Browse Stacks: Business: Real Estate: Credit Boom, Credit Bust Price vs Value

The ratios of average housing prices to average incomes are 13.2 in Vancouver and 7.7 in Toronto. These can only be the result of demand from external purchasers much wealthier than domestic residents. They far exceed the historical average ratio of three, and are well above the ratio of five, at which housing is considered “seriously unaffordable.” Financial Post, April 13, 2016 ...more at www.chpc.biz