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In Vancouver, property pays better than stocks or bonds

But its "liveable" qualities are also making it unaffordable as soaring demand makes rise in home prices seemingly unstoppable

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The Vancouver situation shows just how difficult it is for policymakers to control runaway prices. Despite a string of measures, including a 15 per cent tax on foreign buyers, the price of the typical detached house surged to a record C$1.6 million in July.

Vancouver

IN the spring of 2012, Dustan Woodhouse, then a 40-year-old Vancouver mortgage broker, broke the cardinal rule of saving for retirement: he liquidated his retirement fund, took the tax hit and ploughed the rest into the local real estate market.

sentifi.com

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