Real estate in Montreal is strikingly affordable given the build quality and location. I'm not sure I'll every quite understand it relative to residential real estate in New York or Austin.
It's insane that for a paltry $400k USD in Montreal you can buy a luxury 2br condo.
Although, with all the talks of interest rates... does Canada have a similar policy for mortgages where there is not true concept of a "fixed rate" mortgage for a term longer than five years? I was stunned to learn that in New Zealand mortgages aren't backed by the gov in most cases so mortgage rates are assessed every 3-5 years - which is insane.