A study from the Frontier Centre for Public Policy places London near the top of affordable housing in Canada as measured by median house prices divided by median annual income. On average, it costs London home buyers three times their annual income to buy a house; of 35 Canadian markets surveyed, London is the sixth most affordable in Canada by this metric. But as David MacLean of the Canadian Taxpayers Federation notes in a link sent to us by a reader, housing prices are a mixed message: while low prices are certainly a benefit to residents, low relative prices are often signs of a moribund economy, a conclusion sustained in London by its relatively low median family income as well.
Monday, January 22, 2007
Posted by MapMaster on Monday, January 22, 2007