Canada Has The Second Most Overvalued Real Estate of Any Advanced Economy

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The house price to income ratio is a fundamental of housing affordability. It’s the ratio of the market price of a typical property as a share of household income. Rising ratios mean home prices are outpacing incomes for growth. This is considered a deterioration in housing affordability. Falling ratios mean incomes are outpacing home prices, an improvement in housing affordability.

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