The Metro Vancouver Real Estate Thread

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At the expense of tens of thousands of families who suddenly become underwater on their loan and will probably spend much less locally on the economy? A crash (50% cut) is a recipe for disaster for the Canadian economy. You want more austerity measures, budget crunching and lost jobs, bring it on.

My place is worth more than double the mortgage I have on it and a crash would suit me just fine as I could finally pursue the housing upgrade I've been eyeing. But I still wouldn't wish it. A steep correction in the tune of 20%? Yeah, we could use that here.

FWIW I think any major slump would be effectively absorbed by foreign investment keen on cheap deals. This isn't a worthless market, I don't think with the geopolitical location of the city and the climate the prices would remain depressed for long at all. If it crashes here it takes out the rest of the Canadian real estate with it, because people won't pay more to live elsewhere in this country. JMO.