Indeed... and clearly I'm not alone as one glance at the weekend papers indicate enlightenment isn't just occurring in local cafe's.
"boom of sky-high prices for Vancouver west-side houses – one that provoked media around the world to claim with scant proof that mainland Chinese investors were buying up the city – is fizzling out."
“We’re now seeing a 50% collapse rate in deals, when it’s usually more like 5%.”
“Banks are now requiring borrowers to disclose incomes and assets before mortgages are approved, as of the last six weeks.”
“I always thought that market was not sustainable. Every local person was juiced out of the market. The average household income on the west side doesn’t support those prices.”
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