Real Estate Prices in Van

Briefly saw something about the housing costs in Van. Said something about the prices are settling. Can anyone confirm the info?

yes

Yeah :rolleyes:

Instead of 20% gains we're only looking at 7-10% for this year.

Most pricing has cooled, there are still some hot areas, but in general it has calmed, will probably pick up again next year though

…will probably pick up again next year though

First of all, I don't think so…

… secondly, I hope not.

Unfortunately Vancouver is a special case due to the Olympics but I just don't see how Canada's economy (and as a result its real estate prices) won't be affected by the brewing US recessession predicted for the coming years.

The media loves to predict good times lasting forever which is partly perpetuating this irrational buying frenzy.

Here is a wikipedia entry that makes sense of it all:
http://en.wikipedia.org/wiki/United_States_housing_bubble

Read the whole thing. It's a good read!

Pedro

First of all, I don't think so…

… secondly, I hope not.

Unfortunately Vancouver is a special case due to the Olympics but I just don't see how Canada's economy (and as a result its real estate prices) won't be affected by the brewing US recessession predicted for the coming years.

The media loves to predict good times lasting forever which is partly perpetuating this irrational buying frenzy.

Here is a wikipedia entry that makes sense of it all:
http://en.wikipedia.org/wiki/United_States_housing_bubble

Read the whole thing. It's a good read!

Pedro

I know nothing of the real estate market, I was just posting to add to my count, since you have wikipedia as proof, I will just bow out of this thread

First of all, I don't think so…

… secondly, I hope not.

Unfortunately Vancouver is a special case due to the Olympics but I just don't see how Canada's economy (and as a result its real estate prices) won't be affected by the brewing US recessession predicted for the coming years.

The media loves to predict good times lasting forever which is partly perpetuating this irrational buying frenzy.

Here is a wikipedia entry that makes sense of it all:
http://en.wikipedia.org/wiki/United_States_housing_bubble

Read the whole thing. It's a good read!

Pedro

The article was in the Globe and Mail. The part I saw said somethinmg about the bottom following out of the market.

Damm it, didn't get a chance to read it.

I know nothing of the real estate market, I was just posting to add to my count, since you have wikipedia as proof, I will just bow out of this thread

Did you read it?

It has many references to economical know-it-alls…

Pedro

i hope so, would like to see a crash in value, but i really doubt that will happen.

Did you read it?

It has many references to economical know-it-alls…

Pedro

As I mentioned didn't have a chance to read it. Besides would have posted anyways to get more info because we all know how truthful and accurate Canadian media is.

As I mentioned didn't have a chance to read it. Besides would have posted anyways to get more info because we all know how truthful and accurate Canadian media is.

I was responding to Gooch…

… unless you guys are the same person.

The entry is with reference to the US and may not exactly be applied to Vancouver but it raises many interesting points regarding how the media, speculators and a healthy economy influences house prices.

The entry indicates that the good times are over (in the US at least) and at this point there doesn't seem to be any back up that will stop the US from sliding into recession.

Pedro

imo you will be seeing a greater regionalization of the canadian home market, namely with it continuing to grow in alberta, due to all of the current economic development going on in that area. i think bc may slow down but not necessarily get into the negative. and well the maritimes(aka. the have not provinces) will eventually see a decrease due to lack of demand, and the fact that growth in these provinces is absolutly no where near what it is in the rest of canada, couple that with the fact that there is a huge outflow of trained labor going to ontario and the western provinces.

It's true.

This now only costs $14million, instead of the $22mil last year:

I was responding to Gooch…

… unless you guys are the same person.

The entry is with reference to the US and may not exactly be applied to Vancouver but it raises many interesting points regarding how the media, speculators and a healthy economy influences house prices.

The entry indicates that the good times are over (in the US at least) and at this point there doesn't seem to be any back up that will stop the US from sliding into recession.

Pedro

My mistake.

I was responding to Gooch…

… unless you guys are the same person.

The entry is with reference to the US and may not exactly be applied to Vancouver but it raises many interesting points regarding how the media, speculators and a healthy economy influences house prices.

The entry indicates that the good times are over (in the US at least) and at this point there doesn't seem to be any back up that will stop the US from sliding into recession.

Pedro

Vancouver housing market is remaining strong because of: immigration, migration, rental prices, and an affordable second home "world market"

The US bubble, will cause economic effects to us, but don't hold your breath on the Vancouver market reacting anywhere near those levels