Housing Statistics in Canada
Residential real estate sales in 2018: The relationship between house prices and incomes

by Annik Gougeon and Oualid Moussouni
Investment, Science and Technology Division

Release Date: October 7, 2021

Overview

The Canadian Housing Statistics Program (CHSP) uses new sales data to explore property and buyer characteristics in a three-part series that focuses on Nova Scotia, New Brunswick and British Columbia. As the third and final part of this series, this article examines the relationship between house prices and incomes through the price-to-income ratio of properties sold from January 1 to December 31, 2018.

Key findings

  • The median price-to-income ratio in British Columbia was 5.4, more than double that of Nova Scotia and New Brunswick.
  • Properties purchased in the largest cities had the highest price-to-income ratios. This was most pronounced in the Vancouver census metropolitan area, where the median price-to-income ratio was 7.4.
  • The lowest-income buyers purchased properties with the highest median price-to-income ratios, reaching 18 in British Columbia, compared with less than 4 in New Brunswick and Nova Scotia.
  • In British Columbia, properties purchased by at least one immigrant had a median price-to-income ratio over 50% higher than that of properties purchased by non-immigrants.

Introduction

For the first time, data from the Canadian Housing Statistics Program (CHSP) is providing information on the buyers of residential real estate and the properties they purchased from January 1 to December 31, 2018 in Nova Scotia, New Brunswick and British Columbia. The first part of this three-part series provided an overview of the sold properties' characteristics and compared them with the characteristics of all other residential properties, including the geographic distribution of sales, property types, sale prices and living areas.

The second part of the series focused on the characteristics of buyers, including sex, family type, number of buyers as part of a sale, first-time home buyers and immigration status.

As the third and final part of this series, this article examines the relationship between the purchase price of properties and the income of buyersNote by calculating the price-to-income ratio (PIR) at the property level. The heterogeneity of this ratio across income quintiles is examined and the PIR of properties purchased by immigrants in British Columbia.

Infographic 1. How the price-to-income ratio is calculated

Description of the infographic The title of this infographic is "How the price-to-income ratio is calculated".

The infographic contains three labeled images that form an equation showing how the price-to-income ratio is calculated. The left side of the equation contains the first image titled price-to-income ratio. On the right side of the equation are two images showing that the sale price of the property is divided by the combined income of the buyers. Only properties sold in market sales and individual resident buyers are included in the analysis.

This infographic shows how to calculate the price-to-income ratio for the subset of properties and buyers that are part of the analysis.

In Canada, housing affordability has been historically measured by the shelter-cost-to-income ratio (STIR). The STIR is the average share of before-tax household income spent on shelter costs and has a threshold of 30%, meaning that housing is considered as unaffordable when households spend more than 30% of their income on shelter costs (Statistics Canada, 2019a). To expand on this measure of affordability, the Canada Mortgage and Housing Corporation (CMHC) introduced the housing hardship measure, where a household is in housing hardship when there is not enough disposable income after housing expenditures to afford other basic living expenses (CMHC, 2020). This measure differs from the STIR by taking into account the cost of non-shelter items, different types of households such as households with children, and taxes paid and benefits received.Note

The PIR presented in this article is a new measure for the Canadian context that builds on the STIR and the housing hardship measure, as it can be used to monitor housing affordability at the time of purchase. By linking the price of the property sold to the income of its buyer, the PIR provides an indication of the financial burden faced by home buyers when purchasing residential real estate. A higher PIR indicates a larger financial burden, requiring buyers to be more indebted or to rely on additional capital for their purchase.Note This measure can be evaluated over time, with the findings in this article serving as a point of comparison to quantify the effects of the COVID-19 pandemic on housing affordability within Canada.

Internationally, the Organisation for Economic Co-operation and Development (OECD) uses an aggregated price-to-income ratio measure to monitor housing affordability (OECD, 2021). The ratio used by the OECD is calculated as the house price index divided by the disposable income per capita. The income measurement includes all persons in a region, regardless of whether they purchased a property.Note Comparisons are made between countries to evaluate access to housing markets and the effectiveness of housing policies in addressing affordability.

