Quote:
Originally Posted by bizaro86
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.
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Just for giggles and because the numbers always interest me, it looks like the greater vancouver area accounts for ~ 9% of the total sales in Canada so far this year. Even if they are are a half million higher in price (house, condo, etc. all blended) they would only skew the pricing by about $45,000 higher on that plot.
I guess you could try to slice off additional cities off the total pie, but then you'd dig down back to the detail of the demographia report that came out a while back. They looked at local wages to housing and that said most cities in Canada are "moderately to severely unaffordable."
Then again, all this is just interesting numbers - and I'm kinda derailing the thread.
