Bingo. Affordability is more about household incomes compared to house prices. Montreal is considerably less affordable than Calgary. The price of house in Montreal is not much less than Calgary, but the average household income is 2/3rds of Calgary.Lower incomes. The average wage in Montreal is way lower than a Calgary, Ottawa or Edmonton. Even though the average price of a house is cheaper, the wages, being much lower, and the property taxes being higher, make it less affordable.
You also have the fact that immigration is driving housing and Montreal isn’t receiving a high rate of immigration relative to other cities like Toronto, Vancouver, or Calgary
From the internet:I wonder why Moncton's household income is at that level?
It is less than 3 hours from Halifax, 2 hours from the Halifax International Airport. It ends up on the wrong side of the 'break the Calgary habit' airport wise. Then its airport hasn't gathered enough flights to aggregate traffic from Fredericton, Saint John, and PEI."Moncton's central location in the Maritimes has the largest catchment area in Atlantic Canada with 1.4 million people living within a three-hour drive of the city"
I wonder why Moncton's household income is at that level?
Moncton might we weird due to City vs CMA. They have a contiguous city and town. Or the report is looking at households with mortgages not all households. Have a link to the report?
I googled this because it didn’t seem to add up and results show Moncton around 70-80k for household income, which makes more sense.From the internet:
"Moncton's economy relies heavily on the export markets, particularly services-based exports". (Read: Call Centres)
"Moncton's central location in the Maritimes has the largest catchment area in Atlantic Canada with 1.4 million people living within a three-hour drive of the city"
I honestly had no idea the are had that many people. I can see why the CFL sees opportunity in the Maritimes.