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Homes on West 14th Avenue in Vancouver, B.C. (Ben Nelms For The Globe and Mail)
Homes on West 14th Avenue in Vancouver, B.C. (Ben Nelms For The Globe and Mail)

Detached Vancouver home out of reach ‘by Canadian standards’: RBC Add to ...

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The dream of owning a single-family detached house in the Vancouver region won’t be within reach based on local incomes, even if typical prices in Canada’s most expensive real estate market were to tumble 30 per cent, according to a new report by Royal Bank of Canada.

While policy initiatives may make it easier for some buyers to snap up condo units in high-rises, “owning a single-detached home in Vancouver is unlikely to ever become affordable by Canadian standards,” RBC senior economist Robert Hogue said in a research note Wednesday.

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