I think your right. But I am noticing the properties that are over priced and not so ideal are sittingI'm just beginning to notice anedoctically that listings are sitting longer than the last couple of months. Can realtors confirm this?
same with what Jimtan was saying - that it's interest rates as a reason for high prices. Ignore the real facts and the problem will continue. It's just distracting from a real solution"Topped out, are we? Consider the source of this article. Various banks and the real estate sector really don't want Canadians to do anything to stop or slow the flood of money from abroad into our real state market. Of course not. And meanwhile, the Globe and Mail and other business sources are openly saying that the outflow of trillions of dollars in "investment" from China is only going to rise over the next five years. We are not "topped out" at all. It's just going to spread out. The blast of money from abroad is just going to hit other Canadian cities, folks, until we're all screaming. This is not going to stop until we kick our governments' butts hard enough that they slap sharp taxes on these foreign speculators so they quit using our housing as a stock market".
What false info? I posted the article above the banks cutting back on mortgage creation.
I posted this ...
http://www.realestatetalks.com/viewtopi ... 8&t=129574
"... Foreign investors made up four percent of buyers, according to this latest REBGV survey..."
This would not cause prices to go up 30% year over year & now 10% month over month. Locals are not buying anything over 2.5 million. I would guess in Vancouver foreign buyers make up 30% of buyers by volume and 50% by dollar amount. But, that's just my guess. But, I guarantee my guess is alot closer to the actual number than the 4% they say.Foreign investors made up four percent of buyers, according to this latest REBGV survey