Category : Home prices

There’s a simple yardstick in personal finance about purchasing a home: buyers should aim for a property priced at four times their income or less. But average Canadians’ ability to stick to that simple rule is rapidly fading across much of the country as property values continue to soar.In the pandemic-linked housing boom, average residential property values have become decoupled from average incomes over vast swathes of the county.Here’s a look at average incomes relative to average home prices across markets over the last 40 years. Read more: What you can buy in housing markets across Canada readmore