Vancouver Condo Meltdown? Canadian Housing Bubble Burst? Financial Armageddon? Mortgage Renewal Crisis?

Clients sometimes send me articles and social media posts on Vancouver real estate and Canadian housing trends. While there is some great content out there, most of its clickbait designed to elicit a reaction and sell ad space.

Let's cut through the noise and media hype.

Firstly, its important to focus on the sources that really matter; the Vancouver Real Estate Board, Rennie Market Intelligence, and balanced insights from the Globe and Mail.

Secondly, after a fairly robust spring market, typically the market takes a breather in the summer months as activity slows. This is all part of a typical market cycle and not indicative of financial armageddon.

Thirdly, the Bank of Canada is now firmly into its rate cutting cycle, with its next quarter point cut likely to come on July 25th, and two more rate cuts by the end of 2024. As inflation comes back down to target, we should see some easing in mortgage rates. This will coincide with the fall market, which is typically fairly active.

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