|Sizzling Dec 2009 Vancouver Sale/List Record May be a Bubble Milestone in Canada’s Housing History|
Jan 05, 2009
Sizzling Dec 2009 Vancouver Sale/List Record May be a Bubble Milestone in Canada’s Housing History. There is huge demand for real estate and prices seem to be climbing continuously. However it is important to remember a lot of things that go up must sometime also come down. Real estate is sometimes like a yoyo.
It has been an unbelievable and perhaps an unprecedented ending to 2009. The local real estate market has been absolutely sizzling. The interest rates, of course remain at their ultimate lowest and ....well the rest will forever be history! Prices are high.
I understand that what is happening is that many, many people are concerned that they may never get into the housing market. They may even believe that this might be their only chance, their last chance, to get into the game. I do not think this is actually true. Better opportunities may be just around the corner.
For most people real estate is the biggest investment of their lifetimes. It is important to remember that good investing is all about good timing. If the current Sale/List Record represent a bubble investing in real estate, to rush into buying home now may not make good sense.
Look at the following information. These statistics talk about end of year 2009:
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