11 ms·

At least the US had a small housing crash in 09/10, most of the rest of the world hasn't seen that so its been 3 decades of non-stop boom. It has to add badly.

by zz865 5y ago

At least the US had a small housing crash in 09/10, most of the rest of the world hasn't seen that so its been 3 decades of non-stop boom. It has to add badly. I thought the baby boomers retiring would cause a lot of downsizing but that just hasn't happened.

refurb 5y ago
Exactly. I'd say the US housing market has less risk than other countries. Canada barely saw a blip during 2008. The average house price peaked at over $700,000 this summer. That's not Toronto or Vancouver, that's Canada as a whole, including places like god damn middle of nowhere BC. It did drop to the mid-600's after that. In the mean time the US average house price went from mid-$200k to mid-$300k over the past few years.
- TMWNN 5y ago
  >In the mean time the US average house price went from mid-$200k to mid-$300k over the past few years. This is also why Canadians continue to flock to the US. They get higher salaries and lower housing cost. Further, while it's impossible in Canada to reach the top of one's profession without living in Montreal, Toronto, or Vancouver (add Edmonton and Calgary if in energy), it's entirely possible to reach the top of many industries in the US without living in NYC/LA/Chicago/SF.
  - vineyardmike 5y ago
    > This is also why Canadians continue to flock to the US. They get higher salaries and lower housing cost As an American, I would love to move to Canada, but this is a pretty bad combo which makes it hard to justify.
- dragonwriter 5y ago
  > In the mean time the US average house price went from mid-$200k to mid-$300k over the past few years. The median sales price. But this doesn't mean home values went up that much, and if you look at home value measures, they went up less. Median sales prices went up more because of a shift of which homes were actually moving on the market.
  - refurb 5y ago
    While true, almost every market in the US has seen some level of price appreciation since Covid hit. Some have seen ridiculous increases in appreciation while others not as much. Your point about the type of home selling (larger) is no doubt true, but there is still significant underlying appreciation happening.

by zz865 5y ago

refurb 5y ago

Exactly. I'd say the US housing market has less risk than other countries. Canada barely saw a blip during 2008. The average house price peaked at over $700,000 this summer. That's not Toronto or Vancouver, that's Canada as a whole, including places like god damn middle of nowhere BC. It did drop to the mid-600's after that. In the mean time the US average house price went from mid-$200k to mid-$300k over the past few years.

TMWNN 5y ago
>In the mean time the US average house price went from mid-$200k to mid-$300k over the past few years. This is also why Canadians continue to flock to the US. They get higher salaries and lower housing cost. Further, while it's impossible in Canada to reach the top of one's profession without living in Montreal, Toronto, or Vancouver (add Edmonton and Calgary if in energy), it's entirely possible to reach the top of many industries in the US without living in NYC/LA/Chicago/SF.
- vineyardmike 5y ago
  > This is also why Canadians continue to flock to the US. They get higher salaries and lower housing cost As an American, I would love to move to Canada, but this is a pretty bad combo which makes it hard to justify.
dragonwriter 5y ago
> In the mean time the US average house price went from mid-$200k to mid-$300k over the past few years. The median sales price. But this doesn't mean home values went up that much, and if you look at home value measures, they went up less. Median sales prices went up more because of a shift of which homes were actually moving on the market.
- refurb 5y ago
  While true, almost every market in the US has seen some level of price appreciation since Covid hit. Some have seen ridiculous increases in appreciation while others not as much. Your point about the type of home selling (larger) is no doubt true, but there is still significant underlying appreciation happening.