Saturday, 3 March 2012

Housing bubble hasn't popped but compare prices in Vancouver and Ireland.

See photos of three little houses in the Kitsilano district that are priced over $800,000 while a palatial ocean-front hotel in Donegal just sold for $860,000.   Donegal is an outlier but the Vancouver listings are not.  This is Canada's achilles heel.   Link to GlobalEconomicAnalysis
"Irish real estate prices have crashed since 2007-08, when the so-called "Celtic Tiger" economy collapsed. Home values have fallen more than 60 percent below their peak five years ago, and commercial properties have suffered similar declines.There you have it: "amazing views"  in Vancouver for $899,000 vs. "amazing views" in Donegal for $860,000." 
2119 East 3rd Ave, Vancouver  $899,500
MLS® Number V934050
And in Donegal, Ireland.  Purchaser was pleased to keep on the staff of fifty.

Hotel on the Donegal coast. Lovely interior.

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