Will the bubble burst? When will the bubble burst? Is there a bubble?
The national media in Canada seems to enjoy the doom and gloom scenarios. So much ink is wasted on fostering fear, it's surprising that there are still thousands of active buyers and sellers in Vancouver.
Although not immune to the vagaries of the international money market's machinations (remember 2008 sub-prime mortgage fiasco?), Vancouver's Real Estate market continues to thrive, and shows no signs of an abrubt change in price.
There are so many factors that support our housing prices, it's not surprising that we're one of the most desireable places in Canada to live. Almost all new immigrants to B.C., and transplanted Canadians, make their way to the lower mainland. Perennial favourite of top 10 lists and most liveable city lists, Vancouver's natural beauty is known world wide. Factor in the finite amount of buildable land, and you have the perfect recipe for sustained pricing.
There will always be minor fluctuations in the market, but long term there is no better investment than Real Estate.
Take the long view! As Warren Buffett is fond of saying; "Buy, Hold, and Prosper"! The best way to get that long view is to check out page 8 of the most recent sales stats from REBGV.
If there is a Real Estate bubble in Vancouver, it's iron.