The Demographia International Housing Affordability Survey finds Vancouver housing to be 'severely unaffordable', and 15th worst worldwide.
"Vancouver is the most unaffordable city in Canada for housing, and ranks 15th worst in the world, according to a study released last week. The Demographia International Housing Affordability Survey found Vancouver had a housing affordability index of 6.6, measured by the median house price as a ratio of median income. Anything above 5.1 is considered 'severely unaffordable,' the report said. Los Angeles topped the world's cities with an index of 11.2, followed by San Diego and Honolulu, at 10.8 and 10.6 respectively. The most expensive city outside North America was Sydney, Australia with an index of 8.5. The survey looked at median house prices and incomes in 100 cities in the United Kingdom, Ireland, Australia, Canada, New Zealand and the United States."
Thanks to Craig Townsend
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