This should be fairly self-explanatory, I’ve graphed data from BC Stats comparing the increase in local incomes to the run-up in house prices from 2000 to 2007. Why only up to 2007? Because that’s the last year I can find local income statistics from Revenue Canada.
The house price data comes from the house sales PDF link at the bottom of this page at BC Stats, while the neighborhood income statistics come from this page, and are available as a PDF or CSV. If anyone can find any other interesting data in that haystack I’d be happy to post it here to share with the VCI community.
So how about that growing gap between incomes and house prices? Can house prices grow that much faster than incomes indefinitely? We’ve already seen how well that worked out in the US.