Quote:
Originally Posted by Winsor_Pilates
shows how difficult Vancouver is to afford for your typical local, but also is a bit misleading as they're not the ones buying those bungalows & those bungalows aren't typical homes on Vancouver.
I would like to see the percentage for the actual people buying those homes who are typically very wealthy both local or foreigners.
Or compare the typical wages to home costs including condos and attached houses which they actually typically live in.
Still would likely be the highest in Canada, but not 72%
|
True, considering that that's a percentage of pre-tax income. When it comes out in the wash those numbers would point to less than $500 to live on a month for everything else, which obviously isn't a 'real life' number. However it does point to the fact that a median income family simply cannot buy an average place. If Vancouver Real Estate were a stock traded on an exchange, you wouldn't want to buy and hold that stock for the long term with fundamental warnings like that.