I just sold this Apartment/Condo at 2202 388 DRAKE STREET, Vancouver West, BC Yaletown.
View this recently sold Apartment/Condo or see all my home sales
For every 100 basis point hike (1%) in borrowing rates, home prices would need to come down a corresponding 10% to match affordability. Do I think Vancouver home prices are headed for that type of correction? So far condo prices have barely been touched and affordability is at an all time low. The main reasons is inventory which remains ultra low as sellers are holding firm for now.
Some Saturday motivation on the traits that all successful people possess. The positive outlook you must possess, and how most are optimizing all facets of their life.
Former US president Ronald Regan once famously said "Government is not the answer to the problem. Government is the problem." In my opinion this is certainly true when it comes to the BC NDP, and to some extent the Federal Liberals and the myriad of taxes and restrictions they continue to introduce to try and make homes and rents more affordable. Is it working? Trying to make homes more affordable by curbing demand via taxes is never a good idea. Instead we should be working the supply side and building more homes to meet the demand.
Seeing some cracks starting to form in the newly completed luxury condo market in Downtown Vancouver. Unlike the tangible market, in some of these newly completed strata there are plenty of listings and competition and prices are in a slow but steady decent. The successful sellers are getting the proper council from their Realtors on pricing, comparables and the current status of this market. Many sellers however are not, and their units are racking up major days on market as the prices continue to soften.