Many are wondering whether our market boom has passed. Today I would like to get to the bottom of this by taking a critical look at current conditions.
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It seems that everyone has an opinion on the current state of real estate. Today I would like to address one much-disputed question in particular: Is the boom over?
Some say yes, while others say the sky is falling. But what is really going on? Let’s get to the bottom of this.
First, let’s look at how we got here. At the beginning of the year, new lending rules implemented at a federal level diminished the average person’s borrowing power by around 25%. Shortly after that, our new B.C. government unrolled their affordable housing plan.…