Comments on: Why expect a significant correction? http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html?utm_source=rss&utm_medium=rss&utm_campaign=why-expect-a-significant-correction Bubble? What Bubble? Thu, 24 May 2012 18:26:10 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Latest condo buying news – Buying First Condo in South Jersey http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-106358 Latest condo buying news – Buying First Condo in South Jersey Tue, 16 Nov 2010 03:37:41 +0000 http://vancouvercondo.info/?p=1428#comment-106358 [...] Rental yield and house price correction probabilities – Vancouver … [...]<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-106358">0</span> <small>(to vote for this comment, please visit the site)</small></p> [...] Rental yield and house price correction probabilities – Vancouver … [...]

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]]> By: logic http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-56334 logic Fri, 30 Oct 2009 23:43:46 +0000 http://vancouvercondo.info/?p=1428#comment-56334 jennifer i would move then sounds like the wise decision for you and your family <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-56334">0</span> <small>(to vote for this comment, please visit the site)</small></p> jennifer

i would move then

sounds like the wise decision for you and your family

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]]> By: Jennifer http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-56328 Jennifer Fri, 30 Oct 2009 22:46:44 +0000 http://vancouvercondo.info/?p=1428#comment-56328 You all over overlooking the kindergarten math of the whole situation. Median house prices are overall "acceptable" when they're about 5X the median annual family income for the area. House price/20 years/12 months = 1/3 average monthly family income = happy people in a house they can afford. Cheaper than that = extra happy people. More expensive = sad people in a house they're struggling to pay for. That the median house price right now is almost double that means that, unless you owned a house before prices went up, don't plan on buying one now. It also means that we, as a family who makes more than the median family income for Vancouver, would have to go all the way to Abbotsford before we could afford a 2 bedroom condo, let alone an actual house. It ALSO means we're looking at a lovely 30-acre oceanfront property with a 4-bedroom house and a retail shop in PEI for $150k, since hubby's job isn't tied to where he lives. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-56328">0</span> <small>(to vote for this comment, please visit the site)</small></p> You all over overlooking the kindergarten math of the whole situation.

Median house prices are overall "acceptable" when they're about 5X the median annual family income for the area. House price/20 years/12 months = 1/3 average monthly family income = happy people in a house they can afford. Cheaper than that = extra happy people. More expensive = sad people in a house they're struggling to pay for.

That the median house price right now is almost double that means that, unless you owned a house before prices went up, don't plan on buying one now. It also means that we, as a family who makes more than the median family income for Vancouver, would have to go all the way to Abbotsford before we could afford a 2 bedroom condo, let alone an actual house. It ALSO means we're looking at a lovely 30-acre oceanfront property with a 4-bedroom house and a retail shop in PEI for $150k, since hubby's job isn't tied to where he lives.

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]]> By: eideardmil http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-55987 eideardmil Thu, 29 Oct 2009 14:22:24 +0000 http://vancouvercondo.info/?p=1428#comment-55987 <a href="http://collaborationproject.org/display/~colemancable" rel="nofollow">http://collaborationproject.org/display/~colemanc...</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-55987">0</span> <small>(to vote for this comment, please visit the site)</small></p> http://collaborationproject.org/display/~colemanc…

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]]> By: philbertab http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-55986 philbertab Thu, 29 Oct 2009 14:21:35 +0000 http://vancouvercondo.info/?p=1428#comment-55986 1990 <a href="http://collaborationproject.org/display/~blondellrutla" rel="nofollow">http://collaborationproject.org/display/~blondell...</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-55986">0</span> <small>(to vote for this comment, please visit the site)</small></p> 1990 http://collaborationproject.org/display/~blondell…

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]]> By: louisacowe http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-55985 louisacowe Thu, 29 Oct 2009 14:14:25 +0000 http://vancouvercondo.info/?p=1428#comment-55985 <a href="http://collaborationproject.org/display/~allurabaldw" rel="nofollow">http://collaborationproject.org/display/~alluraba...</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-55985">0</span> <small>(to vote for this comment, please visit the site)</small></p> http://collaborationproject.org/display/~alluraba…

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]]> By: zakarylawh http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-55983 zakarylawh Thu, 29 Oct 2009 14:09:07 +0000 http://vancouvercondo.info/?p=1428#comment-55983 <a href="http://www.wikipatterns.com/display/~merciaeaste" rel="nofollow">http://www.wikipatterns.com/display/~merciaeaste</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-55983">0</span> <small>(to vote for this comment, please visit the site)</small></p> http://www.wikipatterns.com/display/~merciaeaste

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]]> By: daylecaden http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-55982 daylecaden Thu, 29 Oct 2009 13:50:27 +0000 http://vancouvercondo.info/?p=1428#comment-55982 variability earth <a href="http://collaborationproject.org/display/~angleseydaigl" rel="nofollow">http://collaborationproject.org/display/~anglesey...</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-55982">0</span> <small>(to vote for this comment, please visit the site)</small></p> variability earth http://collaborationproject.org/display/~anglesey…

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]]> By: branddunca http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-55981 branddunca Thu, 29 Oct 2009 13:24:32 +0000 http://vancouvercondo.info/?p=1428#comment-55981 events serious <a href="http://collaborationproject.org/display/~lacyannpelle" rel="nofollow">http://collaborationproject.org/display/~lacyannp...</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-55981">0</span> <small>(to vote for this comment, please visit the site)</small></p> events serious http://collaborationproject.org/display/~lacyannp…

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]]> By: wichammmcc http://vancouvercondo.info/2009/10/why-expect-a-significant-correction.html#comment-55980 wichammmcc Thu, 29 Oct 2009 13:18:36 +0000 http://vancouvercondo.info/?p=1428#comment-55980 <a href="http://arnoldpalmer.usgamuseum.com/service/displayKickPlace.kickAction?u=13959719&as=111503" rel="nofollow">http://arnoldpalmer.usgamuseum.com/service/displa...</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-55980">0</span> <small>(to vote for this comment, please visit the site)</small></p> http://arnoldpalmer.usgamuseum.com/service/displa…

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