“O would some power the gift to give us to see ourselves as others see us.”
………………………………………….- Robert Burns, ‘To a Louse’
pricedoutfornow at vancouvercondo.info 10 Nov 2010 12.00pm – “I was just talking with an American about house prices in Vancouver. She thinks it’s absolutely ludicrous how much we are paying for houses. As I talked to her about all the people I know who have bought houses for $800k, $900k, or a couple condos for $500k, each I realized just how insane it sounds. Meanwhile she’s considering buying a condo in Miami for $100k. On South Beach, walking distance from everything including the beach. She couldn’t believe what I was telling her. She’s lived for awhile in NYC and doesn’t think much of Vancouver, except that it rains a lot and is kind of small. When I step back and listened to what I was telling her, it DOES seem ridiculous. $800k for a falling-down house in our podunk little town? Give me a break!”
Addition:
An Upper-Westside Manhattan condo that had been offered for >$2M, sold for $229K [New York Post, 10 Nov 2010] (88% off!)
Pretty sure five years ago the response would have been different.
But hindsight and all that.
The problem is prices compared to incomes. You guys are spending way too much of your income on housing.
Foreclosuregate “roulette” in Florida vs Bubblicious RE in the Greatest Place on Earth.
How about none of the above?
Blast from the past :
“So the news that the U.S. housing bubble is over won’t come in the form of plunging prices; it will come in the form of falling sales and rising inventory, as sellers try to get prices that buyers are no longer willing to pay. And the process may already have started.”
- Paul Krugman, New York Times, August 2005.
yeah – Yank here living in Canada. I am so confused. Even during the bubble housing never got as expensive as I see in Canada. And the Canadian bubble seems to be in most of the major cities from Ontario to B.C.
I don’t get it – it’s not like Canada doesn’t have trees and land on which to build houses.
Even Saskatoon and Winnipeg are weirdly overpriced!!! Des Moines, Iowa and Kansas City and St. Louis never went through the roof!
I’m so confused…
1 million wont get you anything decent in this city.
Think about it, one million is most probably all of your after tax income of all your working life. People are completely nuts.
I know it looks bad, but you have to realize there are only 9 million square kilometers for 33 million people! We are running out of land.
“I know it looks bad, but you have to realize there are only 9 million square kilometers for 33 million people! We are running out of land.”
You win the thread!
Most American I work with (on the daily basis) never thought much about Vancouver or Canada. To them, everything here is supposed to be dirt cheap. I remember the comments from some of the US folks when they first visited us in our downtown office building “didn’t realize there were so many buildings in Vancouver”, “it is just like America”. We corrected them that we did not canoe to the office