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IPFS News Link • Housing

The Biggest Real Estate Bubble Of All Time Just Did The Impossible

• zerohedge.com by Tyler Durden

Fast forward to today, when we can scrap the almost part: according to the latest data from the Real Estate Board of Greater Vancouver, nearly a year after British Columbia implemented a 15% property tax targeting foreign buyers, in May the biggest real estate bubble of all time did the impossible and in a testament to the persistence of Chinese oligarchs, criminals, money launderers and pretty much anyone who is desperate to park their cash as far away as possible, after a modest drop following last summer's tax the Vancouver housing bubble has bounced right back to new all time highs, as prices of detached, attached houses and apartment all surged to new record highs.

According to the Real Estate Board, the breakdown in prices by category was as follows:

For condominiums, the benchmark price was C$571,300 last month, a 17.8% jump over the past 12 months and 3.1% more than April 2017.

The benchmark price of an attached unit was C$715,400, 13.1% more than a year ago, and a 1.9% increase compared to April 2017.

The benchmark price for detached properties was $1,561,000, an 3.1% increase over the last 12 months and a 2.9% increase compared to April 2017.


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