This article furthers the OECD's approach by looking strictly at the income of property buyers, as opposed to including all persons in a region. Additionally, the PIR in this article uses the income data of the buyers of a property as opposed to national disposable income per capita. A comparison of PIRs by geographical areas, where market dynamics can vary drastically, unveils differences in real estate markets across provinces and cities that are often masked when only looking at the national or provincial levels.

This article includes residential properties sold in a market sale from January 1 to December 31, 2018, purchased by individual (persons) resident buyers. The first section explores the heterogeneity of the PIR of properties purchased in Nova Scotia, New Brunswick and British Columbia. The second section furthers this analysis by examining the ratio across income quintiles. Findings on the PIR of properties purchased by immigrants in British Columbia are also presented. The last section concludes with a summary of the findings in this three-part series.

Section 1: Price-to-income ratios in Nova Scotia, New Brunswick and British Columbia

Vancouver is the least affordable metropolitan area examined

British Columbia had a median price-to-income ratio (PIR) more than double that of Nova Scotia and New Brunswick (Chart 1). This shows that buyers in British Columbia had to commit a larger share of their income to housing, relative to those purchasing properties in Nova Scotia and New Brunswick, and points to housing affordability differences across the provinces. These findings are consistent with previous results, which showed that properties in British Columbia had a significantly larger assessment value-to-income ratio compared with properties in Nova Scotia (Al-Tawil, 2019).Note

British Columbian buyers faced higher PIRs, despite earning median incomes 1.2 times higher than in Nova Scotia and 1.3 times higher than in New Brunswick. The contrast was greater when looking at median house prices, where the median price of properties purchased by buyers in British Columbia was 3.1 times higher than in Nova Scotia and 3.8 times higher than in New Brunswick. This shows that even though the income was higher in British Columbia, it was not enough to offset the high prices of properties. Therefore, buyers in British Columbia needed significantly more capital to purchase a property, or relied more on debt, than buyers in Nova Scotia and New Brunswick.Note

Chart 1. Price-to-income ratio in Nova Scotia, New Brunswick and British Columbia

Data table for Chart 1
Price-to-income ratio in Nova Scotia, New Brunswick and British Columbia Table summary
This table displays the results of Chart 1. The information is grouped by Province (appearing as row headers), calculated using price-to-income ratio units of measure (appearing as column headers).
Province Median price-to-income ratio
Nova Scotia 2.0
New Brunswick 1.8
British Columbia 5.4

In the Vancouver census metropolitan area (CMA), the median PIR was 7.4, considerably higher than the Halifax and Moncton CMAs, where the PIRs were less than 3. Additionally, as shown in Map 1, census subdivisions (CSDs) that are closer to the core of the largest CMAs had a higher median PIR compared with CSDs that were farther from the cores in both British Columbia and Nova Scotia.

Map 1. Median price-to-income ratio ranges in and surrounding the Vancouver and Halifax census metropolitan areas
by census subdivision

