RE is not portable, but there has to be some kind of osmotic price effect from one market to another. How long before Canadians get the message? -vreaa
This from ‘Half-price homes? Canadians pounce on the Sunbelt’, by Tony Wong, yourhome.ca, 14 Mar 2010 –
“Being in Toronto you become jaded at the high prices. There really is a bit of a disconnect to what is happening here and what is happening in the U.S.,” said Toronto buyer Lynn, who works at an agency representing photographers. Lynn’s first buy was a relatively new one-bedroom condominium in upscale Naples near the beach for $54,900. That’s about what parking would cost at a new luxury condominium in downtown Toronto. (An extra parking spot at the still-to-be-completed Ritz Carlton on Wellington St., for example, costs $55,000 Canadian.)
Vancouver Real Estate Anecdote Archive 