Blog: Should we Be Fearful or Be Greedy in today's Vancouver real estate market?

Blog by Tina Mak

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Should we Be Fearful or Be Greedy in today's Vancouver real estate market?

Should we Be Fearful or Be Greedy in today's Vancouver real estate market?

There is no doubt that Vancouver is officially in Buyer's market.
Do you need to worry? Well, I dare not tell you not to but here are the facts:

1) BC's unemployment rate drops. According to data released by Statistics Canada,
employment increased 2.3%, above the national growth rate of 1% regardless the ups
& downs on the figures from month to month.

2) Positive economic indicators with 2.8% growth for 2013-2015.

3) Consumer confidence soars in B.C. National index increased 6.7 points to
82.2 but the biggest spike was in B.C., where the index jumped 24.7 points to
110.8, indicating B.C. consumers are the most confident in more than a year.

The new mortgage rule has successfully cooled down our housing market by
taken away many first time home buyers who needs longer amortization.
Prices really can't keep going up without some ups & downs. If you are a
long term investors, you know the real estate investment still gives you
the best return. Many economists forecast housing value drops a lot more
than the actual situation due to most sellers don't have to sell unless there are needs.
Therefore, the average price hasn't dropped significantly. Same old saying,
you can't time the peak nor the bottom.

Here's my favorite Warren Buffet's famous quote: