Can We Stop Talking About The Price Of Real Estate In Vancouver?

Er, no. We can't.
Sorry.

The Vancouver Sun can't either. Which sort of cracks me up when the weekend edition is filled with promotional pieces about all these great deals and magical condos springing up all over the place.

According to the Sun, with the still climbing prices of homes in Vancouver, a family would now require $114,000 to afford an 'average' home priced around $455,000. That alone is a bit of a fantasy, since the homes in my South East neighbourhood - townhomes - are going for around $520,000.

With today's mortgage rates that means you would be shelling out around $3000 a month JUST ON YOUR MORTGAGE.

Needless to say, unless my family moves to Duncan, or we win big on the lotto, we won't be buying anytime soon.

So yes, for a lot of people Vancouver IS the most expensive place to live. Thanks Diandra.

Unless Vancouver starts attracting more businesses...that are NOT construction, I really don't know how incomes are going to continue to support the booming real estate.

I have a feeling we will have to wait until after the Oympics to see any adjustments to incomes and the real estate market.

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Can We Stop Talking About The Price Of Real Estate In Vancouver?

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