|
Written by Administrator
|
|
Monday, 09 February 2009 15:31 |
|
This article is from the Spring 2008 BC Real Estate Association Housing Forecast. Now, they are predicting a 13% fall in prices in 2009 alone.
Their 2008 prediction:
2008 prices up 9%
2009 price up 4%
Total increase to end of '09 = + 13%
Where we are NOW predicted to be at end of 2009:
2008 decline say 13%
2009 forecast decline 13%
Total decline from peak to end of 2009 = 26%
So we have a swing of 39%.
All of this just shows us that markets are extremely unpredictable and that we need to apply our own common sense to them.
BC Housing Markets to Moderate
BCREA Releases Spring 2008 Housing Forecast
Vancouver, BC — May 6, 2008.
BC home sales are retreating from historically high levels, according to the British Columbia Real Estate Association's (BCREA) spring Housing Forecast, released today. The report analyzes the British Columbia economy and housing markets, including detailed forecasts by home type of the province's 12 real estate board areas.
|
|
Not a Sub-Prime Opportunity |
|
Written by Administrator
|
|
Monday, 05 January 2009 02:16 |
|
Following the credit crunch and crashing US economy, 2009 is looking to be very bleak. With the sub-prime mortgage crisis now in full swing, the housing market has been flooded with properties and declines in stock values are leaving little in the way of consumers. Nation-wide, Americans are finding themselves without sustainable debt or buyers. With billions in write-offs, banks are now in possession of housing that is worth a fraction of what it was purchased for. An insurmountable credit vacuum has left the United States in a state of decline, and to no surprise, trillions are being lent to cover the losses.
|
|
