Of course this forecast from the BCREA comes after a stunning month of September wherein not one single new home sold on the west side of Vancouver.
This was followed up by the month of October in which the Real Estate Board of Greater Vancouver (REBGV) advised that sales for the month ranked as the the 2nd lowest in the past 10 years (click image to enlarge):
Soon we will add in a pinch of panic liquidations from debt stressed, China-based, Vancouver homeowners (see yesterday's post re: 'China's Residential Property Prices in Freefall')...
We will also mix in the first wave of Boomers whose retirement plans are wrapped solely around cashing in on the bubble-based equity of their real estate...
And suddenly you have a recipe for a perfect storm brewing.
What will tip the first domino.
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