Demographia Ranking of 6 Canadian CitiesThanks to Hugh Pavletich and Wendell Cox co-authors of the Demographia International Housing Affordability Survey and Website. This table shows that Vancouver BC ranks as the least affordable city out of the 35 largest Canadian cities with a multiple of 10.6 times median household income required to buy a median priced house. The 6 cities ranked from least to more affordable are: Vancouver 10.6, Toronto 5.5, Montreal 5.1, Calgary 3.9, Ottawa 3.7 and Edmonton 3.5.
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Vancouver and Toronto are not World Financial Centers. We are not comparable to New York or London.
As of 2009 data Wikipedia 30% of Canadian GDP is created from exports and 28% of those exports (~ 11% of GDP) was from manufacturing and 58% of those exports (~ 17% of GDP) was from shipping resources out to other countries who like to make finished products out of the stuff we dig out of the ground.
A lot of our eggs are in one basket. About 73% of our exports (~ 22% of GDP) go to the U.S.
Over 70% of Canadians work in the Service sector. That's a good reason for the Federal government to stick to their low interest rate policy to get more of us out there flipping real estate. Low interest rates suck the savings out of the private sector as participants borrow in a vain attempt to maintain lifestyle.
A lot of our eggs are in one basket. About 73% of our exports (~ 22% of GDP) go to the U.S.
Over 70% of Canadians work in the Service sector. That's a good reason for the Federal government to stick to their low interest rate policy to get more of us out there flipping real estate. Low interest rates suck the savings out of the private sector as participants borrow in a vain attempt to maintain lifestyle.
Demographia Price/Income Ranking of 35 Canadian Cities
Affordable when under 3 ~ Severely Unaffordable when over 5
The table below is sorted with the highest ratio of median housing cost to median household income at the top showing that Vancouver is the most unaffordable city in Canada requiring a buyer to pay 10.6 times annual income. Vancouver ranks 2nd most unaffordable city in 325 world markets after Hong Kong (1) and before Sydney (3). Q3-2011 SOURCE: http://www.demographia.com/dhi.pdf
8th Annual Demographia Q3 2011 SOURCE: http://www.demographia.com/dhi.pdf
