Can we expect the same from you when the market dies? The silence from the realtors when the market died in 2008 was defeaning.
Actually I was here. I did a video on the fact that it was a great time to buy in Douglas Park. I then went out and bought in said area. It's always nice to practice what one preaches.
However TP, rest assured the silence from some rather infamous bears right now is remarkable. After all, whatever happened to good ol'
'flood of listings Freako',
Grantness, etc...?
I remember in the early spring of 2009, people began to buy again. I actually remember the week it started to happen. I saw a 33 ft corner lot, fully renovated in '04' Kitsilano home with a 2 bedroom legal suite, sell for $900k. It became very obvious that many people at that time felt that sort of price acceptable regardless of the bull or bear gurus. Even the nay-sayers started to back down.
There are so many people who wish to own a detached home in Vancouver East and West that cannot afford to and even if the market ever drops, it will only go so low and people will buy, just like '08-'09. If you think we are going back to 02-03 prices you have
ZERO idea of how many people here wish to own a detached house.
You love ignoring that fact, though, and prefer to concentrate on the rest of BC. Knock yourself out.
I will say this, though. The prices of Dunbar, Point Grey etc.. do make one wonder what happens if the support of foreign money leaves. I'm fairly certain that the local market won't support $2.7 million 50 ft lots but whether or not the money is 'parked' or here forever is the billion dollar question.
The argument was about the % of price declines. Some bears were throwing numbers like 50% or some even 70%+ correction.
Non bears were saying in the neighbourhood of 10%. Who turned out to be right?
Exactly.