Metro Vancouver Housing Prices Expected to Climb Another 25%
This Year
By Mike Lloyd
Updated: June 2nd 2016
In an
already extremely expensive real estate market, it’s hard to believe that it’s
only going up from here. Living in Vancouver and seeing houses being sold for
so much money is a daunting feeling to watch. It’s expected that housing prices
all around British Columbia will be increased by the end of this year. In the
Greater Vancouver market, it’s estimated that by the end of this year, the
average house will cost a mesmerizing $1, 125, 000. The housing market is
beginning to get out of hand and is making it very difficult for people to be
able to afford houses. Cameron Muir, chief economist for the British Columbia Real Estate Association,
believes that the increase in price is “the result of very strong consumer
confidence and population growth.”
As someone who currently lives in
a home in Vancouver with my family, the steadily increasing real estate market
makes me nervous for what I’ll be able to afford when I move out. As someone
who is getting to the age of moving out within the next couple years, it’s an
alarming thought to not be able to afford a house nearby and have to question
where I will be able to live. The rising prices of houses in Vancouver and al
around BC make me worried for where I will be living in my future
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