This is not great for owners, especially highly levered ones, but it’s essential progress toward restoring affordability and investment value in residential real estate. Mean reversion is a process. Further price declines are likely in the months ahead.
Another sign Metro Vancouver’s once-hot housing market is cooling off can be seen in new data from Royal LePage, which shows a massive drop in the price per square-foot for condos. Here is a direct video link.
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