Want a conversation stopper at your next party? Just bring up the impending real estate meltdown in Vancouver –the one where house prices implode.
You’ll be mocked and told how interest rates are at historically low levels and you’ll hear all about those swarms of filthy rich Chinese flooding our borders. Then, they’ll tell you that thanks to the feds and the CMHC, pretty much anyone can over-extend themselves with 5% down and 35 years to pay it back.
I went onto ClickRealty’s website and searched for single family homes in Vancouver between $1.5 and $2 million. Can’t do it—there are too many. So, instead I just clicked on houses at random.