All in Forecast

Vancouver Market Update - August

It’s official. Both House and Condo apartment prices in Metro Vancouver dropped in July. RBC Economics says they now believe that the mortgage stress tests will have larger, longer-lasting dampening effect on home sales than we previously thought.

All levels of government have targeted a “soft landing” but will people lose interest in buying real estate if it only appreciates by 1-3% annually? Will the realization that the party is over lead investors to the exits?

Proof the Metro Vancouver housing supply problem is REAL and could get worse.

The housing supply problem is real and could get worse.

We’ve all heard people in Vancouver who blame lack of supply for housing unaffordability. Many will have heard the opposing “Supply Myth” argument. Our analysis at Mortgage Sandbox shows that the supply problem is real and could be worse than any of us imagined.

We need to settle this once and for all, so that government can act quickly to solve our housing crisis.