Vancouver Condo Real Estate Video Blog #677 - July 7, 2011
Vancouver Condo Market Wont See Huge Price Increases Until...
Ian Watt video blogs about how he believes that we won't see huge price increases in the Downtown Vancouver Condo Market until we see the transfer of wealth with the passing of the Baby Boomers. When the Baby Boomer generation starts dying and transferring cash to the younger generation then the unattainable condos in Downtown Vancouver, for most buyers, will start to become in reach. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs. Please note that opinions, real estate practices, prices and data always changes over time, so please keep in mind the date when this video was published as the information could have become irrelevant over the past days, months and years. Copyright iWatt Media © All Rights Reserved 2011 www.iWatt.ca .
Ian Watt: Hi good afternoon it's Ian Watt in Downtown Vancouver. Of course in the Downtown Vancouver condo market in 2004 to say 2008. We saw jumps and price increases that will probably never see again for a long time or maybe never ever see like that ever again. Prices doubling basically, it was crazy now we've gone back to this is business as usual. We might see a few percent increase here and here and here but just natural increases but I think this is what were gonna see for awhile. In about ten years time we'll probably and I hate to make predictions but I don't see anything changing for a long long time but in ten years time when the emptiness or sorry the baby boomers start dying off and then we see a big transfer of cash to the younger generation then we might see an increase in prices because people are just gonna get a whole lot of money transfer to them and spending that extra hundred thousand, two hundred thousand on the property they really want in Downtown Vancouver won't be a big deal but until that time happens I don't think were gonna see too many changes unless something happens that we cannot just see in the future. But I think it's business as usual probably at least until 2015. My name is Ian Watt and if you have any questions you can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!