Quote:
Originally Posted by JDMDreams
I'm just curious do you guys realistically think prices will keep going up? Detached in East Van hit 3 million? In like next 10 15 years? I don't see Vancouver being a global hub like HK, NY to support it.
|
Who knows how high it will go. We're almost at 2M for a Vancouver special in original condition on a standard lot, and that seemed unfathomable a few years ago. But on a global level, interest rates are driving people to borrow and invest in assets, driving the price of assets up and this should continue until interest rates go significantly up (something I can't see in the short term). Vancouver is a global hub in its own right. And as long as it's desirable (due to our climate, lack of government regulations/intervention, relaxed laid back reputation, beauty, etc), money from around the world will continue to arrive unless it is stopped (which is also something I can't see happening).