BMO Predicts Price Drop
(May 11, 2012
)
BMO Bank of Montreal Mortgage Expert Carolyn Heaney predicts that in the next few years, Vancouver housing marketing will begin to fall.
She describes the market softening. With the last 6 months seeing prices jump 163%, we are due for a drop. Sales since the beginning of the year are 20% lower than the same period last year.
Other reasons why Carolyn Heaney believes our housing prices will begin to fall are: Uncertainty of long term mortgage rates, overbuilt condo market, and foreign investors looking at other less expensive cities to invest.
She describes the market softening. With the last 6 months seeing prices jump 163%, we are due for a drop. Sales since the beginning of the year are 20% lower than the same period last year.
Other reasons why Carolyn Heaney believes our housing prices will begin to fall are: Uncertainty of long term mortgage rates, overbuilt condo market, and foreign investors looking at other less expensive cities to invest.
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