$1 million? Not quite, but a modest east side bungalow like this is still way of the price range of myself and many other potential first time buyers.
This game, which I discovered from this fascinating Bloomberg article, is silly and deliberately off in terms of the pricing for its “mansions.” But it make a sobering prove a point.
The point is that young people – my generation of first time HOME buyers (this does not refer to condos) – have only one feeling when thinking about purchasing a home in the city of which I was born (yes, one of the few): hopelessness.
So professionals like Robert Hogue, a senior economist at RBC Royal Bank, say that “The type of price increases that we’ve seen in Vancouver are unlikely to be sustained. There might be some downside risk to that market.”
OK. I suppose that should provide some kind of hope…right?
Wrong.
