It is almost the weekend and I hope you people out there have something fun planned for the Halloween weekend. I certainly have as any excuse to get dressed up and look "horrific" is most desirable.
If you are still out there and sitting back wondering when the Vancouver bubble is going to end when Europe and the US fall apart, dream on! This week the Bank of Canada are holding their benchmark overnight rate at 1% and are likely keeping it low for the foreseeable future, even as far ahead as 2013 Wow!
So what does that mean for potential buyers all sitting on the fence. It is time for you to get off your butts and get in their now. With such record low rates and a huge amount of property on the market it is a great time to negotiate a good price and take advantage of some incredible rates. This won't last for long as the world sees a turn round in it's fortunes. The Europeans announced today some new packages to avoid the default and bankruptcy of struggling economies. The US is even looking at finally taxing the super rich, who by the way many of them wish they would as they can comfortably afford it and are very concerned about the state of the nation. This could mean the long but positive recovery in balancing their affairs.
It is not going to be easy and there are no quick fix solutions here. However if there ever was a time to buy anywhere, it is right here right now. Especially with a market that is so favourable to buyers right now. And that is a rare thing in Vancouver. So all advice out there is: DO IT. DO IT NOW!
Happy Fangcouver!
