Monday, June 13th, 2005
Housing lunacy
by Warren
Out here in Vancouver, the housing market is, well, insane. I happened to do pretty well by that insanity, after buying and then selling a condo, but the prices have just kept climbing up, to the point where it’s actually cheaper (by a substantial margin) for me to rent a place.
But clearly I’m not the only one thinking about this state of affairs. There’s a great blog dedicated to debating when the property bubble in Vancouver will go “pop”, and the comment section is a hotbed of “you’re all crazy/haha I’m rich” back and forth. Here’s an article in the Guardian about how property madness in Britain threatens to create more of an underclass, and there’s a good article in the NYT’s Week in Review about the possibility of a crippling global recession if property values plummet anytime soon.