Vancouver Homes Explode 32% in Value In Single Year

[Economy 52,861]

1 hour ago, Computer said:

^^  I cant quote for some reason but yeah that's what makes it scary.  I remember years before the big real estate bust here in USA my dad once told me house prices never go down, because nobody ever wants to sell for less than they bought it for, so it just doesn't happen.  I guess we didnt think about all the people who have no choice and jobs go away and foreclosures happen, big time.  Praying for the future in that area tbh.

Thats what tends to happen if real estate goes up for many years in a row. People forget prices can drop also

 

There are a few differences between Canadas Housing Bubble and the US housing bubble tho

 

The types of imbalances are slightly different. The US bubble could self-implode (as it did). The way the bubble is in Canada it will require a trigger not directly from the real-estate market itself

 

Im short, Canadas housing market is in a state thats far more difficult to predict its future predicament than the US bubbe due to circumstances that are a bit different.

 

Im sure u dont want me to explain the differences in detail to so i wont get into it. Unless u actually wanna know then ill gladly explain