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WAN
Stranger
Registered: 10/20/14
Posts: 1,895
Last seen: 7 years, 7 months
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Is it likely that the Vancouver housing market will experience a 30% down?
#22193604 - 09/05/15 05:06 PM (8 years, 4 months ago) |
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I have heard so many people say that the Vancouver housing market will go down 30%. I have been thinking about buying a condo but haven't, partially because of this rumor.
Personally, I think it's unlikely that the housing market here will go down significantly, for two reasons: 1. Once I saw an ad on a bus, it was from the government. They were estimating that by 2020, there would be 1 million jobs here in the Lower Mainland. All these people are going to need a place to stay. If there is even a small correction in housing prices, you bet they are going to go for it. 2nd reason? Canada has always had a very high level of immigrants. I don't expect this to slow down. Our government has been steadily letting people into our country, and I believe they are going to keep doing it. Again, a surplus of people who are going to need housing.
What are your thoughts?
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Is it likely that the Vancouver housing market will experience a 30% down? [Re: WAN]
#22193917 - 09/05/15 06:22 PM (8 years, 4 months ago) |
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Maybe you should buy some Chinese stocks instead, their economy is growing at 7% a year and the future looks bright indeed. Use plenty of margin so you can maximize your profits. Don't bother placing stops, Asia and their economies are always growing so you don't want to miss out in case it drops another 50% before making the turn back up.
-------------------- Anxiety is what you make it.
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saenchai
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Registered: 10/05/14
Posts: 238
Last seen: 7 years, 1 month
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Re: Is it likely that the Vancouver housing market will experience a 30% down? [Re: LunarEclipse]
#22200031 - 09/06/15 11:11 PM (8 years, 4 months ago) |
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Yes a severe correction is likely. It could still be a good idea to buy depending on what you want out of it. It could be a good idea to wait first and get in at a way lower price. It depends what you want out of it. I am not an expert on real estate, not qualified by any professional standard to give advice on this. This trend seems kinda obvious in some ways because that market is in a bubble and this is the time when different bubbles will pop. So it may not be a good time to buy. That's just my opinion.
Edited by saenchai (09/06/15 11:15 PM)
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