A new study looking into home affordability, incomes and cost of living across the country has confirmed what Canadians have already known.
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Judged on those three criteria, Ontario fared the worst. The average price of a home in the province is $931,000, while the median annual income was $41,000. The high prices for housing in Ontario and B.C., coupled with both provinces being economic engines in the country, has led to the current situation for potential home buyers.Article content“In B.C. and Ontario, a lot of the big companies are there so there’s more jobs,” Katrina Amurao, a team leader at Katrina & The Team EXP Realty in Vancouver who commissioned the study,“It doesn’t necessarily mean a reflection of the income. There’s just more jobs in those in those provinces.
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