Real Estate doesn’t work on emotions. It functions like other businesses do, with logic and dynamics.
It’s easy to speculate and hope that the housing market will crash, or the bubble will burst before you buy. But this is only detrimental for you in the long run.
Activity in real estate is dictated by mortgage interest rates, inflation, and the effect of supply and demand. If the real estate bubble has not burst in over 10 years, then it’s not a bubble, it’s a foundation.
In British Columbia, especially the Lower Mainland, real estate has always been hot and it isn’t something that will change easily. Unless something large and drastic comes out of the blue such as if immigration stops.
However real estate prices will always outpace inflation in the long run, which is what makes it a great investment.
Don’t let emotions run your investment decisions- or find someone to make those calls for you.
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