“This Is Pretty Freaking Nuts”: Vancouver Home Sells For $735,000 Above Asking Price

from Zero Hedge

In Canada, an interesting paradox is visible.

On the one hand, the country’s oil patch is dying a slow death in Alberta, where the worst 12 months for job losses in 34 years is contributing to rising property crime, higher food bank usage, and a rash of unsold condos and empty office space in Calgary.

On the other hand, if you were to take a look at real estate in Vancouver and Ontario you’d think you were looking at home prices for an economy that’s thriving.

In fact, prices in Vancouver have reached nosebleed levels. In January for instance, the average selling price of detached homes was an astronomical $1.82 million.

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