With Europe dominating the headlines, investors appear to be paying little attention to a housing bubble in Canada.Prices for homes there—particularly in Vancouver—have been skyrocketing, as the developed market least affected by the financial crisis becomes overloaded by foreign cash.
To convince us of just how big a bubble might be developing there, pseudonymous hedge fund manager @Pawelmorski referred us to CrackShackorMansion.com, which asks visitors if they can tell the difference between Vancouver mansions that sold for more than $1 million and crack shacks.
We thought the distinction would be obvious. We were wrong.
Note: We have not verified the sales of these properties nor their involvement in drug dealing.