Vancouver Real Estate
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Uploader Comments (djrevxo)
All Comments (8)
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greed? Nah, it's cheap credit...mostly coming up from the US. 0% interest by Federal Reserve has been a suicidal policy for 10 years now. Thats why the US real estate entered a bubble then collapsed, just like US education loans have entered a bubble and are also on the verge of collapse. But more pressing is the US dollar is in a historical bubble (due to Fed Reserve monetizing of debt by printing money to buy US treasuries) and is also on the verge of collapse. Interests in Canada will go up!
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It's not just greedy developers. It's greed + speculation + hope= Disaster.
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Hey I'm from vancouver too and I -- like you -- make decent money but could never afford a million dolalr home in east van where I grew up. :(
I believe that these prices in vancouver cannot sustain themselves and a crash is imminent. Canada is not an island, and is vulnerable to the same problems as the US and European Economies. I've heard that tehre is a cycle in real estate that has been pretty consistant for the last 60 years. 2012-13 should be bottom, and thats when I'll try to buy...
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Well, your timing is a bit off but market will crash. Of course the industry is going to hype this as long as they can. When this market crashes in late 2010 I will not shed one drop of tears. I see a drop of 40% after 2010 very likely. I really want to see this happen.
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Boy where you wrong. The prices are still going up.
I truly hope the prices do cool down but it may be long ways away!
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do you think it's better to wait till after the olympics to buy a home?
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So went down and then up with an interest rate cycle and here we are. Low interest rates and slow sales with an increasing supply. I think the writing is on the wall increase in interest rate will equal price declines and level affordability.
djrevxo 1 year ago
Short answer yes but it really depends on your situation and what your expectations are.
djrevxo 2 years ago