Jesse put together a nice clear presentation on our housing market.
His argument is that the factors that set house prices are different for the long term than they are for the short term.
If short term factors drive up supply and pull demand forward, what happens in the future to balance this out?
With housing affordability in Vancouver hitting an all time low and sales scrapping along under 100 a day It sure looks like Months of Inventory is starting to flash a big warning sign for current buyers.