It's going to get ugly is in the valley & the outer economic rings. When liquidity leaves it makes those markets ^illiquid. Example seller, suddenly Sally lowers her price then you have to, someone else down the street or in you condo project drops their price (it spirals down).
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Five examples of Metro Vancouver homeowners losing big in a plunging marketHere’s a look at five examples highlighted on Twitter of homes in Vancouver and West Vancouver where the owners took a bath, or are at least one foot away from a nasty fiscal scolding. Most of these are not “homeowners”. They are flippers. Media is starting to really turn on flippers and VANRE which means it's finally time to get on with the crash. You would never see this on the MSM, the fine gory details. What gives ?
Source: VancouverSun - 🏆 49. / 61 Read more »