A) Your article attributes the
retail spending slowdown to falling car/gas sales and lack of labour; real estate is mentioned a grand total of once:
Quote:
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Meanwhile, B.C.’s resale housing market appears to have finally turned the corner following the early-year shock of federal mortgage stress test measures and drag from higher interest rates. While still down 25 per cent year-over-year, Multiple Listing Service (MLS) sales rose two per cent from July to 6,370 units. With a second straight monthly gain, the drag of resale transactions on economic growth has ended.
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In other words, the housing market is also doing okay, despite the price drop. Realtors have been compensating for ebbs and flows since the beginning of time, now shouldn't be any different. And again, lower housing prices mean that sectors like film and tech startups - previously mentioned to have been chased away lack of cheap real estate - can now grow too.
B) Depends on what numbers you're looking at - the amount of non-resident condo purchases has risen to
16% on average in recent years.
The empty homes map and many of the
controversial presale flips line up with PRC-dominant neighbourhoods. I think we can agree that Mainland speculation is, at the very least, part of the problem.