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Vancouver Real Estate is a fickle thing.
There is so little supply out there it's crazy. Looking for a detached house around the $1-1.5M mark, good luck.
There just isn't enough supply out there. Plus, asian parents have the cash to spend. Let's be real, who is buying a detached house without their parents money? This combined with record low interest rates, I can't see the RE market taking a hit in the short term. Long term is a different story, but in the short term RE market is still gonna chug along.
The thing about housing is that everyone needs it. The kids in their 30's are out there looking right now, they're not looking for a quick flip, they're looking for something they can afford. They are looking for a home. If they can afford the payments, then they'll buy the house. There are so many kids in their 30's that need a home. On my last listing, there were 18 offers. Crazy.
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