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Timpo · 08-03-2016, 01:43 PM

I doubt this is going to fix the problem.
The amount of money Chinese investors have VS average Canadians have is in totally different level.

The economists say "affordable" housing market is 5 year worth of your annual salary.

The median BC Family income is $76,770
Median total income, by family type, by province and territory (All census families)

$76,770 x 5 years = $383,850

So the ideal average price of housing in BC needs to be brought down to $383,850 in order for Canadians to be able to get into the market.

According to CBC, the average housing price in BC is $508,097
Here's what kind of home $508K gets you in the Lower Mainland - British Columbia - CBC News

Which means, BC housing market is 24% too high for Canadians.

This still doesn't make sense though, since many houses are selling for over $2 million, I don't think 24% discount will make it suddenly affordable.

08-03-2016, 01:43 PM	#7505
Timpo I WANT MY 10 YEARS BACK FROM RS.net! Join Date: Mar 2002 Location: ... Posts: 20,300 Thanked 4,525 Times in 1,357 Posts Failed 4,505 Times in 971 Posts	I doubt this is going to fix the problem. The amount of money Chinese investors have VS average Canadians have is in totally different level. The economists say "affordable" housing market is 5 year worth of your annual salary. The median BC Family income is $76,770 Median total income, by family type, by province and territory (All census families) $76,770 x 5 years = $383,850 So the ideal average price of housing in BC needs to be brought down to $383,850 in order for Canadians to be able to get into the market. According to CBC, the average housing price in BC is $508,097 Here's what kind of home $508K gets you in the Lower Mainland - British Columbia - CBC News Which means, BC housing market is 24% too high for Canadians. This still doesn't make sense though, since many houses are selling for over $2 million, I don't think 24% discount will make it suddenly affordable.