The article is somewhat interesting, sure, but as noted by Jesse above, it's rather old. That's a bit disappointing. I suggest adding a reference to the publishing date somewhere in the post. I read through the article at first thinking it, and the Bloomberg & WSJ pieces, had just recently been published.

Solutions, anybody? The best one those contacted by The Province could offer runs along these lines: Suck it up, princess. High Vancouver house prices are here to stay.

That about sums up the journalistic pedigree of the Province.

Read more: http://www.theprovince.com/business/House+prices+…

The housing bubble is definitely hurting the education sector. UBC may be able to afford to give their new hires a supplement or loan of some kind to buy into the housing market, but most other educational institutions cannot do that.

@CanNeverThinkOfaGoodName: Great…so the taxpayer gets bent over again.

Can anyone tell me how much rents have gone up since, 2006?

My landlady is now humming and hawing about whether to sell or refinance. She is considering refinancing and holding if she can raise the rent. I know she can't legally raise the rent more than a couple of dollars, but if she really is going to sell, I'd rather pay more rent and stay. (I also know that she would be an idiot to refinance and hold in hopes of more appreciation, but I have actually told her that I think prices will go down, so I have done by bit.) Does anyone have a link to some kind of official statement about how much rents have gone up, which I can point to as an indicator of market price?

@Best place on meth:

So the CMHC, god bless their simple little minds believes that low interest rates support high prices forever.

Not really what they said, but I know you're not one for critical thought.

@Patiently Waiting: As much as we'd like to shake all these prospective in-migrant workers and tell them it's only expensive to buy, not to rent…most people (especially in the median income range) feel that their only road to financial security is by owning a home, so if buying isn't an option they will want to look elsewhere.

„According to the Province article, detached resale prices are predicted by the CMHC to rise by 2.2% this year. Yet according to the Housing Market Outlook<a / rel="nofollow"> released by the CMHC today, resale prices across the province are expected to fall by 1.5% and the NHPI for Vancouver is also predicted to fall (very slightly).

This is a pretty bearish prediction coming from the same group who, as late as fall 2011 (BC Housing Market Outlook, Fall 2011)<a / rel="nofollow"> predicted a 17% price increase in the Vancouver area prices by the end of 2011. A laughable prediction when looking at the graph immediately below that statement.

Nutty that anyone takes seriously CMHC forecastss. That they are constantly published in newspapers is downright maddening.

@patriotz:

"30 minute train ride from Manhatten."

I'm not familiar with NY, but Google seems to suggest it's over an hour by public transport. How did you derive the 30 min figure?

@Troll:

BPOM did not say that that is what CMHC "said" but that it is what CHMC "believes". A belief can be determined on the basis of reasonable inferences. Unless you are a mind-reader, that is the only way to determine what someone believes.

what the article talks abt is correct. I had a client which was suppose to come here and teach at the Emily Carr school of arts and once he saw the housing prices he declined the job and stayed in California.

@N: "Does anyone have a link to some kind of official statement about how much rents have gone up, which I can point to as an indicator of market price?

"

One option is to search Craigslist for comparables then show your landlord.

oh, common guys

we are talking about condos here. condos are very affordable now.

for house prices, please post at vancovuer-house.info (if any )