[URBAN NOTE] “Vancouver third most expensive in world for housing, Toronto 13th: study”
An annual international survey rates Vancouver as the third least affordable housing market on the planet and it also has a warning about Toronto housing.
The 2017 Demographia International Housing Affordability Survey gives Vancouver a rating of 11.8, meaning median home prices are 11.8 times higher than median household income.
Read more: Toronto house prices climb more than 22%
Only Hong Kong, with a rating of 18.1, and Sydney, Australia, at 12.2, outstrip Vancouver.
Demographia says housing markets are affordable when median prices are no more than three times higher than median household income.