Facts are a M*Fer...dundeal wrote: ↑ And actually, it hasn't picked off where it left. People are not looking at the complete data, or just choose to ignore it.
Since FBT, the listings are way up and the sales are way down. Detached prices aren't moving but that is expected as RE prices are sticky in the short term. Also, the rise in prices people are quoting today is vs March'2017. The FBT was brought in August. Will be interesting to see YOY price in September. They should compare prices since FBT, not YOY. Lastly, the price rise in Vancouver since FBT is mainly seen in Condos/cheaper houses and the interest free loans for first time buyers played a big part in that.
Obviously, many still will not look or believe the facts and keep on harping Vancouver is in a boom and the meteoric rise continues.
Yep, still going up: Canada new housing prices rise on Vancouver, Toronto strength
Vancouver prices posted their first price increase in five months, jumping by 0.7 percent on better market conditions. Vancouver is the largest city in the Pacific province of British Columbia, where the government imposed a 15 percent property transfer tax on foreign real estate buyers last August.
The price index excludes apartments and condominiums, which the government says are a particular cause for concern and which account for one-third of new housing.
Last edited by WinterSleep on May 12th, 2017 3:33 pm, edited 3 times in total.