Real Estate In The Lower Mainland Is Creating Both Economic Joy And Burden For Consumers

Real estate in the lower mainland is creating both economic joy and burden for consumers. Those who own homes are seeing their investments grow exponentially. Consumers looking for a place to live are saddled with the huge cost of purchase. Richmond has 3500 square foot penthouse condos selling for over 1.3 million dollars. That's over $370 per square foot. And still the market shows no signs of slowing, and prices keep rising. One of the problems facing places like Richmond are the limited land that they have to build on. When land is scarce the price rises. Richmond is a popular place to live because of a perceived low crime rate and family focused communities. The Richmond Review has the complete story.