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Is flipping a house now a flop? Why the practice has lost its cachet in Vancouver

Is flipping a house now a flop? Why the practice has lost its cachet in Vancouver
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Is flipping a house now a flop? Practice is losing cachet in Vancouver

Is flipping a house now a flop? Practice is losing cachet in Vancouver
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Two Lower Mainland homes bought and then sold mere months later make $250,000 each in turnover

by Carlito Pablo on April 18th, 2021 at 10:58 AM
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You may be wondering how much speculation is going on in the red-hot real-estate market.
For sure you’ve heard of stories about buyers trying to outbid each other, homes getting sold way above their listed prices, and not enough listings to satisfy demand.
There are also a lot of opportunities to make a buck.
An economist has acknowledged that there could be a certain level of speculative activity happening.
Specifically, Robert Hogue with RBC Economics wrote on April 15, 2021 that rapidly rising home prices across Canada have “likely opened the door to speculative activity in several markets”.

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Canadian home prices could fall 40 per cent in major housing market correction: realtor

Canadian home prices could fall 40 per cent in major housing market correction: realtor
Canadian home prices could fall 40 per cent in major housing market correction: realtor
A British Columbia-based broker compares the current situation to the market conditions that led to the U.S. housing crash in 2008
By Carlito Pablo
Samuel Engelking
A realtor fears that the Canadian housing market is so overheated that it could burn the whole thing down.
Adam Major, managing broker with British Columbia-based Holywell Properties, says that what led to the U.S. housing crash in 2008 might be happening now in the country.
Major believes that the government “probably should have done something already.”

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Realtor warns Canadian home prices could fall 40 percent in major housing market correction

Realtor warns Canadian home prices could fall 40 percent in major housing market correction
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Vancouver real estate: Kitsilano mansion sells over $20 million as luxury home sales sizzle in hot market

Vancouver real estate: Kitsilano mansion sells over $20 million as luxury home sales sizzle in hot market
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Langley emerges as new hot spot for real estate: townhouse sells 61 percent or $500,000 over asking price

Langley emerges as new hot spot for real estate: townhouse sells 61 percent or $500,000 over asking price
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Chilliwack real estate gets wackier: 73 percent of homes selling either at full or above listed prices

Chilliwack area records 529 residential sales in February 2021.

Vancouver , British-columbia , Canada , Chilliwack , Holywell-properties , Major-holywell-properties , District-real-estate , Greater-vancouver , Fraser-valley , Adam-major , Lower-mainland

Vancouver real estate: home across Trout Lake listed $1.7 million, sells $870,000 over asking for $2.6 million

Last week of February see busiest market in Lower Mainland since start of 2021.

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