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05-25-2013, 10:14 AM
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Country: Canada
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Some of this has been covered but it comes down to a few things:

1 - Land is crazy cheap out there.
2 - Labour is also very cheap.
3 - Cost of houses is cheaper because a) they don't have to build basements, and b) they don't need as much insulation as we do in Canada.

Most importantly, their economy has gone to the *******. A lot of people unemployed means they weren't able to pay for their mortgages and either had to sell their house or the banks foreclosed them. So if there are a ton of people trying to sell their houses, and not enough people willing to buy them, you'll get very low prices.

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