native speakers know that bloomberg is an American oriented company
Sorry, ETB. Just the facts, madam.
" The Good The Bad and the Ugly
By Steve Saretsky
The market hasn’t gone to complete shreds. The entry level condo market is still chugging along. Whatever entry level is for your specific area. In Vancouver that’s the sub $600,000 market, in Richmond that’s the sub $400,000 market. These markets are still relatively “affordable” and thanks to Christy Clarks brilliant first time home buyers loan, it could keep pace...
The bad, Vancouver townhouses. Perhaps no surprise, as detached houses in the area become cheaper the incentive to pay almost a million dollars for a townhouse in Vancouver is beginning to make less sense. At the midway point of January there have only been a combined 5 sales in Vancouver East and West. For comparison, there were 22 sales in the same period last year. Should townhouse sales continue at this pace it will mark a 76% drop year over year...
Vancouver West single family homes. Perhaps this comes as no surprise, since these homes are out of reach for 99% of locals, and have surged by 48% over the past 2 years. A price correction seemed impossible to avoid. Based on my conversations with prominent Realtors who focus on that product they tell me prices are down 20% from the peak. This is not reflected yet in the benchmark price..."