Alexandra Posadzki, The Canadian Press
Vancouver is the second most unaffordable housing market in the world after Hong Kong, according to a new study of major property markets.
That could spell trouble for homeowners if mortgage rates rise, economists say.
"Given how high house prices are relative to household incomes, you'd only have to see a moderate increase in mortgage rates to have a really huge hit to affordability," said David Madani, Canada economist at Capital Economics.
The annual Demographia International Housing Affordability Survey ranks real estate markets in Canada, the United States, Australia, China, Ireland, Japan, New Zealand, Singapore and the United Kingdom.




















