| Vancouver has crept up the ladder of unaffordable | | | | places included among the "most unaffordable" |
| cities around the world, with the median house now | | | | markets were Los Angeles-Orange County, in the No. |
| costing almost eight times the median income here. An | | | | 1 spot, San Diego, Honolulu, San Francisco and London, |
| international study of housing affordability done by | | | | England. Victoria was tied with Sacramento, Calif., |
| Demographia places Vancouver as 13th worst in the | | | | Sarasota, Fla., and Melbourne, Australia. According to |
| world for affordability -- up from 15th last year -- since | | | | the report, it takes 6.6 times the median income to buy |
| it takes 7.7 times the median income of $58,100 to buy | | | | the median-priced house at $370,500 in those cities. |
| the median house at $448,800. This year's study also | | | | Regina was the city ranked as the most affordable in |
| included Victoria for the first time, ranking it at 23rd | | | | the Demographia report. Overall, the unaffordable cities |
| among the 25 most unaffordable housing markets in | | | | have just become slightly more so.Cox and fellow |
| the world.The report is the third annual study done by | | | | author, New Zealand property-investment manager |
| Demographia, a company owned by American | | | | Hugh Pavletich, both blame the effect of |
| public-policy professor Wendell Cox, which looks at | | | | smart-growth-style policies and strong planning controls |
| housing prices in six major industrialized countries.Other | | | | for globalunaffordability. |
