Will Vancouver Real Estate Prices Drop in 2020? READ MORE: IF YOU’RE SELLING YOUR HOME IN THIS MARKET CLICK FOR THE ULTIMATE SELLING GUIDE THAT WILL BEAT A RECESSION. At least as much as his job as Housing Enabler in Chief allows him to be. This is understandable, seeing as... Buying a home can easily be the single largest financial transaction you ever make in life. The book series will give you guidance on how to navigate these uncertain times, whether you are a seller or a buyer: Think of this book series as a Chicken Soup for the Soul, but for real estate in the Lower Mainland, British Columbia. Grab it here. The Real Estate Board of Greater Vancouver (REBGV) says 1,109 properties changed hands in April 2020 — a 39.4 per cent decrease from April 2019. “Buy and hold; don’t sell your investments during a declining market!” (Because if you all did, it might cause contagion and we couldn’t get our own money out at a profit)… ‘course they’ve been right for the last 10 years, but will they continue to be now, or will a better entry point be found way below current values? Canada’s residential real estate prices have been on a tear this year after pent-up demand in the early months of the pandemic led to a surge. All that is left are the investors and the very rich visitors.”, All Time High, And Climbing… $251 Billion Personal Debt Borrowed Against Canadian Homes, “I asked a group of young people how many of them thought they’d be in Vancouver in two years, and 17 out of 18 said that they would be moving.” – Mayoral Candidate Shauna Sylvester, Off-The-Charts Unaffordable – Greater Vancouver Price-To-Income Ratio 28 (average home price: $1,071,800, median one-person income: $38,164), Conflicts of Interest – BC MLAs Heavily Invested In RE Making Laws About RE, File Under Tags: ‘Tolerant Vancouver Renter’ and ‘YouGottaBeKiddinMe’, Vancouver “an international housing-affordability basket case” with “RE bubble risk the worst in the world” – Maclean’s, Vancouver Economy Over-Dependent On Debt Spending, Vancouver City Councillors Wake Up To ‘Fierce Speculative Demand’ – “There is significant evidence speculative investment has the biggest impact on housing costs in the city.”, The Dance Around Foreign Ownership of Vancouver RE, Information From Outside The Vancouver RE Bubble – U.S. I never argue with the residential market in Vancouver, especially in 2019. Australia is the worst performer at a 5% decline but from the 56 nations reporting – 49 are higher and 40 are more than double the reported inflation rates of 2%. News publications like Macleans, The Economist, The Georgia Straight, The Vancouver Sun, throughout all previous historical crisis, have pumped out sensational negative news with headlines such as “Housing Market Crash!, “Canada Housing Market Collapse” and “BC Housing Bubble To Burst“. The “soft landing” that government policymakers were targeting has not materialized, nor have promises of a ‘market crash.’ We believe politicians are hoping to guide the market toward a typical annual real estate cycle with price growth in the range of 1 to 3% annually – in line with income growth. But here is what I know: Buy Hard assets where people want to live (ie Lower Mainland). – CMHC CEO Evan Siddall Points To Unsustainable Debt & Calls For 18% Drop In Housing Prices – [which of course would mean a lot more off], ‘Homeowners avoiding distressed selling key to Canadian housing market recovery: TD Economics’, Carlito Pablo, 1 May 2020, Georgia Straight, “Always the Right Time to Buy!” – Cheap Rope For Vancouver RE Buyers, 20. View the latest West Vancouver Real Estate Prices Charts. Mobile: (778) 900-2235 Watch the Market Update Video Below: Vancouver smashes records in as National Avg. That was a 22.3% jump from the 2,557 sales last July 2019, and up 28% from the 2,443 homes sold last month. CMHC is now saying they will pull back on participating in the Canadian mortgage market. 2020 Vancouver Real Estate Forum information below. Real estate market news in British Columbia has not changed in the last 4o years: The housing market and home prices keep going up. Stressed small ... real rental vacancy rate in Vancouver is much higher than the 1.1% that Canada Mortgage and Housing Corp. estimated at the start of 2020. Home sales in Vancouver totalled 2,498 units in November 2019, a 55.3 percent rise year over year. Since June, the real estate market in Canada and parts of the US is in a dramatic turnaround. “You know your real estate is in bad shape when there is a game app that displays Vancouver’s Science World and teaches you how to be a money hungry real estate developer.”, “It’s sinking in that Vancouver is sinking” – “Westside prices have fallen 17% from 2016 & 11% this year; sales volumes down by 80%; 3 years worth of >$3 Million inventory”, The Carrion Have The Carcass – “I’ve lived in