Quote:
Originally Posted by hillmar
I think not for awhile.... Alot of foreign investments, a few big projects (oil and mining). As long as there are high salary jobs and the opportunity to make it, real estate shouldn't move much in my opinion. I know there are huge demands for labour up northern BC, so much that they've started recruiting nation wide. If your willing to tough it out, there is money to be made. You could save enough for a decent place after being up there for a few years.
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High salaries? We have, on average, very low salaries
Affordability is at an all time low
Market was propped up by cheap money and general horniness
Cheap money is leaving, horniness turns to hatred very quickly
Anyone who bought with less than 20% down in the last 3 years is going to have negative equity in the coming years