With homes on Vancouver’s Westside now averaging close to $2M asking price, take a look at what about half that amount, $1M, gets you in the US. [From 'Million Dollar Homes Across America 2011', CNBC, 13 May 2011]
Seattle, 3,790sqft SFH, $1.0M
Portland, 5,771sqft SFH on 33,000sqft lot, $1.2M
Honolulu, 2,148sqft SFH on 7,155sqft lot, $1.1M
Las Vegas, 5,702sqft SFH on 13,068sqft lot, $1.25M
Los Angeles, 3,500sqft SFH, $1.0M
San Francisco, 1,567sqft SFH, $1.25M
Manhattan, 1,000sqft apartment, $1.0M
Phoenix, 5,843sqft SFH on 39,413sqft lot, $1.25M
St.Louis, 4,000sqft SFH on 20,000sqft lot, $1.15M
Omaha, 5184sqft SFH, $1.05M
Anchorage, 5,818sqft SFH on 22,609sqft lot, $1.0M
Dallas, 5,686sqft SFH on 15,000sqft lot, $1.2M
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For comparison, $1M in westside Vancouver gets you this:
4131 W 11th; 1,417sf SFH on 16.5×122 lot (a half a standard lot, or a twentieth of an acre)
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Yeah, I’m sure our house prices will continue to climb to the point where you will get a 4 X 6 cardboard box at Main and Hastings for $1 million.
everyone will be a millionaire for 15 minutes
That’s a tough one, VREAA! Let’s see… Will it be…
Door#1: Manhattan for the Galleries&Museums?
Door#2: LAX for ‘Industry’Schmoozing&Partays?
or…
Door#3: Honolulu (for WritingSeclusion & Absence ‘o ‘Distractions’ [other than TheLifeAquatic])?
I’m leaning towards Door#3…
Comparison shopping (even of the imaginary/’window’ variety) is a powerful antidote to YVR RE ‘lust’, ain’t it!?
behold..
it is the antitode!
Yeah but
1) good schools
2) immigration
3) large Asian community
4) proximity to UBC
Nonetheless, those comparisons sure gave me some pause. There are houses in other places too?!?
That’s right Jesse : I’m sure those people buying the $1M mansion near UCLA are bummed that they’re not closer to UBC… I’m sorry to break the news to you, but millions dollars villas are *usually* located in good neighborhoods with everything one possibly needs. Shocking, hun?
Are “immigration” and “large Asian community” supposed to be + or – ?
Just askin’
PP:
quiet or we’ll report you to the HR commission!
those houses are so beautiful; let just pack up and go there!
All nice houses but that Phoenix one looks particularly impressive.
I just bought a house in Tulsa, OK for just over 400K. (work related)
It’s only 5 minutes from downtown and it’s a mansion compared to anything you could get in Vancouver for 4 or 5 times the price.
Tulsa isn’t N.Y. but it’s not a bad city either. Pretty decent local economy, not nearly as hard hit as many U.S. cities.
Believe it or not there are some decent housing prices in and around the Vancouver area. Not everyone needs to live in Point Grey or Kits. And offshore investors are looking for good deals and may be affecting housing prices in some areas. We are pricey for sure but lets show housing in more suburban areas where we realists live…and by the way I live in West Van and you can even get a good deal here if you look. It’s all relative don’t you think?
Actually, its all relatively overvalued. The immediate periphery only looks vaguely ‘decent’ in comparison to the central insanity, so that isn’t saying much.
When the bubble bursts, all areas will drop.
We’re recording some of the outrageous highwater-marks, for future reference, but prices in all areas will go back to where they were in 2003 or 2002 or 2001 or before.