Vancouver BC Real Estate Market Roller Coaster

*PLEASE RATE THIS VIDEO & COMMENT* This is a roller coaster simulation of the last 35 years of the Vancouver Real Estate market. The actual graph you're riding is the inflation adjusted value of a house in Vancouver BC based on data collected by Royal LePage and calculated by the UBC Centre for Urban Economics and Real Estate. Some of the peaks and troughs have been rounded to keep the train from flying off the tracks, but other than that slight modification it is a precise scale model of the red line on this graph:
cuer.sauder.ubc.ca/cma/data/ResidentialRealEstate/HousingPrices/housing-pri-vanc­ouver.pdf

Recent talk of a Canadian housing bubble calls for a look at the history of our bubbliest city: Vancouver BC. When the housing bubble of the early eighties popped in this city some house prices dropped by 50% over the next couple of years and didn't reach their inflation adjusted real price again for 25 years. What would a real estate market bust look like these days?

This video was created using NoLimits Roller Coaster Simulation software: nolimitscoaster.com/

Category:

People & Blogs

Tags:

• HD
• vancouver
• real estate
• bubble
• house prices
• roller coaster
• housing
• boom
• bust
• crash
• 2010
• BC
• economy

[Fierysaint1]

Hey that was the best "virtual roller coaster" ride ive had on youtube so far!! Lol! Vote up if you agree!

[lee0122333]

IT RAINS HERE 24/7. ITS COLD (WARMER THAN THE REST OF CANADA). WHY GO IN DEBT FOR SOMETHING SO OVERRATED AS PROPERTY? ISNT THERE MORE TO LIFE THAN BEING MORTGAGED UP THE ASS? MEANING TO LIFE DOESNT COME THROUGH A $1,000,000 MORTGAGE. ID SAY PEOPLE ARE BETTER OFF TO IMMIGRATE TO A DIFFERENT COUNTRY THATS BETTER THAN CANADA ALTOGETHER. PEOPLE ARE BRAINWASHED. WAKE UP. THE WORLDS A BIG PLACE. BUY A HOUSE SOMEWHERE BETTER; IT DOES EXIST!!!

[RollerCoasterKid2005]

Whoa this stuff is getting me dizzy

[IllxllI]

@fatmaggi Yes but dude face it, no one will live in a home for 100 years, heck even 20 years. We usually max out at around 10 years and switch out. We came from a 1700 Sq.ft home, finding it was not enough for a family of four, and wanted something bigger for guests and ourselves. 1400 would be a bit on the small side esp. for 4 people. Yes 3500 is more than most people need. 2300-2700 sq. ft would be optimal though.

[fatmaggi]

@IllxllI Some people prefer a 100 year old home. No offence, I'm sure your house is nice and all, but yours won't be around in 100 years. They're made for 50 years nowadays...unless you got some super sweet custom deal. Old house people vs. new house people....2 different breeds I'd say. I also think 3500 sq ft. is probably more than most need. More to clean, pay for, heat, cool, fix....My house is 1400 sq ft. Cheap, beautiful and built to last.

[IllxllI]

@fatmaggi I see where you're coming from, the natural way of getting things done. It is a good way to live life. But, I don't think its worth living in a 100 year old home vs. a 1 year home, a 2000 sq.ft home vs. a 3500 sq.ft home, brand new stuff (no problems) vs. old things, and a car for getting anywhere I need. On top of that, that 700 dollars I spend extra is way less than what you paid for your home relative to mine. And in these 'burbs' there are also rivers, lakes, trees, farms as well.

[fatmaggi]

@IllxllI I did buy a house to walk to work and groceries. I save 700 dollars a month by being a one car family. There are beautiful mature trees where I live, beautiful old houses with real brick work, a lovely river is a block from my 100 year old house. It takes me 10 minutes to walk to work. I'm healthier for it. Your claim that it's either a 20 minute drive vs. 5 minute walk IS idiotic. Many commute for an hour or more. It's best if you stay in the burbs. You don't get it.

[IllxllI]

@fatmaggi suburban shit-hole? How is it that, if it looks way better/cleaner/more natural than the city? And everything is reached by cars nowadays. If you are buying a home so you could walk to work and groceries, I consider that idiotic. Who the hell would mind driving 20 mins to work vs. 5 min to walk. Cmon. Really?

[Abitibidoug]

Wow, what a great video, it sums up the Vancouver real estate market quite well. I wonder, when prices crash why isn't there a flood of buyers then to reduce the drop? Similarly, when it goes high why aren't there more sellers trying to take profits which would stop the market from going so high? That would even out the extremes and keep the market stable, much like how a governor keeps the speed of an engine stable by giving it more power when too slow and less when it goes too fast.

[fatmaggi]

@IllxllI Well, I think it's idiotic to pay that much for a house....but I think it's even more idiotic to buy a 3500 square foot suburban shit-hole that you can't leave unless you are in a car.

[IllxllI]

@lee0122333 I know, I can't stand people dying to buy these small, old, roughly-treated homes in Toronto for like $800,000 when you could get a freaking gorgeous 3500 sq.ft like-new home just 25 minutes out. WAKE UP PEOPLE.