Housing Bubble in Canada?

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#1 Tue, Jun 14, 2011 - 8:55pm
Hi Rez Jack
Joined: Jun 14, 2011

Housing Bubble in Canada?

Housing prices are at an ALL.TIME.HIGH. in Canada right now. Some fun stats:

  • 70% home ownership in Canada
  • average single family home price in Vancouver = 11 times the median household income.
  • average single family home price in Toronto = 9 times median household income.
  • Canadian economy is not booming
  • jobs are not growing
  • incomes have become stagnant

Mainstream response when asked if there's a bubble: "Absolutely not!! Its different here!"

When I see a 1 bedroom shack sell for $2.3 million in Vancouver and know that driving half an hour south to the US the same property could be purchased for $50K, a red-flag goes off for me.

Edited by: Hi Rez Jack on Nov 8, 2014 - 5:07am