Quote:
Originally Posted by chemgear
Interesting stuff from the Globe & Mail today, too bad they couldn't get a median to median comparison.
http://www.theglobeandmail.com/repor...rticle2183671/
I am lucky enough to be making (quite a bit) more than 2 times the median wage in the US; I guess everybody else in Canada is as well.  |
While I doubt the median Canadian makes anywhere near 2X the median American, I don't think national statistics have much meaning for the real estate market, especially with respect to affordability.
The median Vancouver income is buying (or not, probably) a Vancouver house, and a Saskatoon income needs to be able to buy a house in Saskatoon. An overheated market in one place could mask a depressed market in another place, even for decades, since real estate is fundamentally a local market. (Not many people move their houses interprovincially, and you can't move the land).
It's the old one hand in scalding water, one in ice, and having a nice average temperature to go with the burns/frostbite.