Buyer’s market improves opportunities at bottom of ladder; HST threshold unlikely to create stumbling block for real estate newbies
Real estate pundits are starting to announce -albeit somewhat apologetically, in some cases -that the Metro Vancouver real estate market is now leaning away from sellers in favour of buyers.
Hey, there’s nothing wrong with a buyer’s market. If market balance and sharper pricing allow more folks to climb on to the property ladder, bring it on. And history teaches us market conditions in Lotus Land-by-the-Sea can shift quickly. The buyer’s market might be short-lived, a summer fling.
I have also noticed that real estate organizations believe the HST has caused some confusion among homebuyers, perhaps stalling their purchase decisions. These organizations want consumers to know there is no HST on resale homes. Hmm, I wonder if this messaging, given the increase in listings, is aimed at steering buyers to resale homes. That tactic would be way too obvious, wouldn’t it?
That would be like me promoting, say, the many benefits of a brand new home: superior design and leading-edge technology, enhanced building and fire codes, energy-efficiency upgrades, health-related features, competitive pricing and the strongest warranty in North America. I would never do that…
Written by: Peter Simpson
Date: August 14, 2010