Is There A Real Estate Bubble In Vancouver?

 

 

 

The Media Has Talked About It For Months

Is There A Vancouver Real Estate Bubble?

What Are The Economic Factors Behind It?

Why Have The Prices Gone Up So Much?

 

There are a number of factors that speak to where the Vancouver Real Estate Market is going.  Some say it’s overpriced, some say it’s unsustainable, some say there’s a bubble.  

Here are a few key points I’d like to point out:

• Late 2014/Early 2015, Government CANCELLED the Immigration Investment Program which basically allowed foreigners to come to Canada, give the government $800,000 as an interest free loan, wait a few years, and then they’d get their Permanent Residency status along with the money back
  • The RESULT:  initial panic by those NOT in the real estate industry, but many experts in the real estate industry said that this wasn’t going to affect the market a whole lot as it targeted the extremely wealthy foreigners and that it may slow down the market for the extremely high end homes in the $5M plus range.  Currency was still good, in the end, it didn’t affect the market.
• My Understanding of the China Market:  when China’s economy is doing well, people go abroad and buy real estate property in Canada, US and Australia, when China’s economy IS NOT doing well, they do the same thing.  

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