Vancouver is one of the biggest real estate bubbles in North America. The average condo in BC costs 30-50% more than the average condo in Toronto, while Toronto wages are easily 30% more. Most of all despite interest rates currently still decreasing, give it 12 -18 months once the market stablizes and inflation becomes an issue again and the govt hikes rates. There will a tonne of people selling their condos as the their mortgage payments spike.

Right now the average condo in Vancouver requires a 50% downpayment in order for you to have a positive carry over 15 years. That is insane. When you get a positive carry for 30% down than its probably worth considering to buy. However, that would suggest that prices need to decrease 25-35% which I think is not out of the picture. I know a lot of people are waiting for a drop and looking to pounce on the market to get in. However, even if you are able to get in at a lower price, the market won't run back up to its previously levels probably for 5-6 years.

Don't get me wrong I think real estate investment in Vancouver can be very profitable, but the spike we have had in the last 5 years has been overdone. One thing that we won't see probably for a couple of decades is a situation where interest rates are low, along with low housing prices. We had this condition in the late 90's and early 2000's mainly because the US govt kept rates low and Canada followed suit to continue strong economic growth and look what it led too. Luckily our banks were more conservative and weren't dishing out $500K mortgages on zero down.

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If you need too sell, be smart and take any realistic offer!

If you do not have to sell, it doesn't matter. Live and let live.

Yes like today, Vancouver is an amazing place to live, but, affordibility will make it more amazing, the real estate free for all is over,think and look long term! Your home is going to be your home and not an atm machine.

Nice to see ridiculous incomes unsubstantiated,beautiful girls taking orders in pre-sale centers making stupid incomes. Where is that money coming from? GONE NOW

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" Empty condos or empty condo buildings rented cheap by desperate owners(banks?)and used for Grow-ops and meth labs " ?

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Executive summary: BC is toast. Gordo bet BC’s economic future on continued high consumer spending and perpetually rising RE prices, and has rolled snake eyes"

I was thinking the same thing. We have also had another bubble in bc no one has talking about. BC bud. I know crime goes up during recessions but i think it will be petty crime and violent crime once these marijuana pimps start feeling the squeeze they will have to start eliminating their competition.

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I love how they have flipped fear. Fear was one of their essential components in creating this bubble. Now that fear is against them, it's time to ignore it. Remember the "buy now or be priced out forever" mantra?

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From wikipedia, I disagree with some of them and they don't mention luxury goods but since "luxury" is a bit vague I guess it would just be more confusing than clarifying to mention it in such a brief list. During the depression the very high end luxury stuff did very well, partly because the very wealthy wanted to ignore the droves of poor people so they hung out in exclusive clubs/stores etc.

# Medical Services / Health care

# Pharmaceuticals

# Necessities: food/grocery stores/chains

# Cosmetics

# Education

# Entertainment

# Home & vehicle repair & maintenance

# Debt collection

# Tax preparation / simplification (cf: tax avoidance)

# Career/Job search/Life coaching

# Energy

* Electric

* Oil

* Gas

# Security/Alarm services companies

# Weapons industry

# Insurance

# Funeral homes

# Air Conditioning/Heating

# Plastics

# Emergency Services (Police, Firefighter, Paramedic)

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That says it all. Oh well, he's probably going to be unemployed soon.

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Aside from that, it's more the usual myths. I did like the bit where he says "experts have been so wrong about the economy", and then follows this up by saying "experts say we won't be affected like th US"…

It's "pick your own expert day", apparently.

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http://tinyurl.com/5tygfh

There is no modern-era precedent to these economic conditions, so fear is a natural reaction. Remember the fear surrounding the dawn of the new millennium, 2000? What happened? Nothing.

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The Christmas season is "make or break" for a lot of businesses even in good times.

Prediction : The shit will hit the fan right after the New Year…ho ho ho? OH OH OH !!!!

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