Our Values Over the Long Term

The Vancouver housing market continues at a reasonable pace.  Often I am asked why and will there be a major decline in prices.  I am bullish about our values over the long term.  In migration to Vancouver is expected to increase the population substantially which continues to keep rising.  On the job front, we are creating more jobs and seem to have the best employment figures for Canada…See the following quotes from Cameron Muir, Chief Economist for the BC Real Estate Association:

BCREA ECONOMICS NOW

Labour Force Survey/Building Permits – November 5, 2010

Employment in BC rose by a tepid 0.1 per cent or 1,500 jobs in October compared to September. However, BC accounted for half the 3,000 jobs added to Canada.The positive news was that full-time employment advanced 0.4 per cent or 7,400 jobs, offsetting  a 1.1 per cent or 5,800 decline in part-time employment. While employment growth has slowed, employment in the province is now just 1,700 jobs away from the record 2.324 million jobs recorded in July 2008. Year-over-year, BC employment climbed 2.7 per cent or 60,100 jobs. The BC unemployment rate edged down to 7.4 per cent from 7.5 per cent in September.

Building permits values in BC rose an impressive 26 per cent in September, compared to August. Non-residential permits climbed 55 per cent, while residential permits rose 16 per cent.