Monday, September 24, 2012

It isn't mortgage rules bringing down real estate. Vancouver is simply overpriced.



Cam-car realtor Ian Watt comes out and says that it's more than mortgage rules that are bringing down prices in Vancouver Real Estate... Vancouver is over priced - simple as that.

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4 comments:

  1. macSeptember 25, 2012 at 9:05 AM

    Oh my God! Wasn't this guy saying the complete opposite like 18 months ago? That prices won't collapse. And that he's not selling! Fer f'ks sake. Can you IMAGINE being his client in 2009/10?

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  2. macSeptember 25, 2012 at 9:11 AM

    You can see the wheels turning in his head as he thinks what's best to say. Condos just 10% overpriced now aye? Then he flips over to FTBs not being able to buy SFHs because he doesn't want to scare away any potential condo buyer by saying the 598K condo he's trying to flog them might not even be worth the extra 98K hanging off the end of his price tag. God this guy annoys me.

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  3. Manfred SteynSeptember 26, 2012 at 11:21 AM

    This is merely a stealthy attempt at planting the seed among the naive that prices will only drop 10%. The price decline has already surpassed that figure and continues to accelerate downwards.
    He mentions the all-important price-rent ratio, yet doesn't continue on its logical path, a path which suggests that we're at the beginning of a 40-50% price decline.

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