Having said all of that, a lot of clients still either want, or can afford, to buy condos. The recent good news is that a study carried out by Genworth (one of the providers of mortgage insurance-along with CMHC) has concluded that there will continue to be a very high demand for condos and that the prices will keep climbing....so, at least in the short term, it may be possible for buyers to get into the market in a condo and still do fairly well in the profit department! I am still skeptical that significant gains can be made on condos in a normal market (the last 3-5 years has NOT been normal) when compared to the gains obtainable through land purchases but maybe I will be proven wrong!
Land or Air what to buy in Vancouver Real Estate?
Blog by Patricia Houlihan - Personal Real Estate Corporation | February 21st, 2007
Having said all of that, a lot of clients still either want, or can afford, to buy condos. The recent good news is that a study carried out by Genworth (one of the providers of mortgage insurance-along with CMHC) has concluded that there will continue to be a very high demand for condos and that the prices will keep climbing....so, at least in the short term, it may be possible for buyers to get into the market in a condo and still do fairly well in the profit department! I am still skeptical that significant gains can be made on condos in a normal market (the last 3-5 years has NOT been normal) when compared to the gains obtainable through land purchases but maybe I will be proven wrong!