“The purchase price was €127,000 ($177,000 CAD). The same home changed hands for €400,000 ($560,000 CAD) during the peak of the Irish housing bubble a few years ago.”

“A friend just moved to Burnaby from her family home outside Dublin to be with her boyfriend. She was telling me how her sister had just purchased a house in their Irish neighbourhood. The family was excited because she had purchased the house that backs onto their parents’ lot. The purchase price was €127,000 ($177,000 CAD). She didn’t mention how big the house was, probably modest by Canadian standards. But she did mention that the same home changed hands for €400,000 ($560,000 CAD) during the peak of the Irish housing bubble a few years ago. I can only imagine what this will mean for Coquitlam, Port Moody and North Burnaby when all those $550k houses drop below $200k, it’s going to be devastating.”
– Lex Limo, via e-mail, 11 Nov 2011 [Thanks Lex. -ed.]

One response to ““The purchase price was €127,000 ($177,000 CAD). The same home changed hands for €400,000 ($560,000 CAD) during the peak of the Irish housing bubble a few years ago.”

  1. “I can only imagine what this will mean for Coquitlam, Port Moody and North Burnaby when all those $550k houses drop below $200k, it’s going to be devastating”
    Devastating? It’s going to be great! Painful, maybe, but good in the long term. What is really devastating is the absurd run-up in prices over the past decade.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s