Quote:
Originally Posted by Winsor_Pilates
I don't think that's fair. Most people in Vancouver attribute very little of the rising real estate sales / prices to the Olympics. The main factors have been interest rates and a slow down in new construction reducing supply. I don't think even 1% of my buyers in the last year were heavily motivated by the Olympics.
Most of the developers I work with aren't banking on the Olympics either. The industry will pretty much shut down during it, and no one is expecting a huge influx of Olympic tourist spending on Real Estate. People seem to be quite cautious of banking on the Olympics and I think that's pretty smart.
|
Both Bob Rennie and the City of Vancouver disagree with you:
City Hall is banking on the real estate market staying hot through the Olympics and rich tourists wanting to buy in.
Note the slogan "Own the ultimate 2010 souvenir" plastered all over the village .