Calgary’s Housing Market Collapses While “Three-Alarm Blaze” Burns Next Door In Vancouver
by Tyler Durden
ZeroHedge.com
02/16/2016
In Waterloo, Ontario, the property market is red hot.
Dubbed “Canada’s Silicon Valley,” the city of just 140,000 people is drawing interest from real estate investors far and wide. Waterloo is around 70 miles west of Toronto and is home to a Google office as well as two universities and “dozens” of startups.
One-bedroom apartments in a new development being pitched to investors are going for CAD$270,000 while a two-bedroom will run you CAD$340,000. Rents in the building are as high as $2,000/month.
Vacancy rates are running at just 1.5%.
Meanwhile, in Vancouver, housing has gone full-retard. Average home prices for detached residences rose to an astronomical $1.82 million in January. It’s not as insane in Toronto, but at $631,092, there aren’t too many “bargains” to be had.
The Rest…HERE
