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Vancouver Peak › The Peak › Quote Tracker
Tsur Sommerville Says:

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Tsur Sommerville Says:
03-06-2013, 08:50 PM,
#3
jesse Offline
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RE: Tsur Sommerville Says:
“A lot depends on where interest rates go over the next few years,” explains Sommerville. “[If] interest rates three, four, five years from now are substantially higher than what they are now then housing prices will correct.”
Sommerville adds local home values could drop even more than the 15 per cent predicted by Fitch.
“If there was to be a correction, you might expect to see a bigger correction in house prices than in condos,” he explains.
“It’s the land. Land is a bigger component of the value of a detatched house than it is in an individual condo unit.”
Sommerville says large changes in real estate prices tend to be reflections of land value, not of the home itself.

http://www.news1130.com/2013/03/05/metro...er-report/
Metro Vancouver homes overpriced by about a quarter: report
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Messages In This Thread
Tsur Sommerville Says: - by wreckonomics - 12-28-2012, 06:31 PM
RE: Tsur Sommerville Says: - by fixbot - 12-28-2012, 08:50 PM
RE: Tsur Sommerville Says: - by jesse - 03-06-2013, 08:50 PM

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