Southseacompany pointed out this article at global news: according to zolo, Vancouver home prices have lost almost half of their down payment value in one year.
“Once considered Canada’s hottest locale for real estate, home values in the West Coast city took a beating over the course of a year, with the average home price dropping from over $1.1 million in February 2016 to $995,583 a year later.”
“Zoocasa calculated the loss (or gain) of return by taking the year-over-year change in average home prices and then dividing it by the down payment buyers would have had to make in February 2016.”
“By this measure, Vancouverites lost 49 per cent of the return on their down payments.”
Read the full article here.