Simply that the exhortation to “buy now” seems to have been based in part upon a British Columbia wide study which compared calendar 2005 to calendar 2006 (i.e. up to Dec/06) and then states (a full 6 months later that “the time is now!” Note - it is July 2007 and this is Greater Vancouver (more specifically, the North Shore) and not B.C. in general where, during 2006, well leathered Albertan buyers discovered in vast numbers how much they loved central/rural B.C. property. 

 May it be possible that some pockets of B.C. and specifically our Lower Mainland are plateauing and starting to show some build-up in inventory? It was actually the “ifs” penned in that same flyer, written who knows when, that perturbed me more than just a little. An expert (read academic) referred to a price escalation pattern applying if there were no increasing interest rates or no oversupply.

Well, mortgage rates have increased in the last few months by approx ½ to ¾% and inventories are climbing (see the actual stats for Jan – July 2007 below). Does this suggest we should be trumpeting – “Time To Buy!” All I say is read comments carefully, find out timeframe of the comments and the geography of the report; Canada, province, full city or Ambleside (e.g.) … but enough of my personal frustration.

Before we however look at actual (six months on) facts, I would like to say that backing off from the thought of buying could well be folly. The overemphasis on affordability may be just that ….overemphasis. If a fair proportion can afford to buy – enough to maintain demand – we should not assume that the increase in supply dictates a weakening in demand and that prices cannot be sustained (or increase) – think about it.

A final note: As I attempt to help steer folk through the winding turns of the local market I must confess to finding the challenges of steering a canoe (in this case down the River of Golden Dreams) to have been somewhat formidable. Yes I know the course was running high, however thank you John and Susan for this initiation and your hospitality! Humility is a necessary thing.

Again, visit my website to see and “hear” the new developments. I continue my commitment to keep you….  www.OnTopOfTheMarket.ca . This work in progress strives to be the “go to” site for North Shore Real Estate analysis and jumping off point for FULL market listing information.

To join the group getting the e-mail version of this “update” - send a request now to This email address is being protected from spam bots, you need Javascript enabled to view it and you’ll be assured receipt; phone me at (604) 988-7368 or visit www.OnTopOfTheMarket.ca