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The biggest threat to our strong real estate market and local economy is a generation of buyers who, in pursuit of the housing dream, throw caution to the wind, assume a crippling mortgage, and take on more debt than they can handle.
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"Demand has been increasing for months and supply is not keeping pace."
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For the doubters out there, Toronto's housing landscape is proof that Darwin's theory of evolution is, in fact, the real deal. As single-detached houses join the list of endangered species here in the 416, we're seeing the emergence of new forms of high-density housing, made to survive this storm of rising prices and dwindling supply, all by virtue of their very design.
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Half the money circulating through Vancouver's housing market has vanished.
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Chinese nationals who convert currency must promise not to buy real estate with the money.
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House prices rise as the population falls, and other fun factoids from Canada's senseless housing market.
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Vancouver house prices have fallen 6.6 per cent while sales have dropped by 40 per cent.
As house prices grow higher, questions about foreign buyers' role grow louder.
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Something happened in Toronto's housing market over the past year that really shouldn't happen in a free market. As home prices shot through the roof, the number of homes being built in the city dropped dramatically. Vancouver seems to be experiencing a similar problem. So what's going on here? Why is the supply of housing not keeping up with demand, even though there is so much money to be made? The answer, according to a growing number of experts, is that local policies and public opposition to development are killing off home construction, causing home prices to skyrocket.
Foreign buyers are bailing on B.C.
House prices forecast to fall in time for provincial election.
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House prices have fallen 5.6 per cent in two months.
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Prices are still rising ... for now.
But you'll hear a different theory if you ask someone else.