Greater Vancouver Real Estate

Below is a recent report by FRANK O'BRIEN, Western Investor:
When the Onni Group unveiled its Ora condominium tower in Richmond September 29 for local realtors, the entire 68 homes sold out in less than a week at more than $510 per square foot.
It was a hopeful harbinger for a Metro Vancouver housing market that is moving cautiously into the second year since a global recession slapped sales down 40 per cent and put a stop to double-digit price increases....

Below are passages from The Globe and Mail reported by STEVE LADURANTAYE on Oct 22, 2010.
The long shadow over Canada's housing market
"A a period of stagnation or slowly falling prices, coupled with weak home sales and waning construction activity, would cut off one of the engines that drove impressive economic growth and job creation in the years before the 2008 financial crisis"...

Fears for real estate sector already hit by declining sales
The Canadian Real Estate Association (CREA) has reached an agreement in principle with the Commissioner of Competition regarding the application before the Competition Tribunal, subject to the approval of CREA’s member boards at a Special General...

Below is a Vancouver Sun's article by Don Cayo, published on August 21, 2010:
What drives Vancouver’s house prices so relentlessly to levels four times higher than Winnipeg’s, and more than half again what Torontonians pay?
It’s simple, says Tsur Somerville of UBC Centre for Urban Economics and Real Estate....