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Strategies & Market Trends : Ride the Tiger with CD
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To: Fishfinder who wrote (93457)9/28/2007 1:11:37 PM
From: Proud Deplorable  Read Replies (1) of 313108
 
BTW when the economy slows and the bubble bursts land prices will most certainly come down and so will wages and building materials. It's happening in the US and it WILL happen here in Vancouver.

You say that 200.00 is the average current price? Sorry but building materials have not increased that much, labor has, and so just because the market has been hot causing the price per sq to inflate doesn't mean its the true value, only the current asking prices, like commodities. Notice that car makers will now cut their wages in Canada? Wages have to come down with a high dollar or the country loses any competitive edge. Also prices of almost everything will have to come down about 25% because of the dollar parity. So, building materials and wages are coming down now, thus home prices will come down as well. There is LOTS of undeveloped land in the lower mainland.
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