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I would like to know how they calculated these figures. 10% for Ontario??? Everybody else at 20%+??? Such difference doesn't make sense to me.
If you have seen the price increases in say Saskatchewan, they do in fact make sense. Remember, that box isn't talking about the actual price-income ratio, but the
change in the price-income ratio, vs. the long-time trend.
Toronto has been traditionally high for the price to income ratio, but the
increase in that ratio hasn't moved esp. fast in recent years when compared to other regions.
OTOH, while the actual price-income ratio been traditionally quite low in Saskatchewan, that ratio had been increasing by leaps and bounds in recent years. It's still higher in Toronto by a long shot, but it's a lot closer now in Regina than it was 10 years ago, because the rate of increase in Regina has been much higher.
Yep. London, Ottawa, Hamilton and Kitchener all have much lower p/i ratios than the national average, whereas Toronto is much higher than the national average (4.62 vs 4.13 in 2008).
Unless something drastically changes, that in itself doesn't really matter. Toronto has always cost more than Kitchener, and will continue to cost more (with a higher price-income ratio) for the foreseeable future.
However, what they want to know is how fast that is changing.