I hope the bubble does pop but I’m not holding my breath. I’m looking to move to Vancouver from the Bay Area and nothing is more depressing than looking at the real estate market up there. At least their rental market is still marginally better than SF area, but that’s small comfort. So many Canadians I know complain that the Chinese are drivering the boom but I can’t help but be skeptical… Personally I think it’s mostly a dearth of decent jobs in non-urban markets that’s causing the urban population influx and subsequent housing crunch. Also, I think lots of young buyers are being helped by their parents who have few decent ways to invest their savings right now, so reel estate for the kids sounds pretty good to them. The boomers continue to prosper. I’m just guessing, and it’s probably motivated by a desire for emotional comfort as a man in his thirties who feels like he will never own a home in a costal metropolis (woe is me).
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