A History of Home Values
March 16th, 2009
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.