Vancouver Canada 'My home is worth millions - but young people are priced out of this city'
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She was just a "regular" person when she and her husband bought their family home in Vancouver 25 years ago for a modest sum of $312,000 in today's dollars.
That same property is now worth several million.
In the city on Canada's west coast, Ms Yamauchi's story is as common as the rainy weather. The average price of a detached home in Vancouver in 2000 was around C$350,000. Now, it is more than C$2m.
As a member of Generation X, timing was on her side. The same, she says, cannot be said for younger people, who - without "the bank of mom and dad" - are effectively priced out of the city they grew up in.
Canada as a whole has one of the highest house-price-to-income ratios among developed nations.
BBC 18 April 2025
A mortgage binge fuelled by rock-bottom interest rates has left each country with enormous quantities of household debt.
As a share of disposable income, such debt sits at 185% in Canada, 202% in Australia and 203% in Sweden.
Catherine Mann, the OECD’s chief economist, said a “number of countries”, including Canada and Sweden, had “very high” commercial and residential property prices that were “not consistent with a stable real estate market”.
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