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Canada Housing Bubble?

Flash

Flash

SEVAL/ECMO
None
Super Moderator
Contributor
Vancouver definitely has a bubble and it is causing all sorts of issues, very few folks with a 'normal' income can afford to own housing in the city and increasingly in the suburbs. It has been greatly exacerbated by a lot of overseas buyers, mainly Chinese, buying up properties to shelter income and give them an out from the home country for them and their children. The geography, with the city surrounded by mountains to the north and the border to the south, makes the options that much limited. Many longtime residents are cashing out and moving inland.

So yeah, possibly big problem for our neighbors up north.
 
nittany03

nittany03

Recovering NFO. Herder of Programmers.
pilot
None
Super Moderator
Contributor
Flash said:
Vancouver definitely has a bubble and it is causing all sorts of issues, very few folks with a 'normal' income can afford to own housing in the city and increasingly in the suburbs. It has been greatly exacerbated by a lot of overseas buyers, mainly Chinese, buying up properties to shelter income and give them an out from the home country for them and their children. The geography, with the city surrounded by mountains to the north and the border to the south, makes the options that much limited. Many longtime residents are cashing out and moving inland.

So yeah, possibly big problem for our neighbors up north.
Click to expand...
Well the market on the other side of the border is rapidly approaching absurdity, too. I think the state bird of Washington is the tower crane. Condos for all my friends . . . or at least the rich ones!
 
Flash

Flash

SEVAL/ECMO
None
Super Moderator
Contributor
nittany03 said:
Well the market on the other side of the border is rapidly approaching absurdity, too. I think the state bird of Washington is the tower crane. Condos for all my friends . . . or at least the rich ones!
Click to expand...

My brother in Seattle just sold his house in less than a week and moved to a rental two blocks away to make sure he got his money before things went south.
 
E

exNavyOffRec

Well-Known Member
nittany03 said:
Well the market on the other side of the border is rapidly approaching absurdity, too. I think the state bird of Washington is the tower crane. Condos for all my friends . . . or at least the rich ones!
Click to expand...

It is funny and sad how the politicians will say how well the economy in Seattle is doing spouting home prices increasing, then turn around and say how there are too many that can't afford to live in Seattle.
 
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