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The continents most ‘severely unaffordable’ market

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Demographia has just released their 5th annual international housing affordability survey, and it puts Vancouver at the top of the list of ‘severely unaffordable‘ markets on the continent, and the 4th most ‘severely unaffordable’ market of all cities surveyed.  Here’s a PDF of their report, and here are some choice excerpts:

In recent decades, the Median Multiple has been remarkably similar among the nations surveyed,  with median house prices being generally 3.0 or less times median household incomes. This historic  affordability relationship continues in many housing markets of the United States and Canada.  However, the Median Multiple has escalated sharply in Australia, Ireland, New Zealand and the  United Kingdom and in some markets of Canada and the United States.
…..

…many of these severely unaffordable markets have experienced steep price  declines in the last year. Among the major markets, Vancouver is the least affordable, with a Median Multiple of 8.3, followed by Sydney (8.3), San Francisco (8.0), San Jose (7.2), Adelaide (7.1),  Melbourne (7.1) New York (7.0) and London (6.9).

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blackdog

MrBear:

"Paranoia strikes deep

Into your heart it will creep

You stop 'cause your allways afraid

Step out 'a line , the man comes to take you away"

Maybe I'm everybody on the board, maybe I'm you hating your mommy for doing that to you, …… you know what , don't you. The dog next door is telling you to kill them all, no one understands his barking commands but you. OOOOooooOOOooooOOOO, everybody is conspiring against you now.

Did you take your medication todayyayyayyayyayyay.

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Supraboy

"Sound like you are a spoiled child living in the basement waiting for parents to croak from melamine overdose at Dim Sum." This sort of comment obviously does not belong here. Anyhow, back to the real estate topic. I've seen a few houses near my area listed higher today than it was a year ago. What are these ridiculous people doing? A house on Heather near 54th going for 3.2 million? What the hell? My dad told me that person bought it for 2.8 million. What world are they living in? Or am I living in the correct world? Let me get this straight, a piece of land there, at 50×130 is worth around a maximum of 900,000. I'm already being generous. Now how much does it cost to build a house on that type of lot size, assuming they're… Read more »

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NO -LYMPICS

And yes, just as you suspected I’m part of the vast bleeding heart left-wing marxist conspiracy to hide the ‘truth’ about people that have different colored skin than you and weren’t blessed to be born in the same town as you.

=======

Suspicions confirmed

10-4

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admin

Strataman: I voted you up, you all want me to close the blog now? 😀 ATTENTION ALL READERS: Please do not mistake my enthusiasm for free speech (more accurately my lack of enthusiasm for actively policing comments on this site) as endorsement* for race-baiting, trolling and ranting about subjects as far off topic as immigrants coming here to take your job**. I'm not currently deleting comments, but asking nicely for now: keep your comments focused on economics and real estate and try not to generalize about various racial groups if for no other reason than it has nothing to do with the topic at hand. If you want to discuss immigration issues, I'm sure you can find a more appropriate blog to rant on. And yes, just as you suspected I'm part of the vast bleeding heart left-wing marxist conspiracy… Read more »

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NO -LYMPICS

Lily Pad

Squirrel recipes?

Yes:

Garth had sauteed sweetbread and entrails.

Shaved tail as garnish.

Head with parsley clutched in the jaws.

Yum!

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scullboy

Kuroame: There's a big difference between saying "the system is biased against middle class males" and "I don't like brown people". If you can't see that, well that's your problem I suppose. I actually was with a COlombian refugee for quite some time. I helped get his family into the country. The all worked like hell because they were proud and didn't want a handout. However, there were a LOT of people in that community scamming the system. So many my ex is embarassed. He mentioned it Xmas Eve. Pretending there's a serious problem won't make it go away…. and neither will implying anyone who points it out is racist. The reality is, I paid into that fund my whole life. One of the "counsellors" actually said if I had sat on my ass and just filled out the online… Read more »

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NO -LYMPICS

284 john Says:

January 28th, 2009 at 7:31 pm

Just got back from Shanghai. I was checking out the SUV market there and it’s exploding. Everyone wants and SUV. As luck would have it I have many so I can supply them readily. I also own lots of condos in Vancouver which they all want as well. It’s good to be me.

==============================

John…the SUV market and it's exploding?

You have it confused with a 1972 Ford Pinto.

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Lily pad

NO -LYMPICS: I missed the show. Did you get any good recipes?

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MrBear

Sidelines: "where the f*ck does it say anything even remotely close to that?" See, I noticed that too, just like how blackdog's main article reference was to a snopes.com page that absolutely disagreed with his point. But you see, he'd have to read past the first sentence on the page to figure that out. Like, one *word* past the first sentence.

I'm assuming blackdog and StopTheScammers are the same person, there's just too much consistency there.

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MrBear

Sidelines: "And, yes, someone please moderate this blog! I agree, the refugee chat belongs elsewhere. Having said that, what to do with bigots who post crap? Ignore?"

They don't go away if you ignore them, but taking them head on seems to encourage sock-puppetry, and even if you nail them on their "facts" they ignore that they've been caught out. Since rational argument isn't possible and moderation isn't likely, ignoring them probably makes the most sense.

