My First Real Estate Prediction

[captain_bonk]

I have to get this out now because the Major Domo Real Estate Guru and owner of a real estate office I work at will be soon flying in from Santiago for Christmas. He was the one who told us last year to sell our houses by May of this year. At the time no one would have believed it except that it came from his mouth and this office knows to believe

Comments

[paris_of_priam]

Demographically speaking, the Baby Boomers are going to start retiring en masse in 2010, which means a lot of them will be selling their places in the city, and moving out to either the suburbs, or the rural areas where the cost of living is lower. So, for demographic reasons alone, I think real estate prices in Vancouver (and the cities in general) will either stagnate, or only go up at a rate that's less than inflation. I predict real estate prices in Vancouver will either stagnate or drop a little (but not much), while real estate prices in places like Kelowna and Victoria will go up, since places like that make nice retirement destinations.

That's my two cents, anyway.