Is The Victoria Real Estate Bubble Bursting?

[Rickson9]

As an east coaster this was news to me. For anybody who might be interested, here is the video.

http://www.youtube.com/watch?v=wwzX7gm2GPI

Additional news:

"Only Vancouver and Victoria saw a greater drop in MLS sales than Calgary in August compared with a year ago, according to the Canadian Real Estate Association. The national association of realtors reported today that sales of existing homes in Calgary fell by 32.8 per cent to 1,562 units during the month while the average sale price declined by 0.8 per cent to $385,712." - Calgary Herald
http://www.calgaryherald.com/business/Calg...=megadrop_story

 

[Rickson9]

For those who may be interested. Victoria, BC real estate continues it`s downward slide as sales hit a 2 decade low.

http://www.youtube.com/watch?v=DpTMV1IMRfw

 

[keirajohnson]

What I find interesting is the people who can make huge amounts of money in a recession. I think its easier said than done, but there are people who succeed in these times, and people are those whose liquidity is heavy and large cash reserves. There will be some bargains, especially in real estate over the coming months, for sure.