Real Estate Investment Canada

How does Canada support a housing market priced at around $400,000 median with an average wage of $50,000?

This sames a lot worse than the US housing bubble. Specifically in the US most people economic type people view that local housing markets should reflect approximately 3x median income. Canada is around 8x the median income. This means that the average person can probably not afford the average house.

Public Comments

1. I have a lot of clients in the 400K price range and they fall into several groups, move up buyers who have big down payments, first time buyers where both spouses work, downsizers moving from much more expensive homes and those who have inherited money. Many of the first time buyers look for a house with a rental unit and a lot of people start out with a fixer upper or a condo or co-op and then move to a house later. Many of the people with lower incomes just rent all their lives.