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[URBAN NOTE] “Vancouver third most expensive in world for housing, Toronto 13th: study”

The Toronto Star carried the Canadian Press report about Demographia‘s latest international survey on the affordability of housing.

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.

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Written by Randy McDonald

January 25, 2017 at 9:30 pm

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