If you haven’t seen it yet, you should really check out this post by Ben Rabidoux over at The Economic Analyst.
This report was put together mid-June and things haven’t gotten any better since then.
It’s a lot of stuff you already know, but some data you may not have seen and it’s jam packed with beautiful charts.
Check out the how the BC economy has grown in construction, but flatlined outside:
And there’s this little data point as well:
Before diving into the data, consider this fun anecdote: There are currently over 5,000 homes in Vancouver metro area for sale for over $1 million according to MLS.ca. In comparison, the NAR reports that in April, just over 7,000 homes sold in the entire US were sold for over $1 million. And this despite the fact that the US population is 135X greater than the metro Vancouver market, the average personal disposable income in the US is 20% higher than the Vancouver average ($37,100 vs. $30,800) while US per capita GDP is higher than the average for all of BC.
Do yourself a favour and read the full post over at The Economic Analyst if you haven’t already.