And that's not a good thing. Victoria has come up as tied for 23rd Least Affordable Housing market -- out of 159 markets in Australia, New Zealand, USA, UK, Ireland and Canada -- in the Demographia International Housing Affordability Survey (PDF). We're better off than Vancouver, which clocked in at 13th... but considering the population difference, and 23 is pretty impressive. Basically it comes down to this: in Victoria it takes 6.6 times the median income to afford a house; the Survey considers 3 times the median income or lower to be an affordable market.
Reeeeeally makes me wanna pack up and move to Winnipeg (which, coincidentally, shows up at number 9 on the affordable list at 2.5 times the median income). The weather there is not so bad as you'd expect, temperature-wise, but as hubby points out, they don't advertise the mosquito count.