With the exception of SFH homes in Vancouver, recent years haven’t been kind to real estate investors in BC.
Vancouver condo prices have been pretty much flat for years with miserable cap rates. Victoria has been sinking, the interior is deep underwater since the market peak and Whistler condo HPI is down more than 40%.
But cheer up! At least one economist says the worst is behind us!
“For all the horror stories out there surrounding Canadian residential real estate, the sector is actually holding in very well,” chief economist David Rosenberg of Gluskin Sheff + Associates said today.
“Note that the worst in British Columbia may be behind us as starts there shot up to 31,000 units from 23,000 in May to stand at the best level in a year,” he added.
Sounds like another one for the bottom call thread!