Comments section at robchipman.net (26-28 Nov 2009) is liberally peppered with anecdotal observations of slowing RE markets in and around Vancouver. Perhaps it’s all attributable to the 25 days straight of heavy rain we’ve endured. This from Anonymous 28 Nov 2009 6:57 pm –
“Third offer on my place has fallen through. Reason was the same each time. Failure to get financing. Banks may be tightening up. I know my line of credit interest rate just went up. I’m dropping my price on Monday and will get out fast before this market turns sour on me.”
CAVEAT: Rob Chipman, in a posting at his blog (the source of this anecdote) 29 Nov 2009 10:04 am, expresses doubt regarding the veracity of this anecdote (based on IP address of a multiple-poster). Híppos Purrós in the same thread 29 Nov 2009 11:08 am also expressed doubt but, interestingly, added their own anecdote – “Both of [my] girlfriend’s recent YVR RE disposals have fallen through. Buyers’ financing was withdrawn at last moment by lenders concerned about pending special assessment”.