experts: real estate column Wednesday, November 10, 1999

THE LONG TERM FUTURE OF HOUSING IS STRONG

By Ozzie Jurock

At last week's annual CMHC housing conference speakers forecast some 18,500 new home starts next year (up 23% over 1999), international immigration to add 5,500 people to BC and international immigration to add another 38,000. This year's anemic population growth (.7%) is reported to be well down from the 2.5% experienced annually through most of the nineties. CMHC Analyst Middleton also projected a "large pent-up demand for housing in Vancouver locally and the province at large, but consumer confidence to be still weak." "The 'tough times' for the Fraser Valley are also behind us," said Cameron Muir (also a CMHC analyst) "the over supply of condos is being depleted..." Whistler continues to be the strongest market in the Sea to Sky corridor. Peggy Prill (also a CMHC analyst) forecasts an average price of $850,000 for a single family home next year (!) in Whistler ... She also reports a new trend at Whistler: "The American Buyer". Mortgage rates are forecasted to stay in the 7.6% to 8% plus range for 2000, versus the 6.7% to 7.8% average (averages don't show October 27th's 8.25%) for 1999. Generally "the market has turned around" and is poised for further sales increases. JREI agrees. For a more detailed review of all of the speakers look up this month's JREI newsletter.




E-mail this story to a friend    Print this story   Save This Page to del.icio.us

     
Recent Articles by this columnist:

Debunking the Myths of Yuletide Home Selling
Friday, December 19, 2014


Mortgage Interest Rates - Whither Do They Go?
Friday, December 19, 2014


Should You Sell Your Old Home Before Buying a New Home?
Thursday, December 18, 2014


What's a cap rate anyhow?
Saturday, March 29, 2014


Developers ignore Feng Shui at their peril
Friday, November 29, 2013


All articles by Ozzie Jurock

Related Links:

Related Articles:

Have you tried these JUROCK.COM FEATURES?

 

Newsletters

Subscribe To Our Newsletter

Check out this week's Jurock Real Estate Insider Special deal


'MONEY TALKS' HOT PROPERTY

Gibsons waterfront


'MONEY TALKS' HOT TIPS

Don't Worry About Greece ... Worry About The EU


LATEST OZZIE JUROCK articles


LATEST JUROCK.COM CONTRIBUTOR ARTICLES



   Privacy | Security | FAQ | Site Map | Masthead
Contact Us   
Copyright © 2014 Jurock Publishing Ltd. All rights reserved   Jurock.com