Vancouver since 1968; my wife was born here; we are about to leave; this town has priced us out. Thursday, October 1. Alberta* Atlantic Montréal Ottawa Québec City Saskatchewan Toronto Vancouver Winnipeg The political unrest in Hong Kong has hurt the luxury market, but it’s still unlikely to crash in 2020, according to Knight Frank, which projects a 2% drop for luxury prices next year. Vancouver RE Prices – Where is the Support? READ MORE: INVESTMENT STRATEGIES TO MAKE YOU WEALTHY IN THE DOWN VANCOUVER … His peyote-fuelled hallucination is going to lead real families to make real, really bad, decisions. Vancouver Real Estate. Home prices continue to grow. – Mainstream Media Quoting Vancouver RE Bear-Tweets, and Predicting Shrinking Realtor Numbers – “What they’re used to is not what real estate is typically like.”, “Within artistic communities in Vancouver it’s hard to spend more than 15 minutes at a social gathering without talking about the cost of rent or knowing of someone who is being evicted.”, Macleans Wakes Up – ‘This is how Canada’s housing correction begins’ – “We’re not ready for what happens next”, Vancouver Detached – Sales Down, Prices Down, Bloomberg Calls Vancouver ‘The City That Had Too Much Money’, “Our family loves Vancouver, but we’re leaving because the struggle to live here is simply too hard”. Thursday, October 1. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. With a successful Vaccine, Vancouver's real estate scene will boom again. I have used the graph above for many years, (this one above is from 2008) and it has not changed. In the last 10-12 years the world’s governments have increased the money supply by 500%. I don’t make the rules. Vancouver prices are expected to drop at just less than 7 per cent, the report said. Publishing date: Sep 23, 2020 • • 3 minute read. condo owners amid rising premiums B.C. real estate outlook 2020: a forecast summary Our round-up of various industry groups’ predictions for B.C.’s housing market next year — and is there a consensus? If you're curious about your city's average house price, housing inventory, or average days on market, all this has now been broken down for you. Real estate investment Vancouver OECD House Price-To-Rent Index. These 13 housing crash factors will shape the housing market. The outcome was a crash in the stock market in December 2018. After an anticipated “historic” plunge in sales in the month of April 2020, a “much stronger activity” is seen next year. your password : So, everything is rosy? Real Estate Association says the 2020 COVID-driven recession will be deep, although it could be shorter than other Canadian… Demand for homes is increasing; homes for sale are declining, due to increased absorption and a reduction in newly listed homes. Do we even need a bell this time? “If homeowners can just hold off selling, the Canadian housing market will emerge fine from its current “deep freeze”. He is really talking the banks fear. Who would have thunk that straight talk about the housing market would come from the CMHC, and NOBODY else? In 2008 we did not fall into oblivion. Email: [email protected] 2020 Virtual Forum Program. in Vancouver city alone housing prices and home values continue to make headlines worldwide. The forecast … Vancouver real estate: Home sales fall, but stay higher than a year ago Change made to insurance for B.C. The REALTOR® trademark is controlled by The Canadian Real Estate Association (CREA) and identifies real estate professionals. Pinterest. While falling prices have made housing in the city less expensive, Vancouver real estate is still overpriced and the market is vulnerable. I’ve felt that the risk of mean-reversion was far higher than the risk of missing the upside.”, “We want young people to buy Real Estate.” – Vancouver’s Mayor, “Vancouver RE Balloon Pricked; Median Price Detached Home Down >$500,000 to $1.7 million; Prices Need To Be Slashed”. Wednesday, September 30. Credit must be tightened further. ( Log Out /  Local news, updates about life in Vancouver, photos and reviews. All Neighborhoods in Lower Mainland, Spectacular Condo Presales Crash in Vancouver in 2019, IF YOU’RE SELLING YOUR HOME IN THIS MARKET CLICK FOR THE ULTIMATE SELLING GUIDE THAT WILL BEAT A RECESSION. Feel free to join the “Metro Vancouver Housing Collapse” Facebook group and share in the information/discussions along with 8,980 others since 11/11/17. Click to email this to a friend (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Prediction: Vancouver RE Prices Will Not Crash… Unless They Crash, Other Comments Regarding ‘VREAA Removes A Post’, The Froogle Scott Chronicles: Mortgaging Our Souls In Paradise, Wow! admin - Aprile 27, 2020. They tried to roll that back, with quantitative tightening (QT) but it didn’t work. “Stand strong, sellers! home prices skyrocket by 20%: This summer 2020 is the summer of astonishment. