Carnie's Comments
We're sharing the latest numbers today from the Saskatchewan Real Estate Association.
Sales were strong in November but a lack of inventory is an issue, especially when it comes to homes priced below $400,000.
You see, the average yearly income in Canada in 2023 is between $55,000 and $60,000. So, the average Canadian can't afford to buy a house that's on the market for more than $400,000.
And one wonders how people out west survive. The average price of a home in Vancouver right now is $1.2 million and the average in Calgary is $635,000.
And you know, it wasn't long ago I talked to a businessman with close ties to the real estate industry. He told me there are lots of young families living in expensive homes in exclusive neighbourhoods with a couple of nice vehicles and a boat in the driveway who can't afford to buy furniture, or a dining room set.
I suppose those are cases of perception vs. reality.
Wed, May 22, 9:00 AM
