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  70 per cent of pre-tax income needed to buy home in Vancouver: survey
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ContributorMonsieur 
Last EditedMonsieur  Jun 30, 2007 07:51pm
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MediaWebsite - CBC
News DateSunday, July 1, 2007 01:00:00 AM UTC0:0
DescriptionVANCOUVER (CP) - If you can live on 30 per cent of your pre-tax household income, RBC Economics says you can afford to own a home in Vancouver.

The RBC survey shows you'll need most of the other 70 per cent just to pay the mortgage, utilities and taxes on a two-storey home in one of the country's hottest real estate markets.

The survey also shows that two-storey homes are comparatively more affordable in Vancouver, thanks to levelling prices. But the same can't be said for the city's bungalow, townhouse or condo markets.
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