Quote:
Originally Posted by JDMDreams
I'm just curious do you guys realistically think prices will keep going up? Detached in East Van hit 3 million? In like next 10 15 years? I don't see Vancouver being a global hub like HK, NY to support it.
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I have no idea how it got to this point as you said there’s not the money to be made here to support it, but as long as people come here in droves with money made from other places, and with the ease of remote work becoming more and more, it will attract people from all over the world. Vancouver is relatively small compared to the amount of rich people in the world so as long as the money can come from somewhere else it seems it will continue. Not to mention people are becoming conditioned to the idea of 50% of their income going to housing costs.
It should stop, but it might not. People are being allowed to borrow too much.