All posts by VCI Admin

Slowdown to affect Real Estate Sales

We’re living in interesting time. Interest rates are super-low and going lower which should drive down the cost of a mortgage, but at the same time we have a very unusual economic slowdown across the board.

Some people even thing this could have an effect on the Vancouver real estate market:

” Interest-rate drops usually fuel housing sales, but this time they will be more than offset by the “unprecedented paralysis of economic and social activity” during the COVID-19 pandemic, causing B.C. homes sales to drop this spring, the B.C. Real Estate Association predicted March 17.”

“All four scenarios predicted home sales in the province would drop in the spring and early summer. The market would then likely rebound in the second half of the year “contingent on the outbreak resolving.” However, only one of the scenarios found that home sales in the province would recover to a point of activity higher than if there had been no pandemic, with the other three forecasting a more muted recovery”

read the full article here.

Friday Free-for-all! February 21st, 2020

It’s the end of another work week and the start of another open topic discussion thread!

Here are a few recent links to kick off the chat:

Vancouver 6th worst bubble risk in world
Million dollar homes in central Okanagon
Political mortgage stress tests
Making it easier to get a mortgage
Housing crisis reckoning

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have a fantastic weekend!