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Also, if Vancouver were so special. Why is all Canadian real estate out of historical price ratio whack?
It's not that Canada is special (our economy is sucking right now' I'm large part because we didn't take a big bath in 2009), its that rates are low, banks are a tad more conservative so we weren't as exposed as in the US.
It'll all come back to normal, maybe not today, maybe not in 2013. But when you're signing up for a 30 year mortgage, waiting a year or 3 makes sense
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