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Vancouver: World’s Least Affordable City?

Vancouver_Downtown-595A new report says that Vancouver is the least affordable city in the world, when measuring median housing sale prices to median household incomes, according to an article from The Canadian Press.

The report, released by Demographia International, a group that wants to encourage major cities to allow more housing to be built on the fringes of cities, said other Canadian cities — notably Toronto and Montreal — are also highly unaffordable.

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But Brent Gilmour, acting CEO of the Canadian Urban Institute, said the report is too simple and doesn’t account for all kinds of other factors, including shorter commute times, less need for cars by people who live in the city, and other elements of city planning that make city neighborhoods better options.

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Victor - who has written 269 posts on Canadian of the Week.


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2 Responses to “Vancouver: World’s Least Affordable City?”

  1. Expensive, yes, but have you seen this viral video on YouTube … amazing endorsement for next month’s host of the 2010 Winter Olympics: http://www.youtube.com/watch?v=4fu3MkvC3w0

    As a former resident, Vancouver gets my vote for Canadian on the Week! :)

    Cheers,
    Susan

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