The Perfect Storm for Vancouver’s Housing Market
Reasons why I’m convinced that the housing bubble in Vancouver will now burst:
1. Inflated prices where 1bdr condos are selling for $750K-$950K are simply ridiculous
2. NDP government is cracking down on presale condo flipping and implementation on taxes against foreign investors
3. More Chinese international students are returning to China due to better economic prospect (over 80%)
4. Rising interest rates will put the Canadian economy into recession and bringing down wages
5. Tougher mortgage qualifications
1. Inflated prices where 1bdr condos are selling for $750K-$950K are simply ridiculous
2. NDP government is cracking down on presale condo flipping and implementation on taxes against foreign investors
3. More Chinese international students are returning to China due to better economic prospect (over 80%)
4. Rising interest rates will put the Canadian economy into recession and bringing down wages
5. Tougher mortgage qualifications