Oh, look: Tom is "cherrypicking" just one of the metrics listed by the OP Troll...
Oh, wait: housing cost wasn't even mentioned in the OP's troll! Oops!
Looks like a "move the goalpost" problem.
In any event, the citation uses a metric that they call the ‘median multiple’
approach, which is defined as the ratio of median house prices to median
household incomes. For example, to get an 11, if the median income is,
say, $100K, then the median home price is elven times that, or $1.1M.
> So, Alan, what in this report is not reality?
Well, the problem with the cited approach is promptly seen when it is compared
to other similar 'affordability' measures, such as the below, which employs a
"Ownership as % of monthly wage" metric:
<
http://247wallst.com/special-report/2017/01/06/americas-25-least-affordable-housing-markets/2/>
Taking simply just a conventional mortgage calculator for a 30 year fixed at today's
nominal 4% rate, one can get a monthly payment, which then when multiplied
by 12 months and divided by the income can result in the same basic sort of
percentage that this company used. For example, using $100K again, 11x = $1.1M,
which at 4%/30yr = $5252/month, which times 12 months = $63,024. Divide this
by the $100K income to self-normalize (as 247wallst did) yields a value of 63%,
which means that 63% is equivalent to this 'Median Multiplier' of 11 (Vancouver).
But when the above page is consulted, it reveals that there's 22 places just in the
USA (let alone worldwide) which have ownership costs higher than 63%...which
illustrates how different metrics can so readily draw different conclusions.
The exercise is left up to the readers to decide which of these two published metrics
carries more weight, as well as all of the others which invariably also exist.
Naturally, show your work and develop a supportable rationale for your conclusion.
-hh