Vancouver On Top
It’s no secret. It’s nice living in a bustling city that’s conveniently nestled between the mountains and ocean. The year-round, mild weather, compliments of Vancouver Island, is not bad either. It’s so great, in fact, that it drives up the value of Vancouver’s real estate to rates that triple those of Winnipeg and double those of Toronto. According to Tsur Somerville, the director of UBC’s Centre for Urban Economics and Real Estate, “If you want Winnipeg-level house prices here, all you have to do is tear down the mountains and fill in the ocean.”
So if you own a home in Vancouver, pat yourself on the back. Unless a colossal sized demolition ball and concrete truck take over the city, you’ve got yourself quite the stable investment. And if you really want to reward yourself – say, to go on a vacation to Bora Bora, to renovate your kitchen, or even get rid of your debt – get a home equity loan.
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