Quote:
Originally Posted by Winsor_Pilates
I wouldn't consider that a major impact on the Vancouver market at all.
The biggest reason for Vancouver's slow down is the lack of wealthy immigrant money coming in this year.
Last year, we had a large amount of luxury homes/condos being purchased by wealthy immigrants, mainly from China.
This year, they're not active.
Iran hass also tightened the ability to move money out of it's boarders and has a low dollar; which has hurt that large wealthy Vancouver ethnic group as well.
This is why the detached housing market and luxury market in particular is way oversupplied compared to most years, but the entry-mid level market isn't as far off.
|
I never thought of that. is this your opinion or do you have real numbers for this.
That is quite interesting.