214k median price where in USA... i live Orange County, Ca our average house cost 500k and its not that nice or in a nice area... a decent house in a nice area is more like 700k US dollars

 

^sources?
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http://therealreturns.blogspot.com/2...es-in-usa.html

http://www.statcan.ca/start.html

http://www.crea.ca/

 

Far more international than Vancouver??? I think you underestimate the cultural diversity of Hong...eerr...Vancouver.. It consistently ranks in the top 5 most desirable places to live in the world in terms of overall quality of life (according to the Economist). Miami is not even in the top 50. Not saying the beaches aren't suhweet there ...but those hurricanes are kinda scary...

Interesting stat on the US median housing price - I bet it will get worse....can anyone say bargain hunting? Any Canadians looking for investment property in the States? Wish the property in Hawaii would get cheaper...

 

i was in mortgage before it crashed... i know prices out here... the rest of america dont know but OC CA is expensive

 

I looked at your sources although the second link didn't seem to lead to anything meaningful. I also didn't see anything about incomes for the two countries or anything about Miami property losing 50% of it's value, unless I missed it. You appeared to be using '08 average price data for Canada but '07 median prices for the US. This affects the comparison notably.

From what I saw:
avg house price-

US $299,100 (April '07) ; no '08 data ; median $229,100 (April '07)
Can $294,838 (Feb '07); $313,065 (Feb '08) ; no median data

Did I miss something?

 

Heres a Miami condo video. My father is watching the prices there closely and is retiring out there as soon as he feels it has bottomed.

 

^thanks for that. Probably an extreme example of discounting that made the news but none the less a scary situation for developers and owners of real estate there. Obviously the market was grossly inflated and the sub prime issue helped bring it tumbling down.

 

I looked at your sources although the second link didn't seem to lead to anything meaningful. I also didn't see anything about incomes for the two countries or anything about Miami property losing 50% of it's value, unless I missed it. You appeared to be using '08 average price data for Canada but '07 median prices for the US. This affects the comparison notably.

From what I saw:
avg house price-

US $299,100 (April '07) ; no '08 data ; median $229,100 (April '07)
Can $294,838 (Feb '07); $313,065 (Feb '08) ; no median data
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more up to date #'s
http://www.bloomberg.com/apps/news?p...d=acTRbno5hjVA
Can't find historical prices for Miami (too lazy to keep looking) but this link shows a 19.3% drop from Jan 07 to Jan 08 and I believe Miami is down approx. 40% since the peak in 2005.


http://www.homescape.com/content/Blo...ousing_Markets