“Richmond Detached (homes) Inventory
30 Sep 2008 = 1012
20 Apr 2012 = 1021
Richmond at record high and its only April!”
– Inventory at vancouvercondo.info 20 Apr 2012 2:02pm
“There are more and more people over at the Chinese [internet] forums reporting price drops in their neighborhoods (be it Richmond condos or Coquitlam SFHs). More people are voicing their skepticism that Vancouver RE market will continue to go up. Many already accept the view that Van RE price will decline at least a couple % this year.
People are noticing the glut of thousands of upcoming Richmond condo units, and are advising against buying at this time. A few people are saying their close/trustworthy Chinese Realtor friends are saying the RE market isn’t looking good; however the other Realtors (whom they’re not close to) are still trying to paint a rosy picture.
Sentiment is changing, even among the HAM.
They say housing is the most emotional of all assets.
Perhaps declining investor sentiment alone will bring on the downturn, even before hard credit events, massive job losses, or CMHC/OSFI rules kick in.”
– VMD at vancouvercondo.info 20 Apr 2012 2:02pm