Median house price in 1970 vs. 2010
The median house price, or price that half of the houses sold more and half sold less than, was only $23,000 USD in both Canada and USA in 1970. This is quite remarkable especially compared with the median price of $184,000 USD in the USA and $306,000 USD in Canada. When including inflation the median price of $23,000 USD is worth about $130,000 USD in 2010 currency. This is still much less than the current prices in USA and a whole lot less than in Canada. This shouldn't come as too much of a surprise as real estate is getting more and more in demand, especially in Vancouver, Canada where the city just imposed an extra 15% tax on foreign home buyers to curb the demand, especially from buyers from Mainland China. Hopefully the house prices lower, or income levels rise, because not many people are going to be able to afford to buy a home anytime soon...
Source: http://www.mybudget360.com/40-years-of-housing-data-real-estate-values-in-gold-ounces-real-estate-expensive/
