Thursday, January 28, 2016

Shudders — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate

Book and Weblog – Authored by Garth Turner — Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate: "This is the work of analyst Andy Yan who illustrates an incredible fact: in less than a year the number of homes assessed at $1 million or more in Vancouver has increased from 65% to an historic 91%. More arresting, these numbers are six months old, and prices rose another 4-5% since then.

Says Yan: “The low cost of borrowing over the last decade, the effect of global capital entering the residential market, a growing city population, speculative purchase behavior, a cultural and financial predisposition to home ownership versus renting and generational wealth transfer have all shaped the values of residential property.” "



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