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> I doubt you can build any house, let alone a mansion, anywhere in Canada for that price. For $800k? What are you spending your money on? A modest home should

> I doubt you can build any house, let alone a mansion, anywhere in Canada for that price. For $800k? What are you spending your money on? A modest home should be nowhere near that much, at least where the majority of Canadians live. > At least anywhere a person would want to live. From what I've read, permitting alone would cost that much in Vancouver before you even break ground. The vast majority of Canadians do not live in Vancouver. Nor do they live in Toronto. The fastest growing community in Canada is Warman, SK[1], with 55% growth from 2011-2016. If that impressive influx of people doesn't indicate desire to live in the location, I don't know what does. I'll grant you that mansion is subjective, and it is difficult to link to something that hasn't been built yet, but here is a recently built large (2800 sq. feet), stylish home in the region listed at under $800k[2]. > Housing in all of Canada has been in a massive bull market for 20 years with the only noteworthy correction being the short pause after the 2008 crisis. Are you still conflating the Canadian housing market with the Toronto and Vancouver housing markets? There are several provinces where the average home price is in decline. [1] http://www12.statcan.gc.ca/census-recensement/2016/dp-pd/prof/details/page.cfm?Lang=E&Geo1=CSD&Code1=4711068&Geo2=CSD&Code2=4701011&Data=Count&SearchText=Warman&SearchType=Begins&SearchPR=01&B1=All&GeoLevel=PR&GeoCode=4711068&TABID=1#map-popup http://www12.statcan.gc.ca/census-recensement/2016/dp-pd/pro... [2] https://www.realtor.ca/Residential/Single-Family/18086922/619-Evergreen-TERRACE-Warman-Saskatchewan-S0K4S2 https://www.realtor.ca/Residential/Single-Family/18086922/61...

mistermann 9y ago
Oh, I was referring to $180k, maybe I misread. > Are you still conflating the Canadian housing market with the Toronto and Vancouver housing markets? There are several provinces where the average home price is in decline. These discussions are ridiculous. Other than a few isolated places, housing across all of Canada has been going up substantially for well over a decade. That the entire country has not gone parabolic like Toronto and Vancouver does not mean it is not outpacing inflation substantially. Continue to deliberately misunderstand at your leisure.
- randomdata 9y ago
  > Other than a few isolated places, housing across all of Canada has been going up substantially for well over a decade. The average Canadian home price in 2005 was about $250,000 CAD. The average home price today, excluding Toronto and Vancouver, is about $300,000 CAD (in 2005 dollars). That is 1.6% average growth per annum. 1.6% real growth is substantial? It is not nothing, but I think you're being a tad overdramatic. If any other asset class only returned a measly 1.6%, we'd call that disappointing. The story is, of course, quite a bit different once you include Toronto and Vancouver. But that's been the entire discussion up to this point, so I'm sure I don't need to reiterate that yet again.
  - mistermann 9y ago
    Is that a constant definition of home, or is a greater proportion of condos ignored?
    - randomdata 9y ago
      Average national home price as reported by CREA. And, as we already discussed, real growth from May 2016 to May 2017 was just 2% including Vancouver and Toronto. Several provinces are seeing real decline in home prices. I'm not seeing where this substantial growth across the entire country is hiding...?
      - mistermann 9y ago
        "While that might put peak price growth behind us, the question is how much the market will cool from the unsustainable 30-per-cent-plus pace, and how long the adjustment will persist,” he said in a statement." https://www.theglobeandmail.com/real-estate/the-market/canadian-home-sales-cool-gta-leads-decline/article34986046/ https://www.theglobeandmail.com/real-estate/the-market/canad... How the country is growing 2% overall when the most populous region by far grew at 30% last year, and nowhere noteworthy is going down. 6.5M/36M x .3 = 5.4% national growth just from the GTA. We also have no inflation in Canada despite housing affordability being a major issue. Your guess is as good as mine.

mistermann 9y ago

Oh, I was referring to $180k, maybe I misread. > Are you still conflating the Canadian housing market with the Toronto and Vancouver housing markets? There are several provinces where the average home price is in decline. These discussions are ridiculous. Other than a few isolated places, housing across all of Canada has been going up substantially for well over a decade. That the entire country has not gone parabolic like Toronto and Vancouver does not mean it is not outpacing inflation substantially. Continue to deliberately misunderstand at your leisure.

randomdata 9y ago
> Other than a few isolated places, housing across all of Canada has been going up substantially for well over a decade. The average Canadian home price in 2005 was about $250,000 CAD. The average home price today, excluding Toronto and Vancouver, is about $300,000 CAD (in 2005 dollars). That is 1.6% average growth per annum. 1.6% real growth is substantial? It is not nothing, but I think you're being a tad overdramatic. If any other asset class only returned a measly 1.6%, we'd call that disappointing. The story is, of course, quite a bit different once you include Toronto and Vancouver. But that's been the entire discussion up to this point, so I'm sure I don't need to reiterate that yet again.
- mistermann 9y ago
  Is that a constant definition of home, or is a greater proportion of condos ignored?
  - randomdata 9y ago
    Average national home price as reported by CREA. And, as we already discussed, real growth from May 2016 to May 2017 was just 2% including Vancouver and Toronto. Several provinces are seeing real decline in home prices. I'm not seeing where this substantial growth across the entire country is hiding...?
    - mistermann 9y ago
      "While that might put peak price growth behind us, the question is how much the market will cool from the unsustainable 30-per-cent-plus pace, and how long the adjustment will persist,” he said in a statement." https://www.theglobeandmail.com/real-estate/the-market/canadian-home-sales-cool-gta-leads-decline/article34986046/ https://www.theglobeandmail.com/real-estate/the-market/canad... How the country is growing 2% overall when the most populous region by far grew at 30% last year, and nowhere noteworthy is going down. 6.5M/36M x .3 = 5.4% national growth just from the GTA. We also have no inflation in Canada despite housing affordability being a major issue. Your guess is as good as mine.