House Prices in Vancouver/Vancouver Island/BC overall

stick2Herbs

stick2Herbs

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Feb 13, 2010
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What do you super smart marketers think of the housing market in Vancouver, Vancouver Island, and British Columbia overall?

Are house prices going to continue to remain stable with small fluctuations like in some cities, small yearly drops of like 3-5%, or continue to go up like in Vancouver?

Its likes Jesus, errbody be panicing in the USA and foreclosures, houses for like 150k, but in Van City average house price is like 1.1M. Aint nobody tell me no middle class family be able to live in house like that.

So what do you guys think is going to happen to the housing market in BC. More specifically Vancouver/Vancouver Island?
 


global real estate crash coming to a city near you. starting in hong kong. 2008 was a preview.
 
Vancouver / surrounding metropolitan areas = going up though said to be a "long term bubble" (immigration [chinese], in demand area, world class city)

Vancouver Island = slowly going up (retiring baby boomers / great place for families)

Rest of B.C. = depends what's driving the economy in the said area
 
If I sent you pictures of my house and then a picture of the BC Assessment notice (what the government thinks its worth - to calculate property taxes), you guys just would not believe it.

Here is a link to what houses are worth in my neighourhood.
Property Search
 
Im in a condo that shakes when the wind blows.....yet it is worth easily over 500k.

The market on the island is not going down dramatically any time soon. People are desperate to live out here, and there are a shit ton of reasons why.
 
why do you guys think it will crash? supply vs demand.

maybe some areas will slump, but downtown van city...pretty safe bet. sweet city, lots of business and growth, major port for shipping, really well managed, chinese love the place, lots of demand for renters...

agreed some of those shit homes for 1.1 mil is retarded, but i think some of the better downtown areas are decently priced.
 
you'd have to have down's syndrome to pay $800k for those junk houses just to live in a big city. i've been through vancouver 3 times on the way to whistler and have no desire to actually visit the place.
 
jenzkc said:
you'd have to have down's syndrome to pay $800k for those junk houses just to live in a big city. i've been through vancouver 3 times on the way to whistler and have no desire to actually visit the place.
Click to expand...

i dont think you went through the right places...on of the nicest cities in the world
 
I think the Vancouver real estate market is in for a minor correction, the current levels are unsustainable.

Although the flood of wealthy immigrants is certainly propping the market up a little bit.
 
Yeah, Those houses would go for like 20-30k here in Phoenix right now. Can get a nice built in the last 5 years 4 bedroom, 2 story, 2000sq foot house for like 150k that is only like 15 minutes from downtown but I guess that is how a lot of the US housing market is right now.
 
If you have the moola, real estate is where it's at right now. If the economy bumps up within the next few years, you can bank hard from buying cheap and selling for double/triple
 
Vancouver's problem is you can only grow in one direction.

You've got the mountains to the north, the Georgia straight to the west and the USA to the south, so that leaves you with east.

Most major cities can grow in at least 3 directions. Vancouver will automatically have less supply of land near downtown, and so an upward push on prices. This is why it's expensive now, and why it's not likely to see any major price drops anytime soon.
 
The real estate in Vancouver is definitely fucked, but when u look at the market activities theres actually a lot of people buying. Economic activities will probably keep the bubble going until investors feel like theres no longer any potentials left in this market. But when you have 400 units being sold out within a week..before it is even built? And it isnt even in downtown Vancouver. That should tell you something lol
 
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