Vancouver Property Prices Keep Rising
December 8, 2010
According to an article in The Province, property prices are rising in Greater Vancouver and should rise 12 per cent this year and five per cent in 2011. This article was based on a report by Re/Max. Can their reports be believed? No. Do they have the interests of real estate agents at heart? Yes.
According to the Re/Max report Greater Vancouver’s average home prices will end 2010 at $665,000, rising to $698,250 next year. It is clear that the dreams of owning a home in the area are going to stay dreams; most people will never be able to afford a home at these prices. According to the article the real estate market in 2011 will be “vibrant”. It won’t be Vancouver locals keeping the property market but people from Asia it says. There were no mentions of economic trouble in Asia or the effects this might have on the Canadian economy. No mention either of the Vancouver property bubble that many experts say is coming.
http://www.theprovince.com/business/Vancouver+house+prices+keep+rising/3944189/story.html
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