My only question is did they use a national median for income and house prices or did they use median income and median for each sub-national jurisdiction and then take a median of that?

The reason I ask is that i am arealtor in Downtown Vancouver and housing markets and regional economies across Canada are VERY different. For example the economy of Alberta is totally different from the economy of Quebec as is their median incomes and house prices.

Quebec has been losing population and economic vitality in relation to its neighbours for a 100 years and Alberta has had consistently the highest population growth and economic growth numbers in Canada and at times North America for decades.

Comments?

Does this ratio take into account things like insurance, taxes and upkeep on an owned residence? These are significant costs of home ownership, esp. insurance on the Gulf Coast and taxes in some areas. All these things are built into rent.

What happens if/when Europe, or the US reach near zero population growth?

Who is gong to buy the 1 Million dollar McMansions from the retiring baby boomers? A coworker of mine spends 600$ a month to AC his in the summer. That is what I pay in RENT! What is he going to do with that place when energy expenses get out of hand again? Needless to say, he is underwater, but can afford it.

I guess I can see why Bush and the Democratic congress were such big fans of amnesty for illegal immigration.

http://www.globalpropertyguide.com/investment-rating

http://www.marketwatch.com/news/story/Shine-might-wearing-off-Manhattan/story.aspx?guid=%7B179BF410%2D84D2%2D48D2%2D9B7A%2D2D7DDD1F7174%7D

I like the bit where Dolly Lenz says “everyone in the world wants an apartment in New York City..”

Yes, but they don’t want to buy apartment 1F for $1 million, especially when it has a lovely view of the rats patronizing the trash cans, the dingy interior courtyard and Mr Friedman in his underwear making coffee at 6.45am, (yes, and this is on Central Park West).

Scott in Chicago

Scott in Chicago