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Condominium construction in Vancouver reflects the drive ‘toward higher density,’ a PricewaterhouseCoopers officials said. (John Lehmann/The Globe and Mail)
Condominium construction in Vancouver reflects the drive ‘toward higher density,’ a PricewaterhouseCoopers officials said. (John Lehmann/The Globe and Mail)

Forget the yard, first-time buyers told to think condo, rentals Add to ...

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Don’t worry about the backyard because there won’t be one. The housing industry is renewing its push to tout condo living as the ticket to entering Canada’s two most expensive markets.

First-time buyers need to face the economic reality that prices for single-family detached houses in the Vancouver region and Greater Toronto Area will remain well above local incomes over the long term, according to a report by PricewaterhouseCoopers LLP and the Urban Land Institute.

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