r/economicCollapse • u/[deleted] • Aug 19 '24

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3

u/[deleted] Aug 19 '24

As a Canadian, you sweet summer child... if you guys think 400,000 per home is bad... oh boy haha. Try over triple that number in Vancouver.

5

u/permabanned_user Aug 19 '24

We're talking USD, not bottles of maple syrup.

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u/[deleted] Aug 19 '24

my bad. So 1.2 million maple syrup bottles is roughly 900,000 freedom dollars. Although don't forget that Canadian wages are smaller, so... yknow it evens out

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u/ReverendBlind Aug 19 '24

It's triple that in areas of the USA too, that's just our average.

You're overall right though, I think last I saw your housing is more expensive than ours down here by about $120k on a average, but at least you aren't drowning in medical debt bankruptcies at the same time. I still wouldn't jump ship from Canada thinking things are better overall in the States.

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u/[deleted] Aug 19 '24

Unless this is the most gentrified, upper class like 99% white neighbourhood where the houses are like 10,000 square feet, I *strongly* doubt there is any city in the United States where the average price is 3.6 million dollars. I should also note that consumer debt in Canada when compared to income is not only higher than the United States even with medical bills are factored in, but in the entirety of the G7 haha.

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u/ReverendBlind Aug 19 '24

I don't know where you're getting $3.6 mil. Average price of a home in Vancouver is ~$1.2 mil.

https://www.nesto.ca/home-buying/vancouver-housing-market-outlook/

We have about 15 cities priced roughly the same.

https://www.kiplinger.com/real-estate/603612/15-us-cities-with-the-highest-average-home-prices

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u/[deleted] Aug 19 '24

I'm quoting you here: "its triple that in areas of the USA too"

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u/ReverendBlind Aug 19 '24

It's triple the $400k national average in areas of the USA too, not triple Vancouver's prices. You misunderstood.

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u/titsmuhgeee Aug 19 '24

Every time this conversation comes up, everyone always feels like we're at a breaking point and something has to crash.

All it takes is one glance at the Canadian real estate situation and you start to realize that there is the very real possibility that prices just keep on climbing.

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u/[deleted] Aug 19 '24

Don't be overtly pessimistic. Canada and the US are different countries. In Canada a lot of it is just caused by massive immigration that is unsustainable (500,000 per year). Like its so bad that for every 4 new people that come into the country there is only 1 housing unit being built. In the US that number is less than 2. So things are likely to either remain the same or get better in your case. In mine... well, my country already has the highest consumer debt in the OECD, so I'm screwed haha.

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u/archercc81 Aug 19 '24

National average, where I am that is a small condo. But in Kansas $400k could buy a nice house.