From the gosh-what-a-suprise department: the Sun has an article about Northern BC having the most affordable real estate.
The survey found that despite average house price increases of 30 per cent across northern B.C. in 2006, owning a home in the region consumes less than half the household income of a homeowner in Vancouver.
According to the BCNREB report, which was commissioned after RBC Financial Group released the results of a cross-Canada housing affordability study showing that B.C. was the least affordable place to buy a house, the Housing Affordability Index (HAI) for northern B.C. was 28.9 per cent compared to 68.5 per cent for Vancouver and 62.5 per cent for B.C. as a whole.
I wonder if anyone in Vancouver actually does spend 68.5 percent of their pre-tax income on housing.. Is that even physically possible?