MARKET CYCLES ARE A PART OF LIFE, AND WE WILL BE HIGHER 10 YEARS FROM NOW. It’s a hard truth that we must confront. But not to create fear and a sense of helplessness – but to inspire you to take action and do something about it. Canada’s GDP fell 38.7% in Q2 of 2020, and yet both Toronto and Vancouver’s real estate markets have rebounded after the pause. December 23, 2020. “Am I Buying This Home To Use It, Or For Anticipated Price Growth?”. admin - Aprile 27, 2020. He is really talking the banks fear. There are buying opportunities for condos forming as buyers choose detached single-family houses due to more space requirements. Unfortunately, this is the cruel world we live in. 3103 Kingsway #209, Vancouver, BC V5R 5J9,  Canada. The various private sector forecasts are clearly pumping up the market, while a public servant named Evan Siddall, who happens to be holding the bag for billions in insured mortgages, tells it like it is. Mobile: (778) 900-2235 Platinum. All is well? Hmm, sign up for my on demand book series and get 45 chapters from the best real estate gurus and action takers in British Columbia from the last 40 years. ( Log Out /  A Vancouver Housing Crash Could Bring Sorrow And Opportunity Business Banks Didn't Expect Vancouver Housing To Fall As Much As It Has As long as sales slow then lower valuations don’t get booked. Even more now that the pandemic is wreaking its socioeconomic havoc. Email: [email protected] I won’t provide the link here because I don’t want to end up in moderation purgatory, but you can find this headline over at the Financial Post: THE UNINTENDED CONSEQUENCES OF DOUBLING THE MINIMUM DOWN PAYMENT ON HOUSES — HAIDER-MORANIS REPORT, Raising the bar for a minimum down payment will exacerbate the fall of housing prices rather than arrest it. in Vancouver city alone housing prices and home values continue to make headlines worldwide. Excellently articulated, as per usual Burnabonian. By holding off on selling, homeowners can do one thing for the market. We expect more to come next year. Apartment for sale. Vancouver RE Prices – Where is the Support? Housing Market Crash 2021: The housing reports are comprehensive assessments and predictions of US Housing markets drawing insight from NAR, CAR, Corelogic, Wall Street Journal, Freddie Mac, tradingeconomics, statista, and more industry sources. Stressed small ... real rental vacancy rate in Vancouver is much higher than the 1.1% that Canada Mortgage and Housing Corp. estimated at the start of 2020. The trademarks MLS®, Multiple Listing Service® identify professional services rendered by REALTOR® members. Feel free to join the “Metro Vancouver Housing Collapse” Facebook group and share in the information/discussions along with 8,980 others since 11/11/17. Last month’s sales were 9.4 per cent above the 10-year July sales average. Now for the Vancouver Housing Report for December, 2020: I won’t bore you with the details you already know. Conferences. Demand continues to be robust for properties across Canada and you can see above just how Toronto, Ottawa, Calgary, Montreal are all performing positively and very well in 2019. The average house price for a detached home was $1,415,400 and condo apartments reached $651,500. I don’t make the rules. Look up Knight Frank Global house price index for each country. Erroneous Causation Theories For Falling Prices, 06 Whispers from the Village on the Edge of the Rainforest, 11 condohype [retired; archives available], Mortgage Squeeze Anecdotes – “Two days ago my mortgage holder called and told me that, after 22 years, they would not renew my mortgage.”, Pre-Existing Disease – COVID Economic Stress Uncovers Longstanding Vulnerability in Vancouver RE Market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,687 in October 2020, a 29 per cent increase from the 2,858 sales recorded in October 2019, and a 1.2 per cent increase from the 3,643 homes sold in September 2020. These real estate statistics are paired with rankings of all cities in the Greater Vancouver area based on home sold price, price growth, days on market, and turnover. News publications like Macleans, The Economist, The Georgia Straight, The Vancouver Sun, throughout all previous historical crisis, have pumped out sensational negative news with headlines such as “Housing Market Crash!, “Canada Housing Market Collapse” and “BC Housing Bubble To Burst“. “Buy and hold; don’t sell your investments during a declining market!” (Because if you all did, it might cause contagion and we couldn’t get our own money out at a profit)… ‘course they’ve been right for the last 10 years, but will they continue to be now, or will a better entry point be found way below current values? Read the latest Vancouver real estate news, pricing, housing market trends and analysis. Home Lifestyle Vancouver real estate: rumored mansion observed by Prince Harry, Meghan Markle sold... Lifestyle; Vancouver real estate: rumored mansion observed by Prince Harry, Meghan Markle sold for $ 27 million. You will receive a link to create a new password via email. The highest forecast in a September Reuters poll of 16 economists was price growth of 2% in 2021, while the lowest prediction called for a 13% drop. 3861 Willow St, Vancouver, BC V5Z 3R1. I was surprised. That eventually means that your money is diluted by five times, unless of course, you have a hard asset that is desirable, and people want to flock to it. Here is what you don’t already know about the Vancouver real estate market in . Vancouver, BC About Blog The latest updates from Vancouver and Richmond, BC real estate markets. 