Comments on: Vancouver Real Estate Reverses Course Post-Election As Prices Jump Over $9,000

By: Van YIMBY

Van YIMBY — Tue, 05 Oct 2021 01:10:52 +0000

Most of this is being driven by a shortage in the suburbs. As more building happens out there, I would be a lot more hesitant about long-term gains in far out regions than city centres.

By: Barrett

Barrett — Tue, 05 Oct 2021 00:48:20 +0000

Prices are rising because the government promised to make more supply. Does anyone else see a pattern here?

By: Ethan Wu

Ethan Wu — Tue, 05 Oct 2021 00:47:41 +0000

Mortgage rates falling right after the election for two weeks definitely provided a boost. Pre-approvals for another 30 days now before we see the impact of the rate reversal climb.

By: Trevor

Trevor — Tue, 05 Oct 2021 00:46:39 +0000

In reply to Nassim. Same problem across most of the country. No one knows what impact rising interest rates will have, but that's going to throttle most buyers to see what happens.

By: Trevor

Trevor — Tue, 05 Oct 2021 00:44:36 +0000

In reply to Richard. The board uses benchmark prices to determine where prices are working, and for two months in a row prices managed to be flat. That's a nearly statistically impossible fete, but it happened. Not saying they're lying, but there's something weird about how these numbers are being adjusted.

By: Richard

Richard — Tue, 05 Oct 2021 00:42:41 +0000

I’m getting suspicious of these board stats. Prices in my condo are definitely falling. I don’t know how much longer it’s going to since listings are drying up, but it’s definitely changing.

By: Nassim

Nassim — Tue, 05 Oct 2021 00:41:06 +0000

Inventory dried up pre-election. Who’s going to sell when the government is giving everyone handouts? It would be silly to not take advantage of buyers getting more money.