Housing prices in Canada
Originally Posted by Nick 99
Good discussion..............as for foreign ownership propping up the Van market I don't buy it. Look at Miami, far more international city with substantial foreign investment and RE values have been cut in half.
Median home price in Canada $313,000 median home price in the US $214,000 with median incomes being approx. $7000 higher in the US and interest deductibility on a mortgage in the US. Is Cdn RE overpriced??? I guess only time will tell.
Median home price in Canada $313,000 median home price in the US $214,000 with median incomes being approx. $7000 higher in the US and interest deductibility on a mortgage in the US. Is Cdn RE overpriced??? I guess only time will tell.
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^sources?
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Last edited by Nick 99; Apr 12, 2008 at 08:03 AM.
Originally Posted by Nick 99
Good discussion..............as for foreign ownership propping up the Van market I don't buy it. Look at Miami, far more international city with substantial foreign investment and RE values have been cut in half.
Median home price in Canada $313,000 median home price in the US $214,000 with median incomes being approx. $7000 higher in the US and interest deductibility on a mortgage in the US. Is Cdn RE overpriced??? I guess only time will tell.
Median home price in Canada $313,000 median home price in the US $214,000 with median incomes being approx. $7000 higher in the US and interest deductibility on a mortgage in the US. Is Cdn RE overpriced??? I guess only time will tell.
. 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...
Originally Posted by Nick 99
^sources?
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http://therealreturns.blogspot.com/2...es-in-usa.html
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http://therealreturns.blogspot.com/2...es-in-usa.html
Originally Posted by Nick 99
Good discussion..............as for foreign ownership propping up the Van market I don't buy it. Look at Miami, far more international city with substantial foreign investment and RE values have been cut in half.
Median home price in Canada $313,000 median home price in the US $214,000 with median incomes being approx. $7000 higher in the US and interest deductibility on a mortgage in the US. Is Cdn RE overpriced??? I guess only time will tell.
Median home price in Canada $313,000 median home price in the US $214,000 with median incomes being approx. $7000 higher in the US and interest deductibility on a mortgage in the US. Is Cdn RE overpriced??? I guess only time will tell.
^sources?
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http://therealreturns.blogspot.com/2...es-in-usa.html
http://www.statcan.ca/start.html
http://www.crea.ca/
Last edited by Nick 99 : Today at 09:03 AM.
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Last edited by Nick 99 : Today at 09:03 AM.
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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?
Last edited by RBull; Apr 12, 2008 at 09:02 AM.
^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.
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From: Oakville, Canada
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
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
__________________________________________________ _____________
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
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