20% down payment is ridiculous these days. For the median home of 370k that’s 74k you need to have lying around.
Double that for Canada
$2,172,613 ($1,586,224.75 USD) if you want a detached in the Vancouver area
Condos bring the average down as they only cost $816,356 ($596,021.52 USD) which is pretty affordable as far as housing is concerned around the city
Detached homes shouldn’t even exist in Vancouver metrocore anymore so, it makes sense to be a fortune
It was the Vancouver area so it includes the surrounding areas but you are correct
West coast is so fucked.
Glad I got my house two years ago. I was hesitant at the time because houses were going so fast you barely had time to think about it, get second opinions, or really anything.
Get in line, Salary. We’re all trying to survive this market, and we were here first. ☝🏽
And that’s just to pay the mortgage, never mind things like food or saving to retire or even the 20% down payment the graphic assumes that you’ve made.