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June 8, 2021 | The Saretsky Report – May 2021

Steve Saretsky

Steve Saretsky is a Vancouver residential Realtor and author behind one of Vancouver’s most popular real estate blogs, Vancity Condo Guide. Steve is widely considered a thought leader in the industry with regular appearances on BNN, CBC, CKNW, CTV and as a contributor to BC Business Magazine. Steve provides advisory services to banks, hedge funds, developers, and various types of investors.

Let me paint a picture for you. Last May, at the onset of the pandemic, economic and housing activity completely shuts down. The world goes into panic mode. In an effort to prevent an economic depression and a wave of defaults, the government along with the central bank, decide to essentially print money and hand it out to anyone who needs it. When the economy begins to re-open in June/July and with people still largely constrained to staying home, people decide they need more space and or a change of scener y. What ensues is an unprecedented migration, people start moving, and why not? Life is short, money is cheap and the banks are happy to lend. A national housing boom gripes the nation, home prices accelerate at their fastest clip ever. Fast for ward nearly a year later, record sales, record prices, and a ton of buyer demand pulled for ward. What’s left? Fewer buyers.

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June 8th, 2021

Posted In: The Saretsky Report

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