Quote:
Originally Posted by Slava
Am I the only one who doesn't believe the graph does shoot up like that? I know we were resilient in Canada, but housing prices didn't continue that upward trajectory through 2008 and beyond. Something seems wrong...
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That chart is a little silly in that it seems to operate on 5 year increments but the overall numbers are correct. By the end of the chart's timeline (end of 2009) prices were that much higher in those cities when compared to 1996. If the chart was more precise, it would have shown an even steeper rise between 2005 and early 2008 where Calgary's real estate hit 240% of 1996 levels before dropping down a bit to 190% in 2009. So the end results are correct but the path prices took to get there are a little misleading. There has been a bit of a drop off from the peak, but it's still increased that much more than income in that span.