Vancouver real estate cycle changes

I've read an interesting article on Vancouver real estate - no wonder I find it interesting, I work in the Vancouver real estate business.

The piece was published in The Vancouver Sun, and gives a novel approach to the recent changes on real estate market in the Metro Vancouver area.

An economist interviewed by the paper, Cameron Muir, says that the overall market cycle has run its course. He thinks that  there was no bursting housing bubble, but believes there has been a change in the cycle.

"At the end of a market cycle you will see home prices remain flat, or even come off a few percentage points a year, until the next cycle begins," he said in an interview, adding that we are looking at this particular situation right now.

There are more interesting and telling figures in the original article so it's worth checking out.

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