Don't expect price drop any time soon, say experts
February 21, 2011
VANCOUVER (NEWS1130) - With interest rates at historical lows, a top real estate expert has a bullish outlook for our country's housing market.
Vancouver may be one of the most expensive cities to live in, but President of Coldwell Banker Canada John Geha says there are still some affordable homes out there if you do your research.
"It is a healthy market for the first-time buyer. I think with Finance Minister [Jim] Flaherty's decision to tighten credit, you just have to be prepared. You have to have the right council with your lawyer, your bank and your real estate professional and make some decisions. Are you going to save money? And what price range are you going to be buying in?"
In its latest report the CMHC says Canadian housing prices will move in line with inflation for the next two years.
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