Vancouver Real Estate Olympics 2010
Pre-Olympic Vancouver Real Estate Market Update
February 10, 2010 by Laura Howren · View Comments
We are days away from opening ceremonies for the 2010 Olympic Games here in Vancouver BC. The city has never looked so beautiful! Within all the buzz and excitement lies a question that Vancouverites and many others around the world are speculating; “What effect will the 2010 Olympic Games have on Vancouver Real Estate?” Now this is a question that no one can answer as no one can predict the future.
Opinions are very divided. To be honest, I could personally argue all possibilities. It comes down to the basic economic principal of supply and demand. A few questions to ask yourself (amongst many) would include:
1. Economy:
How will the state of our economy post Olympics affect the housing market?
2. Foreign Investment:
With the spotlight on Vancouver will we see an increase in foreign investment?
3. Interest Rates:
What will the bank of Canada do with interest rates? Will the cost of borrowing increase significantly?
4. Pricing:
Many people are holding off with the dealings of Real Estate in Vancouver until after the 2010 Olympics. Will this bring a rise in supply or demand? Or balance eachother out keeping prices stabalized?
Obviously none of us have a crystal ball and so it’s impossible to tell what exactly will happen. It should be a very interesting year for us here in Vancouver though, and I’ll be sure to keep you posted with occurances and events as they come along.
