Now what?

When will we see change?! According to Helmut Pastick, chief economist for credit Union Central of B.C, he suspects the Vancouver Market is actually in the beginning stages of cool down. There will be modest price increases for the next years and potentially he predicts small declines after 2010. Probably due to the 2010 Olympics.

What we are not expecting -an economic recession sharp, rise in interest rates or a burst in our little housing bubble. This would all generate a substantial price drop to materialize.

What could happen? Big price drops. Which leads to oversupply of housing. This would only be achieved if droves of people dump their homes on the market which isn't expected to happen.

One thing certain: Vancouver will remain expensive.

So i would say it's up to you out there if your willing to wait until after 2010 and take a gamble . And for the rest of us teens or younger people who wish to grow up and live in a house with a "white picket fence". Dream on, unless you win the lottery off course. :)

Link to another great Blog : The US Housing Market