Data table for Map 1
Price-to-income ratio in and surrounding the Vancouver and Halifax census metropolitan areas by census subdivision Table summary
The title of the map is Price-to-income ratio in and surrounding the Vancouver and Halifax census metropolitan areas by census subdivision. This figure displays two maps of the CSDs in and surrounding, first, the Vancouver census metropolitan area and, second, the Halifax census metropolitan area, as well as their surroundings. Each CSD is coloured from light blue to dark purple based on ranges of the median price-to-income ratio of buyers and sellers in that census metropolitan areaand its surroundings. The darker the colour, the higher the median price-to-income ratio was for that CSD. The map shows that the median price-to-income ratio is higher in CSD's inside the core of the Vancouver CMA, or in the census subdivision surrounding the Halifax CMA .Category 1 is coloured light blue and represents a ratio between 0.0 and 2.0. It comprises 14 CSDs in Nova Scotia.Category 2 is coloured indigo and represents a ratio between 2.1 and 4.0. It comprises 3 CSD in Nova Scotia, including the Halifax CMA. Category 3 is coloured light purple and represents a ratio between 4.1 and 7.0. It comprises 13 CSDs in the Vancouver CMA. Category 4 is coloured purple and represents a ratio between 7.1 and 10.0. It comprises 5 CSDs in the VancouverCMA. Category 5 is coloured dark purple and represents a ratio of 10.1 or more. It comprises 2 CSDs in the Vancouver CMA. Category 6 is coloured pale grey and is used for all areas within Canada where data are not available. Finally, Category 7 is coloured medium grey and is used for the United States of America.
CSD name Median price-to-income ratio
Halifax  
Antigonish, Subd. A, Subdivision of county municipality 1.5
Chester, Municipal district 1.5
Colchester, Subd. A, Subdivision of county municipality Note ...: not applicable
Colchester, Subd. B, Subdivision of county municipality 1.7
Colchester, Subd. C, Subdivision of county municipality 1.8
Cumberland, Subd. D, Subdivision of county municipality 0.4
East Hants, Municipal district 2.0
Halifax, Regional municipality 2.6
Kings, Subd. C, Subdivision of county municipality Note ...: not applicable
Kings, Subd. D, Subdivision of county municipality Note ...: not applicable
Lunenburg, Municipal district 1.6
New Glasgow, Town 1.5
Oxford, Town Note ...: not applicable
Pictou, Subd. A, Subdivision of county municipality 1.1
Pictou, Subd. C, Subdivision of county municipality 1.5
Pictou, Subd. B, Subdivision of county municipality Note ...: not applicable
Pictou, Town Note ...: not applicable
Stewiacke, Town Note ...: not applicable
St. Mary’s, Municipal district Note ...: not applicable
Truro, Town 1.8
West Hants, Municipal district 1.8
Westville, Town Note ...: not applicable
Wolfville, Town Note ...: not applicable
Vancouver  
Abbotsford, City 5.8
Anmore, Village Note ...: not applicable
Belcarra, Village Note ...: not applicable
Bowen Island, Island municipality 6.0
Burnaby, City 8.1
Coquitlam, City 8.7
Delta, District municipality 7.8
Fraser Valley F, Regional district electoral area Note ...: not applicable
Greater Vancouver A, Regional district electoral area Note ...: not applicable
Langley, City 5.1
Langley, District municipality 6.4
Lions Bay, Village Note ...: not applicable
Maple Ridge, City 6.1
Mission, District municipality 6.2
New Westminster, City 5.9
North Vancouver, City 7.1
North Vancouver, District municipality 8.4
Pitt Meadows, City 5.8
Port Coquitlam, City 6.0
Port Moody, City 5.6
Richmond, City 12.2
Squamish-Lillooet D, Regional district electoral area Note ...: not applicable
Surrey, City 7.0
Vancouver, City 7.8
West Vancouver, District municipality 17.2
White Rock, City 7.1

In the Vancouver CMA, high property prices were not offset by high incomes, which led to high median PIRs. Of note, the CSDs of West Vancouver (17.2) and Richmond (12.2) had the highest median PIRs of all CSDs observed. Median sale prices in the Richmond CSD ($683,000) were equivalent to those of the broader Vancouver CMA. However, buyers in the Richmond CSD had the lowest median income ($57,900) in the Vancouver CMA. By comparison, buyers in the West Vancouver CSD earned over double the income of buyers in the Richmond CSD, but purchased properties with a median price over three times higher ($2,330,000).Note The decoupling of property prices and income in the Vancouver CMA may signify that wealth, which is not represented in the income measure, plays an important part in the purchase of properties or that higher levels of indebtedness are required to purchase a home. Additionally, the income measure excludes capital gains and includes only the income reported the year the property was purchased, leaving out all unreported income.

Vacant land properties have the lowest price-to-income ratios

The median PIRs are similar across the different types of properties purchased within each province, with the exception of vacant land, as shown in Table 1. In Nova Scotia and New Brunswick, vacant land properties had a median PIR of 0.2, likely a result of the low price of vacant land.

