Vancouver Housing Prices up 40%, Despite Foreign Buyer’s Tax

Price Tags


This article by Bloomberg News via Frances Bula says it all.While housing price increases went up by 40 per cent in the last year in Vancouver, there is a dearth of houses listed for sale.  “What you see instead is the shortest list of homes for sale in almost a decade, even as the price of a typical single-family home surged to C$1.5 million ($1.1 million), about 20 times what the median household earns in a year”.

” Vancouver isn’t the only place in the world, or even in Canada, where house prices have soared beyond the reach of residents: it’s happening in the global economy’s poster-towns, like London and San Francisco, and in less-feted Auckland, Stockholm and Toronto too. A common thread that links such cities is curbs on the availability of land for building. Yet as the Vancouver boom turned into a crisis of affordability, and…

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