Downtown Vancouver
Housing prices in Toronto and Vancouver are increasing, according to this article. This article outlines the prices of a variety of properties, from single-family dwellings to apartments and condos in these two cities. The average price for a single-family home in Vancouver is just under $1 million. In Toronto, the average price is about $700k. And it does not look like housing prices will plateau any time soon.
I think Vancouver is a great city to live in. Easy access to mountain ranges (skiing, hiking) and to the ocean (boating) make this city one of the best in the world. However, the word that comes to mind when I think of Vancouver, second to beautiful, is expensive. Most people do not have an income to support a million dollar mortgage and the costs associated with a home of this price, such as property taxes. And this price is just the average. I spend a lot of time searching Realtor.ca and most detached homes for sale on the West Side of Vancouver are over $2 million. How is an ordinary person, with a middle-class income supposed to afford living in Vancouver?
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