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> In Vancouver, B.C. [..] mainly Chinese buyers drove the average home price to $1.038 million in January 2016. > by January 2017, the average home price in Va
by matt_wulfeck 9y ago
> In Vancouver, B.C. [..] mainly Chinese buyers drove the average home price to $1.038 million in January 2016.
> by January 2017, the average home price in Vancouver had plunged to $878,242 [...] in the wake of the B.C. government’s 15-percent foreign-buyer tax on home purchases
It seems to me you have a clear way to keep the market affordable for residents.
- saosebastiao 9y ago$878k is still not affordable, and Seattle is still not Vancouver.
- walrus01 9y agoalso, $878k is the median "home" price, which includes bachelor/1BD size condos, which skew down the price. The median price for a small single family detached home in Vancouver is still way higher than $1.4m. People are buying teardowns in the Kerrisdale neighborhood for just the value in the lot, 50 ft wide, at $2.1m.