With home ownership having undergone a volatile transition phase in terms of both volume and demographics, there are now emerging trends that explain what the new generation of homeowners are worried about when it comes to their property decisions.
As was expected by many market forecasters, the B20 Stress Test implemented as a part of Federal level mortgage policy has had negative repercussions throughout the housing market.
This is especially true here in British Columbia, with the BCREA observing that residential unit sales figures in March saw a decline of 23% from the same point last year. These figures, coupled with a decline of 5.4% in residential house prices in BC in the same period, painting a stark picture of the current housing market in the province.
