How would lower prices punish recent homeowners if they're not planning to sell in six months to cash out on investments. Even a fall of 30% or 40% will still mean their house is worth more than it was 3 or 4 years ago. If they're keeping their house for years, eventually prices will rise again.
Terry - 8 years ago
Even if it drops 50%, it'll still won't be affordable for most. As the housing bubble crashes so would go the low interest rates. I can recall double digits when housing was affordable.
Graeme - 8 years ago
How can prices drop if half of the respondents are sitting here waiting for things to come down? Seems to me that there are many trends at play here - generational demographics, prolonged low interest rates, international fiscal uncertainty, and tentative sellers artificially restricting supply being unwilling to wade into the feeding frenzy that characterizes the Canadian Housing markets.
Mother of 2 school-aged boys - 8 years ago
If owners using real estate as home market correction won't be crushing. Those who parked their money for short term investment will lose due to declining value. Property speculators beware. Housing crisis impacting everyone, not just millennials. We are renting: dual income, well-educated family!
Amanda - 8 years ago
For me not about letting people into our country. Those who come to live will also contribute to our economy. It's about stopping foreign investors from simply purchasing homes for the purpose of laundering money. These investors drive up the prices and contribute nothing to building our economy. How many single family homes are purchased and sit empty?? Too many. It has to stop. I don't believe that Canadians who scrimped and saved to purchase a home should suffer, although I know they will. However, how many of these homes were actually purchased by Canadians?? Or at least immigrants who live here?? I'm pretty sure not many. As it sits right now, I will never own a home, my brother will never own a home and our children will never own homes. The prices need to drop for average Canadians to be able to sustain the market.
Heisenberg - 8 years ago
Who has been in power and allowed this to happen?
Voting for Christy Clark means no one but foreigners who have laundered money will be left in Metro Vancouver, everyone who built and contributed to the area will be gone including doctors, police, teachers, nurses you know the people we rely on to make our communities? And for who? People from Mainland China defaulting on China bank loans? smuggling corrupt money to Metro Vancouver where they can out bid regular hardworking locals making 75k? How is that fair? Good riddance to Christy Clark and the BC Liberal scum that have ruined BC for generations! ????????????
May 2017 is the BC Provincial Election*
Al K - 8 years ago
Yes, let's punish all the hard working residents who squeaked by and purchased a home in the past five years. Serves them right for scrimping and saving and struggling hard to purchase a home for their families. Let's make sure they suffer for their hard work. They should have just given up like the rest of us. Why should anyone care about those people? Let's all pray for a huge crash so that banks will foreclose or not renew mortgages that become bigger than the value of property. It will be great for BC. A ton of residents will declare bankruptcy and that is great for the economy and jobs. Then all the "youth" will suddenly be able to afford these previously 1.4 million houses at 700k. Let's stick it to those who got in at the top. What could go wrong?
And yes, there is definitely too many people here. Let's close the borders. Who needs new people to add to the workforce and pay taxes to support government programs like healthcare and CPP anyway? This strategy has worked really well in history. Closing borders and keeping population at bay is a fantastic way to create a sustainable economy and nation.
Tanie - 8 years ago
I wonder how much the rental market statistics are skewed by the number of homes being used exclusively as short term rentals (AirBnB, etc).
simran - 8 years ago
As 66% of voters here are hoping that prices crash at least 50%. Liberals must take a decision for young Canadians , who are under a lot of stress due to this mayhem in markets, and let them buy their homes. Do something concrete and stop this speculative markets
Patricia pharaon - 8 years ago
Stop foreign investment, harder for average Canadian to afford a house.just look at Briton same thing has happens there.average Briton has been pushed out of market just like here.my kids will never own house because of this. Time for liberal gov't to have the balls to stop it. Time for gov't change. If you don't live here you cannot buy here. Simple as that. we don't need foreign investments in our real state.if they don't live here they aren't spending money here to keep economy going.or creating jobs.all they are doing is tying up space for our people. Should be like Thialands law or Cubas law. Foreign investment should be only in the buissness sector only.not real state. Our people here keep the real estate going just fine. Has been like that for 100 yrs. only since the olympics has foreigners bought up houses. And now where do you put the 305,000 people Truedea wants to bring in? Foolish fricken liberals both federally and provincial. They won't be voted in in next election because of too many people are all ready fed up with Canada's policy to bring in many people.our job markets here are mostly part time and in restaurants and low end jobs. Our middle class is vanishing quickly.no jobs in the fishing industry.forrestry,oil and gas minning for copper silver gold nickle ore etc. Why?? To many people. Wasn't like this from 1950s to 1990s. There was lots of jobs for middle class.the more people you bring in the more space they take up creates more pollution more strain on our healthcare environment farming roads sewers hydro water etc. We start creating a poorer nation because of to many people. Only bring in 2x as many that die or leave each year to sustain our living and country.
Daisy - 8 years ago
Prices should come down so a lot of purchasers can afford and jobs should increase
Daisy - 8 years ago
Prices should come down so a lot of purchasers can afford and jobs should increase
How would lower prices punish recent homeowners if they're not planning to sell in six months to cash out on investments. Even a fall of 30% or 40% will still mean their house is worth more than it was 3 or 4 years ago. If they're keeping their house for years, eventually prices will rise again.
Even if it drops 50%, it'll still won't be affordable for most. As the housing bubble crashes so would go the low interest rates. I can recall double digits when housing was affordable.
How can prices drop if half of the respondents are sitting here waiting for things to come down? Seems to me that there are many trends at play here - generational demographics, prolonged low interest rates, international fiscal uncertainty, and tentative sellers artificially restricting supply being unwilling to wade into the feeding frenzy that characterizes the Canadian Housing markets.
If owners using real estate as home market correction won't be crushing. Those who parked their money for short term investment will lose due to declining value. Property speculators beware. Housing crisis impacting everyone, not just millennials. We are renting: dual income, well-educated family!
For me not about letting people into our country. Those who come to live will also contribute to our economy. It's about stopping foreign investors from simply purchasing homes for the purpose of laundering money. These investors drive up the prices and contribute nothing to building our economy. How many single family homes are purchased and sit empty?? Too many. It has to stop. I don't believe that Canadians who scrimped and saved to purchase a home should suffer, although I know they will. However, how many of these homes were actually purchased by Canadians?? Or at least immigrants who live here?? I'm pretty sure not many. As it sits right now, I will never own a home, my brother will never own a home and our children will never own homes. The prices need to drop for average Canadians to be able to sustain the market.
Who has been in power and allowed this to happen?
Voting for Christy Clark means no one but foreigners who have laundered money will be left in Metro Vancouver, everyone who built and contributed to the area will be gone including doctors, police, teachers, nurses you know the people we rely on to make our communities? And for who? People from Mainland China defaulting on China bank loans? smuggling corrupt money to Metro Vancouver where they can out bid regular hardworking locals making 75k? How is that fair? Good riddance to Christy Clark and the BC Liberal scum that have ruined BC for generations! ????????????
May 2017 is the BC Provincial Election*
Yes, let's punish all the hard working residents who squeaked by and purchased a home in the past five years. Serves them right for scrimping and saving and struggling hard to purchase a home for their families. Let's make sure they suffer for their hard work. They should have just given up like the rest of us. Why should anyone care about those people? Let's all pray for a huge crash so that banks will foreclose or not renew mortgages that become bigger than the value of property. It will be great for BC. A ton of residents will declare bankruptcy and that is great for the economy and jobs. Then all the "youth" will suddenly be able to afford these previously 1.4 million houses at 700k. Let's stick it to those who got in at the top. What could go wrong?
And yes, there is definitely too many people here. Let's close the borders. Who needs new people to add to the workforce and pay taxes to support government programs like healthcare and CPP anyway? This strategy has worked really well in history. Closing borders and keeping population at bay is a fantastic way to create a sustainable economy and nation.
I wonder how much the rental market statistics are skewed by the number of homes being used exclusively as short term rentals (AirBnB, etc).
As 66% of voters here are hoping that prices crash at least 50%. Liberals must take a decision for young Canadians , who are under a lot of stress due to this mayhem in markets, and let them buy their homes. Do something concrete and stop this speculative markets
Stop foreign investment, harder for average Canadian to afford a house.just look at Briton same thing has happens there.average Briton has been pushed out of market just like here.my kids will never own house because of this. Time for liberal gov't to have the balls to stop it. Time for gov't change. If you don't live here you cannot buy here. Simple as that. we don't need foreign investments in our real state.if they don't live here they aren't spending money here to keep economy going.or creating jobs.all they are doing is tying up space for our people. Should be like Thialands law or Cubas law. Foreign investment should be only in the buissness sector only.not real state. Our people here keep the real estate going just fine. Has been like that for 100 yrs. only since the olympics has foreigners bought up houses. And now where do you put the 305,000 people Truedea wants to bring in? Foolish fricken liberals both federally and provincial. They won't be voted in in next election because of too many people are all ready fed up with Canada's policy to bring in many people.our job markets here are mostly part time and in restaurants and low end jobs. Our middle class is vanishing quickly.no jobs in the fishing industry.forrestry,oil and gas minning for copper silver gold nickle ore etc. Why?? To many people. Wasn't like this from 1950s to 1990s. There was lots of jobs for middle class.the more people you bring in the more space they take up creates more pollution more strain on our healthcare environment farming roads sewers hydro water etc. We start creating a poorer nation because of to many people. Only bring in 2x as many that die or leave each year to sustain our living and country.
Prices should come down so a lot of purchasers can afford and jobs should increase
Prices should come down so a lot of purchasers can afford and jobs should increase