Yes, these figures do ‘make you think’. What you end up thinking, however, likely depends completely on the position you already hold. Vancouver RE bulls will see these kinds of figures as vindication for bullishness going forward; Vancouver RE bears will point to studies showing that RE prices climb at about the inflation rate over the long term, and conclude that Vancouver RE is overvalued. -vreaa
This from Ulsterman at vancouvercondo.info 19 Jan 2010 8:56 pm -
“I was at Burnaby City Hall today dealing with a secondary suite issue and the lady helping me was viewing the info on the house I rent. It was built in 1954 and valued at $14,000. According to the BOC inflation calculator that’s $113,557 in today’s money. Makes you think. The house was assessed by the city [2009] at $725,000.”
