Real Estate Sadness

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You what’s really sad and depressing?

 

No, it’s not the fact that less than a month away people down south will have to choose between Hilary Clinton and Donald Trump. I actually don’t care much for politicians except for times when they’re handing out free sandwiches in my general vicinity. Rest of the time they’re fairly useless in improving lives of general population, so why bother pay attention to them.

 

No, what’s really sad and depressing is rising real estate prices in Canada.

 

Even though prices seem to be stabilizing and in some places going down, real estate prices in Canada are still outrageously high. Average price of a detached house in Vancouver after a major sell-off is sitting at cool $1.5M. Oh my, what a bargain! Not really.

Doesn’t get much cheaper if you pick Toronto – average detached house will set you back roughly $1.3M. Calgary? Around one million. Kelowna, BC where we call home – about $700,000. Yes, much cheaper than Vancouver where we lived for a bit, but keep in mind that incomes around here are much lower as well.

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