Robyn Adamache, CMHC market analyst – “Vancouver is down 9% from the 2011 peak.”

“On the CBC Radio Early Edition this morning [13 Nov 2012], a few minutes before 7:00 am, Rick Cluff interviewed CMHC market analyst Robyn Adamache, who will be speaking this morning at the CMHC conference in Vancouver. No mention at all of a bubble, and the typical positive spin — “market may decline 1% in 2013” — but there were a couple of interesting things. She said Vancouver (I’m assuming broadly across the Lower Mainland) is down 9% from the 2011 peak. I’m assuming she has access to comprehensive and current data not generally available. And at the end of the interview, with Cluff pushing her pretty heavily on whether now was a good time to buy, given the price slump, she adamantly remained on the fence, and wouldn’t state an opinion. Rather interesting if you’re saying, at the same time, that the market will be stable in 2013.
There may be some followup stories in the local media about the half-day CMHC conference, although I doubt there will be any great revelations, or admissions of any impending serious problems with RE. Given CMHC’s role in all of this, they are probably controlling their message pretty carefully these days.”
– Froogle Scott, via e-mail to vreaa, 13 & 14 Nov 2012