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Real Estate Professional | 30 Apr 2015, 07:28 AM Agree 0
Affordability continues to weaken in Vancouver… Real estate “off its peak” says Concorde boss… Non-permanent residents important to the housing market…
  • Smiles4u | 30 Apr 2015, 10:45 AM Agree 0
    Affordability, unfortunately, will remain elusive. What politicians and economists hail as successes and advancement are the very contributors that remove affordability from the masses. Big Picture success is measured by the total wealth of nations, or province, or municipality. When GDP is hailed, it does not include those who go hungry. And those who've never been hungry believes truly believe "it's their fault". So long as GDP looks glorious, it does not matter that 95% of any nation's or province's or municipality's wealth remains in the hands of 5%. And the remaining 95% of us, to varying extent, walk over each other for a share of the 5% remaining wealth.

    What does this have to do with real estate? Real estate is not the only culprit, but it is a key culprit. Think! Agents are deliberately stoking the affordability fire to incite bidding wars and driving prices up. Many agents sells their "negiotiation" skills to sellers but instead offer auctions (bidding). Negotiation is a skill set, very unlike bidding. Many agents incite "investments" in real estate - every residential home purchased by an investor removes that home from the housing stock intended for real home shoppers.

    All to say, housing affordability is history!
  • Haze | 30 Apr 2015, 11:19 AM Agree 0
    Yes, it is ALL the agents. Agents control the market like a gate keeper. Give your head a shake.

    Those agents you speak of that are selling skills to sellers are many times also dealing with agents who are working with buyers... The buyers agents are negotiating as best they can in a market that is not controlled by anyone in particular and definitely not by agents who have to buy and sell in the same markets as everyone else.
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