Vancouver,BC, Canada is a city known for many things. It is known for its 2010 Vancouver Olympic Games and it's highly populated Asian communities. What is unusual is it's housing bubble. The real estate here has increased a lot with the average home price of over $1,000,000 and that's not good enough to get you the home of your dreams.
An example is something like the house above. It was sold for $1,688,000 and it was in a horrible state so it's probably going to be torn down and rebuilt. The neighbor found out about the sale and had lived there for less than three months. They bought it for $1,047,000 and sold it for $1,357,000. There are many desperate people out there. Rich Chinese people are driving the market with their pocketbooks open, Vancouver seems like a good spot for them.
Vancouver will have it's bubble grow until it one day pops and its the end of Vancouver itself.
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