The Vancouver Real Estate Market Average Prices Graphs: 1980-2006

So here it is December 2007, heading into a new year of real estate investing. We seem to be heading into another year of slight price increases and steady economic growth. Every day I hear "its got to come down sometime". What do you think about that? Perhaps we as British Columbians feel that way because we have had some ups and some real downs in the past 20 years, or perhaps its human nature to think that what goes up must come down.

Whatever the case, if you never buy real estate, you will forever be renting. If I look at the majority of my friends, the tail end of the boomers, those that bought real estate sold their real estate or did what we call downsizing and were able to invest the profits and be able to retire. Those who never bought are still renting, still working with no prospect of retirement, what will happen to them when they are unable to work any more? Sure they were able to put away a few RRSP dollars that they will have to start spending at age 64 or so and add that to a small amount of ccp and Government pensions and you may just be able to eek out a living in a subsidised housing complex. What fun...