DRIVERS OF HOUSING DEMAND IN BC.
1. DRIVERS OF HOUSING DEMAND
- Low Mortgage Rates
- Employment Growth
- Positive Migration
- Strong Consumer Confidence
- Economic Growth
2. Demographics of Housing Demand
- DINS Dual Income No Sex
- Tired Thirty Something Radically Educated Dropouts
- Fired Fifty Something Radically Educated Dropouts
- VIEPS Viagra Induced Excited People
- OPALS Older People Active Lifestyle
3. Who’s Buying?
Vancouverites planning to buy = 8%
- 1st Time Buyers = 37%
- Repeat Buyers = 60%
% of Repeat Buyers who:
Moved up = 57%
Moved Over = 10%
Downsized = 35%
4. The Differences Between the U.S. and Canada
- Smaller Sub-prime Market in Canada
- Low Default Rate in Canada
- No Adjustable Rate Mortgages (ARM)
- Consumers are More Prudent
- Low Speculative Activity
5. Is the Market Sustainable?
- Market fundamentals strong, demand stable
- Sales to remain high, price growth to slow
- New construction stable, at historically high level
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