Your report showed that in Toronto, a household would need to spend 84.8% of its income to cover the cost of owning a home. In Vancouver, you referred to a “full-blown crisis”, where it now takes 106.4% of median household income to own a home.
Your chart refers to 140% of household earning for a single detached home, which is where it has skyrocketed in the Vancouver area.
As well, we now hear that chronic homelessness is up 38%. The federal housing advocate referred to homeless encampments as “a physical manifestation of exactly how broken our housing and homelessness system is” across Canada.
Is this the worst housing affordability that Canada has ever seen?