From ‘Vancouver’ at greaterfool.ca 11 May 2011 10:03pm – “I sold a Vancouver residence and have invested the money in the market, the investments (mostly Canadian dividend stocks) are yielding me enough money to live off. I’m also in the process of trying to get “permanent residency” in the U.S., ultimately I want to live somewhere cheaper and warmer than Vancouver. I won’t work in the states, I’ll just be living off my dividend income and probably just renting.”
The ability to sell a property in Vancouver and as a consequence retire comfortably elsewhere is a bizarre phenomenon in its own right. This is likely already tempting some to sell, and thus putting some downward pressure on Vancouver prices. So far, that pressure continues to be overwhelmed by the upward pressure of ongoing speculative buying. When prices turn and start dropping, many owners who feel they are then watching their comfortable retirements evaporate before their eyes, will rush to market. They will add to supply in a falling market. – vreaa