“Two things happened. Amount the buyer will qualify for is now lower, so not sure if they can afford same place. And, the buyer said they should really wait as things will get cheaper.”

“My good friend’s wife is realtor on the North Shore. She was about to close on condo purchase (she’s the buyer’s agent). Two things happened – – amount the buyer will qualify is now lower, so not sure if they can afford same place – and – the buyer said they should really wait as the market will now fall so things will get cheaper. That’s one grass-roots feedback.”
ZRH2YVR at VCI 28 Jun 2012 7:49am

Two of many things that happen when markets start falling.
Note how someone who considers themselves an imminent buyer takes a step towards the sidelines. Demand does not behave in a linear fashion.
– vreaa

8 responses to ““Two things happened. Amount the buyer will qualify for is now lower, so not sure if they can afford same place. And, the buyer said they should really wait as things will get cheaper.”

  1. More insidious is that lending will be further curtailed as prices drop even as rates remain low. It will seem obvious.

  2. Check out the photos at MLS# V956126.. No less than 8/10 are various touristy snaps of crusty Kerrisdale. And here I thought they were selling a house.

    • These pretzels are making me thirsty

      This house is listed at more than 2 million. What an outstanding piece of crap!!
      Even an 80 percent correction would not be much for this beauty.

    • Some real doozies there.

    • This skyway tower has been endlessly advertised on chinese TV station for over a month. Has it not been sold out? :O

      The said realtor is well known in the chinese community for selling cheap condos… cheap as in quality, not price.

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