canadian (especially vancouver) real estate

[gurjot]

is anyone else worried about vancouver real estate market?  seems like defying gravity!

 

thanks

[sswan11]

http://www.chpc.biz/2/post/2013/09/canada-overvalued.html

[ItsAValueTrap]

Yeah it's expensive.  But apparently Australia and Chinese coastal cities have even more overpriced real estate.

[Parsad]

I've been saying it's expensive for almost six years now, but that doesn't seem to mean anything.  There is still plenty of money flowing around, rates are relatively low and supply/demand pretty even.  I even sold my place in North Burnaby, which in turn I used to buy a much larger, nicer place in South Surrey.  I don't think you will see a correction until rates start to rise dramatically, and it doesn't seem like that is happening yet. 

 

You are getting small rises in rates, but that is only spurring on the market, as buyers reduce supply and get in at historically low mortgage rates.  While China money is slowing slightly, same with European money and U.S. money, you still have plenty of money coming in from the Praries.  The resource sector has been hit hard, so that might start to affect prices a bit, but still no real slowdown.  Cheers!