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Vancouver's living expenses exceed the total income by 195%!

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According to the latest housing report in Canada, the housing prices in many places far exceed the affordability of ordinary families. Vancouver ranks first in the country with a housing price burden rate exceeding 195% of the median income, and Toronto also reaches an amazing gap of 162%. The data shows that the average house price in Canada is 141% higher than the family's affordable level, and the house with more than one million Canadian dollars cannot obtain mortgage insurance, which further pushes up the threshold for buying a house. Although the overall housing price in Alberta is lower than that in Ontario and BC, Calgary attracts immigrants because of the rise of technology industry, and local families need 43 times of annual income to buy average housing. In contrast, Edmonton is the only exception. Due to the abundant housing supply and the fluctuation of the oil and gas industry, middle-income families can still afford the average house price.