Another Housing Bubble?

[7/8]

The housing prices in my area (Waterloo Region) are increasing at a ridiculous pace. This article says that housing prices in Waterloo Region have increased by 40-50% since last year! Housing prices all around the Greater Golden Horseshoe seem to be rising. It seems like most houses around here sell within 2-3 days at around $50k above asking price. I've heard that Vancouver's prices are rising quickly too.

Are the housing prices in your area going up? And do you think we're heading towards another housing bubble? I just hope I can afford a house when I'm ready to.

[DaBigE]

The housing prices in my area (Waterloo Region) are increasing at a ridiculous pace. This article says that housing prices in Waterloo Region have increased by 40-50% since last year! Housing prices all around the Greater Golden Horseshoe seem to be rising. It seems like most houses around here sell within 2-3 days at around $50k above asking price. I've heard that Vancouver's prices are rising quickly too.

Are the housing prices in your area going up? And do you think we're heading towards another housing bubble? I just hope I can afford a house when I'm ready to.

Yes, they're artificially high around here too, but that's because lately demand is exceeding supply. Rental vacancy is also very low, creating a landlord's market = lose/lose situation for my wife and I.

[Max Rockatansky]

I see it heading towards another bubble and another bursting all over again.  Basically a lot of the cities were there was a huge spike in prices have seen another influx of the same thing happening in the last 2-3 years.  It actually was a huge reason I decided to leave the Phoenix area because it really was making the place really not really affordable anymore, my brother left this year for Boise after being there since 1993.  Even where I'm at now I'm seeing houses that would have gone for 150-180k a year or two back going for 220-260k.  I'm in position to purchase a home but I'm really not interested until another crash/mini-crash happens to level the market out.  If condos were a bigger deal where I'm at presently I would probably be looking at one instead since they tend to be way more stable price wise.