Brenda Kinnear Time flies over us, but leaves its shadow behind. – Nathaniel Hawthorne Every time there is a slowdown in the market and people lose on their investments there are loud promises made about never doing it again. No more short term gains with long term pain attached. Unfortunately the optimistic side of human […]
Every time there is a slowdown in the market and people lose on their investments there are loud promises made about never doing it again.
We are indeed seeing the other side of the euphoric house price increases of 2014-2018 before world events and government taxes and regulations combined to end the party.
Sales were down in February 2019 over the sales of February 2018 but they were up over late 2018 and January 2019.
Vancouver has always been an outlier in almost every area including real estate. Incredible highs have always been combined with alarming lows.
December: a month of lights; snow and feasts; time to make amends and tie loose ends; finish off what you started and hope your wishes come true.
In Vancouver, the drop in sales numbers and a slight rollback in prices contrast with good times in Toronto despite the fact that the Mortgage Stress Test is a federal regulation and applies across the country.
There are cities all over the world experiencing massive infusions of foreign capital that have transformed their real estate markets and the cost of living for locals but Vancouver is the poster child for Chinese investment in real estate over the past decade.
We are all adjusting our sails in this volatile real estate market. Even adjusting the sails can’t help when the wind dies.
There are changes and drama everywhere that will impact how the rest of the world views a safe haven in Vancouver.
Change on every front in Canada and around the world is in the air and the uncertainty is creating a lack of confidence in financial future.
Affordability is one issue, the dearth of any kind of rental housing in the Lower Mainland, particularly in Vancouver is a huge social problem.
The big issue is affordability and availability of housing, for either rental or purchase. This is a problem throughout Metro Vancouver.
It appears that the well-being of residents of BC has been compromised by an economy built around organized crime and money laundering.
There is turmoil in the air around us and is playing out in politics, trade agreements, carbon tax, pipeline protests, mortgage stress tests and real estate sales. At this time prices have risen not declined but affordability is still the unresolved conundrum of these times.