Vancouver Housing Market Starting to Crash

I really hope the real-estate bubble is bursting, especially here in Vancouver. I know that it’s probably not good for real estate agents (sorry Dad), or people who bought in the last year (sorry cousin Adrian), or the economy in general, but it had to happen eventually. Prices just don’t reflect reality any more. Check out the slope on the graph of prices in Vancouver – they’ve gone exponential in the past 3 years. The average home in Vancouver costs over $500,000. Who can afford that!?

The signs the the bubble is bursting are starting to appear:

Maybe in a year or so when the market finishes crashing I’ll be able to afford something in this city. Until then I’ll keep on renting.

Photo from Emily’s trip to Uganda.

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