http://globalnews.ca/news/2531266/o...cedented-vancouvers-real-estate-situation-is/
30 years ago, average house price in 1987 is 153K and this number is 1.8 million in 2016.
http://www12.statcan.gc.ca/census-recensement/2006/as-sa/97-563/p1-eng.cfm
Median earnings of Canadians employed on a full-time basis for a full year changed little during the past quarter century, edging up from 工薪收入 $41,348 in 1980 to $41,401 in 2005 (in 2005 constant dollars).
in 1980s, even with 15% mortgage rate, the annual mortgage payment based on 20% down is 18300 which is 44% of the annual income.
Today with 3% mortgage rate, the annual payment based on 20% down is 82000. Do the math.
House is being used as an investment tool, however, with no supervision. This is way more complicated than just purchase what you can afford or not.