Thursday, January 3, 2013

U.S. GDP per capita is significantly higher, why are house prices lower?

Global MetroMonitor Interactive Graph from the Brookings Institute

A chart of "real GDP per capita and employment change for the largest 300 metropolitan economies"
As a little thought experiment, do a cross-border comparison of GDP per capita between the U.S. and Canada. Seattle: 65k, Vancouver: 41k. Or more startling Toronto: 43k, Buffalo: 58k.
Where in the world is the wealth generation supposedly coming from to justify double the house price in Canada?

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