Pacific Place Group website at:

www.pacificplacegroup.com

Real Estate website at:

www.pacificevergreenrealty.com

Holidays & Events

October 4 Thanksgiving Day

October 6 CIBC Run for a Cure

October 31 Halloween

October Seminars

October 2 TUGO

October 3 Canada Life

October 9 Empire Life - Life

October 16 Empire Life - Inv

October 23 Pacific Blue Cross

October NEWSLETTER

Did you know...

Vancouver—Head office Surrey

#102—1245 W. Broadway Surrey Central Business Park

Vancouver, BC V6H 1G7 #100-7565 132nd Street

Tel: 604-267-1833 Surrey, BC V3W 1K5

Tel: 778-945-9611

Burnaby Richmond

Metrotown Centre - Metrotower 1 Airport Executive Park

#2129-4710 Kingsway #130-10271 Shellbridge Way

Burnaby, BC V5H 4J5 Richmond, BC V6X 2W8

Tel: 778-945-6900 Tel: 236-521-3799

PPG Locations

Administration Roles and Responsibilities — October 1, 2019

Wayne Yu Corporate Manager 604-267-1833 EXT: 231

Yim Yu Account Manager 604-267-1833 EXT: 231

Mimi Sum Office Co-ordinator 604-267-1833 EXT: 232

Shan Shan Chang Office Administrator (Rmd) Tel: 236-521-3799

Loveleen Lotey Office Administrator (Surrey) Tel: 778-945-9611

Pacific Place-Financial Services Inc./Bridgeforce Pacific Place (Financial Services Division) Tel: 604-267-1833

Hendry Liu General Manager EXT: 235

Jim Lew Director of Business Development Tel: 604-558-7610 or EXT 235

James Qiu Sales Manager Tel: 236-521-3799

Shalendra Kumar Sales Manager (Surrey) Tel: 604-558-7616

Mohan Poddar Branch Manager (Surrey) Tel: 604-558-7618

Mimi Sum Manulife Investments (Van office) 604-558-7611 or EXT: 232

Mable Wong New Business: Manulife Life, HR, PPG Compliance Tel: 604-558-7611 or EXT: 251

Mkt materials (Van), Software

Angel Li Policy Service, Travel Insurance, New business Equitable Life Tel: 236-521-3795

Manulife investments (Rmd office), Mkt materials (Rmd) or 604-558-7614

Elia Chan Contracting, New Business: BMO, IA, IA Excellence, Group Tel: 604-558-7608

Manulife Investments (Bby), Software updates

Winnie Chan Commissions, Marketing Materials (Bby) Tel: 604-558-7614

Evelyn Ye Commissions (Bby)

Tiffany Tang New business/Investments: Assumption , Canada Life, CPP, DFS, Tel: 604-558-7609

Empire Life, Humania, Ivari, RBC, SSQ, Sunlife, The Edge,

Vancouver Burnaby Surrey Richmond

Pacific Place-Insurance Services Inc. (General Insurance Division) Tel: 604-267-1833

Kate Zhang House: New Quote & Endorsements, Claims EXT: 228

Angus Yiu ICBC, IT EXT: 243

Michael Hu Condo Quotes EXT: 239

Tiffany Yu Renewal, Reminder and payments EXT: 226

Emily Wu Renewal, Reminder and payments EXT: 226

Evan Shi Condo Quotes/ICBC EXT: 223

Yuki Li ICBC, ICBC Batching EXT: 237

Hendry Liu Commercial Insurance EXT 235

James Qiu Commercial Insurance EXT 235

Pacific Place-Arc Realty Ltd. (Real Estate / Property Management Division) Tel: 604-267-1833

