skip to Main Content

Vancouver needs more Amazons and Microsofts to improve affordability, experts argue

By JENNY PENG for Vancouver Sun

VANCOUVER—New data published this month crowning Vancouver as the North American city with the biggest gap between home prices and incomes highlights the city’s lack of corporate heavyweights that would drive up residents’ earnings.

Andy Yan, an urban planner and director of Simon Fraser University’s City Program, crunched the numbers for 117 North American metropolitan areas using 2016 census data in an attempt to get to the root of Vancouver’s unaffordability problem.

Vancouver Real Estate News, Market Updates, Insider Tips, Stats, & Analysis

Sign up for insider real estate news & tips from our podcasting team.

Are you a realtor? Click here
Selling Your Home? Click here

  • Reload
  • Should be Empty:

He found that Vancouver ranked 50th in terms of annual median income at $73,000 while having the third-most expensive housing — with median prices at $800,000.

“Some people say that those who live in Vancouver have an inherent discount to their labour to live in paradise,” Yan said. “As such, the labour force here just accepts being paid less, accepts that as part of the trade-off to living in Vancouver as opposed to, say, Calgary or Ottawa.”

Continue reading the full story here >>
 

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

As Seen and Heard On

Media enquiries and press contact info: media@vancouverrealestatepodcast.com

© 2019 Matt Scalena PREC* & Adam Scalena PREC* , all rights reserved • Site MapBy Line49 Web Design, Vancouver BC

*Considering a real estate transaction? One of the first decisions you will need to make is whether you should work with a licensed real estate professional who will represent you. Take a moment to read this important consumer protection information from the Real Estate Council of BC. This form explains the special legal duties that real estate professionals owe to their clients. CLICK HERE and please call 778-847-2854 or 778-866-4574 immediately if you would like to discuss.

Back To Top