Quote:
Originally Posted by MelonBoy
That being said. I think the housing prices may stay relatively flat or dip a bit.. BUT the condo/apartment market is waaaay inflated. There is so much space to build more towers and townhousing. It hard to fathom that the prices will stay that high. Especially when there are hundreds of high density buildings being built up
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There are few places in Metro Vancouver that are building new detached homes. Boomers aren't downsizing in numbers previously anticipated, so there's a crunch in supply.
I used to think the same way about the condo market, but given what's happened over the last 2 years, I have stopped my faith in people's rationality. The market can remain irrational far longer than it should.