Average house price in Greater Vancouver nearing $1-million mark

Someone explain to me how Vancouver is the top city in Canada to live. At 880k a 40 year mortgage would cost you 4k per month. Who can afford that? And that's for a house built in 1941. I suppose if you want to live like a hampster you could buy a 350k conda. Even that is 1600 per month. Friggin rediculous.

AVERAGE!!!!

Man I thought Calgary was bad.

Its all these offshore buyers buying this shit up and pushing the prices up...then you have a bunch of absentee landlords charging over the top rent...it is bullshit...sorry but you shouldnt get to buy a house unless you live here...fuck em

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Calgary is cheap in comparison...good thing there is an abundance of high paying jobs in Vancouver

Unfortunately it isnt just Vanouver, vancouver Island is also very expensive.

High Paying jobs dont help 80% of the population because they dont make that much and are barely able to pay rent on a decent apartment.

In Windsor, On where I live, housing has fallen by about 10% over the last couple of years. The average sale price here is 163k. No jobs mind you... Automotive has decimated this community.

Even if the job is high paying, that will still barely cover the mortgage, much less other nasty expenses like fuel and groceries.

It's a shame too as Vancouver is such a beautiful city.

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Calgary is cheap in comparison...good thing there is an abundance of high paying jobs in Vancouver

880K is 3 times the value of my home, I don't believe that I could fine a salary to match the payments.

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Calgary is cheap in comparison...good thing there is an abundance of high paying jobs in Vancouver

880K is 3 times the value of my home, I don't believe that I could fine a salary to match the payments.According to the BMO mortgage calculator with a 5 percent interest rate and 40 year term you would pay 4.5 thousand per month for that mortgage.

What will be nice is when the U.S. housing market drop hits Canada and you'll be able to buy up the same property for cheap, and the greedy bastards lose their shirt.

Happen before in Alberta, I think it's just a matter of time before they start offering "assumable mortgages" again.

What will be nice is when the U.S. housing market drop hits Canada and you'll be able to buy up the same property for cheap, and the greedy bastards lose their shirt.

Happen before in Alberta, I think it's just a matter of time before they start offering "assumable mortgages" again.It may not hit Canada. Banks don't offer a sub-prime mortgage here like they do there.

You gotta pay to live in the best Climate and Location in the Country. It is ridiculous though and won't improve for the foreseeable future.

Friends wanted me to settle down in the Lower Mainland, when we returned a few years back, and laughed when I decided on Winnipeg. I had job offers from a couple of firms and my wife had a couple of offers from different schools in Aldergrove and Abbotsford, but when my wife and I looked at houses...even out in Clearbrook, that cinched the matter of where we would buy.

Well, I own two properties(1 has almost a section of land) that are bought and paid for, one in the River Heights area of Winnipeg, and the farm is right up against Duck Mountain Provincial Forest(a 3 hr drive), great for camping, fishing(some of the larger sloughs are stocked with trout) and hunting. Had I chosen BC I'd be paying a mortgage for years to come, rather than investing it into our retirement fund. I loved BC, but financially I think we made a better choice in housing. Besides, as it stands I don't worry about Manitoba winters and when we're back, holidays in Costa Rica will make Winterpeg tolerable.