Vancouver housing at its affordability limit

There is a very interesting article I read in BCLocalNews. Its author, Tom Fletcher says that even if real estate boom has finally cooled in B.C, property values will not lose ground as they have in the United States.

Vancouver remains an attractive place to move for work or retirement and more B.C. sellers continue to try to cash in while fewer people are buying as prices have moved out of their affordable range, the article reads.

Small price drops have been seen in the Fraser Valley and Metro Vancouver in the last two months, Tom Flatcher writes, but year-over-year prices are still up by single-digit amounts.

"Price declines in Vancouver and the Fraser Valley look to continue in the near term," according to Credit Union Central B.C.'s latest weekly economic briefing. "

You can find the original article here or read more Vancouver real estate news in my other weblog.

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