Homework for the weekend.
Bob Rennie, a real estate marketing machine, starts talking at the ten minute mark and drops useful stat after useful stat.
Click here for his annual address to the Urban Development Institute
If you want talking points as to why this market, and all of BC, will continue to boom tune in. Toronto stats are sprinkled in as well.
We are on the cusp of the greatest wealth transfer in history.
Vancouver boomers are sitting on $197 Billion worth of clear title real estate.
Just imagine ten percent of that $197 Billion being put in the hands of young first time buyers.
At 5% down that would equate to $394 Billion worth of real estate purchases. Most of which needs to be built to meet new household formation numbers.
Tune in, you will not be disappointed.
Stay tuned…… ??!!! Talk about leaving us hanging sir !! Lol. This Stat has created an excitement in me ….. as a fellow mortgage broker I always look for the upper edge on deals and to try and prepare not only our clients road map to retirement/freedom … it is very exciting to note that thid current,very hot market, could prevail and actually get stronger??!! …… I want more then to just stay tuned, I want to know what this means for the average Canadian home buyer?? with a little bit of cash (well kind of alot depending where you live) and a good mortgage broker, what should be your plan to buy? And is the goal still to buy up as much land as the monopoly board allows ? ?
I hope that makes sense….if not then I am simply wondering., what do we do as buyers? As sellers?? And as mortgage brokers ??? Knowing these stats you have provided
Always curious as to what your take is my good man. 🙂
Actually the post ended with ‘tune in’, as be sure to listen to Mr. Rennie’s comments and stats. Yes you should be buying, always be buying and never be selling. That has been my take for twenty-five years, and remains so today. Own land.