Flipping Vancouver’s real estate market on its head

Vancouver’s housing crisis has reached alarming proportions, UBC population and public health professor Paul Kershaw told Metro News Vancouver.

He said it takes young people 23 years to save for a down payment on the average Metro Vancouver home nowadays, compared with just five years a generation ago.

“You can’t actually attract people to the region and get them to take decently paying jobs if those wages are out of step to what the cost of housing is today,” said Kershaw. “We’re losing people to other parts of the province and, increasingly, to other places altogether.”