Vancouver Real Estate Faces Downward Pressure of Economy
The Vancouver Real Estate market should completely stabilize within the next couple of years according to a report from TD Economics. The improving economy will entice the regular markets with attractive incomes and job placements. The rising interes
Online, April 17, 2011 (Newswire.com) - The Vancouver Real Estate market should completely stabilize within the next couple of years according to a report from TD Economics. The improving economy will entice the regular markets with attractive incomes and job placements. The rising interest rates will play a factor in easing the house prices. The interest rates are not leaping in bounds at the moment and should not unless a crisis happened.
The new regulations will make new buyers and older buyers pre-purchase before the laws come into effect but the CMHC is foretelling of a softer landing, even with the declines in home sales.Vancouver real estate has suffered a setback with the slow economy and the high prices of the housing market. However, the pressures of the economy will crunch the housing prices and allow for a general stabilization across the board. Canadians are too focused on selling their hot property and should be focusing on the quick recovery of their economy after the super cool down. The interest rates will increase with the buying aspects, considering this is a good time to purchase cheaper properties. Once the economy catches up to the rest of the market, it will be too late to enjoy the low rates and cheap properties that Vancouver is currently offering.
The Vancouver real estate market will survive with all the changes and buyers will come and go. The prime estates are the luxury properties that are suffering the most, sellers are trying to pay off bills but no one is looking to pick up these sweet little deals. The rural houses are enjoying some of the best sells of the year at the moment. The suburb issues are forcing those to move to cheaper properties. Even though the national economy is improving but not fast enough for most residents. Canadian Real Estate on the national level is on the lower end of sales but most buyers are waiting for prices to drop even further to buy, their time is running out as March and April approach with the new government regulations.
The condominiums are enjoying a rapid boost with the seasonal workers and the slight expansion of the economy. The problems with the real estate are that the economic slowdown has caused a lot of residents to rethink their positions. There are a lot of sellers holding fast to their price requirements and this is fine. There will be a point in this year, which regret will settle in and people will have wished to have bought earlier in the year instead of mid spring or later.
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Tags: condos, Real Estate, vancouver real estate