There is a New Great Depression on it’s way. This will dwarf 2007 Great Recession.
Our Vancouver market was based on Quanatative Easing and Dirty and Black money from China.
People believe they were rich because of how much their houses were now “worth”, more than we ever thought possible. They refinanced and bought their dream cars, boats, vacations, ect. They were hundreds of thousands of dollars more in debt, but their monthly payment was lower.
This year is the just the beginning of the chickens coming home to roost!......