Nothing new in high house prices
January 31st, 2012What's changed?
This is not a new story. I was born in Vancouver. But in the days of double-digit-interest mortgage rates in 1982 I couldn't afford to live there.
So when I was 23, we bought our first home, a townhouse in Surrey, for $53,000. ...
People view properties advertised for sale in the window of a real estate agency in 2009. Low borrowing costs for banks are translating into falling mortgage rates. (Stephen Hird/Reuters)

