unicas at RE Talks 26 Apr 2011 9:24pm – “I will be content with a house like this, doesn’t have to be in Vancouver. This is the kind of upper middle class housing we expect to see in most parts of North of America. My dream has been shattered.”
4,351 sqft SFH; 0.46 acre lot; built 2006
Ask Price: $479,999
Price/sqft: $110/sqft
On market 180+ days
MLS/ID: 11490706
Shady Shores, Texas, 76208
[Median household income: $94,746 - ed.]
I would be happy with 1/4 of that.
Yeah, 1,100 sqft bungalow on 0.125 acres (bigger than standard westside lot) for $120,000 would be fine, agreed.
We suspect lots of readers will be able to scale these numbers up or down to suit their needs.
Of course, it goes without saying that we expect Vancouver to carry some premium over Shady Shores, Texas, BUT we’d expect that premium to be less than its current factor of… what?… perhaps ten times as expensive?
Didn’t you hear Gregor? Vancouver’s downtown rivals that of New York, Paris and London. http://goo.gl/fDiGZ
Paris and London don’t really have “downtowns” in the North American sense of the word.
“Vancouver’s downtown rivals that of New York, Paris and London”
Having Granville+Robson+Denman that close demands a premium. World class!
There’s a lot of discussion in the mainstream news media in Canada about the massive (total) debt the United States has, but so far I have not seen any discussion of the massive (total) debt we in Canada have, a massive (total) debt that is skyrocketing higher at a very alarming rate as we speak. The politicians and the mainstream news media absolutely refuse to discuss this issue.
{Click on the link at the end of my post to find the links which back up all of the statistics I am using in this post.)
The total Government (Federal, State, and Local), business, and household debt in the United States is 52.6 trillion$
The total Government (Federal, Provincial, and Municipal) business and household debt in Canada is 4.51 trillion$, and it went up an eye-popping 248 billion$ over the last 12 months. To put things into perspective the (Canadian) Federal Government`s program spending in the year 2010 was 245 billion$
Since the United States`s population and gdp are approximately 10 times higher than Canada`s, there is not a lot of difference in the total debt numbers in the USA (52.6 trillion$) and the total debt numbers in Canada (4.51 trillion$), relatively speaking.
The total Government (Federal, Provincial, and Municipal) business and household debt to nominal gdp in Canada is 278%
In the year 2010 the total Government (Federal, Provincial, and Municipal) business and household debt in Canada grew 2.46 times faster than its nominal gdp (economy) did.
Our economy is one big ponzi scheme, and a “day of reckoning” is just around the corner. When it comes, it is not going to be very pretty.
Canadians and their Governments: Digging the hole deeper and deeper