A 'Lot' Of Realtors Agree: No Price Drops Ahead

From MacDonald Realty November Market Update, November 2010 -
“The Macdonald Realty 2010 Real Estate Conference was held on October 19th at the new Vancouver Convention Centre. Over 300 residential agents, commercial brokers, and property managers attended this event which featured … prominent guests and speakers.
The highlight of the event was a discussion between a host of prominent economists and industry leaders.
BMO deputy chief economist Douglas Porter led the discussion with an overview of the Canadian economy and global forces that could affect the economic recovery following the great recession. He concluded that while there was a chance of a double dip in the global economy, it’s much more likely that the current recovery would stick, albeit the pace of growth will be slow.
UBC real estate professor Tsur Sommerville gave a presentation on the BC real estate market and stated that the recent resurgence in prices meant that future gains would be slower than in previous years. That said, he also saw no sign of a pullback in prices and predicted slow, but steady price growth for the foreseeable future.
Bosa Development VP Eric Martin agreed that prices were unlikely to fall, stating that the US and Canadian housing markets are markedly different for one reason: bank lending practices.”