BMO Predicts Price Drop

(May 11, 2012 )

BMO Bank of Montreal Mortgage Expert Carolyn Heaney predicts that in the next few years, Vancouver housing marketing will begin to fall. 

She describes the market softening.  With the last 6 months seeing prices jump 163%, we are due for a drop.  Sales since the beginning of the year are 20% lower than the same period last year.

Other reasons why Carolyn Heaney believes our housing prices will begin to fall are:  Uncertainty of long term mortgage rates, overbuilt condo market, and foreign investors looking at other less expensive cities to invest.