Home prices in Vancouver quadruple

Home prices in Vancouver quadruple
14/06/2019 , by , in INTERNATIONAL

Housing affordability is still far out of reach for millennials across the country, a new report says, with the average price of a house in Vancouver perched a particularly unattainable four times higher than what those prospective buyers could safely afford to pay.

The study, called Straddling the Gap, looked at the state of housing affordability in every Canadian province and their major cities.

It found millennial Canadians — those between the age of 25 and 34 — are stuck in a place where earnings aren’t rising enough to keep pace with housing prices.

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