Quote:
Originally Posted by GGG
Median individual income and average SFH are bad comparisons to use when accessing or comparing housing affordability.
If you want to discuss SFHs you should be using median family income against Median SFH. You should also be using the greater Metro area and not just metro Vancouver proper.
Even when you do this their is likely still affordability issues but it’s a much more reasonable comparison.
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No one's talking about median individual income, or SFHs.
That's the "benchmark price" for all housing types and the income required and says nothing about whether it's a single or dual income, etc...
For a detached SFH, the price jumps to almost $2.1mm... For that, you'd need an income (individual or dual) of over $400,000... Doesn't seem any more reasonable.
Edit: My numbers are from
here... Not sure if the boundary indicated is Metro or Greater Metro Vancouver... In any case, Langley and Maple Ridge are a long ways out.