Vancouver housing is ‘impossibly unaffordable,’ says new report

Vancouver is among the least affordable places to live, with housing prices soaring. The city has been ranked as "impossibly unaffordable" for 16 consecutive years. The report highlights the challenges faced by young people, minorities, and immigrants due to the housing crisis. Factors like restrictive land use policies contribute to the skyrocketing housing costs. Vancouver's median household income is $90,000, while Toronto's is $97,000. The report emphasizes the need to address the root causes of the housing crisis beyond just the symptoms.