Report: Vancouver most unaffordable housing market in the world housing, market, Report, Vancouver, unaffordable

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VANCOUVER (NEWS1130) - Vancouver is number one but it's not exactly the best list to top.  A report by the Frontier Centre for Public Policy shows Vancouver has the most unaffordable housing market in the world.

http://www.news1130.com/radio/ne ... the-world-vancouver

samsung

yeah... after olympic, it will go down

singsing

i think it gonna last for a while gei jei. sooner or later there will be a break down ga la.
whenever the market can't support, the price will go down ga la. dun worry ppl

sheep

12# peter236

China is a huge 水庫

peter236

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 ridicu ...
BiscottiGelato 發表於 2010-1-26 18:22

Do you think the prices can sustain? either local money or foreign money will dry up?

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.

KittyLeung74

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 th ...
BiscottiGelato 發表於 2010-1-25 15:11

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 local economy.  

It is unaffordable to have a shelter.  If property price goes up, rent also goes up.

peter236

Most unaffordable but people still have a place to stay at.  What does that tell you?
快樂牛郎 發表於 2010-1-25 12:32

Probably some of them are immigrants with the money.

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.

Littleprince

If rent is affordable, what's the issue then? Is it a rule written in the law that everyone has to own a house?
快樂牛郎 發表於 2010-1-25 13:07

guess it's Chinese traditional thinking: everyone should have a shelter... (有塊瓦遮頭)

and in terms of 計算, renting a home is a 無底深潭 AKA 幫人供屋。。。可以係租左 20 年屋你仍然一無所有﹐而你朋友響 20 年前有能力拿出首期的﹐個個月比緊同你租金一樣的價錢﹐20年後已經 MORTGAGE FREE AND HAVE HIS OWN ASSET (間屋)﹐有 OPTION 可以賣掉套現﹐相對租屋的﹐一天未死還仍然要比租 (除非同 PLAYTINGTOY 爭天橋底訓)﹐所以好多人都情願買屋掛。。。