“I still say no crash in Vancouver in regards to single family homes.
Sure real estate sales are slow – it’s December!
Spring will bring a flurry of sales in single family homes -don’t forget that “Real Estate is emotional”
As soon as the price dips a bit (maybe 10-20%) and there are lots of listings – people will flock to the market.
Vancouver is like the San Francisco of Canada. Prices never dipped there more than 20% from the peak and have rebounded to almost peak values . Check Zillow if you don’t believe me.
Vancouver has the mildest climate of any major city in Canada and is the most attractive major city in Canada.
Definitely no “crash” in Vancouver in regards to single family homes.”
– western observer at greaterfool.ca 11 Dec 2012 12:26am
Keep chanting “no crash in SFHs” and perhaps that will have some kind of buoyant effect.
We disagree with this ‘argument’, which is little more than an expression of hope. It also sounds like the seeking for reassurance.
SFHs are as overvalued as any other Vancouver property type, and we fully expect them to plunge in price to pre-spec-mania levels.