[CanadianCapitalist]

Just wondering what some of you out there are wondering in regards to our RE market.

Personally...I think at best we can hope for a plateau in valuations....but probably a 'correction' is in the future.

Gov't is in a rough spot...I think they want to raise rates a bit to slow the RE market (definitely don't want a crash like the states), but increasing rates will slow the economic recovery...

Opinions?...

Real estate is very local. I live in Ottawa and I wouldn't even venture to guess which way prices will go. Prices dropped a bit late last year and early this year but reports indicate they are up again. Who knows what the future will bring? Your guess is as good as mine.

 

[CanadianCapitalist]

I too am looking for a place in Vancouver area and my wife and I also have a combined income over $100K although this will change next year when we have our first kid.

Even with a large downpayment (20%) on $300K I am very uncomfortable purchasing in this environment because interest rates WILL increase. Artificially low interest rates are keeping prices propped up when I was expecting a much larger drop in pricing.

Still looking for a good deal but who knows what will happen here.

It is hard to predict what RE markets will do. Prices can stay insane for a long time. Or prices may remain fairly stable allowing inflation to catch up. Or there could be sharp correction. It is hard to tell but by all accounts Vancouver has the priciest markets in Canada.