"It must be something political or social because it certainly has nothing to do with economics." [Ward McAllister, president of Ledingham McAllister Properties] said.
He forecast low-interest rates for the foreseeable future, which will translate into continuing sales.
"There is no bubble in Vancouver," [Richard Wozny, of Site Economics Ltd.] said.
McAllister had advice for prospective homeowners in their 20s who are questioning whether they should wait for prices to come down: Don't wait, borrow from mom and dad. And he warned against selling, hoping to get back into the market later.
"Affordability is one of the main concerns in this market and I think will continue to be over the rest of my life."
Noted. Also some whining about the chaos in the sales tax. "Any of our product that's $525,000 and over, which is the threshold, is sitting." For the record, 525k/68k is 7.7x median income.