BiscottiGelato

Cuz most people assume that real estate prices can only go up, esp for Vancouver. And that housing prices increase outstrip most realistic expectation for income increase. Thus it's better to board the train before it takes off or you'll buy much less house for the same mortgage later...

From what I listened this morning, Vancouver is the most unaffordable because a median dwelling costs 9 years of salary on average. Most expensive city in GTA is only 5ish years if I didn't remember wrong.

BiscottiGelato

Globalization brings hot money to Vancouver.  There are many properties, especially those deluxe ones, are sold in overseas.  That's why the housing prices go up and up, not just depending on the lo ...
KittyLeung74 發表於 2010-1-25 14:47

I'd say it's a bit of both. Hot money pouring in initiated the speculation, while local purchases sustained the prices. I think we are in the latter phase more so than the former. Whether the ridiculous ratio can be sustained for much longer is yet to be seen.