Aug
30
Vancouver Homes Affordable Now, If You Buy Almost Nothing Else
By-
Homeownership costs reach 90.3 percent of median income
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Royal Bank index shows affordability at fresh record lows
Vancouver homeownership costs now eat up a record nine out of every 10 dollars of a typical family’s income. If you have to ask about upgrading from a condominium to a single-family home, you really can’t afford it.
The bill for costs including mortgage payments, property taxes and utilities in Canada’s third-largest metropolitan area has climbed to 90.3 percent of the city’s median household income before taxes, according to an index published Tuesday by Royal Bank of Canada, the country’s biggest lender. The figure rose 6.1 points in the second quarter and by 18.3 points from a year earlier…
Vancouver Homes Affordable Now, If You Buy Almost Nothing Else
