Quote:
Originally Posted by gladaki
Is that means 35 % of pretax income is needed to buy $461,100 house ? qualifying income for this kind of house is 95k$ ? so whoever owns a house with this price has this income ?
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The way I interpreted that was families are only spending 34% (in the case of Alberta) on their mortgages each year. Whereas people in Vancouver are spending a lot more of their salaries just on that. So on average, somebody making $100k here would be spending (simplified) $34k / year on their house.