Artificially lowered interest rates major cause of increased housing prices

Housing prices in Vancouver have gotten a lot of attention over the last few years. According to Demographia, the City of Vancouver is the most expensive place to live in North America, with a median income of $69,700 and a median home price of $756,200.And prices continue to rise—last year alone, home prices in Vancouver rose 30 per cent. The disconnect between incomes and home prices strongly suggest demand for homes is coming from outside the city. Indeed, one study from the University of British Columbia found that about 70 per cent of recent home purchases on the West Side of

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