Real estate bubble in Canada?

[overthebow]

This story in the Vancouver Sun, http://www.vancouversun.com/business/4196643/story.html says that there are only 15 detached homes in Vancouver for under $600,000 CDN and only two under $500,000 CDN. The exchange rate is at parity to the US dollar. I looked at some of these houses and they seem over priced relative to the Seattle market.

What's the word in Canada? Are people talking about a real estate bubble?

 

[Lancecastor]

Seattle is nice enough, but Vancouver is a better place to live, so that's part of it.

(Vancouver is consistently ranked as one of the best places to live in the world in various magazines, etc)

But the big difference is Vancouver's population is something like 30-40% Chinese...Vancouver is and has for several decades been the place where wealthy Hong Kongers and more recently, wealthy mainland Chinese....go when they want to move somewhere safe, clean to live within a direct flight from home.

So, Chinese money is a lot of it.

I'd split the difference and live in Bellingham, Wa myself....but they're all pretty good places to live, I figure.

 

[albertaboy]

This story in the Vancouver Sun, http://www.vancouversun.com/business/4196643/story.html says that there are only 15 detached homes in Vancouver for under $600,000 CDN and only two under $500,000 CDN. The exchange rate is at parity to the US dollar. I looked at some of these houses and they seem over priced relative to the Seattle market.

What's the word in Canada? Are people talking about a real estate bubble?

Vancouver is always prone to bubbles, it's surrounded by mountains with limited land. Prices are driven by that and Asian immigrants.

 

[Lancecastor]

What I like about this thread is the way the yanks ignore it...the terrorists did a good thing with 9/11...ever since then, americans don't look over the fence they have around themselves for anything.

Well, except maybe to decide which country of ragheads they want to bomb next.

If the Muslim world wanted to confuse the shit out of the USA all they'd have to do is start wearing Wranglers and Dale Earnhardt t-shirts.

In fact, you can probably say anything you want about those fat redneck porchmonkeys and they will never see it, because the thread title's about Canada.

 

[Saint Peter]

Yes, Lance. We are all the same motherfucker here in America.

 

[Lancecastor]

Yes, Lance. We are all the same motherfucker here in America.

Damn.....you've exposed our clever canuckistan diversion hideout thread.

 

[HoHoBomb]

That's because no one is building.

 

[overthebow]

The article was about the city limits of Vancouver. A lot of people would rather live in Seattle than Tacoma, even though houses are cheaper in Tacoma than Seattle. There are cheaper areas near Vancouver than the city itself.

I wonder if 'grow houses' are driving up the cost of houses.