Big 'leaky condo' supreme court case here in BC recently - cle.bc.ca
... kind of funny at one point, the judgment specifically states that it is reasonable for the homebuyer to expect the rain to be kept out -g- .... well on the BC coast that's funny
Real estate here is actually showing signs of turning up from a trough, lowest point probably one year ago ... but it was really beaten down, and hasn't recovered much ..... it could recover more if Washington DC corruption would abate and BC lumber could be exported without hassles and payoffs ..... in some parts like Victoria prices have definitely firmed and there is building going on again
The real estate cycles here i've followed for near four decades, they tend to follow cycles back east, what happens is somebody in Calgary or Markham or wherever finds their house has appreciated to where they can retire early, so they move to the coast, buy a house for a third as much and live off the difference plus pensions et al, throwing away their snow shovel because hey it's the banana belt of the Great White North and while it has been known to rain 'you don't have to shovel it', then one day it does actually snow so they go out and buy a new snow shovel and this helps to stimulate our economy, so that's good .... all this happens following economic cycles back east of course, and there is a lag to it, real estate can be quite crashed back there and we're still getting inflow, or it can be rolling back east and we have yet to feel the effects, not wise to hold one's breath either as it can take a while
There are other local factors of the economy, but migration tends to augment them greatly and follow roughly the same wave form ..... i don't see a crash coming here, we've had one and are now pulling out of it, lord willin and the crick don't rise |
