EVERYONE should buy a home as soon as they are able to. Long term, the property value goes up, the mortgage gets paid off and the gain is tax free. For most people, the paid off value of their home is most if not all of their retirement security (and ultimately their estate, to leave to the kids). For the vast majority of people, their after-tax income is used up… Read More »Quick Tips: Should I buy or rent my home?
Real Estate Prices
Those are the $64,000 questions which occupy the top of the charts these days. For the past 10 years foreign money has poured in to Canada, particularly Vancouver and the Lower Mainland destabilizing real estate prices and uncoupling them from local incomes. Both the BC and federal governments turned a blind eye to this phenomenon for the better part of the decade and in fact, encouraged it as “foreign investment.”… Read More »Why are Metro Vancouver housing prices falling? When will this trend end?
“Foreign capital accounted for only 2.92% of Metro Vancouver real estate sales over 11 months” was the recent headline in the Georgia Straight earlier this month. As the perennial classic book by Darrell Huff points out, there are many ways to deceive with statistics, including how they are presented. These foreign capital statistics are misleading, as they relate only to the period between January and November of 2018 – about 7 months… Read More »[Vancouver Real Estate]: How to lie with Statistics
Happy New Year! The big question is what is going happen this year in the housing market. Will prices continue to slide? Or will the market pick up? Will housing crash completely? Despite all the opinions, no one can reliably predict that market. We will just have to wait and see. Last December sales and the number of new listings continued to drop as Buyers continued to be inactive. Stay… Read More »Vancouver Real Estate: What Will Happen in 2019?