Housing affordability has fallen to “never-seen-before” ranges in Vancouver, based on a brand new report from RBC Financial Analysis.

Metro Vancouver residents on common must dedicate 88.four per cent of their earnings within the second quarter to cowl the price of residence possession, the September 28 Housing Tendencies and Affordability report reveals.

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That’s up 8.2 share factors up to now 12 months.

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“Shopping for a single-detached house is for the wealthy solely,” the financial institution’s financial…

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