The higher the price, the harder it gets:
Sotheby’s, the luxury real estate brokerage, via BIV.com, January 9, 2019, reports that:
Resale transactions on Vancouver homes over $1 million fell by 26 per cent in 2018, with the slowdown more heavily weighted toward the second half of the year, said the brokerage. This was the third consecutive year of a decline in “top-tier” home sales over $1 million.
Global warming and rising seas are increasing the amount of tidal flooding on the Atlantic and Gulf Coasts.
Flood levels are different from city to city, but the trends are similar.
See the complete New York Times September 3, 2016 Info Graphic in my Attention Snow Birds post.
One57 sells for $100,000,000
and... how to adorn a Unicorn
But as the Georgia Straight pointed out on May 6, 2015 on the subject of the most expensive housing in Canada:
The Spear's & WealthInsight list of cities with the highest percentage of millionaires. Toronto is ranked 15th with 3.3% of its population having assets apart from prime residence, of more than US$ 1,000,000. Spears July 2014
A ranking like this is important, said WealthInsight Analyst Oliver Williams, "...because wealthy individuals, more than any other group, will change their home and even their domicile based on factors of ready access to wealth managers and private banks as well as political stability and heritage. Owning a piece of history in a city such as London is an aspiration for many, particularly wealthy individuals from overseas..."
History, Charts & Curated Readings
"History, real solemn history, I cannot be interested in.... I read it a little as a duty; but it tells me nothing that does not either vex or weary me. The quarrels of popes and kings, with wars and pestilences in every page; the men all so good for nothing, and hardly any women at all - it is very tiresome." Jane Austen spoken by Catherine Morland in 'Northanger Abbey'
"Progress, far from consisting in change, depends on retentiveness. When change is absolute there remains no being to improve and no direction is set for possible improvement; and when experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it." George Santayana Vol. I, Reason in Common Sense