Wow, boy am I glad I don't live in Vancouver.
It would be interesting to see what's happened in the last two years.Graph of average Vancouver house price vs. income:
Only way that would happen is if I lived in a van, down by the river. Like Matt Foley Motivational Speaker.why not live in van?
I couldn't agree more! If anybody thinks/hopes that interest rates will remain that low for long, they are in for a rude awakening.hard to predict where interest rates are headed in the next 10-15 years? you are kidding me. we currently pay 2%. I will guarantee you that rates are headed up in much less than 10 yrs
try 2-3yrs. get your cash ready, housing prices are coming down..
Bah. That's penny wise pound foolish. I'd love to be on the hook for CMHC, if it means getting a 6 figure discount on a Vancouver property.I hope the government is paying attention because all of us are potentially on the hook as the taxpayer is the CMHC.
Dogcom, do you have any statistical data to back up your claim?I know prices are to high but alot of the buying comes from Asians with very deep pockets and I don't think many of them would care to move to anywhere else in Canada.
Eh, without inflation adjustment it's not hugely useful.Most recent Greater Vancouver Average Price Graph.
[January 1977 to September 2009]
Almost right up to the last year's high prices.