Yank at VREAA 4 July 2011 6:39pm –
“I’m a US ex-pat living in Canada, enjoying the country and the people very much. For bubblelicious reasons, I’m concerned about buying — especially as I might not be in town for more then 5 years. I’m not in Vancouver — prices are just mildly insane in the prairie city where I live. I’ve got friends in Vancouver, and I’m sort of horrified, entranced, and baffled by the situation.
Until recently I was living in the medical and university center in a rural midwestern state. My small city had the most expensive housing in the state: 5000 square foot mansions were going for 400 – 500K. A large 2 story was going for 200-300K. Townhouses with 2story attached garages, 1400 square feet, not including the finished basements, new construction were selling for 150K.
About a year ago friends bought a detached house in a nice area near Greenlake (Seattle) for 350K. You can get a good house in the nicest suburbs of Chicago, with the best public schools in the nation for half a mil. (Northbrook, Glenview, Willmette, Evanston). I’ve also seen nice two stories in those suburbs for as low at 350K.
Half a mil is a lot of money. This bubble just baffles me. Canada has land. Canada has trees. WTF?”
We also experience the bafflement, the horror, the entrancement.
And the fascination appears to have gone up a notch this last 6 months.
It’s like we’re watching a freak show and the rubber man is pushing limits we hadn’t anticipated.
Even his handlers are aghast; surely he can’t do that without hurting himself? – vreaa