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Vancouver Housing Crash Coming by Summer 2017? — My Prediction

1,861 views · Published 29 September 2016 · 5:57 · Indexed 1 November 2026

Channel: Mike Martins · 2016 · People & Blogs

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One of the questions people keep asking me is: When will it be a good time to buy a house in Vancouver again?

Obviously nobody can know exactly where a market will go, and I'm not a housing analyst. I'm looking at what I'm seeing on the ground, following market trends, watching government policy and trying to form my own forecast.

And here's my prediction.

I think we're going to see a major shake-up around Christmas 2016 and into the New Year. I'm already seeing more homes appearing for sale around Vancouver, sometimes several properties within the same small area.

But I don't think early 2017 will necessarily be the bottom.

I believe some buyers could start jumping back into the market around February, March and April thinking they've found bargains. My concern is that those buyers could discover that prices have further to fall.

I'm looking toward June or July 2017.

By next summer, I believe Vancouver could become a much better buying market, with substantial price reductions and potentially some genuine bargains appearing.

I'm also watching condos very closely.

Despite hearing repeatedly that condos are still going up, I think the condo market could be one of the first areas to get hit. I'm hearing about people trying to transfer or sell their positions in pre-construction properties, and changing rules surrounding foreign investment could create additional pressure.

Again, this is my personal forecast. I'm not telling anybody when they should buy.

I've taken losses on investments myself. That's part of investing. Markets go up and markets go down, and sometimes one of the best financial decisions you can make is simply refusing to participate when the numbers don't make sense.

I'm going to continue watching what's happening here with boots on the ground and reporting what I see.

My target right now: summer 2017.

Let's come back to this video next year and see whether I got it right.

Mike Martins Channel — September 2016

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