The Globe and Mail reports in its Thursday edition that if you earn the median household income of $85,000 a year, saved a 20-per-cent down payment and are looking to purchase an $800,000 home, you might think it is time to get into the market. A triple-bylined item led by Jason Kirby says that sadly, you are not even close. The ownership costs -- mortgage payments, property taxes and utilities -- would eat up 63 per cent of your gross pay, according to calculations from RBC. Not only are these costs the highest RBC has ever observed, but they are far in excess of what policy-makers deem affordable. The math becomes even more stretched if you want a detached home or to buy in certain markets. Ownership costs amount to 84 per cent of median household income in the Toronto area and 103 per cent in the Vancouver region. In other words, the typical household in Vancouver does not earn enough to make payments on a representative home, even before taxes are deducted and other necessities such as food and clothing are paid for. Practically speaking, the country's banks would never lend to someone so swamped by mortgage payments. The reality is the typical household has little chance of getting into the housing market.