It depends on how long you wait and what you want.. if Cdn depreciates a bit more (say another 10-20%) and freehold real estate keeps appreciating 5-10% a year.. it will take less than decade for the property to appreciate by 2/3. (of course whether it continues the trend or not is another story). Don't hope opportunities that you had missed to repeat themselves, focus on the present and future instead.
The key difference from 70s - 80s is money flow much easier from 1 part of the world to another. So there are more buying power (as we are seeing now a lot of the money are decamping from emerging markets and moving back to US stock market). Even within Canada.. Most of my neighbors in Coal Harbour (relatively high end townhouses) are Albertans just get the townhouse as a holiday home for their extended family (like kids, grandkids etc), that's before the exwives and husbands etc to use when they are in town. I see a growth market for good personable and dependable house cleaning / sitting business. With the economy recovering, the divorce rates will return to normal, that really drives a lot of condo sales.
As I have said a few times already, if your had spent most of life in BC and your income can't support you buying a place locally.. then travel outside of BC to see the world a bit more and earn a bit more. Believe it or not, there are a ton of machine shop openings up and down the west coast (my friends and I call it from Boeing to Boeing because the demand stretches from Boeing Seattle to Boeing Long Beach), because Americans are really bad at simple trig and tolerance calculations. Living cost quite a bit lower than Vancouver, not to mention you get decent union wages and stock options, enough that I know there are quite a few retired Boeing machinists that retire in Vancouver West.
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Originally Posted by duc_evo_sp
Can say that I will be buying real estate when it corrects to 2/3rds of what it is today.
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