Hi Darleen,
I'm in B.C. every day - I live in LaLa Land. And I agree - RE prices have topped and dropped. Causes are multiple - recall of Asian money, collapse of local employment in basic industries, economic scare talk, etc. Nonetheless, over a ten year span, while gold dropped from $450 to $285, B.C. RE prices today remain multiples higher, despite topping and dropping 25% from peaks. So for Asians seeking to preserve their capital, RE still has outperformed gold.
I suspect that smart Asian money may figure that the present currency turmoil may be creating an opportunity to return money to Asia to go bargain hunting. That could substantially damage prices of upper bracket B.C. Real Estate over the coming few years.
Therefore, I am willing to accept that, from here, gold could outperform B.C. Real Estate.
RH |
