After reading this article I thought this was rather counter intuitive. After all, I thought we were in a recession. However, If we delve deeper into the inner psyche of your typical Vancouverite turned real estate expert, these may be the reasons for the increase:
1. HST is coming
2. The Olympic bum rush continues
3. Low mortgage rates
4. 1st time home buyers are unaware of the pending bust post Olympics
5. There is more drug money out there than the estimated $10 billion marijuana industry. Crystal Meth anyone?
6. Wishful thinking
7. Family money
8. International money
Which begs the question, is this the biggest real estate bubble ever or is this merely as simple as supply and demand?
Perhaps our “expert” UD could chime in.