After the 2014-2018 house price growth before world events and gov. taxes and regulations combined, the sales numbers have hit a three decade low
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 sales drop and the prices fall contrast with good times in Toronto despite the Mortgage Stress Test applies across the country.
There are cities all over the world experiencing massive infusions of foreign capital that have transformed their real estate markets.
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 and mortgage stress tests.
There was a dramatic drop of detached home sales in February all through Metro Vancouver and the rise of taxes in Metro Area.
Affordable home ownership or rental accommodation is unavailable to most of the local younger population, even those with stable professions.