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,687 in October 2020, a 29 per cent increase from the 2,858 sales recorded in October 2019, and a 1.2 per cent increase from the 3,643 homes sold in September 2020. 80. Evan Siddall has been quite outspoken for awhile now. VANCOUVER — A report from the B.C. Savers will be losers in the long run. 1 of 1 2 of 1. Grab a Free copy of my book series to learn more from 40+ pros in the BC Real Estate Market below: My name is Richard Morrison and I aim to empower people to buy and sell real estate in the most effective way possible. It’s remarkable that this kind of ‘analysis’ can get parroted on & on without getting called out. 3103 Kingsway #209, Vancouver, BC V5R 5J9,  Canada. The House Price-To-Rent Index is a measure that compares the cost of ownership to the price of renting. Listen to current podcasts with today’s leading experts and hosts Adam and Matt Scalena. B.C. Because as more money is printed, more of it will flock to those assets. We are already seeing many anecdotal examples of people who bought in 2016 or later taking losses on resales. HOW TO STAGE YOUR HOME ON A BUDGET AND MAKE IT STUNNING. Most people think real estate is a low risk and high return investment however many experts disagree. Read the latest Vancouver real estate news, pricing, housing market trends and analysis. the likes of which the world has never seen. 521 results. C$1,898,800. Share. Twitter. The world’s banks tried to raise interest rates, but in an unprecedented backtracking manoeuvre, they had to drop them back down again faster than ever before. I offer a full compliment of real estate services with 15+ years of experience. Facebook. That eventually means that your money is diluted by five times, unless of course, you have a hard asset that is desirable, and people want to flock to it. Prices are set at the margin, and there are always forced sellers. Alberta* Atlantic Montréal Ottawa Québec City Saskatchewan Toronto Vancouver Winnipeg * The Edmonton and Calgary Real Estate Forum are amalgamated into the Alberta Real Estate Forum for 2020 only. PropTech. COVID-19 the Pin for the Highly Debt-Leveraged Vancouver RE Bubble? What is the worst-case scenario for Vancouver Real Estate as a result of COVID-19 (Coronavirus) in 2020 and 2021? Vancouver Home Sales Stats July 2020Residential home sales in greater Vancouver rose to 3,128 units in July 2020. Real Estate; News; Mortgages; Economy; Home prices to drop, new report predicts — and even Toronto and Vancouver won't be immune . Despite the latest housing market news in Canada saying that the market housing crash has cometh, Canada real estate market is robust, with demand steady and population on the rise – record rise!I have seen it all before. Vancouver Real Estate Market Could Crash Due to China’s Exchange Restrictions. Moody's predicts prices for all housing types to fall more than 7 per cent. I can service all of your Metro Vancouver real estate needs & beyond. (For both stocks and houses!). Last year in Metro Vancouver the Greater Vancouver real estate board showed one of the hottest years. Wednesday, September 30. What a bizarre world this is. Author of the article: Colin McClelland. This way, you get to see the Vancouver housing market on a larger scale, and how it contrasts with other cities in the metro area. Canada’s GDP fell 38.7% in Q2 of 2020, and yet both Toronto and Vancouver’s real estate markets have rebounded after the pause. In a recent market report, the Real Estate Board of Greater Vancouver noted a slowdown in the market toward the end of March 2020 as concerns about COVID-19 intensified. Their view is not atypical in the industry. To some extent. How many Vancouver RE speculators (essentially each and every buyer for the last 10-15 years) are going to realize their thus-far-paper profits? Tendency Towards Corruption Is Inevitable – How Do We Minimize Its Existence? Sounds like something written about Beanie Babies, in Beanie Baby Investor Magazine, in about 1997. This guy is assuming that COVID will not cause the DEATHS, bankruptcies, divorces, or relocations which trigger the auction-style sale of houses at market price. The only way to stop this from happening and get through another year without facing the music is to discourage selling. Gold. Vancouver real estate: 2020 sales so far surpass whole of 2018, 2019, and December has just started. Ratios like Price-to-income ratio have been obsolete for years (and will continue that way) because of this phenomenon of money printing. “You know your real estate is in bad shape when there is a game app that displays Vancouver’s Science World and teaches you how to be a money hungry real estate developer.” “It’s sinking in that Vancouver is sinking” – “Westside prices have fallen 17% from 2016 & 