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Soft landing a pipe dream as home sales rise nearly 40%

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Real Estate Professional | 16 Apr 2015, 11:41 AM Agree 0
A total of 9,101 residential unit sales were recorded in Vancouver in March, up 37.6 per cent year-over-year, according to new figures.
  • | 16 Apr 2015, 12:33 PM Agree 0
    Busy Real Estate Agent who Actually closes lots of deals.

    I am curious what the author meant buy no soft landing. This is great news and these doom and gloom "Economists" and others writing articles on real estate activities have certainly been silenced. The truth is that the market in major centers in Canada Toronto and Vancouver continue to have demand. The west coast market seems to a bit more volatile than Toronto, but the demand is there.

    People always ask me if we are in a bubble, I can't speak for the west coast, but for Toronto the answer is no. We have seen steady demand and price increases over the last almost 20 years. If that's not a solid market, the idea doesn't exist.
  • Karen Tereck | 16 Apr 2015, 12:49 PM Agree 0
    Rumour has that it is not Canadian consumers supporting the bc real estate market but the chinese are the vast majority of buyers
  • Dan | 16 Apr 2015, 02:02 PM Agree 0
    So real estate doesn't go in cycles any more and Vancouver will just keep rising in to perpetuity??? Hmmm
  • Chris | 16 Apr 2015, 02:22 PM Agree 0
    This situation is not sustainable. Incomes have no where near kept up with real estate increases and other costs of living. Debt loads reach ever higher. Hellooo? How is this supposed to support itself? Those same doomsayers are similar to those who kept telling the Wall Street barons that something wasn't right...years before 2008. Canada is not immune to corrections/ crashes/ change....call it what you will. At some point in the intermediate future I imagine a correction of some kind will come. Too many things feel maxed out. And a lacklustre Canadian economy producing precious few new jobs sure ain't helping.
  • Peter L. | 16 Apr 2015, 07:24 PM Agree 0
    Regarding housing, the difference is an equation between value and inflation. What stops any bubble from forming compared to the US is the higher Canadian equity investment in residential property compared to the US leveraged, tax deductible mortgage. The safety valve is the perceived Canadian conservative values of property as an investment and a form of savings shelter that can be sold, if required, in our old age. Replacement cost and demand round out the balance to safeguard the housing market in larger Canadian cities. The stable Canadian image in the world helps the overall Canadian market. It may not be perfect, but there is no other place I would rather be. Peter L.
  • mink | 16 Apr 2015, 07:34 PM Agree 0
    The Vancouver market is not just a supported by Mainland Chinese buyers, but the locals, the Americans and etc..
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