It's really quite remarkable, quite frankly, and we haven't even launched yet,” he said, adding that the “vast majority” of those who have reached out so far are from southern Ontario, specifically the Greater Toronto Area.

That's a far cry from Toronto where it could take decades to save for the down payment on a home. According to a recent housing affordability report by the National Bank of Canada, Torontonians who earn a median annual income of $91,858 about 25 years to save for a down payment on a house.