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70 per cent of pre-tax income needed to buy home in Vancouver: survey
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Contributor | Monsieur |
Last Edited | Monsieur Jun 30, 2007 07:51pm |
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Category | General |
Media | Website - CBC |
News Date | Sunday, July 1, 2007 01:00:00 AM UTC0:0 |
Description | VANCOUVER (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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