News
World’s 2nd Most Unaffordable Housing Market
January 26, 2015
Living in one of the prettiest places on earth comes at a hefty cost. Vancouver has been ranked the second most unaffordable housing market in the world after Hong Kong, according to the annual Demographia International Housing Affordability Survey, which compares median house prices with median incomes. Vancouver was the only Canadian city that made it to the top 10, with median home prices more than 10 times higher than median incomes. (By comparison, Toronto’s median home prices were around 6.5 times higher than median incomes.) Thinking of moving to cheaper pastures? Moncton was ranked Canada's most affordable market.
