Quote:
Originally Posted by 4444
^^ you have just provided the greatest argument for Vancouver not being special, as the whole country has gone up...
because of cheap money!!
had vancouver alone gone up by loads, there would have been a reason, or event to make this happen, it hasn't happened, all of canada has gone up based on federal monetary and mortgage policies. these policies will be slowly reversed, reverting to a 'normal' real house price based on income and rents. It will happen slowly so that it doesn't look like a bubble or a 'problem' (what politicians want) - but a 0% rise in your house price is actually a real 2-3% drop in prices based on inflation.
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I agree it's not that special but it will always be cost more to own here then it will anywhere else in Canada except for a few areas back east, mainly some areas of Toronto. I would say it's probably 2-3 times more expensive then most everywhere else is and in my opinion it will always be that way, that doesn't mean that the prices of real estate Canada wide won't have ebbs and flows.
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