Browse Stacks: Business: Real Price of Vancouver, Calgary & Toronto SFDs

Real Price of Vancouver, Calgary & Toronto SFDs

NEW CHART shows the average price comparison of Vancouver, Toronto & Calgary SFDs denominated in CAD and USD along with notations of significant changes in the spot price of WTI crude oil and the currency spread.  

In November 2014 the CAD USD spread continued to widen and an average priced single family detached house in the hot metros of Vancouver, Calgary and Toronto are now 12% cheaper if purchased in USD as opposed to CAD. At the March 2009 Pit of Gloom, prices were 21% cheaper in USD. 

Clearly the run-a-way train that was housing price inflation was on the rails of energy price inflation that was set on course after the relatively benign two year period of 2001 and 2002 when the spot price of crude traded in a US$10 range between 20 and 30 bucks.  

The ensuing commodity price spike blew out first in oil and housing in 2007-08 with the propellant of a low CAD exhausting itself at par at the 2008 peak. 

Going into the March 2009 crash the FX spread widened to 21% cheaper Canadian housing in USD an

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