Wednesday, February 25, 2009

Expert Predicts Vancouver Market To Deflate at 19% Per Year.

Brian Ripley, CEO of Oakes, Ripley and Assoc., appeared today on the Business News Network (BNN) today as part of a new series on BNN called the 'New Real Estate Reality'.

You can view the segment by clicking here.

Ripley predicted the Vancouver Real Estate market would proceed to deflate at a rate of 19% per year in the near future.

Among the data presented were charts showing how far Vancouver prices still had to drop.

Charts are presented showing how prices have climbed the last few years and what level of income is required by potential buyers to support those prices

(The average Vancouver household income is $55,000. These charts demonstrate just how unaffordable the Vancouver market is to it's residents).

And a chart showing how Vancouver rates more unaffordable than even the uber-expensive city of London, England.

Ripley's Canadian Housing Price Chart's website can be found by clicking here.


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