House Hunter Watchers--Anyone else astounded?

It's really what's going on in many cities. I think an average house price here in BC, in Vancouver, touches $500,000 and probably more. I do know I checked prices in North Vancouver recently and the cheapest house there was $535,000. Small lot, older house, but North Van is definitely on the high end of the scale for prices. Condos, of course, can be less. I've also checked all over BC on behalf of a friend and can tell you that there is probably no house in the entire province selling for less than $100,000 and the cheap ones are in places way off in the sticks. I'm not sure how all these young people afford it either but my guesses include two-income no kids couples both earning good salaries(if two people are each pulling down $100,00 a year and more, they have a lot of extra money), people who inherited money or are getting financial help from parents, and people who saved real hard for a big down payment.

Mind you, conditions vary so much that we can all be astonished at what goes on elsewhere. When I've been in the US, and this includes 10 years ago a well as lately, I've been staggered by how cheaply you can buy a house in many places. Houses sell for what you'd pay in Vancouver for a parking spot. I could buy a house in many parts of the US on my credit card. There aren't many in Canada like that. And then I see questions here from college students who are buying houses. I have trouble comprehending that any student whose father isn't Warren Buffett is able to buy a house. I struggled to buy one in my late twenties.

I watch this show all the time and cannot believe how inexpensive some of the homes are in the States compared to the Toronto area. I live an hour or so away from Toronto, and the prices here average $200000-$250000 for your basic three bedroom 1400 sq ft home in the suburbs..cheap compared to Toronto, crazy compared to some other places. I always wonder what these young couples do for a living too, but I still like to watch just to look at different homes around North America.

You have to look at the areas these people are buying in. Some of the 'latest' shows I've seen are in the Washington D.C. Area, Toronto, Seattle, L.A., etc. These are the MOST expensive real estate markets. House prices are exorbitant.

I'm right there with you..... I cannot imagine how folks can afford such prices for homes.... worse, I don't understand how a bank gives loans for them when none of us are making the kind of money that can pay for them!!... even on two incomes, a 250k house is kinda knuts..... now the bankers and wall st folks, maybe... but I'm surrounded by plain folks and even they are in these over priced shacks!!.... and they all have new cars, too!... sheesh.... and here I am, in my 80k, nearly paid off home and happy as spit to be here.....

I don't watch that show anymore.... got to shaking my head too much... gave me a headache.... *smile*....