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Are We At The Top Of The Market? Vancouver Real Estate.
We have yet another top caller in the Vancouver Real Estate market. The US based ratings agency Fitch, just came out with a report saying that Vancouver Real Estate Market has been driven by strong local and foreign demand as well as low interest rates. No Kidding! tell me something else I don’t know. They are calling for the Vancouver market to eventually correct saying this kind of price appreciation is unsustainable in the long term. And people pay these guys for this kind of insight!

Calling for Vancouver prices to eventually fall is like predicting we’re going to have rain this Spring. It also reminds me of the old Wall St saying about top callers.  Top callers are never wrong… they’re just early!  Also in this blog …I talk about when is a good time to consider selling a principal residence or investment unit? Hint it’s certainly not because a company like Fitch says were headed for a correction.

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OWEN BIGLAND
MACDONALD REALTY
Direct Ph: 604.889.1118
http://owenbigland.com

VANCOUVER BC HOMES & CONDOS
GREATER VANCOUVER BC REAL ESTATE FOR SALE

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Are We At The Top Of The Market? Vancouver Real Estate. #buy #RealEstate in #Canada

And his master saw that the Lord was with him and that the Lord made all he did to prosper in his hand. – Genesis 39:3

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Comments

  • Get a 30 or 40 year graph of Vancouver Real Estate and/or 100 yr Stock Market graphs. It will always continue to go up – with short term fluctuations. Let go of listening to all the noise and dramatic stories of how things will crash. Just do it right and hold it tight.
    Thoughts on this blog? Let me know…

  • How many years after WWII? How many years since whole globe is joinning together as one big economy circle? Cannot judge from past experience, suprise will always caught you.

  • Hey Owen, just want to get your opinion on Apartments vs condos. I see but dont understand why condos are considerably more expensive. Example my brother bought new condo 26 floor 450k; my sister same building 4th floor 370k exact same day. Another example is i see a 2 bedroom apartment for 318k near commercial broadway 23 yrs old 900 sqf.

    I would of thought apartments would be about the same price or even more then condos since they are generally bigger. Also you would have a bigger share of the land as apartments have less units. Would you say 4-5 stories high apartments is a better investment then 40-50 story condos?

  • Respect the poor. If people who make your coffee and bag your groceries have to commute 2 hours to work for minimum wage, will likely end in many businesses will not be able to afford to hire employees, Jimmy Patison talked about this a few months ago. I think I saw Downtown Vancouver is loosing 1 of 2 gas stations now. What about all the empty houses and apartments in Vancouver? Local wages are responsible for healthy increase in house prices. I don't know anyone making the average Canadian wage of $50k per year who buys a home and leaves it empty. Many peoples jobs are about to be replaced by a machine, WAGES pay for houses, not mortgage debt. We are in serious trouble even the Banks are speaking out. Affordability is such a issue that people will elect a government who will put a stop to insane prices. Legislation is a serious threat.

  • Hi Owen, my husband and I are a big fan of your videos. We currently have two investment condos downtown and our primary residence. Would you recommend when it comes time to re-mortgage the investment properties to use the equity to buy another investment property? Or would you recommend letting them just pay down themselves and not cashing out equity. Would love to hear your lots.

  • Like always, numbers don't lie. Great video!

  • You keep saying Finch. FYI, it's Fitch

  • Mortgage debt is good debt, tell that to someone when interest rates rise. For an investors, using leverage is always risky to some degree. The low interest rates have emboldened people who merely look at their current monthly payments for what they can afford. To be clear, any debt is a risk for both companies and individuals.

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