On 2024-12-21 12:51, Tom Elam wrote:

A few years back Alan Baker claimed that his tiny 500 square foot
Vancouver condo was valued about the same as my 3000+ square foot 4
bedroom, 2.5 bath, 2 car garage Carmel Indiana home. He stated the
difference was Vancouver is such an attractive place to live that people
will pay much higher prices for housing.

I claimed that the cause was a Vancouver housing shortage. That was, and
is even more now, a valid claim. Watch this recent video:

https://www.youtube.com/watch?v=wD5ejnj2miw

Recent Redfin estimates for similar condos in Alan's neighborhood are
valued at about $1,000/sq ft, making Alan's humble abode's value about $500,000. Assuming that's in $Canadian, about $US350,000. My home based
on recent comparables is valued at about $US490,000 on Redfin, or about $US200/sq ft.

Of course the 2 properties are quite different. A 2618 W 15th Avenue
2600 sq ft, 4 bedroom, 2.5 bath, single family house at in Alan's neighborhood shows a Redfin value of $C3,000,000 or about $US2,100,000. Fixer-uppers in different neighborhoods can be found for less.

If Vancouver incomes were higher than Carmel that would help at least
make higher home values affordable. Median Vancouver household income is about $C82,000 or $US57,400.

https://globalnews.ca/news/10401449/vancouver-full-blown-crisis-housing- affordability-report/

https://www.point2homes.com/CA/Demographics/BC/Vancouver- Demographics.html#:~:text=Median%20household%20income%20%2482%2C000%20,tax%20household%20income%20%2472%2C000

For Carmel? $US130,000. Housing here is a heck of a lot more affordable
than Vancouver BC.

https://www.city-data.com/income/income-Carmel-Indiana.html

Bottom line? No wonder 67 year old not-retired Alan Baker
still lives in the tiny, very expensive, condo he moved into in Fall
1994, 30 years ago. Very unlikely he can afford much of an upgrade.

Are you still whining, Liarboy?

And I'm not 67.

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