I’ve got to admit that the recent sluggish housing market in Vancouver has started to get me a bit worried.. Its not really that bad yet, but we’ve definately lost the excitement of last year, where buyers would overbid asking prices by $150k with no subjects and leaky condos on the ground floor facing major streets would sell at the first open house.
With the winter blahs this market has been experiencing since the end of last summer, even yours truly (a faithful real estate cheerleader) has started to wonder: is there something to the bears argument? Do ‘fundamentals’ matter? Is ‘affordability’ really that big of a deal? I mean, here we are with a robust economy, super low interest rates and an almost world-class city and yet condo’s just aren’t selling like they used to.
And then it occurred to me: We’ve got a bunch of baby-boomers just a few years off from retirement, and who likes condo’s better than retirees? We just need a whole bunch of them to move here to boost our prices again. I think if we can reach out to old folks from across Canada and the world and convince them that Vancouver is the right spot to retire we can keep those prices chugging uphill.
Economically it just makes sense: An undesirable four bedroom home in a quiet neighborhood in most parts of Canada could be traded nearly straight across for a convenient 420 square foot condo in a vibrant and active downtown east-side Vancouver neighborhood with easy access to ‘medication’ and ‘massage’ services.
All we’ve got to do is convince them that Florida and Arizona are totally lame, and this is where they want to spend their time:
Just think of the therapeutic effect of all that cold damp air on tired joints! Spread the word: Vancouver is a retirement wonderland!