There were 4,664 new listings of detached, attached and apartment properties last month, a 15.4 per cent increase from a year earlier, as new listings were 4.8 per cent above the 10-year seasonal average.
There were 4,664 new listings of detached, attached and apartment properties last month, a 15.4 per cent increase from a year earlier, as new listings were 4.8 per cent above the 10-year seasonal average.
I actually did the math on this a while back.
Wage inflation is slower than CPI inflation, so if you used the average wage inflation rate from the last 30 years it came out to reaching Affordable* housing in Victoria, BC in around 80-90 years assuming housing prices stay fixed.
*Affordable is using the government definition of 3x median family income.
Essentially everyone currently alive needs to be dead…