Quote:
Originally Posted by buhdeh
Man that is dire. I guess I’ll re-think my move back to Vancouver... carrying such a big mortgage for a 40-50 y/o Van special + a huge cut in earnings potential might be too much of a sacrifice.
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Definitely take a look at the market before making any plans... the restrictions on open houses are lifted so go take a look if you are able to and connect with a realtor that you trust to get a good idea of the lay of the land before making any decisions. Each segment of the market moves differently, and from what I've noticed over the last year, condo prices are relatively flat while detached under 1.5M is up 5-15% in the last year.
(I'm not a realtor but here are my reference points: Selling my Olympic village condo in June 2019, my mom selling a house in East Van in May 2019 (in hindsight, a total mistake but it was to free up cash to help my sister (who also wanted to move), studying the market daily for 9-12 months, to finally buying a house in June 2020.)