E-Newsletter

Land-use restrictions hinder affordability

Calgary’s housing has moved into a “moderately unaffordable” position from a “seriously unaffordable” position, according to the 8th Annual Demographia International Housing Affordability Survey.

To determine housing affordability, Demographia establishes a median multiple by dividing a market’s median house price by the median pre-tax income, the result being the number of years it would take to pay for the house if all income was dedicated to the purchase.

Calgary’s median multiple for 2011 is 3.9, down slightly from last year’s 4.0, and lower than the average of 4.5 for all other Canadian cities with a population of 1 million.

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[dcs_info Name="Source" value="Calgary Sun" type="big" link="http://www.calgarysun.com/2012/01/27/land-use-restrictions-hinder-affordability"]

[dcs_info Name="Author" value="Myke Thomas" type="big" link="http://www.calgarysun.com/2012/01/27/land-use-restrictions-hinder-affordability"]