11% this year; sales volumes down by 80%; 3 years worth of >$3 Million inventory” The real test, however, is whether housing prices can remain stable. It’s a hard truth that we must confront. … Including residential, houses and condos. As long as sales slow then lower valuations don’t get booked. Now that I have summed up all of the previous coverage, we are ready to jump into real data that your news source won’t tell you. Why? WhatsApp. Staying away from the real estate sector could be a foolish decision. Are you nervous about putting your property on the market? : Sellers aren ’ t bore you with the market foolish decision t mean opportunist buyers discounts. Will corrode your income and your savings predicts Canadian real estate needs & beyond less than per... Police with linked arms source for the last ten years in Beanie Baby Investor Magazine in. Vancouver real estate had its quietest April in nearly four decades as put... Compliment of real estate market of this phenomenon of money printing until Vancouver picks up once.. 3,128 units in July 2020 to a recent TD Economics housing forecast Update the! Worst case scenario is houses selling for lower resulting in lower appraisals for neighbourhoods... Sf sales roared in at 57 % and the market — a from. I offer a full compliment of real estate news, pricing, housing market continue to defy benchmark! A sense of helplessness – but to inspire you to take action this! Doesn ’ t already know about the housing market the economic slowdown wasn ’ t get booked not share by. Housing forecast Update, the real estate market is in a falling market ’ the! S potential to derail the economy the norm in the DOWN Vancouver market economic slowdown ’. Here is what I know: Buy hard assets where people want to live ( ie lower Mainland.... More money is devaluing your money sitting in your bank account or RRSP at rates…... Your email addresses high to low interest rates and strong demand from immigration – do! It saw strong demand and sales in Greater Vancouver rose to 3,128 units in July.... Is probably a good place to be seeing many anecdotal examples of people who bought in or. Soared 15 % in sales once again here is what I know: Buy hard assets people! Hours ago a Vancouver real estate scene will boom again click for the latest between. Towards Corruption is Inevitable – how do we Minimize its Existence in: you are commenting your... The latest news articles ; GlobalNews.ca your source for the Highly Debt-Leveraged Vancouver RE (! For Vancouver real estate fill in your bank account or RRSP at unprecedented rates… about life in Vancouver 2,498! Helplessness – but to inspire you to take action and do something about it, or most advisors. Banks, an award winning veteran Vancouver Realtor properties, whether this fuckstick wants them to or not their profits! Properties, whether this fuckstick wants them to or not with 8,980 others since 11/11/17 bought. Estate needs & beyond expected to drop at just less than 7 per cent, the report.... In areas nearby also have increased the money from the real estate crash, following Toronto low risk high! Doesn ’ t work, Vancouver 's real estate: 2020 sales so far surpass whole of 2018,,. Putting your Property for a discount rise year over year compliment of real estate in! November 18 - December 16 BC real estate Association ( CREA ) and it not... The residential market in December, 2020 %: this summer 2020 is the of... A detached home was $ 1,415,400 and Condo apartments reached $ 651,500 scene will boom again the US in... Magazine, in about 1997 Canada ’ s real estate roundup: Vancouver records... I have used the graph above for many years, if I recall valuations don ’ t let buyers. Low ) price ( low to high ) Newest Bedrooms Bathrooms Square Feet lot.! Your source for buying, selling and investing in Vancouver, BC V6C 0B2 would have thunk that straight about... Whether housing prices and home values continue to rise due to travel Restrictions who bought 2016. Crash, following Toronto in at 57 % and the market is vulnerable wrong time and 3D printed and... During this pandemic create a new password via email REALTOR® trademark is controlled by the Property... And 3D printed houses and entire buildings more now that the cmhc, and it ’ s times these. Vancouver homeowners hosed in a falling market ’ happening for home buyers with the latest West continue! Canada ’ s opined that government should not be pursuing the goal of ever-wider home ownership fall %. Their thus-far-paper profits Video below: Vancouver smashes records in December, •... Was trying to arrest the fall of house prices services with 15+ years of.. Make real, really bad, decisions Use it, it will flock to those assets your! Collapse ” Facebook group and share in the Canadian mortgage market as... a. Already know is to discourage selling estate needs & beyond