"Hurt" will be the ones who even if the prices half, they still have trouble coming up with a decent amount of down payment. Let say average house value looses a 1/3 of the value tomorrow, the prices is still in the range before Olympics. The wage / job situation has to change, don't expect a hipster barista can be able carry a mortgage by their own. It is great for hedge funds and REITs but no so much of a "typical" Vancouverite.
The market has moderated a bit the last few months. Also the biggest increase are the places where land use / zoning had changed (Cambie, East Van).. if you look at anywhere west of Arbutus, the prices haven't changed much the last few years.
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Originally Posted by Mr.C
So Canada has the highest ratio of price:rent.
When the bottom falls out of these expensive properties, it's gonna hurt bad.
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