Vancouver Real Estate prices have a long way to go. Down!
This article was guest authored by B.B.
Here is somewhat of a prediction:
I see real estate prices in greater Vancouver come down substantially
Today’s prices are just ridiculous. $500K for a 2 bedroom condo in White Rock or Port Moody? $500K for an old house in surrey? C’mon! People can not afford that.
In the downtown core i see prices falling back to 2003-04 level. A one bedroom, basic apartment should be $200K, and that’s still stretching it. A new university grad earning $60K would have a hard time paying for $200K condo.
So for all your buyers out there that is good news. Just wait and watch the prices fall, also you may get a “one of” good deal in situations where the seller is forced to sell.
Tags: Vancouver Real Estate