It is too bad though, it poisons the discussion and drives away people who may have useful on-topic content to share but who are offended by all the trash.

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obamaton

PRAISE THE POWER OF THE ONE. I along with everyone on this blog should praise the one as he comes riding to save the world. 800 BILLION DOLLARS will be spent so that others may live. You must bow before the one and cheer the second coming. It is clear the one has come to save the world. It's like heroes but REAL.

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Sidelines

StoptheScammers:

In a weird way, it's kind of fun to read your crap.

"Yes it goes into detail how being threatened by drug cartels is good and being persecuted because you are homosexual is good too."

Damn! I just can't help it, I'll feed you, troll: where the f*ck does it say anything even remotely close to that?? Tell you what, post a link and give us the paragraph number so we can all check this out, Billy Bob. I checked your link. Waste of my time, yes, but I checked. What you talk about, the homos, the druggie stuff, it no there, muchacho! You say it there, but it no there. ¿Por qué?

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Informer10

The Port Mann Bridge/Highway 1 expansion project includes constructing a bridge adjacent to the existing Port Mann Bridge and widening the highway.It also involves upgrading interchanges and improving safety between McGill Street in Vancouver and 216th Street in Langley, a distance of approximately 37 kilometres.

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StoptheScammers

And Sidelines …

All they have to do is get here and there's NADA forking thing we can do to get rid of them for 2 years. And they know it.

50,000 refugees this year, 35,000 of em scammers. Yeah we got a problem all right, particularly when there's NO FUKKIN WORK FOR CANADIANS you judgmental pulpit pounding dope.

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StoptheScammers

Sidelines and Refugees …

Are you too lazy to support your rubbish with actual facts er what? The facts are rock solid. Check out the summary at

http://www.irb-cisr.gc.ca/en/media/infosheets/rpd…

Your get material like …

"In 2005, the top five countries of origin for refugee protection claims made in Canada and referred to the IRB were Mexico, China, Colombia, Sri Lanka and India."

Click down to "frequently asked questions"

http://www.irb-cisr.gc.ca/en/about/faqs/index_e.h…

Yes it goes into detail how being threatened by drug cartels is good and being persecuted because you are homosexual is good too.

Like I said, we probably have a rush of ex-drug dealing Mexican homosexuals being granted refugee status. Butt seriously. If I were a lawyer thats exactly what I would telling my client.

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Sidelines

And, yes, someone please moderate this blog! I agree, the refugee chat belongs elsewhere. Having said that, what to do with bigots who post crap? Ignore?

Anyway, in the interest of good 'ol RE discourse, any guesses as to when we might begin to see detached homes west of Main below 600K?

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Sidelines

StoptheScammers:

Are you intentionally trying to mislead with your links or what?!

The only reference I found to "drug cartel" when searching the site you refer to at comment #237 is in regards to a judicial decision that found that denouncing drug kingpins amounted to political expression because in the country in question, corruption was so pervasive that doing so had the same effect as undermining the government's authority (see this link and search for "drug cartel" http://www.irb-cisr.gc.ca/en/references/legal/rpd… )

So, what gives? Are you just thick? Do you have problems with reading comprehension? Are you just posting links hoping people think you're actually supporting your statements with facts, and hoping no one checks? What??

My question to others here is this, what is more worrisome, a dim-witted bigot or a clever one?

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Informer10

*CMHC regional economist Carol Frketich says things will improve.

* Vancouver developer Rob Macdonald noted that the 2010 Winter Olympics will soon be advertised in the world's media.

* "home prices should firm up over the next couple of months".-Cameron Muir

* B.C.'s property developers remained optimistic Friday at the annual Urban Development Institute forecast lunch, predicting a market turnaround.

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john

Just got back from Shanghai. I was checking out the SUV market there and it's exploding. Everyone wants and SUV. As luck would have it I have many so I can supply them readily. I also own lots of condos in Vancouver which they all want as well. It's good to be me.

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MickeyFinn

Here's a great article: New Foreclosure Wave

http://tinyurl.com/b57aq9

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slade

Where's Drachen?

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Strataman

Close ER down this blog I say. Degenerating big time!

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Informer10

Current property decline won't last long: Rennie.

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blackdog

Olympimess:

Exactly right, some of these gits don't get that it's a blog not a dddddddesperate class room of love me , (please love me , please llllllooook at me, ppppppplease looook at me mommmmmy wahhhhhhhhh ) out to establish thier own ' rightness' with some small pathetic little playpen verbage. Most of us really don't give a rats ass, not the sane ones anyway. Bring it on trolls, your silly shit is a good one second laugh and when you realise how easy it is to tweak some loser into spewing you might clue in. Out yourself for the world to see. Play on dude.

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crashbug

bearette:

Is that what you'd call ' the ostrich syndrome'? It's also like playing peek a boo with an infant, even when you sit right in front of them you 'disappear' when you cover your eyes.

There was a famously sad tape on a guy who was walking out on the beach in Southern Thailand towards the incoming Tsunami wave. paople up the hill were calling him to run but he just kept walking towards the wave that killed him

Sometimes you just can't help people from themselves. I guess thats why they're called sheeple.

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