A History of Home Values
- March 16th, 2009
- Posted in stupid people
- By midbach
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While this image from the New York Times speaks to the rise in American home values since 1997, one has to wonder how far certain Canadian cities *cough*Vancouver*cough* are from this sort of spike in values.
When a purchaser requires over 70% of their gross income to buy a house in Vancouver, I think it’s not that far off. I noticed an open house on my way to work a few days ago. Typical Vancouver condo, on Georgia St. where they were asking in the area of $550 per square foot. Not surprisingly there were no line ups of condo crazed people bidding the price higher.
Yeah, me thinks we’ll keep saving our pennies and renting a while longer yet.
$550/sq foot? That’s not bad for Georgia street. Must be on the second floor overlooking the crack heads.
Most places are between 800 and 1000 a sq. foot.