Lo-Ming Lee Managing Director EXT: 233

Annie Fong Managing Broker EXT 233

Jason Wood Business Development Consultant EXT: 233

Jimmy Ng Property Management Tel: 236-521-3789

Yiyi An Administrator/Real Estate Conveyancer EXT 224

Pacific Evergreen Realty Ltd. (Real Estate Division) Tel: 604-267-1833

David Yang Managing Partner Tel: 604-250-3696

Lo-Ming Lee Managing Director EXT: 233

Annie Fong Managing Broker EXT: 233

Jason Wood Business Development Consultant EXT: 233

Julia He Real Estate Conveyancer EXT: 224

Teresa Chiang Real Estate Conveyancer EXT 241

Sherry Yu Marketing, Graphic Designer (PER) Tel: 236-521-3799

Vancouver Burnaby Surrey Richmond

Company Software Name Version Release Date Download

Assumption Life LIA 10.3 Feb 2019 Download

BMO Insurance The Wave 40.0 July 2019 Download

Canada Life Concourse 3.9 June 2019 Download

Canada Protection Plan eAccess 3.5.1 Nov 2017 Download

Desjardins Insurance Online Illustrator 7.8 N/A Website

Empire Life Envision Plus 11.4 April 2019 Download

Equitable Life Sales Illustration 2019-2 June 2019 Download

Foresters Financial Sky 2.0.175 Aug 2019 Download

Humania Assurance Illustration 2019.1 May 2019 Download

IA Financial Interface 8.7.0 July 2019 Download

IA Excellence Pyramid 4.8.0 Sept 2018 Download

Ivari Lifeview 12.9 July 2019 Download

La Capital Illustration System 9.6.0 July 2019 Download

Manulife Financial Diamond View 16.05 May 2019 Download

RBC Insurance Illustrations 10.7 62B46 July 2019 Download

SSQ Illustration Software 8.0 May 2019 Download

Sun Life EOS 7.2 July 2019 Download

Illustrations 4.1.2 July 2019 Download

Online Illustrator N/A N/A Website

UL Mutual Illustration Software 2.10.0 April 2019 Download

Insurance Software - Current Versions

2019 Summer Series Webinar

Dividend Scale Change for Empire Life Participating Plans

An EZ way to conduct your out of town business

BMO Smart App : All plans. One app. That’s smart.

Webinar: Welcome to Assumption Life - Learn the Basics

See the benefits for advisors

Personal Health & Dental Plans

Grad program 2019/20 changes

Express Elite - When we say “no Medical”, we really mean

NO MEDICAL

For clients who prefer to pay bills online

Save the Date - iA Financial Group - RRSP Roadshow

The new and improved ivari app is here!

LaCapitale - Newsletter

Introducing the Manulife Life Lessons Scholarship Program

Video is the new Business Card

Declined Critical Illness case? Humania has the solution!

Investment option changes for Destiny Universal Life

New simplified procedure for non-smoker rates

Solutions Magazine

The credit insurance rider now available at UL Mutual

“It’s not your APTITUDE, but your ATTITUDE that determines your ALTITUDE”

-Zig Ziglar–

Do you believe that a positive attitude can give you a better and successful life? I believe they are directly related and having a positive, encouraging attitude will help boost your business and make you more successful in all areas of life.

Successful entrepreneurs have many qualities, but one of the most important ones are persistence and attitude. Successful businesses often have their failures, but they pick themselves up and keep on going. What do you do if you’re not a naturally persistent person? You should change the way you think. One of the most important steps you can take to reach your potential in life is to learn to watch your attitude and its impact on your work performance, relationships and everyone around you.

We all have a choice. We can choose to be positive and encouraging, or we can choose to be a pessimist and have self-pity. It’s a power we all have. Each of us encounters hard times, hurt feelings and pain. The key is to realize it’s not what happens to you that matters; it’s how you choose to respond. Your mind is a computer that can be programmed. You can choose whether the software installed is productive or unproductive. Whatever you put into it is reflected in what comes out. Here are six simple tips to keep you on track:

1. Visualize your success 2. Lift other up not put them down 3. Be an encourager 4. Be the most enthusiastic person you know 5. Don't forget to laugh - share your humor 6. Exercising and taking care of yourself

Quote of the month

Pacific Place Financial Services Annual Conference

Qualification Period: January 1, 2019—December 31, 2019

Travel Period: 2020

Qualification: 75,000 FYC

Be part of this annual PPFS conference on us!

