It’s not just Vancouver – House prices are up 17% in one year across Canada.
Of course the big increases are happening in Toronto and Vancouver where sales and prices seem to just keep going up and up, while inventory stays low:
That”s even the case in hot markets, where homes are snapped up in record time. “Vancouver’s market is drum tight, with an almost unheard of 91 per cent sales-to-new listings ratio,” BMO economist Robert KAvcic said. “In other words, almost every new listing is getting absorbed within the month as record sales meet average growth in new listings.”
We have found the secret to unlimited wealth and it is housing debt!