Buyers may seek to purchase vacant land as an investment, as this property type was more likely to be purchased by at least one multiple-property owner, compared with other property types. This was most pronounced in Nova Scotia, where 83.2% of vacant land properties were purchased by at least one multiple-property owner, compared with 32.8% of single-detached houses. Additionally, buyers of vacant land had a higher median income than those who purchased other property types in New Brunswick and the second-highest median income in British Columbia, following those who purchased properties with multiple units.

Table 1
Price-to-income ratio by property type and province Table summary
This table displays the results of Table 1. The information is grouped by Property type (appearing as row headers), Nova Scotia, New Brunswick and British Columbia calculated using price-to-income ratio units of measure (appearing as column headers).
Property type Median price-to-income ratio
Nova Scotia New Brunswick British Columbia
Single-detached house 2.2 2.0 5.2
Semi-detached house 2.4 2.4 5.4
Row house 2.9 2.5 5.6
Condominum apartment 2.6 2.3 5.4
Vacant land 0.2 0.2 1.6

Section 2: Analysis of the price-to-income ratio by income quintiles

This section categorizes the buyers into five equal groups based on their income (quintiles, hereafter), calculated independently for each province.Note This allows for a comparison of property prices and buyer characteristics across different levels of income at the time of purchase and brings new insights by geographical areas.

Buyers in the lowest income quintile purchase properties worth 29 times their income in Vancouver

Buyers in the lowest quintile had the lowest income relative to the price of the properties they purchased, resulting in the highest median PIR of all the quintile groups in the three provinces. Of note, the median PIR of properties purchased by those in the lowest income quintile was over four times higher in British Columbia than in Nova Scotia and New Brunswick, as shown in Chart 2.

The median PIR of the lowest quintile was especially high in the Vancouver CMA, reaching 28.6. By comparison, the lowest quintile had lower median PIRs in the Halifax (7.3) and Moncton CMAs (4.4). The ratios were significantly lower for those in the top income quintile in the Vancouver (3.9), Halifax (1.8) and Moncton (1.4) CMAs.

Chart 2. Price-to-income ratio by income quintile in Nova Scotia, New Brunswick and British Columbia

Data table for Chart 2
Price-to-income ratio by income quintile in Nova Scotia, New Brunswick and British Columbia Table summary
This table displays the results of Chart 2.The information is grouped by Income quintile (appearing as row headers), Nova Scotia, New Brunswick and British Columbia calculated using price-to-income ratio units of measure (appearing as column headers).
Income quintile Median price-to-income ratio
Nova Scotia New Brunswick British Columbia
Lowest 3.8 3.1 18.0
Second 2.5 2.3 6.9
Third 2.1 1.9 5.0
Fourth 1.8 1.6 4.1
Top 1.2 1.1 2.8

Buyers in the lowest quintile are older and more likely to be repeat buyers

Different characteristics can be observed across income quintiles. For instance, Al-Tawil (2019) used owner-level data to show that properties of those receiving pension income were more prevalent in the lowest income quintile. The data showed that over half of the properties in the Vancouver, Toronto and Halifax CMAs in the lowest income quintile were owned by individuals receiving pension income, compared with around a quarter of those in the highest income quintile.

Buyers in the lowest income quintile were older than those in the other quintiles. In British Columbia, the median age of the buyers in the lowest quintile was 50, while that of buyers in the third and fourth quintiles was 41. The Survey of Financial Security showed that net worth tends to increase with age, as senior-led families reported the highest median net worth in 2019 (Statistics Canada, 2019b). This suggests that since buyers in the lowest income quintile are older, they may have had additional time to accumulate wealth, which could result in more capital saved for the purchase of their property.

In British Columbia, the lowest income quintile also saw the highest share of properties purchased by repeat buyers,Note with a proportion over 90%. In Nova Scotia, the lowest income quintile had the second highest share of properties purchased by repeat buyers (80.5%), following those in the highest income quintile (88.9%). This further suggests that buyers who earned the lowest income may have accumulated wealth through the sale of a previous home, especially in British Columbia.

In British Columbia, buyers in the lowest income quintile purchase more expensive properties than those in the second and third quintiles

The high PIRs across all income quintiles in British Columbia were likely driven by the higher property prices, as shown in Table 2. This was especially true in the lowest income quintile, where buyers in British Columbia had the same median income as those in the other two provinces, but purchased properties that were significantly more expensive.