1 of 1 2 of 1. Real estate prices in areas nearby also have increased significantly. Well, I suppose there is an infinite number of solutions to navigating a portfolio in a never before seen low-interest environment. ( Log Out /  Here is a quick snap. Home sales in the vancouver housing market continue to defy the benchmark price nearly in every city. Facebook. You don’t really have to take my word for it, I mean just look at the graph below: Time and time again had you just bought during each dip, you would have thrived, and today is no difference, because as long as the world keeps printing money, the more it will circulate back to desirable assets – ie. Disaster strikes the banking sector. The book series will give you guidance on how to navigate these uncertain times, whether you are a seller or a buyer: Think of this book series as a Chicken Soup for the Soul, but for real estate in the Lower Mainland, British Columbia. Grab it here. The UBS Global Real Estate Bubble Index 2020 shows that house price growth globally has accelerated this year. … Who would have thunk that straight talk about the housing market would come from the CMHC, and NOBODY else? The province will see this trend continue through 2021, when there will be a 17.6% increase to 96,860 units. The CMHC/Siddall position headlined in the next post. Credit must be tightened further. Real estate roundup: Vancouver, BC housing market overview Point2 gives you far more than a simple list of houses for sale. What you can do? ... more so in Toronto and Vancouver. Most people think real estate is a low risk and high return investment however many experts disagree. Listen to current podcasts with today’s leading experts and hosts Adam and Matt Scalena. PropTech. PropTech. Please enter your username or email address. C$1,898,800. – vreaa. Since June, the real estate market in Canada and parts of the US is in a dramatic turnaround. Average prices in other vancouver area markets like North Vancouver and West Vancouver continue to also experience the same price growth. Short-term rentals have taken a hit due to travel restrictions. home prices skyrocket by 20%: This summer 2020 is the summer of astonishment. Skype | Whatsapp | But on the banks ledger it means they will be forced to set aside much higher loan loss provisions as the market grinds down and appraisals come in lower and lower. A maverick real estate analyst who predicted Metro Vancouver’s housing crash a year ago says the current slump will stretch out for another four years. We all know how that part works. What is the worst-case scenario for Vancouver Real Estate as a result of COVID-19 (Coronavirus) in 2020 and 2021? Despite a modest 1% growth in average home price projected for 2020, Vancouver still sits comfortably at the top of the podium as Canada’s most unaffordable city. Real Estate ‘Low interest rates won’t save housing’ in 2020: Moody’s Vancouver, Calgary will take worst hit, but analyst predicts a sales rebound by June The writers of the Haider-Moronic Report, meanwhile, would have you believe that the CMHC’s mandate is to support house prices, even if that means feeding more youngsters into the wood chipper in order to provide mulch for the lawns of those who went before them. Vancouver’s SF sales roared in at 57% and the Valley an astounding 71%. Real Estate in Heavenly BC!ACT TODAY! INVESTMENT STRATEGIES TO MAKE YOU WEALTHY IN THE DOWN VANCOUVER MARKET. Vancouver real estate agent David Hutchinson is still showing properties during the pandemic, but he's had to make adjustments. Vancouver real estate crash videos and latest news articles; GlobalNews.ca your source for the latest news on Vancouver real estate crash . VANCOUVER — A report from the B.C. Metro Vancouver Real Estate Sales are down only 6.5% compared to last year May 2018, but down about 44% compared to May 2016. – excerpt from ‘Homeowners avoiding distressed selling key to Canadian housing market recovery: TD Economics’, Carlito Pablo, 1 May 2020, Georgia Straight, No, folks, that ‘analysis’ is not from ‘The Onion’. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. This isn’t the first time he’s opined that government should not be pursuing the goal of ever-wider home ownership. Vancouver real estate: Home sales fall, but stay higher than a year ago Change made to insurance for B.C. Their view is not atypical in the industry. Condo for sale. Check out the latest US stats, and discover when you should buy or sell. Senator Lives In (don’t laugh) $500K Home, Jessica Barrett – ‘I Left Vancouver Because Vancouver Left Me’ – “Like Living On An Abandoned Film Set.”, “I’ve thought since early 2010 that Vancouver housing was in a bubble, and have refused to buy a house for this reason. Will Vancouver Real Estate Prices Drop in 2020? So I mean, that is the big question mark. “You know your real estate is in bad shape when there is a game app that displays Vancouver’s Science World and teaches you how to be a money hungry real estate developer.”, “It’s sinking in that Vancouver is sinking” – “Westside prices have fallen 17% from 2016 & 11% this year; sales volumes down by 80%; 3 years worth of >$3 Million inventory”, The Carrion Have The Carcass – “I’ve lived in Vancouver since 1968; my wife was born here; we are about to leave; this town has priced us out. Now that I have summed up all of the previous coverage, we are ready to jump into real data that your news source won’t tell you. 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