Paul Morassutti told the Vancouver Sun that for 2017 the biggest threat is the housing market which he notes was already slowing before the recent regulation changes.
He warned that if the market continues to slow, the impact on the construction sector would spread to the wider economy and “the impact on consumers of having their houses now be worth less is there’s going to be a knock-on effect to the economy. If the housing market were to really unravel in a real way, that sends up a huge red flag for me.”
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
The managing director of CBRE in Canada says that the commercial market has been mixed in Vancouver during 2016 with strong downtown office activity but lower industrial deals due to a lack of supply.