Statistics Canada released a report of household earnings based on 2012 reported income recently. Depending on your POV, you may or may not be surprised to learn Calgarians reported the highest earnings in the nation. Thought it may be fun to compare 2012 earnings with 2014 average home prices as reported by CREA for a few towns in the Great White North.
|City||Median income||Average price||Price/Income|
I was surprised by the incomes reported in Victoria. I would have thought they'd be closer to Vancouver. Perhaps not unexpected is the fact that the two most expensive towns to own a home are also below the national average for income. It's not completely clear what the inputs for "average home price" are in CREA's system, but I'd wager they're lumping and smoothing condos, semi-detached and detached.
Useful exercise? Thoughts? I'm sure some of the more number savvy folks around here can improve upon my Grade 3 level analysis in the comments.