Did you know?
It’s significant news. Headlines and news stories are reporting that it takes a whopping 91% of household income to buy a bungalow in Vancouver. This number is based on research done by the Royal Bank of Canada (RBC) for its Housing Trends and Affordability Report released on August 27, 2012. Is this true? To find out we asked Cameron Muir, Chief Economist, at the BC Real Estate Association. Yes it’s true – if we use RBC’s measures Muir told… Read more
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