In Nova Scotia and New Brunswick the median sale price of the properties purchased increases with income, with the lowest income quintile acquiring the properties with the lowest prices. Conversely, in British Columbia, the properties purchased by the lowest quintile were priced 10.9% higher than the properties purchased by the second quintile and 1.8% higher than the third quintile.

Table 2
Sale price and income by income quintile in Nova Scotia, New Brunswick and British Columbia Table summary
This table displays the results of Table 2. The information is grouped by Income quintile, Nova Scotia, New Brunswick and British Columbia (appearing as row headers), Median sales price and Median income calculated using dollars units of measure (appearing as column headers).
Income quintile Median sale price Median income
dollars
Nova Scotia  
Lowest 113,000 30,000
Second 150,000 59,100
Third 180,000 84,700
Fourth 217,000 120,000
Top 249,000 189,000
New Brunswick  
Lowest 85,000 30,200
Second 121,000 52,700
Third 142,000 75,800
Fourth 174,000 107,000
Top 197,000 171,000
British Columbia  
Lowest 499,000 29,800
Second 450,000 65,500
Third 490,000 97,600
Fourth 565,000 137,000
Top 673,000 223,000

Properties purchased by immigrants in British Columbia have a higher price-to-income ratio

Taking a closer look at British Columbia reveals that properties purchased by at least one immigrant had a higher median PIR (7.3) compared with properties purchased by non-immigrants (4.7). Differences are observed across all income quintiles, as shown in Table 3. The largest difference was observed in the lowest income quintile, where properties purchased by at least one immigrant buyer had a PIR (26.5) over double that of properties purchased by non-immigrants (13.1).

When the purchase involved at least one immigrant, the median price of properties purchased by the lowest income quintile was 15.5% higher than the second, and 7.8% higher than the third income quintile. Interestingly, when the purchase did not involve an immigrant, buyers in the lowest income quintile purchased properties with the lowest median price.

There were important differences between the ages of the buyers in the lowest income quintile. The median age of buyers, when at least one immigrant buyer was involved in the purchase of the property, was lower (47), compared with the non-immigrant group (54). No significant age differences were observed in the other income quintiles.

This reinforces the notion that income does not always provide a complete measure of an individual's ability to purchase a home. Many demographic or socioeconomic factors such as age, not captured in income measures, may also contribute to the differences observed.Note

Table 3
Price-to-income ratio (PIR) by income quintile and immigration status in British Columbia Table summary
This table displays the results of Table 3. The information is grouped by Income quintile (appearing as row headers), No immigrant buyers, At least one immigrant buyer, Median PIR, Median income, Median price, calculated using price-to-income ratio and dollars units of measure (appearing as column headers).
Income quintile No immigrant buyers At least one immigrant buyer
Median PIR Median income Median price Median PIR Median income Median price
  dollars   dollars
Lowest 13.1 32,300 396,000 26.5 26,600 625,000
Second 6.3 65,600 405,000 8.3 65,300 541,000
Third 4.6 97,800 450,000 6.0 97,200 580,000
Fourth 3.9 137,000 530,000 4.8 136,000 650,000
Top 2.7 224,000 639,000 3.3 219,000 765,000

Considerable literature on Canadian immigration (Haan, 2007; Ley, 2007; Rea et al., 2008) highlights the propensity of immigrants to purchase real estate. Using data from the Survey of Financial Security, Gellatly and Morrissette (2019) showed that housing assets comprised a larger share of average wealth among immigrant families compared with Canadian-born families. According to Morissette (2019), the increase in housing wealth was more important for immigrant families relative to non-immigrants. The same study showed that a lower proportion of immigrants invest in registered pension plans compared with Canadian-born individuals. Therefore, immigrants may leverage investments in housing as a retirement asset more than non-immigrants, which can lead to differing home buying preferences.

Conclusion

This three-part series examined the characteristics of home buyers and the properties they purchased from January 1 to December 31, 2018, with a focus on Nova Scotia, New Brunswick and British Columbia.