This event is not to be missed!

There is lot’s of time left to submit cases from all carriers.

Check with Mable or Mimi to see how close you are to attend.

Holding Out as an Insurance Licensee

Licensees must present themselves to the public (“hold themselves out” to the public) in the way they are licensed, so that the public knows with whom they are dealing. You must be licensed the way you are doing business, and do business the way you are li-censed, including using licensed corporate or trade names (i.e. ABC Insurance Services may not present itself as ABC Insurance):

Letterhead, business cards, signage, websites, and advertising must properly reflect the name(s) shown on the licensee’s licence and the agency or firm the individual is authorized to represent.

Agents and salespersons who primarily deal with a single product or product line should be careful not to use the product name in their marketing strategies in a way that may mislead a member of the public into believing it is a trade name — such as answering a phone call with a product name.

Licensees are also reminded that they must not present themselves to the public in

such a manner as to suggest that they are a registered insurance company, rather than

an agency. Section 252 (2)(i) of the Financial Institutions Act states "a person commits

an offence" when they "give a false impression that the person is a trust company or an

insurance company". It is Council's position that these requirements also extend to cor-

porate logos and that the agency's registered legal name or trade name should always

accompany the logo.

Attention All Advisors…

Please ensure you are holding out properly!

Please check on the Insurance Council’s website and see if you are compliant.

We have noticed many agents are licensed under their Chinese name, they are not

supposed to add their English name .. .even with brackets.

Eg: Heng Liu (Hendry)

To be compliant with the Insurance Council of BC, if you wish to use another name

other than your registered name you must add that in the change name form.

For example, Heng Liu, he can only use Heng Liu on his business card because

that's shown on the licensee directory. In order for him to use the name “Hendry” he

has to fill out change of name form and add Hendry in under " Also known as".

If you have any questions please contact your compliance officer Mable.

CE Credit Requirements

Applies to - Life and A&S license holders in the Province of British Columbia

Requirement:

All licensees are required to meet the continuing education requirements outlined below for each li-cense year. A license year runs from 01JUN to 31MAY annually. If a licensee has been licensed for any part of a license year, the individual must meet the full number of continuing education requirements, whether the license was active or inactive.

If you have an approved designation* you must have 5 technical hours of continuing education; OR

If you have been licensed as a life insurance agent for at least 5 of the last 7 years in a Canadian jurisdic-tion, and you do not have an approved designation you must have 10 technical hours of continuing educa-tion; OR

If you have not been licensed as a life insurance agent for at least 5 of the last 7 years in a Canadian ju-risdiction and you do not have an approved designation you must have 15 technical hours of continuing ed-ucation.

Categories - Only technical material will qualify for continuing education. Technical education directly relates to:

Life Insurance Products;

Financial planning, provided the education is geared to life insurance and not a non-insurance sector, such as securities or mutual funds;

Compliance with insurance legislation and requirements such as Council’s Code of Conduct, Council Rules, the Insurance Act, Privacy Legislation and anti-terrorism/money laundering legislation;

Ethics or

E&O

Proof of Compliance - Attest completion on renewal, subject to random audit

Consequence of non-compliance - Failure to comply with the continuing education requirements may result in a suspension of license until the licensee has earned the required continuing education credit hours.

Advisor, Insurance & Financial Services KEY RESPONSIBILITIES:

You will be actively working to develop and grow your client base and providing solutions including Insurance, Employee Benefits, Retirement Planning and/or Investments

Planning, building, and execution of a business / sales plan

You are a true client relationship advisor who looks for opportunities to refer and receive referrals

You will participate with all the company’s marketing activities and contribute your ideas towards their effectiveness and contributing towards their positive results

Building and growing your centers of influences

Keeping up to date with industry and regulatory trends and changes

Working with all lines of Pacific Place Financial Services/ Bridgeforce Pacific Place business offerings

DESIRED SKILLS & EXPERIENCE:

Minimum 3 years experience in a similar role and ready to take your career to the next step; experienced with Insurance and/or Investment Sales an asset but not mandatory.

Strong listening skills and willingness to learn

Insurance Licensed (LLQP) and CFP, CSC, CIM, CPA, CFA, CLU as an asset or working towards such Designation. * Willingness to obtain LLQP license if not currently licensed.

Strong communication skills oral and written

Professional, motivated, and able to work in a fast-paced dynamic environment Team centered, driven and self motivated attitude Compensation: commissions + marketing support + mentorship + coaching + networking avenues. Take ad-vantage of this opportunity to work alongside some of the top minds in the industry and benefit from the structure, support and resources necessary to push your success to the next level. Please send a cover let-ter and your resume to talent@pacificplacegroup.com with “Career” in the subject line.

We thank all applicants who apply, but only those candidates selected for an interview will be contacted.

If you know of anyone who maybe interested in a career in Financial Services, please have them send in their resume for in interview.

Screening for breast cancer

Screening means checking for a disease in a group of people who don’t show any symptoms of the disease. Screening tests help find breast cancer before any symptoms develop. When breast cancer is found and treated early, the chances of successful treatment are better. Follow breast screening guidelines even when you feel well and healthy.

Provincial and territorial screening programs use screening mammography. A mammography is a low-dose x-ray of the breast. It is the most reliable way to find breast cancer early in women.

Women should be aware of the benefits and limitations of screening mammography based on their age and risk factors to help decide if it is right for them. Talk with your doctor to help make your decision.

If you are 40 to 49 years old, talk to your doctor about your risk for breast cancer, along with the benefits and limitations of having a mammogram.

If you are 50 to 74 years old, have a mammogram every 2 years.

What is breast cancer?

Breast cancer starts in the cells of the breast. A cancerous (malignant) tumour is a group of cancer cells that can grow into and destroy nearby tissue. It can also spread (metastasize) to other parts of the body.

Cells in the breast sometimes change and no longer grow or behave normally. These changes may lead to non-cancerous (benign) breast conditions such as atypical hyperplasia and cysts. They can also lead to non-cancerous tumours such as intra-ductal papillomas.

But in some cases, changes to breast cells can cause breast cancer. Most often, breast cancer starts in cells that line the ducts, which are the tubes that carry milk from the glands to the nipple. This type of breast cancer is called ductal carcinoma. Cancer can also start in the cells of the lobules, which are the groups of glands that make milk. This type of cancer is called lobular carcinoma. Both ductal carcinoma and lobular carcinoma can be in situ, which means that the cancer is still where it started and has not grown into surrounding tissues. They can also be invasive, which means they have grown into surrounding tis-sues.

Less common types of breast cancer can also develop. These include inflammatory breast cancer, Paget disease of the breast and triple negative breast cancer. Rare types of breast cancer include non-Hodgkin lymphoma and soft tissue sarcoma.

To find out more about cancer or to donate

please click on button

Click Here

Nearly 1 in 2 Canadians is

expected to be diagnosed

with cancer in their lifetime.

Did You Know?...

There are multiple platforms, each with their own intricacies. For example, Facebook skews older and Instagram younger. Also, hash tags (which for many of us is the “pound” sign on our phones, far before it became the sym-bol for hash tags) are a way to build a following on Twitter and Instagram – but on Facebook they don’t really have a place. Confused? No worries, let’s look into each platform.

A common mistake for Agents on social media is to post the same content across all platforms. But not every platform is the same and you need to think about what kind of content people want on each platform, the de-mographics on that platform and more. Let’s take a look at the top networks.

Facebook:

While Facebook spans many demographics, the majority of the usage comes from people roughly 35 to 65. They want entertainment but also look to it for news and trends. The engagement tools built into it are incredible, es-pecially the ability to follow, comment and like. With Facebook you can use a variety of content types, from text-only posts, image only, image with text, video, Facebook Live or links to more information. Facebook groups are also extremely powerful.

Twitter:

Twitter’s 335 million users have a wide age range, from 18-50, but it also skews to those with higher education levels (as it’s less about pictures and more about content). In fact, about 30 per cent of its users have at least a college degree.

The limited amount of words in a post, however, means that its users want easily consumable bites of content. Twitter is one of the least favourite platforms for Realtors, but those who leverage it very well do extremely well.

Understanding Social Media Networks

Pinterest:

Here is a stat that will blow your mind. Eighty per cent of Pinterest users are female! More men are signing up these days. And the median age is 40. The most common things Pinterest is used for are DIY home decora-tions, fashion and recipes. It is based around the concept that you see an image that attracts your attention and then you click the link to learn more. Agents can do well on Pinterest but it is generally with lighter types of content (home repairs, recipes, finance). The power of Pinterest is that people click links to learn more. Make sure whatever link you’re including is optimized to have them navigate to other content or put in their contact information.

Instagram:

IG has over one billion active users. This platform skews younger, with most of their audience under 35. This makes it the ideal platform for attracting first-time buyers. Instagram is about pretty pictures mainly, so selling a lifestyle is important for those marketing on IG. To succeed on this platform, you need not only pretty pic-tures, but also a concise call to action – and hash tags in order to grow your following.

YouTube:

Many people don’t think about YouTube as a social media platform, but it is – and it’s one of the biggest out there. It’s also the second largest search platform, after Google. YouTube is all about video and typically users are looking to learn things on YouTube. So, marketing on YouTube is about teaching people how to do things (how to get a home ready for sale, how to buy a first home, how to downsize), and also about letting people meet you before they meet you.

No matter what platform you’re using, be diligent about checking the analytics. These marketing stats can tell you which content and content types people like best, what times of day your content performs the best, track engagement rates and more. If you’re just throwing stuff onto social media hoping it works, you’re not spending time effectively. Look at the analytics and you can use your time much more effectively and have sig-nificantly more success.

So, which platform do you leverage?

If you have a budget and limited time, consider hiring a professional who is knowledgeable on the platform that will help you build your followers, grow engagement and convert that into clients. If you don’t have the budget or would rather handle things yourself, focus on doing one or two platforms well (rather than half-arse-ing all of them).

Look at your ideal target market. For many Agents this will be Facebook because the audience is a little older

and fits into their ideal seller demographic. But, for some it might be Instagram if you want to target the

younger demographic. No matter which one you choose, fully master one before trying to attempt them all.

ICBC UPDATE

Driving Record and Insurance History

Your driving record Your driving record, also called a driver's abstract, is a record of your driving history. It lists when your driver's licence was first is-sued, plus any driving tickets or other offences you've received in the previous five years.

GET YOUR DRIVING RECORDS ONLINE You can easily request a driver’s abstract, an insurance and claims

history record or a commercial driving record (National Safety

Code abstract) for your employer through our online application

form.

Get your driving record

ICBC UPDATE

Electric scooter owner slapped with $600 ticket

says B.C.’s insurance rules unclear

If you spend much time on the road in Metro Vancouver, you’ve likely seen an e-scooter motoring along a bike lane or in traffic.

But owners of the increasingly popular mode of transportation, also known as motor-assisted cycles, say these vehicles fall into a legal grey area, and may be fined $600.

According to ICBC, you need insurance for low-powered motorcycles and scooters.

But there’s a grey area. If you have an e-scooter with pedals, it could quali-fy under the motor-assisted cycle guidelines, which means it doesn ’t need insurance.

Looking for office space?

We have office space for rent!

Please contact Mimi Sum or Wayne Yu if interested.

Surrey Central Business Park

How to get a mortgage when you’re

self-employed

In Metro Vancouver, 15 per cent of the workforce is now self-employed and many work out of their homes, according to Canada Mortgage and Housing (CMHC). If you’re self-employed and thinking of buying a home, you’ll need to know about new mortgage rules. To increase your chances of qualifying, you'll need to be familiar with what lenders require and what questions they'll ask.

Mortgage lenders at banks and credit unions consider a borrower to be self-employed if you:

run a business alone as a sole proprietor, with a partner, or as a corporation;

receive 25 per cent or more of your income from the business;

work on short contracts for different employers; or

are paid solely on a commission basis.

You’re not self-employed if you receive a regular paycheque from an employer, even if it’s part-time work performed for more than one employer. Under these circumstances you’re

Lenders evaluate salaried and self-employed borrowers the same way: on the size of their down payment and on their ability to repay the mortgage. But there is a difference. Salaried borrowers must verify gross income through paycheques or a letter from an employer. Self-employed borrowers must verify net income, or what’s left after business deductions are sub-tracted from gross earnings. For example, if a self-employed person makes $100,000 annually in gross earnings but writes off $30,000 for business expenses, they have net earnings of $70,000. Unless they have doc-

As proof you have a viable business, have a good credit rating, and make timely payments on loans and monthly bills, you’ll need to provide the past two years of the following docu-ments: 1. monthly bank statement; 2. corporate tax return; 3. business balance sheet; 4. profit-and-loss statement; 5. business credit card statements; and

CMHC now allows a notice of assessment (NOA) accompanied by the T1 General, the CRA proof of income statement and the statement of business or professional activities (T2125) to support an “add back” approach for grossing up income for sole proprietorship and partner-ships. Some lenders may also ask for proof that your business is growing and has prospects for fu-ture growth. Lenders will average your earnings over a minimum of two years to get a big picture of your finances. This means that if your net income in 2017 was $100,000 and your net income in 2018 was $70,000, you may qualify for a loan based on an average income of $85,000. If you’re a self-employed borrower, you’ll need to have a down payment of at least 20 per cent. You’ll also need to provide documents, including:

a letter from your accountant;

proof you pay rent on time; and

a personal balance sheet showing assets such as stocks, and debts such as credit cards or car loans.

You should make photocopied sets of all documents, prepare them as a package, and have them available to email to lenders or mortgage brokers. Since you’ll likely shop for a mortgage at different financial institutions or use a mortgage bro-ker, you’ll want to present yourself as an organized and responsible borrower. As a self-employed business owner, getting a mortgage with a good interest rate depends on your ability to maintain payments and the quality of your preparation.

British Columbia’s annual allowable rent increase for 2020 has been set at 2.6%, the province’s annual rate of inflation.

And if you think that’s bad, consider this: The government says it’s actually 2% lower than it would have been prior to the rental increase cap introduced at the beginning of 2019.

See also:

The BC government just capped the allowable rent increase for 2019 BC boosting enforcement against bad landlords and tenants

“Renters need secure housing they can afford,” said BC Housing Minister Selina Robinson.

“That’s why we removed the additional 2% above inflation that the old government allowed for rent increases since 2004.”

Under the old formula — which could have increased rents by up to 4.6% this year alone — she furthered, “renters would have seen a rent hike of more than 9% over 2019 and 2020.”

The government said it is also taking steps to strengthen protections for renters and limit evictions related to renovations. These steps include increased compensation for bad-faith evictions, strengthened requirements for eviction notifications, and new Residential Tenancy Branch guide-lines in July 2019.

These guidelines will include:

The limited types of major repairs that truly require vacancy;

The good-faith requirement;

Necessary permits required by landlords;

Case law regarding renters’ ability to sustain tenancies during renovations. “Tenant Resource and Advisory Centre (TRAC) supports the provincial government’s decision to amend the annual rent increase formula,” said Andrew Sakamoto, executive director, TRAC. “Although more can still be done to improve rental affordability in BC, reducing rent increases by 2% [down from 4.6%] is a step in the right direction.”

When the rent increase cap was lowered in 2019, the Rental Housing Task Force also recommended that the provincial government work with landlords on revising the process for applying for limited additional rent increases to ensure they can pay for necessary maintenance and repairs to their build-ings, and preserve good-quality housing for people throughout the province.

The previous process for seeking additional rent increases only gave landlords the opportunity to re-cover investments for unforeseen repairs or maintenance. The government said it has worked with landlord groups on a new way to help ensure important capital investments are made.

Landlords will be able to apply to recover costs incurred in the previous 18 months for major capital improvements. The new system is expected to be ready for summer 2020.

“The work we’ve been doing with the Province on a new process is unfolding in a manner that, in our

view, will result in a process that will be fair and transparent for tenants, while providing landlords

who continue to invest in the enhancement and energy efficiency of their rental properties a workable

solution to recoup a portion of those costs,” said David Hutniak, LandlordBC’s CEO.

BC caps allowable rent increase at 2.6% for

2020

It takes the average household 52 years to save up for a home in Vancouver

The average price of a home in Greater Vancouver is $993,300 (Getty)

Canada’s political parties are making all kinds of promises to help make homeownership in the country’s biggest cities a reality, but it’ll be an uphill battle for whoever wins the federal election.

A new study from Zoocasa illustrates just how out of control the situation has become for the average Canadian — especially in Greater Vancouver.

The maximum mortgage a household earning the median income of $72,662 would qualify for is $241,994. That assumes a 3 per cent mortgage rate, plus one per cent in property taxes and $100/month for heating.

Considering the average price of a home in the area is $993,300, the buyer has to come up with $751,306 on their own. If the household saves 20 per cent of their income per year, it would take 52 years to come up with what would amount to a 76 per cent down payment.

Looking outside of the city limits won ’t help much. The maximum mortgage a median income household ($69,289) qualifies for is $247,404 in Fraser Valley, leaving the buyer $575,896 short. It would take 42 years to save up enough for a 70 per cent down payment.

Saskatchewan’s two biggest cities fall on the opposite end of the spectrum. Regina is the most affordable of the 15 major urban centres included in the study because the median household earning $84,447 would qualify for a $264,685 mortgage. Since the average home price is $267,900, it would leave the buyer on the hook for only $13,395 and a five per cent down payment — a relatively manageable target that would take a year to save up for.

It would also take a year in Saskatoon (the median income being $82,999) to come up with the $14,540 remaining, the 5 per cent down payment needed after being approved for a $287,310 mortgage.

“Our findings reveal that, while incomes and home prices are generally aligned in the Prairie and Albertan markets, this isn’t the case in major B.C. and Ontario urban centres like Greater Vancou-ver and Greater Toronto,” Penelope Graham, managing editor at Zoocasa, told Yahoo Finance Canada.

“The numbers reveal there’s a large disparity between what a median-income household could af-ford, and what is considered a benchmark home, and that there aren ’t many realistic options for such a buyer, even if they dedicated significant portions of their income to saving up for their home purchase.”

If re-elected, the Liberals promise to pump up the First-Time Home Buyer Incentive.

The conservatives want to bring back 30-year mortgages and ease the mortgage stress test.

The NDP wants to crack down on money laundering, and foreign speculators — which would be on top of the levy already in place in parts of B.C.

“There isn’t one silver bullet when it comes to solving housing affordability, as there are a number of factors that contribute to expensive home prices, such as supply, investment, wage growth, and population growth,” said Graham.

“It’s encouraging that the highest levels of government are making housing affordability a priority and are starting to examine policies aimed at addressing these factors. ”

Jessy Bains is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jessysbains.