Over at MoneySense they have a list of 4 casualties of the Vancouver real estate market.
The first one isn’t really a negative though, it’s just people jumping into the market without any conditions or clauses and taking on the risks that entails. That only affects willing participants in the market.
The other 3 points affect everyone – Empty zombie neighborhoods, high rental prices and fewer options for local food.
…land prices in the rich and productive soils of the Fraser River delta have risen and now sell in the range of $80,000 to $110,000 per acre. While prices can drop for parcels of land greater than five acres, these price increases are setting off alarm bells, especially when paired with statistics from agricultural lender Farm Credit Canada that show that any land priced above $80,000 per acre makes farming unsustainable.
Read the full article here.