The first part of this series found that British Columbia had the most active housing market of the provinces examined. Vacant land, a key input in housing supply, was most expensive in British Columbia, where homes were also most expensive. Meanwhile, in Nova Scotia and New Brunswick, properties sold in the reference period had larger living areas relative to other properties.

The second part of this series looked at the characteristics of home buyers, showing that home buyer preferences are shaped by a multitude of socioeconomic factors. In particular, the majority of sales in the three provinces involved more than one buyer, highlighting possible challenges faced by single individuals in becoming homeowners. Additionally, the income gap between first-time home buyers and repeat buyers in British Columbia may point to the difficulties of entering the real estate market in areas where property prices are higher. Finally, immigrants purchased more expensive properties compared with non-immigrants. Properties purchased by immigrants were closer to city centres where there is broader access to social services, community support and job opportunities.

The last part of this series examined housing affordability through the median price-to-income ratio. The divergence between property prices and incomes in some areas demonstrated that sources other than income can play an important role in homeownership, especially in the Vancouver CMA. Areas with high price-to-income ratios pointed to the increased financial burden placed on buyers, and the higher capital requirements to purchase a property. Another important consideration not captured in the income measure was accumulated wealth, acquired through previous homeownership, savings or financial support from individuals not included on the title. Examining these other factors would provide a more complete picture of housing affordability.

Note to readers

The data used in this study are compiled from the Canadian Housing Statistics Program (CHSP) and include data on properties sold from January 1 to December 31, 2018, which are linked to data for the reference year 2019. These data are integrated with the Longitudinal Immigration Database and the T1 Family File for tax year 2018.

The analysis in this article focuses on the properties sold in market sales, which involve unrelated and independent parties. Properties sold in non-market sales, such as sales by related parties, sales of special interest, sales of part-interest, forfeitures and foreclosures, are not included. The data is restricted to buyers who are individuals and who filed a T1 tax return form in 2018. Non-individual buyers (such as firms and governments) and non-resident buyers are not included. There may be more than one buyer per property.

Multiple properties may be included in the same sale, where one price was paid for multiple properties. A price adjustment is applied to these properties to estimate the price paid for each individual property.

Properties purchased by repeat buyers are identified as properties where none of the buyers claimed the home buyers' amount (HBA). Claimants of the HBA are individuals who claimed the amount ($5,000) in their federal income tax return for the taxation year in which the home was acquired. Previous CHSP releases identified HBA claimants only. As such, including those who purchased a property with at least one HBA claimant broadens the definition of first-time home buyers. According to the Canada Revenue Agency rules, the claimant and their spouse must not have lived in another home they owned during the preceding four years and must intend to occupy their new home within one year of purchasing it.

Geographical boundaries

The CHSP disseminates data based on the geographical boundaries from the Standard Geographical Classification 2016.

Definitions

Price-to-income ratio refers to the ratio between the sale price of the property and the income of its buyers, reported at the property level. That is, the income of buyers is measured as the sum of the individual income of all buyers on the title of the property purchased.

Sale of property refers to whether a property had a transfer of ownership from one party to another party through a contractual agreement. A property is considered to have been sold on the date that the property was transferred to, recorded in, registered in or otherwise carried in the name of the party who purchased the property.

Market sale refers to an arm's length transaction where all parties act independently with no influence over the other.

Non-market sale refers to non-arm's length transactions, which includes distressed sales, foreclosures, trade and forfeitures, sales of part-interest, and special interest sales.

Property refers to non-arm's length transactions, which includes distressed sales, foreclosures, trade and forfeitures, redemptions, sales of part interest, and special interest sales.

Sale price of property refers to the dollar amount set forth during the sale of the property as per the contractual agreement.

Total income includes income reported by tax filers from any of the following sources: employment income; dividends and interests; government transfers (including non-taxable income); private pensions; registered retirement savings plans; and other income such as net limited partnership income, rental net income, alimony, registered disability savings plans and other income (line 130 of the T1 form). It excludes veterans' disability and dependant pensioners' payments, war veterans' allowances, lottery winnings, and capital gains.

