For the media commentariat and grandstanding politicians even the solutions to the housing market are simple – not realistic but simple.

Don’t miss Michael’s comment on The one sided love affair between the PM and the President

Capital hates uncertainty so it will shift from the primary financial centre London to the safety the US Dollar and New York. These shifts will boost real estate in the NY Financial centre…. as well as in Canada

related and very clever, Tyler with Michael:

Take Advantage Of the Brexit Crisis

The story of a humble 86-year-old home in Vancouver’s Point Grey neighbourhood was widely circulated by national media outlets and became a lightning rod for local frustration with skyrocketing property values.

The “knockdown”, with its rotting walls and $2.4 million asking price, perfectly underscored how crazy the region’s overheated housing market had gotten. 

A month later, the house was sold for $80,000 above its asking price, rekindling public outrage.

How did Vancouver reach this point?

This infographic’s purpose is to connect the dots between Vancouver’s history of speculation, demographic waves, public policy, and external pressures that have all had a hand in shaping today’s hot real estate market in the city.

Let’s start at the very beginning…

Anyone owning a SFD in the scorching hot Vancouver-Toronto market is sitting on an unredeemed lottery ticket.

In May 2016 Canada’s big city metro SFD prices all advanced M/M with the Vancouver and Toronto bulls posting new peak prices not only in the single family detached space but also in the townhouse and condo sectors as well. The national MLS sales volume also hit a new bizzaro high. 

The chart above shows the average detached housing prices for Vancouver, Calgary, Edmonton, Toronto*, Ottawa* and Montréal* (the six Canadian cities with over a million people) as well as the average of the sum of Vancouver, Calgary and Toronto condo (apartment) prices on the left axis. On the right axis is the seasonally adjusted annualized rate (SAAR) of MLS® Residential Sales across Canada (one month lag).

…for a larger chart, more analysis and rental information go HERE

related: Vancouver’s Affordability Freak Show

The BIG question: Will the Federal Finance Minister yield to pressure and do something to stifle Vancouver’s real estate market? Damage Canada’s most dynamic economic sector by an extremely large margin. In 2015 Canada created 144,000 jobs of which 110,000 were in BC, mostly in construction related to real estate…much more to in Michael’s Mid-Week Update

More from Michael: Time To Demand The Facts