Vancouver now the most expensive housing market in North America, even more than Manhattan
In yet another shocking Vancouver real estate revelation, a new study has found that housing in Vancouver is more expensive than Manhattan, New York – oh, and also the rest of North America.
The findings follow a study done by researchers for the real estate website, Point2Homes.
In the process, they brought together data on home prices and annual incomes to determine housing affordability in the 50 most populous cities in Canada, the US and Mexico.
Then, they calculated the affordability ratio, also known as the median multiple, which is the median home sale price divided by the median annual family income.