Saturday, October 28, 2017

We're Number 1!


Travis Lupick of the GStraight has the story.

Here is his lede:

Another housing-affordability study has placed the City of Vancouver in its top spot.

“With a median home sale price of $1,108,345 and a median family income of $63,944, Vancouver is the most unaffordable market in North America, more so than other expensive housing markets such as Manhattan and San Francisco,” reads a summary of the analysis.

The study by Point 2 Homes compared affordability in 50 cities in Canada, the United States, and Mexico. (New York City’s five boroughs were calculated as separate cities.)

Researchers looked at incomes and home prices to calculate affordability.

“With its insane affordability gap, Vancouver exceeds even notoriously inaccessible Manhattan, and all other North American markets,” the summary reads...


Is it possible that San Francisco and Manhattan  missed the boat on our fantastic new Whaling industry?

Of course, if that is the case it would very likely mean that California and New York don't have their own homegrown finest of the finiest fine political folks doing their best, by virture of their own deeds and actions, to clear the decks for said whaling.

Or some such thing.



North Van's Grumps said...

or, in comparison to others, the communities within Metro Vancouver populations are much smaller, more room for speculators to thrive in.

Hugh said...

It's a giant fricken Ponzi scheme. Which tend to not end well.

Thanks Government!

sd said...

We've been sold out!!!!!!!

Keith. said...

When “ the bubble headed bleach blonde who comes on at five” gushes on every aspect about real estate prices, very little focus is devoted to where the money comes from. The province has to a great degree been riding a wave of economic activity based on low interest rates and income from Vancouver real estate and it’s provincial knock-on effect whilst cranking the debt up and looking the other way

Problem is the hoi poloi have to a great degree brought into all that without asking the basic question; shouldn’t high property prices be based on the economy, not be the economy.?

Hugh said...

The CMHC, a Crown corp. which provides mortgage insurance to the public, says Canada's housing market is 'highly vulnerable.'


e.a.f. said...

as long as those in Communist China want to launder, place, bring, their money to the Greater Vancouver housing market it is not going to "deflate". There are 35 million, millionaires in Communist China. Our population in Canada is approx. 36 million.

Communist China is simply buying Canada, one house, one company at a time and all levels of government are good with it. currently a Communist Chinese corporation has plans to purchase one of Canada's largest construction companies. it needs government approval, but we know it will pass.

We have no one but ourselves to blame for what is going on with the Canadian housing market. New Zealand has a new P.M. Her first order of business: only residents, citizens may purchase existing homes. That is not going to happen here. The NDP won't do it because if they do they'll never be in power again. Too many people are still making a lot of money. Sell your house in Greater Vancouver and move to Vancouver Island. The big question is, what do you do when there is no more places to run where you can live and work?

Keith, yes she does gush, but she also most likely can't afford to buy in Greater Vancouver. Its is rather funny that the talking heads who provide all these great information, can't afford to live close to work.

North Van's Grumps said...

hmmmm I wonder if what 'we' are experiencing first hand is no different from what The First Nations felt when our ancestors arrived on the shores eg. Burrard Inlet and claimed all resources for the Kings and Queens of the United Kingdom?

Time will tell when the newcomers descendants feel the brunt of others, eh