Vancouver Real Estate Bubble Burst

Vancouver real estate market

Category:

News & Politics

Tags:

• Vancouver
• Real
• Estate
• Bubble
• Burst

[Shapperson]

Move up market? So how do you sell your 2 bedroom when you owe more than its worth, make your money to move into something bigger and more expensive? Shills. Vancouver is going bust, long overdue and all the bullshit spit out by the pumpers will have no effect whatsoever.

[exsentrik6969]

hahahaha

these bulshit new stories make me laff



[TheLarryching]

@snguyenn Hell no ! #1 too much home ownership-it's better to rent than buy situation. #2 buying for investment rather than shelter #3 low interest rates #4 bad lending practices- like in America where the federal lowered the easy credits to bank to make loans . The overvalue of what it is worth is not even good for the economy people putting extra knots to there belt to pay there mortgage. The fact that our government is not regulating oversea investment from Asia is just unbelievable, sooner

[snguyenn]

real estate in vancouver is going to keep increasing. believe me by 2020 - 2050 overall its going to be double! vancovuer is a hot hot market. i consider it the "WEST COAST LUXURY" great community government and weather. #1 city in the world. Vancouver houses sell in less than a month with a over a dozen buyers interested. People from china and hong kong with money. A condo in those countries is 1million by so its relatively cheap for them here.

[mookixox]

@JordyBrisbin Well considering how long it took the American housing bubble to burst I would say anyone who purchsed a house 5-6 years prior to the collapse lost everything. So those people who bought a house at reasonable prices 7-8 years (or before) ago will be fine. But anyone after is just picking at pennies in front of a steam roller.

[landongendur]

It's completely true that it's all relative at the end of the day. If house prices go up and increase a person's equity, it just makes the nicer 'move-up' homes that much more expensive too.

Who really loses in a downturn market are short term buyers with high-financed properties.

[bigtim50]

The Vancouver housing market's hype is a product of self interest groups pushing their agenda to preserve their livelihood in real estate. The high prices on housing and it's demands are based on our economy and foreign investments. I suspect both will dry up soon due to world dynamics and when that happens there will be massive selling in the housing real estate industry. (Oct.8th, 2010).

[justmks]

3 successive years of price drops. How did that prediction pan out?

[JordyBrisbin]

All forecasts appear to be wrong. Ask 3 economists what is going to happen, and you will get half a dozen or more forecasts.

For 8 years people have been saying that homes are overpriced, and that we are in a bubble, and those people not buying have really missed the boat.