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To: downandout who wrote (38089)	8/16/2015 9:01:27 PM
From: forbrydelsen	Respond to of 49402

certain data gets skewed when people lump in Vancouver property price rises all together. The condo market and the house market are VASTLY different. If one looks at long term charts of one against the other, there are times when they move more or less in unison and times when they diverge quite significantly. Now is one of those times. Condo prices, whilst they have appreciated haven't really gone up that much over the last 7 or 8 years (I was unfortunate enough to have bought an apartment downtown 7 years ago at the last peak and only just now back to 'breakeven') whereas house prices have skyrocketed. If you see a chart the house prices, due to land value increase has gone up aggressively whilst apartment prices the slope is much flatter with a more gradual climb. So when all these articles come out about how over-valued Vancouver housing is, I always ask, do they mean apartments or do they mean houses? Because the two markets are very different. Vancouver is very expensive but so is London, Paris, Hong Kong, Monaco etc etc. If the Chinese economy crashes, then for sure Vancouver could see its fair share of spillover as the Chinese economy is probably more important to Vancouver housing than the Canadian one is these days. But over the long term, I think Vancouver will remain a desirable place to live and people really shouldn't say its way overvalued just because they see something in Regina or Windsor Ontario is much cheaper (no offence to those locations!). Its just not comparable.