Quote:
Originally Posted by cornholio
I am watching intently and I am starting to get the feeling the market is starting to run out of steam. Sales last month hit all time records in (Greater Vancouver, Fraser Valley and Sunshine Coast). Listings are starting to rapidly pick up. The sales numbers cant hold. In fact every extra sale last month in theory is one less sale the next month, or what ever month it carries over to. I have been wrong up to now, and to be fair I think most people have been but paying very close attention I think the tide is starting to turn right now. The next couple months will tell. Either way the damage has been done to this region and I don't think the ending can possibly be a happy one no matter what happens. All possible long term outcomes at this point are bad.
Anyways tomorrow we will have the next interest rate and monetary policy announcement by the bank of Canada. It may signify the end of rate cuts and a hint at rises later this year to match the US. That would mean the beginning of the end of record low interest rates and possibly the start of some de-speculation in the market. But who knows. The whole market is scary irrational right now.
Curious if there will be any surprises tomorrow.
|
According to Newsweek there are about 4 million millionaires in China, second only to the USA. However, unlike rich Americans, many rich Chinese seem to feel their country is an unstable shithole, best vacated as soon as possible. So if we've only imported about 50,000 of them, there's a long way it could run up if there's no government action.
Basically, if you're thinking of raising a family in Vancouver and aren't well up on the property ladder, best move now, before the locusts reach another Canadian market. All those young tech workers that are happy to share an apartment now will tire of it in a few years, wise up and leave the city.
Threaded Mode