Inflation, rising interest rates create caution across Metro Vancouver’s housing market VANCOUVER, BC –…
To look at Vancouver and Victoria is to see two places where median household incomes grew steadily over the course of a decade.
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But they’re also two places where the money people make can’t keep pace with the growth of shelter costs. That’s according to data attached to a release by the Canada Mortgage and Housing Corporation (CMHC) last week.
The release looked at the income of homeowners and renters in census metropolitan areas (CMA) across Canada from 2006 to 2016.
It showed that homeowners’ household income was “roughly double that of renters” during that period. That was certainly true in the Vancouver CMA, as the following chart shows: