Unagi Don kindly posted this observation/analysis at VREAA 12 July 2011-
“Only one UBC employee can afford to own a westside home.”
#1) The income levels required to own a westside home: $496k.
#2) The largest employer in Vancouver (which happens to be on the west side): UBC
#3) The number of UBC employees earning more than $496k: 1
Prof. Donald Wehrung in Sauder School of business earns $510k.
Stephen Toope, the university president, earns only $483k.
For the sake of comparison, the public universities in the US located in the most expensive housing areas are probably UCLA and UCSD. (I’m excluding Manhattan as single family detached homes simply do not exist there.)
At UCLA, there are roughly 100 employees with salaries over $400k:
And the average home price in Westwood (the upscale area where UCLA is) is around $650k:
It goes without saying that UCLA is not the largest employer in LA.
At UCSD, there are roughly 70 employees with salaries over $400k:
And the average home price in La Jolla (the upscale area where UCSD is) is around $1m:
UCSD is the fourth largest employer in the San Diego area.