Good news real-estate investors!
Metro Vancouver housing affordability is nearing the worst ever seen in Canada.
That’s according to RBCs housing affordability index:
The index, which captures the proportion of pre-tax household income needed to service the costs of owning a home, rose the most for B.C. among all provinces.
The measures increased by 2.1 percentage points to 71.4 per cent for bungalows, and by 0.4 percentage points to 33.3 per cent for condos.
“Poor housing affordability at the provincial level, particularly in the single-detached home segment, is a reflection of the extreme situation in Vancouver,” said Craig Wright, senior vice-president and chief economist, RBC.
This can only make our real estate more desirable as sales continue at a brisk pace. Read the full article here.