Appendix

Table A.1
Total before-tax income ranges by income quintile in Nova Scotia, New Brunswick and British Columbia Table summary
This table displays the results of Table A.1. The information is grouped by Income quintile (appearing as row headers), Nova Scotia, New Brunswick and British Columbia, calculated using dollars units of measure (appearing as column headers).
Income quintile Nova Scotia New Brunswick British Columbia
Total before-tax income of all buyers by quintile
Lowest Less than or equal to $45,470 Less than or equal to $42,070 Less than or equal to $49,140
Second Greater than $45,470 and less than or equal to $72,050 Greater than $42,070 and less than or equal to $64,020 Greater than $49,140 and less than or equal to $81,370
Third Greater than $72,050 and less than or equal to $99,880 Greater than $64,020 and less than or equal to $89,260 Greater than $81,370 and less than or equal to $115,270
Fourth Greater than $99,880 and less than or equal to $145,130 Greater than $89,260 and less than or equal to $131,340 Greater than $115,270 and less than or equal to $166,120
Top Greater than $145,130 Greater than $131,340 Greater than $166,120

References

Al-Tawil, J. (2019). Homeownership, income, and residential property values. Housing statistics in Canada. Statistics Canada Catalogue no. 46-29-0001. https://www150.statcan.gc.ca/n1/pub/46-28-0001 /2019001/article/00002-eng.htm

Canada Mortgage and Housing Corporation. (2020). Introducing the Housing Hardship Concept. Research Insight. https://www.cmhc-schl.gc.ca/en/professionals/housing-markets-data-and-research/housing-research/research-reports/housing-needs/research-insight-introducing-housing-hardship-concept

Gellatly, G. & R. Morissette. (2019). Immigrant Ownership of Residential Properties in Toronto and Vancouver. Economic Insights, 087. Statistics Canada Catalogue no. 11-626-X. https://www150.statcan.gc.ca/n1/pub /11-626-x/11-626-x2019001-eng.htm

Haan, M. (2012). The Housing Experiences of New Canadians: Insights from the Longitudinal Survey of Immigrants to Canada. Ref. no.: RR20120301.01. Citizenship and Immigration Canada.https://www.canada.ca/en/immigration-refugees-citizenship/corporate/reports-statistics/research/housing-experiences-new-canadians-insights-longitudinal-survey-immigrants-canada-lsic.html

Haan, M. (2007). Do I buy with a little help from my friends? Homeownership-relevant group characteristics and homeownership disparities among Canadian immigrant group 1971-2001. Housing Studies, 22(6), 921-944. https://doi.org/10.1080/02673030701608142

Ley, D. (2007). Countervailing Immigration and Domestic Migration in Gateway Cities: Australian and Canadian Variations on an American Theme. Economic Geography 83(3), 231-254.https://doi.org/10.1111/j.1944-8287.2007.tb00353.x

Morissette, R. (2019). The Wealth of Immigrant Families in Canada. Analytical Studies Branch Research Paper Series, 422. Statistics Canada Catalogue no. 11F0019M. https://www150.statcan.gc.ca/n1/pub/11f0019m/11f0019m2019010-eng.htm

OECD. (2021). HM1.2 Housing Prices. OECD Affordable Housing Database. OECD Directorate of Employment, Labour and Social Affairs - Social Policy Division. https://www.oecd.org/els/family/HM1-2-Housing-prices.pdf

Rea, W., J. Yeun, J. Engeland & R. Figuera. (2008). The Dynamics of Housing Affordability. Perspectives on Labour and Income, Vol. 9 , no. 1. Statistics Canada Catalogue no. 75-001-X. Ottawa: Statistics Canada. Canada. https://www150.statcan.gc.ca/n1/pub/75-001-x/2008101/article/10511-eng.htm

Statistics Canada. (2019a). Shelter-cost-to-income ratio of private households. Longitudinal Immigration Database (IMDB). https://www23.statcan.gc.ca/imdb/p3Var.pl?Function=DEC&Id=103407

Statistics Canada. (2019b). Survey of Financial Security, 2019. The Daily. https://www150.statcan.gc.ca/n1/daily-quotidien/201222/dq201222b-eng.htm

Notes


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