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Published: Sunday, January 29, 2006
Not only is Vancouver Canada's most expensive housing market, it's among the world's least affordable cities to buy a house.
Vancouver is rated as severely unaffordable based on calcuations of median house prices and median household incomes.
That's one of the findings of a housing affordability survey done by Demographia International.
Vancouver is the 15th least affordable housing market in the survey, which covers North America, Britain, Australia, and New Zealand. Los Angeles is at the top of the list, followed by San Diego and Honolulu.
The survey examined both the average house price in each city and the average household income of residents.
Two cities in New York state tied for top spot as most affordable housing markets -- Buffalo and Rochester.
Tied for third spot on the most affordable list are Winnipeg and Indianapolis
http://www.demographia.com/dhi-ix2005q3.pdf
