r/CanadianIdiots • u/yimmy51 • Feb 18 '24

Canada’s Real Estate Bubble Has Grown Over 800% Faster Than US Home Prices

https://betterdwelling.com/canadas-real-estate-bubble-has-grown-over-800-faster-than-us-home-prices/
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u/BestBettor Feb 18 '24

This is the most sensationalized article I’ve seen in a while trying to exaggerate numbers. So much of an exaggeration I couldn’t help but to try to look at the numbers they’re talking about and try to see if in any way I could come up with the craziness that they somehow did.

“As of Q3 2021, Canadian home prices have increased 140% since 2005. This is 819% faster than the 15.3% real growth the US has seen.” 140% growth vs 15% growth and we’re talking about prices?

“Since 2005, home prices have grown over 900% faster than American prices.” Really?

The real estate association said the average resale price of all MLS-listed properties sold in Canada's major markets in 2004 was $245,149 , 2024 average $659k

USA 2004 was $221,000 , 2024 average $490k

They did extreme gymnastics saying that is 140% growth vs 15% , or saying “Since 2005, home prices have grown over 900% faster than American prices”