The Central 1 Credit Union reported that, although B.C. market would slow down, and sales activities would drop slightly, there is no indication of real estate bubble.
According to the report’s author, Brian Yu, the low interest rates and the limited supply of land would keep driving the values of homes up. Furthermore, he mentioned the speculation of homes account for only 2~3 per cent , which poses no threat to the market. Brian’s report is backed up by Canadian Real Estate Association’s monthly report, which indicates that 70 per cent of all local markets are in balance.
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