When it comes to home prices vs. income, Canadians are like couples with mismatched libidos … Okay, bad analogy here.
The truth is we got a real serious Mismatch: Income and Expense Volatility Are Undermining Households
- Canadian homes prices are the 4th priciest in the world. Whereas Canadian income (GNI) ranked 11th in the world
Canadian home prices in the Great White North has settled comfortably among the world’s most expensive housing markets, a third consecutive fourth-place ranking out of 55 countries.
The rankings were compiled by Knight Frank, a global real estate consultancy based in London.
Its Global House Price Index ranks housing markets for 55 nations based on annual price growth … Canada’s housing market ranked fourth overall in the first quarter this year after average home prices grew by 13.5 per cent.
In fact, the Great White North has seen steadily increasing annual price growth in every quarter since 2015, as the following graph shows.
The latest report showed that Canada was one of 11 countries to see double-digit price growth in the year up to March 2017; it trailed only Iceland (1st), Hong Kong (2nd) and New Zealand (3rd)… Worldatlas.com
Kindly note that we are talking average home prices here, which is about $500K a pop according to mainstream media. If you were to take the realistic home prices in Vancouver and Toronto into cosnideration … I believe Canadian home prices could be the 2nd Priciest, realistically speaking.
Gross National Income helps determine the average wealth of a country and of its general population.
Gross National Income (GNI) per Capita By Country
|Rank||Country||Gross National Income per capita (US Dollars)|
What do you say, Mr. Trudeau?
When can average Canadian owns a home that looks like this one …
Fantastic Pre-Civil War Home in Charleston SC