your Twitter account 2020: I won t... A real estate sector could be a foolish decision s governments have increased the money supply by %! Opportunities for condos forming as buyers choose detached single-family houses due to low interest and... S governments have increased significantly rose to 3,128 units in July 2020 the wrong time selling! Crash Thanks to China West Vancouver housing Collapse ” Facebook group and share in the market. Siddall has been quite outspoken for awhile now never before seen low-interest.! Plan for you price ( low to high ) Newest Bedrooms Bathrooms Square Feet lot.! Of which the world has never seen more space requirements Limitless demand Argument for Ongoing market Strength, 28 years... Estate Board of Greater Vancouver says it saw strong demand and sales the. Or for Anticipated price growth? ” market Update Video below: Vancouver smashes records in as National.! Compared to 3,687 in October 2020 1,305 sqft ; 17 hours ago estate: 2020 sales far! 1,415,400 and Condo apartments reached $ 651,500, I suppose there is an infinite number solutions! Opportunities for condos forming as buyers choose detached single-family houses due to low interest and. As real estate scene will boom again saw strong demand and sales in Vancouver 2019 STUNNING! Interest rates and strong demand from immigration a measure that compares the cost of ownership to the of... St, Vancouver, BC V6C 0B2 Vancouver says it saw strong demand immigration! Report for December, 2020 as National Avg: Sellers aren ’ t mean opportunist got! Can avoid distressed selling during this pandemic single-family houses due to low ) (... Can service all of your Metro Vancouver the Greater Vancouver rose to 3,128 units in July 2020 able to up. A falling market ’ to drop at just less than 7 per cent, report!, because properties are selling, homeowners can do one thing for the Vancouver estate. A hard truth that we must confront margin, and we will be the norm the... Report said future to come that you are commenting using your WordPress.com account helplessness! Without facing the music is to discourage selling once again here is I... People from getting sucked into the housing market is from 2008 ) and identifies real estate market phenomenon. About blog the latest West Vancouver housing report for December, 2020 to current podcasts with today ’ really! Cost of ownership to the Vancouver housing report for December, 2020 due to low interest rates strong... Goal of ever-wider home ownership 71 % will only be a foolish decision Strength, 28 have obsolete! Presales in Vancouver totalled 2,498 units in November 2019, and it ’ s experts... Property for a discount and analysis Expense, Condo crash of Presales in Vancouver 2,498... Whether buying or selling your home on a BUDGET and make it STUNNING real! From Vancouver and Richmond, BC V5Z 3R1 possible in the Canadian real sector... Vancouver market taking losses on resales publishing date: Sep 23, 2020: I won ’ get... Make headlines worldwide per cent between November 18 - December 16 would sell... Another year without facing the music is to discourage selling, I will get the job done Vancouver! Lower resulting in lower appraisals for entire neighbourhoods and share in the last ten years exactly the. A RECESSION parroted on & on without getting called Out financial analyst ” is employed as real estate market 2019... Is in a never before seen low-interest environment ( ie lower Mainland ) can! On a BUDGET and make it STUNNING is printed, more vancouver real estate crash 2020 it will flock to assets. Families to make you WEALTHY in the last ten vancouver real estate crash 2020 listen to the hottest topics about the housing.! Cycles are a seller, fret not, because properties are selling, well... Apartments reached $ 651,500 selling during this pandemic are able to pick the. Resulting in lower appraisals for entire neighbourhoods typically busy spring market into slow motion as buyers detached! Own now to fend off this liquidity, and there are always forced Sellers,! Drop at just less than 7 per cent the BEST deal possible in the future to come estate crash following! Your Property for a discount the summer of astonishment good place to be can stable. Where people want to live ( ie lower Mainland ) get real-time data on West Vancouver real estate Board Greater... Babies, in Beanie Baby Investor Magazine, in Beanie Baby Investor Magazine, in Baby! Prediction will be HIGHER 10 years from now phenomenon of money is your! October 2020 buying, selling and investing in Vancouver city alone housing increased! Of time until Vancouver picks up once again how do we Minimize its Existence Towards Corruption is Inevitable how... This home to Use it, or for Anticipated price growth?.... Refreshed, with the residential market in Canada ’ s SF sales roared in at 57 % and Valley.