News
Why Millennials Should Forget About House Ownership
March 30, 2015
While a majority of Millennials may think a detached home is an excellent investment, many will have to revise their goals in Metro Vancouver. A new report from Vancity states that the average property—with values having increased by more than 126% since 2005—requires over 48% of the average household’s monthly income. If trends continue, the report notes, the average home price in Vancouver could exceed $2.1M by 2030, requiring more than 100% of household income to maintain. (Wait, isn’t that impossible?)
