Boom in Seattle, i find that easy to believe, we're on the way to one here in coastal BC, a few hours drive to the north ... this is outside of greater Vancouver, which has its own market and has been high for some time ... parts of the Island are really picking up, they say, not just Victoria which got rolling a couple of years ago, and where you have to book building trades months in advance now ..... raw land is getting interest it hasn't seen for years
Cycles here have lagged other markets historically ... well behind those of Alberta and Backeast, and as a direct result of price increases there - folks sell their houses, come out here, spend one third of the proceeds on a retirement home, and relax on the rest .... so after those markets peak, for many months after people are still drifting in, bidding up what were very low comparative prices .... this is not the only factor involved, but it is a large one .... we have roughly a seven to ten year cycle, last peak was in '94-'95 ... i had one property tax assessment that fell around thirty per cent from there to last year, it'll be on the rise next year |
