The Vancouver Sun reported today that Housing prices to drop 20 per cent in B.C which is a very powerful headline but the big question is who does that really affect? Investors, speculators and flippers will be the largest groups negatively affected. However, first-time Buyers, move up buyers and out of province buyers will be affected in a very positive way-they now can actually afford to buy. Once again Vancouver's middle class can afford to live here. This second group also makes up a much larger segment of Greater Vancouver then investors, speculators and flippers.
When you read the paper don't get sucked in by the shocking headlines, instead ask yourself "how does this affect me?" You might be surprised.