Squamish Housing Prices

While driving through Squamish today we saw a few for-sale signs.
We took one sheet from a realtor listing box at one house.
And then almost died.
Almost a million dollars.
Only a three bedroom home in Garibaldi Highlands.

I'm very curious what has driven prices there to such stratospheric levels.
Especially since 3 or 4 years ago when people wondered if Squampton would ever be a place where real estate appreciates.

When does it bust?
Does it ever?

What is driving this?

.. And don't give me the usual Chinese investor BS. because they only have 2 Chinese restaurants in Squamish and one of them is actually Japanese Sushi.

Lower Mainland got too expensive so people started buying up here like crazy, greedy realtors rode the train to the station. My neighbour just sold his house for $1.15 million in Brackendale.

It's still off shore buyers but indirectly. People that cash out buy somewhere else. Pretty simple. It spreads, that's what happens.

Squamish is the new North Shore.

It's still offshore buyers but indirectly. People that cash out buy somewhere else. Pretty simple. It spreads, that's what happens.

I don't believe that. Perhaps for West Van and Westside, UBC, Spanish Banks etc.

And as for the stats, well they don't have any reliable ones.
We know someone that knows someone that is an "Asian Investor" because he is Chinese and bought a home in Vancouver.

Ahem. but he has been a Canadian Citizen for 20+ years. So has his wife, also a Chinese Canadian citizen.

The whole Asian Investors thing is overdone and ripe with racism.

If I had foreign money and my realtor took me to Squampton, I would fire them and throw hot wok oil on them as they walked out the door.

We really don't need two real estate price threads going.

We really don't need two real estate price threads going.

Wait till you see the mls listings for the sunshine coast.

^^^ sounds to me like the lawyers are to blame, not the foreign investors

.. And don't give me the usual Chinese investor BS. because they only have 2 Chinese restaurants in Squamish and one of them is actually Japanese Sushi.

It's the foreign buyers' overall impact that is causing rising prices throughout BC, regardless if they are the ones actually buying in a specific area. Foreign buyers are A) buying places from "Canadians" and those people they are taking the $$ from the sale of their house in Vancouver and moving somewhere slightly cheaper (i.e. Squamish) or B) people who would have otherwise bought in Vancouver but have been priced out (due to foreign buyers) are now looking to places like Squamish, Victoria, SSC, Kelowna, etc, thus driving the prices up in those places.

Foreign buyers have basically come in and taken out the whole top end of the Vancouver market, and that has caused rippling effects across the entire province.

^^^ sounds to me like the lawyers are to blame, not the foreign investors

it's the electorate who are to blame as ultimately the buck stops with us. when voters fail to educate themselves and investigate their representatives and their policies it is us who has allowed this to happen. those who stand to gain count on the mass ingorance of the people to work in their benefit. this is not a recent phenomenom happening under the reigns of Christy Clark, this had been going on for a long time, we were just caught up in the hysteria and greed when it was working in our favour. like reductimat has said a number of times, we've had the "canada is for sale" sign out on the front lawn for a while. i think in part it is a fear of being labeled not nice that has skewed our perception about what's best for the people who are here and allowed these things to happen.

While driving through Squamish today we saw a few for-sale signs.
We took one sheet from a realtor listing box at one house.
And then almost died.
Almost a million dollars.
Only a three bedroom home in Garibaldi Highlands.

I'm very curious what has driven prices there to such stratospheric levels.
Especially since 3 or 4 years ago when people wondered if Squampton would ever be a place where real estate appreciates.

When does it bust?
Does it ever?

What is driving this?

.. And don't give me the usual Chinese investor BS. because they only have 2 Chinese restaurants in Squamish and one of them is actually Japanese Sushi.

I don't believe that. Perhaps for West Van and Westside, UBC, Spanish Banks etc.

And as for the stats, well they don't have any reliable ones.
We know someone that knows someone that is an "Asian Investor" because he is Chinese and bought a home in Vancouver.

Ahem. but he has been a Canadian Citizen for 20+ years. So has his wife, also a Chinese Canadian citizen.

The whole Asian Investors thing is overdone and ripe with racism.

If I had foreign money and my realtor took me to Squampton, I would fire them and throw hot wok oil on them as they walked out the door.

Not to bag on you, but between this and the OneUp thread, you seem to be a little bit out of touch with the plight of the average Canadian these days.

But Facebook has government ads that say our provincial government has helped make BC's economy the best in the country, and that real estate development is a big part of that.

Do you people want to weaken our economy and be the cause of a lot of lost jobs? Or should they embrace the cost of living in the BEST PLACE ON EARTH.

my parents sold their place in Brackendale for $440K or so in 05 , the place beside their old house is a A frame design and was nothing special and it was listed for $1.3 or so from what my Dad told me recently

It's the foreign buyers' overall impact that is causing rising prices throughout BC, regardless if they are the ones actually buying in a specific area. Foreign buyers are A) buying places from "Canadians" and those people they are taking the $$ from the sale of their house in Vancouver and moving somewhere slightly cheaper (i.e. Squamish) or B) people who would have otherwise bought in Vancouver but have been priced out (due to foreign buyers) are now looking to places like Squamish, Victoria, SSC, Kelowna, etc, thus driving the prices up in those places.

Foreign buyers have basically come in and taken out the whole top end of the Vancouver market, and that has caused rippling effects across the entire province.

This. Obviously.