I hope that is a type-o in the list above. 50.5% of the household income to cover costs on housing in 100 Mile House? And that's with a 14% decrease in house prices?

I like the area but seriously, 50.5% seems a bit high to me.

I don't know why. but a lot of people from europe buys in the area. Thus driving up the value.

Buy land now, there not making it anymore.

I think I might be a little out of touch here but to pay over 2 hundred grand for a house is way too much IMO. If there ever needed to be a correction in financials then the price of homes is tops on the list.

IMHO...rising interest rates on mortgages will put the brakes on home sales in B.C. in the near future.
They will change the basic amount that people are willing to pay for home (payment size)and house prices will indeed fall.
Obviously,places that already have lower priced homes (under $200,000)will not be so affected.
If in fact these numbers are even accurate,I think we will see them change within a year.

Mercenary, your a bit out of touch,

the cost of building a house 1036 sf house will be $150,000.00. the cost of the land is 75,000 with all its services. Do the math. if you want up to date homes.

Houses in the area is cheap, compared to the rest of the major centers of the Province.

You can buy a 30 to 40 year old house for under 180k. but be prepared to plow in another 30 to 40k to update it and structural and exterior work.

How much house can one afford, base it on no more than 35% of the household income, and a mortgage rate of no less than 6%. If you qualify for that, it will be tight for the first five years, but then it will get easier.

The problem with this town is, that we have been spoiled for too long with cheap housing, and can not adjust to the houses in the 200k range.

The only thing which really needs to be said about housing in BC is said here:

http://greaterfool.ca/

Know what's driving house and land prices up? Rich foreign buyers in Asia (Lower Mainland) and Europe (rest of BC).

the most one should pay is 2.8 times income, that's the top. Although housing is cheaper up here it is still no bargain. housing is going down...very soon. it should have corrected a couple of years ago, but the feds intervened with artificially cheap interest, easy loans, 0/40 mortgages, and buying mortgages from the banks, taking away their risks. this will not end well.

Define "affordable". Be specific.

The prices of houses is not really that outrageous, what is outrageous is the houses they are building. No one wants to single story, less then 1000 sqf home with lino floors and shag carpets.

If you think the 3000 sqft triple story, triple lot, double garage, hardwood and tile floors, along with all of the modern conveniences should be cheap - you need to wake up to the new millenium - it's not the 70's anymore.

All those nice things cost money - if your happy with the little shack that just keeps the rain off your head and gives you a warm place to sleep, there are still places left for under 100,000. 64 liostings on MLS.

I can't believe they actually compared Vancouver to Northern B.C. There's no comparison in the amenities.

We have SMART cars.

But we do not have SMART houses. Anything but!!!

A lot of people wouldn't want a SMART car, it just doesn't fit their needs. Same with what we'd likely find a SMART house to be, if it was based on the same idea behind that kind of car.

Many would find it too small and too basic. Why not give the Consumers what they want? If that's a SMART car or a SMART house, then fine, they can have it.

If it isn't, and they're willing and able to pay for more, then that should be fine, too.

In any case, it should be THEIR choice. Not one made for them by someone else for some ideological purpose, like supposedly "saving the Earth", or something. Some ideal that's going to be imposed on them whether they agree with it, or its incarnation, or not.

Most new houses sold, like most new cars sold, are NOT usually built to customer order, i.e. not 'customised' to the purchaser's exact tastes before they're built.

Rather they're built "on spec" ~ the car dealer or home builder has a reasonable idea what might appeal to or satisfy most people, taking into consideration the features most seem to want, price most could afford, etc., (based on previous experience in regards to what seems to most readily sell). He builds accordingly.

Like everyone else, he can only sell a limited amount from an "empty shelf". He needs product that people can actually see, and buy, right then and there, if they've a mind to. And, like the car dealer, there'll be some variety, but most of what's produced will be fundamentally much the same ~ not too fancy, not too plain. Is that SMART? Well, from his perspective, and probably his customer's, too, that's what seems to work best for all.

Henry Ford gave people a choice. Black. Four wheels. A motor. A steering wheel. A couple of doors. Windshield. Wipers. Roof. Seats. Floor. An on and on.

Name the parts and they are still basically there today, some 100 years later.

We have not progressed very far since then. Some people may think they have a choice. They do, in one way. But fundamentally they do not. It is the same old thing every year.

The same with houses. You would think that people would be offered vestibules into houses instead of dumping them right into the living quarters from outside a cold winter day. Why is the "front" entrance used so rarely. Why do 80%+ use the "side" entrance, even for guests? Because it is more user friendly?

Gus;-"Why do 80%+ use the "side" entrance, even for guests? Because it is more user friendly?"
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Keeps the carpet clean. When I was a kid we had somewhat stuffy and very proper old English couple living next door. Every year, at Christmas time they'd come over for their annual visit. And they'd religiously trudge through the snow all away around to the side of our house that faced away from theirs, which was where our front door was. (And hardly ever used, so the carpet stayed clean.)

They could've much more easily just come up the back steps and in the back door which faced their back door. But that would never do, for that was the "servant's entrance", you know. And quite beneath their dignity to come in there.

Henry Ford wanted to make what HE thought people should have. Eventually, THEY thought differently. And when Ford wouldn't change they just bought a Chev, or a Dodge, or from whomever else would give them what THEY wanted.