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Mortgage Broker News | 22 Aug 2011, 09:00 AM Agree 0
Housing affordability concerns in the second quarter are helping explain a slower summer for brokers across much of the country, with an increasingly expensive Vancouver now at risk of a downturn, according to a new report.
  • Vans T. LeBlanc, MA, BBA, | 25 Aug 2011, 03:16 AM Agree 0
    "But the measure for the same bungalow in Vancouver jumped a whopping 10.4 percentage points in the quarter to an all-time high of 92.5%."
    I feel the need to play devil's advocate here.
    The above statement, unless it is adequately qualified and completely explained, can be very misleading and should not even be published for public consumption, unless we really want to be sensational.
    Realistically, is there any historical, empirical or even anecdotal evidence to suggest that there are real ordinary people (or even not-so-ordinary people) who will spend 92% of their income on housing?
    Our industry should show a minimum level of responsibility for providing the facts when we publish information for public consumption.
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