Rough Estimate

rough estimate: If house prices rise from current levels by an average annual rate of 2.5 per cent over the next 10 years, the average Canadian home will cost half a million dollars. By my rough estimate, that would be a realistic purchase only for families with pretax income of at least $125,000 or so. Just for context, the most recent Statistics Canada numbers put the median total family income at $72,240 in 2011. More Related to this Story, according to Globe and Mail. ROB CARRICK The rise of the miserable Canadian homeowner How Canadas housing market will look in 2024: If you re wealthy, its healthy. ROB CARRICK Why Canadian homes are more unaffordable than ever (www.immigrantscanada.com). As reported in the news.