Are Buyers Doomed?

January 2, 2018

 

Click here for the Article from CBC.ca -

Hoping to buy a home in B.C.? Sorry, it's not likely to get much cheaper - click here for link

 

Be careful if you only read the title of a story. It can mislead you, especially if you aren't planning to read the article.

 

Take the story from CBC.ca in the link above. The title of the article gives you a sense that it's going to be harder to buy a home in the near future. However, when you read the article, it is mostly a discussion about how prices are expected to go way up over the next 50 years.

 

Now of course prices will be higher in 50 years from now. No matter how many times the market crashes, housing prices have rebounded and increased to new heights due to the simple fact that land becomes more expensive when more people want it. As long as a city continues to grow in population, buying land is typically a very good long term investment.

 

Granted, the entire story wasn't just about 50 years from now. There was one quote from this article explaining what will happen over the next year: '"The best guess for where prices are going to be a year from now is about where they are today," said Tom Davidoff, associate professor at the University of B.C.'s Sauder School of Business.' 

 

This is actually good news for buyers!

Everyone knows prices have gone up every single year since 2009, so to assume prices are going to stay roughly the same for an entire year is MORE of a story than prices rising over 50 years. 

 

Moral of the story: don’t stress over deceptive news article titles.

 

 

 

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