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The average home price in the Northeastern United States is now $1,037,000 which is well over triple that of the UK and more than double that of Canada.
That average is much higher in Ontario, Toronto obviously but even a small bumpkin city like Ottawa is 1 million + for an ordinary bungalo it is nuts. And Vancouver metro on the West Coast, hoooollllly crap...
That average is much higher in Ontario, Toronto obviously but even a small bumpkin city like Ottawa is 1 million + for an ordinary bungalo it is nuts. And Vancouver metro on the West Coast, hoooollllly crap...
My friend who lives near Vancouver came to visit me here in West Virginia. He asked what I had paid for my land and when I told him he laughed. He said it would cost millions of dollars for the same over there.
I like how foreigners love to make fun of the 'quality' of American homes being made of wood. Have you ever been to a house in the UK or Europe? They are small, and most don't fit modern day amenities. Many, if given the opportunity would switch to an American home in a heartbeat.
I will say though that craftsmanship of new homes are not on par with homes built in the first half of the 20th century.
Homes come in any size in the UK. Some can be huge, but since price per sqft (or should I say sqm) is more expensive, the average middle class Briton lives in a smaller home. However, the material of the average UK home is far superior to the average American home. To deny this is to deny reality.
I see some people are trying to use homes built in South Florida which have stronger building codes due to hurricanes. South Florida (where I live btw, Miami Beach) is not the norm.
My friend who lives near Vancouver came to visit me here in West Virginia. He asked what I had paid for my land and when I told him he laughed. He said it would cost millions of dollars for the same over there.
It's the same story around the world, endless easy funny money credit from Central banks over years and years. The party is about to come to an end
Well it would be nice, as I mentioned before if the NYPost compared Average to Average and median to median in both countries. Instead they took the average for Canada and the Median for the U.S. These are two different measures of central tendency and can have significantly different results.
As of February, the Canadian Real Estate Association reported that the average price of a Canadian home stood at 816,720 Canadian dollars, or $646,809 — over nine times the average household income.
In contrast, the US has seen slightly lower price increases, with home prices rising 27% over the same period, Fortune previously reported. In America, the median home price last month stood at $375,000, an all-time high and a 15% rise from a year prior.
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