Vancouver real estate market beginning downturn that could last 2 years, expert says

from the Royal Bank of Canada that the country, B.C. and Ontario in particular, will see big price drops next year.

"By comparison, we expect activity and prices to be more resilient in Alberta, where local markets have more catching up to do following a prolonged slump before the pandemic." Paul Sullivan is a B.C. property tax expert and Ryan LLC principal who leads the Business Tax Alliance, a partnership with B.C. Business Improvement Associations. He said the market is changing in an almost perfect storm of circumstances.

Sullivan said even though the price of housing is coming down, it won’t help affordability. Record high inflation and interest rate increases mean buyers can afford less, and it’s getting harder to build.

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Housing market slowing rapidly amid interest rate hikesICYMI: Housing market slowing rapidly amid interest rate hikes — via financialpost Housingmarket RealEstate Mortgages Economy financialpost File this under 'Huh, go figure.' financialpost Not the narrative coming from any RE co.
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Housing market slowing rapidly amid interest rate hikesICYMI: Housing market slowing rapidly amid interest rate hikes — via financialpost Housingmarket RealEstate Mortgages Economy financialpost Save your down payment for when it collapses then interest rates go down again! You'll have your opportunity
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