The large-scale transfer of inter-generational wealth is a sign this country is reverting to the harsh class system that once dominated Britain, France and Russia
“… Housing prices in many parts of the world are becoming progressively disconnected from local wages. And Canada’s problem is among the worst.
Housing is considered “affordable” when the ratio of price to average household income is about four to one. But in Vancouver, according to Demographia, the ratio is among the the most alarming in the world at 13 to one. In Toronto it’s 9.9 to one. For comparison, London, England, an international financial hub, is 8.6 to one. And in Seattle, a high-tech headquarters, it’s just 6.6 to one.”
