Thank you - observing that most people posting on social media are too young and have never been through a severe recession. What’s coming especially in Canada is going to be very difficult. Anyone thinking there will be a rebound and greener pastures await are delusional. Prepare yourself now - talk to someone older and who was working during the 90s (someone over 50).
Many people are on the sidelines right now. When it starts it might be too late for many, then FOMO kicks in. IMO now might be the right time. Rates going down, prices are on their way back up.
Price going back up ? I doubt it. The fundamental issue is not even about the interest rate. It’s that people just don’t make that much in Vancouver. I’m sure some do, but most people don’t. There will probably be heavier hammering on the investment properties down the road, to kind of force the investors sell off their homes. I already have a few friends who just swallowed it, and sold their places at a slight loss right now. Those who are holding onto multiple will just end up losing more.
Always the PERFECT time to buy. I for one can’t wait to buy a $750k 403 sqft condo.
Thank you - observing that most people posting on social media are too young and have never been through a severe recession. What’s coming especially in Canada is going to be very difficult. Anyone thinking there will be a rebound and greener pastures await are delusional. Prepare yourself now - talk to someone older and who was working during the 90s (someone over 50).
i hope the developers all CHOKE ON IT. BUILDING FOR FOREIGN BUYERS AND INVESTMENT PROPERTY. NOT BUILING HOMES, SO CHOKE ON IT.
Vancouver and Canada Real Estate market game is over. For the next 10yrs you get hardly 3 to 5 % returns.
They need to just bring in wealthy people to buy.
Many people are on the sidelines right now. When it starts it might be too late for many, then FOMO kicks in. IMO now might be the right time. Rates going down, prices are on their way back up.
Price going back up ? I doubt it. The fundamental issue is not even about the interest rate. It’s that people just don’t make that much in Vancouver. I’m sure some do, but most people don’t. There will probably be heavier hammering on the investment properties down the road, to kind of force the investors sell off their homes. I already have a few friends who just swallowed it, and sold their places at a slight loss right now. Those who are holding onto multiple will just end up losing more.
Would never invest in canadian real estate.
A project in Abbotsford pre sale sold out fast. Vancouver is too overpriced now
@olegrealestate *struggling
Thank you! Fixed:)