experienced much of the same. At the close of Q3 2021 It takes the median household 330 months to save for a down payment, up from the previous quarter's 318 months. The average length of saving since 2000 is interestingly only a mere 64 months - which represents the second biggest disparity in current market and historic measures nationwide.

Victoria has seen the most significant deviation from historical patterns - it would now take 350 months to save for a down payment on a non-condo home, while the average since 2000 had been around 68 months.

In Edmonton it now takes 30 months to save for a down payment, compared to the 25 month average since 2000 - not too drastic of a difference. Winnipeg is similar where it takes 29 months for a down payment, slightly up from 22 months average since 2000.