If a whole lot of Vancouverites find themselves unable to buy property because it is so expensive, is the region's pricey real estate to blame, or is this more a problem of low income levels?

It most likely is the latter. Vancouver has been cited as the second least affordable city for real estate in the world, after Hong Kong. But housing prices are far higher in cities like London, Paris and New York.

The issue, of course, is whether local people are able to afford the properties in their midst. Londoners, receiving more robust paycheques than Vancouver households, clearly can better afford their own higher real estate prices than Vancouverites.

The relatively low incomes of Vancouver families was highlighted recently by Statistics Canada data, showing the city in 24th spot among 27 Canadian cities when it comes to median family income.

Calgary is in top spot. Families there enjoy median incomes of $98,300. Meanwhile Vancouver, with family incomes of $71,140, lags even smaller, somewhat remote cities like Saguenay and Sudbury. Vancouver is slightly behind incomes in both Montreal and Toronto and hugely behind other major urban competitors such as Edmonton, Winnipeg and Regina.

And when average yearly growth in income is considered, B.C. again finds itself, along with P.E.I., at the bottom of a list of provinces. B.C. recorded earnings growth between May of 2013 and May of 2014 of two per cent - compared to six per cent growth for Newfoundland, 3.8 per cent growth for Nova Scotia and 2.9 per cent for New Brunswick.

The big question, of course, is why are Vancouver incomes lagging?

This probably is Canada's most beautiful city, with one of the most temperate climates in the country. It is boosted by tourism, and positioned as an ideal trading gateway to the Asia Pacific. It also acts as a professional centre for a large province boasting bountiful natural resources.

But national data also show that, along with Quebecers, British Columbians have the shortest work week in the country.

Next to residents of Atlantic Canada, British Columbians also have among the lowest levels of participation in the labour force.

As well, B.C. does poorly in its productivity measures. The Conference Board of Canada notes, between 1981 and 2009, B.C. sustained the largest productivity decline of any province.

Capital investment by businesses in B.C. - linked to productivity - has also been modest. The C.D. Howe Institute reported earlier this year that 2012 private sector investment in B.C., as a share of GDP, stood at 10 per cent, compared to 17.5 per cent in Saskatchewan and 19.1 per cent in Newfoundland.

Employment growth, too, is anemic in B.C. In 2013, job growth was 0.2 per cent, compared to 2.9 growth in Alberta and 3.8 per cent in Saskatchewan.

B.C.'s cause would be aided by a big petroleum industry, no doubt, instead of a forestry industry that so suffers from market swings.

But this issue of low incomes warrants a much higher profile in B.C. and should become the focus of far more attention from the province's politicians and policymakers.