“I sold in Van West about 6 months ago, I’ll buy back in if prices go down about 30-35%, that’s the percentage that would make sense to maybe jump back in, and only if the rates are still relatively low. If it doesn’t go down that much then I’ll just keep renting…kind of enjoying renting actually”
- vangrl at vancouvercondo.info 20 Sep 2011 4:03pm
“My wife wants to buy NOW! because she thinks we are throwing away money renting. Its a battle! She also hates moving as do I. The problem is there is a lot of people who have sold, and are sitting on a lot of money. We all sold at different times.”
- mattymatt123 vancouvercondo.info 20 Sep 2011 12:57pm
How many Vancouverites have sold their primary residences and are now renting; waiting on the sidelines, hoping to buy at lower prices?
Will that ‘pent up demand’ ensure that any price pullbacks are shallow, as many are predicting?
How will these prospective buyers respond when prices do indeed start dropping?
(Our opinion is that this is a relatively small pool of buyers, and that, even if they do step in and buy, the effect will not be enough to overcome the massive downward momentum in prices that will occur when our very broad-based speculative bubble implodes).