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When will Vancouver Real Estate hit bottom?
That is a question I get asked all the time. Like I have said in comments my post on Why Vancouver Real Estate Prices Go Up and Down, if I knew when the Vancouver Real Estate Market was going to bottom, I would no longer be working…
What we can say for sure is where the market is going over the next little while and this is based on the consensus of expectation.
There is a general consensus in Vancouver among buyers and sellers of real estate that prices will continue to fall and buyers and sellers are acting accordingly.
We will see the bottom of the Vancouver Real Estate market when buyer and seller expectations diverge and the consensus is broken. Buyers will still be thinking prices are coming down and sellers will have some good news to give them hope that if they hold there will be hope going forward of hight future prices. Price will start to rise and a new consensus will form based on rising prices.
I can’t wait!
I’d love to hear your thoughts LEAVE A COMMENT!!
Just a quick note about the budget impact on the economy.
You mentioned in your last post that you thought the economy would see a boost from the influx in cash. Apparently some experts think NOT.
Budget’s tax cuts pack little punch
Where did your beard go!?
LOL!
Hi Rod,
I had to shave, the wife wasn’t feeling it.
You know how it is. Happy Wife, Happy Life!
I agree with you and the article that tax cuts are not the correct course of action. In another post on this blog I made the argument that government spending on infrastructure is the best way to stimulate the economy.
The Keynesians are back with a vengence and I love it! Direct spending by Gov’ts is also more progressive. If you have no money and a job from a publicly funded program, you’re a ot better off than being broke with a big tax cut.
Government spending will get us out of this mess. Look at the Depression. Vast government spending for the Second World War was what North America back on its feet. It will work…