{"id":2475,"date":"2016-06-25T11:11:13","date_gmt":"2016-06-25T18:11:13","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=2475"},"modified":"2016-06-24T18:39:27","modified_gmt":"2016-06-25T01:39:27","slug":"vancouver-toronto-q1-numbers-hurt-national-housing-affordability","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/","title":{"rendered":"Vancouver &#038; Toronto Q1 Numbers Hurt National Housing Affordability"},"content":{"rendered":"<p style=\"text-align: justify;\">By all measures, Canadian housing affordability worsened during the first quarter of the year, and the situation in the most overheated metropolitan markets of Vancouver and Toronto played a central role in keeping homes out of reach of all but the wealthiest buyers.<\/p>\n<p style=\"text-align: justify;\">In its June 22 news release, the Royal Bank of Canada revealed that residential real estate price growth in the two markets accelerated, especially in the single-detached sector.<\/p>\n<p style=\"text-align: justify;\">\u201c[An] epic surge in Vancouver prices pushes RBC&#8217;s Q1 affordability measure for the Vancouver area to 87.6%, the worst ever recorded anywhere in Canada,\u201d RBC announced in the release.<\/p>\n<p style=\"text-align: justify;\">\u201cIn the first quarter, RBC&#8217;s aggregate measure for housing affordability in Canada rose 0.8 percentage points to 47.1%, the highest level since the second quarter of 2010,\u201d RBC added. \u201cDeterioration in the Canada-wide condo apartment affordability measure was more modest, as it rose 0.4 percentage points to 35.4%.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cThere is no imminent end to this divided picture because home resale activity is very strong in Vancouver and Toronto and demand in both markets exceeds supply by a wide margin,\u201d RBC chief economist Craig Wright said of the findings.<\/p>\n<p style=\"text-align: justify;\">However, the condition in the less burdened cities was markedly different, with prices for all housing types improving in Halifax, Ottawa, Regina, Saskatoon, and Winnipeg during Q1 2016. Saint John in New Brunswick exhibited the most affordable numbers for the same period.<\/p>\n<p style=\"text-align: justify;\">\u201cIn sharp contrast, we see balanced conditions in most other markets in Canada, which is likely to keep affordability within reasonable levels,\u201d Wright stated.<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/vancouver-and-toronto-q1-numbers-hurt-national-housing-affordability-209371.aspx\" target=\"_blank\">Vancouver &amp; Toronto Q1 Numbers Hurt National Housing Affordability<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By all measures, Canadian housing affordability worsened during the first quarter of the year, and the situation in the most overheated metropolitan markets of Vancouver and Toronto played a central &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-2475","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver &amp; Toronto Q1 Numbers Hurt National Housing Affordability &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver &amp; Toronto Q1 Numbers Hurt National Housing Affordability &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"By all measures, Canadian housing affordability worsened during the first quarter of the year, and the situation in the most overheated metropolitan markets of Vancouver and Toronto played a central &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Vancouver &#038; Toronto Q1 Numbers Hurt National Housing Affordability\",\"datePublished\":\"2016-06-25T18:11:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/\"},\"wordCount\":272,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/\",\"name\":\"Vancouver & Toronto Q1 Numbers Hurt National Housing Affordability &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2016-06-25T18:11:13+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2016\\\/06\\\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Vancouver &#038; Toronto Q1 Numbers Hurt National Housing Affordability\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Vancouver & Toronto Q1 Numbers Hurt National Housing Affordability &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/","twitter_card":"summary_large_image","twitter_title":"Vancouver & Toronto Q1 Numbers Hurt National Housing Affordability &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"By all measures, Canadian housing affordability worsened during the first quarter of the year, and the situation in the most overheated metropolitan markets of Vancouver and Toronto played a central &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Vancouver &#038; Toronto Q1 Numbers Hurt National Housing Affordability","datePublished":"2016-06-25T18:11:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/"},"wordCount":272,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/","url":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/","name":"Vancouver & Toronto Q1 Numbers Hurt National Housing Affordability &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2016-06-25T18:11:13+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2016\/06\/vancouver-toronto-q1-numbers-hurt-national-housing-affordability\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Vancouver &#038; Toronto Q1 Numbers Hurt National Housing Affordability"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/2475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=2475"}],"version-history":[{"count":2,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/2475\/revisions"}],"predecessor-version":[{"id":2477,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/2475\/revisions\/2477"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=2475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=2475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=2475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}