Infographic: housing market prediction paints sobering image of Vancouver real estate

Canada's national housing agency, the Canada Mortgage and Housing Corporation (CMHC), released the following infographic (see it in a larger window here) which paints a sobering image of Vancouver's real estate market when compared to the rest of the country.

Take a look at the average resale price of a home in Canada ($372,400), B.C.’s provincial average ($564,800), and compare that with the average price of a Vancouver home (over $1 million since 2010). That should give you a sense of just how big a task Robertson, Olga Ilich and their affordable housing “task force” will face in the coming years.

The graphic also predicts that housing starts in British Columbia will be the second highest in the country with a 7.1 per cent increase in 2012.

And remember, that $1 million price tag is an average. There are tonnes of homes in the city that are way above that. Evidence: