Despite ballooning inventory, decreasing sales, and the beginning of downward pricing pressure on sectors of Vancouver Real Estate, most people are still convinced that Vancouver RE is a good investment.
This from markoz at mohican’s Langley Financial Planning blog 1:08PM May 04, 2008 -
“Most people are still oblivious. A co-worker, who is a long-time homeowner, mentioned to me the other day that she wished she could afford an apartment downtown as an investment. I told her about the 18,000 empty units and preponderance of 40 year mortgages amongst first time buyers and she said, “A 40 year mortgage isn’t so bad, at least you own the place.” Sigh.”
