Comments on: An Interesting Solution To Unsustainable Housing Prices and Rental Rates Part 1 http://www.burrardstreetblog.com/2008/02/23/an-interesting-solution-to-unsustainable-housing-prices-and-rental-rates-part-1/ Taking A Closer Look At Business, Real Estate and Life, In Vancouver & Around The World Mon, 08 Sep 2008 07:59:54 +0000 http://wordpress.org/?v=2.3.2 By: Anonymous http://www.burrardstreetblog.com/2008/02/23/an-interesting-solution-to-unsustainable-housing-prices-and-rental-rates-part-1/#comment-74 Anonymous Sun, 24 Feb 2008 18:44:18 +0000 http://www.burrardstreetblog.com/2008/02/23/an-interesting-solution-to-unsustainable-housing-prices-and-rental-rates-part-1/#comment-74 <b>Like it or hate it, the price of real estate in Vancouver is not going to fall significantly and I do not take issue with that fact.</b> What would you consider a 'significant' fall in prices and how can something that may or may not happen in the future be a 'fact'? Previous cycles have seen Vancouver real estate prices fall between 5% and 50% - what makes it different this time? If you bought the benchmark house in Vancouver today and had to sell at 5% down that would be about a $35k loss. Just for comparison cities like Miami, San Diego, Las Vegas, etc are seeing losses greater than 15% off their peak prices in just a couple of years. Like it or hate it, the price of real estate in Vancouver is not going to fall significantly and I do not take issue with that fact.

What would you consider a ’significant’ fall in prices and how can something that may or may not happen in the future be a ‘fact’? Previous cycles have seen Vancouver real estate prices fall between 5% and 50% - what makes it different this time? If you bought the benchmark house in Vancouver today and had to sell at 5% down that would be about a $35k loss. Just for comparison cities like Miami, San Diego, Las Vegas, etc are seeing losses greater than 15% off their peak prices in just a couple of years.

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