New numbers suggest the B.C. housing market is failing to keep pace with inward migration, presenting investors with the kind of opportunity many thought was lost.
“There are 40,000 people moving to B.C. every year, mostly from overseas,” says Ozzie Jurock of Jurock Case Real Estate Action Group.
“That in turn, according to CMHC, creates a household formation of 30,000 units that we need to have every single year, either in rental values or new ownership. In the lower mainland alone, we have 19,090 new households formed, and it is expected to increase at that rate to 2018.”
The BCREA’s monthly data predicts housing starts to be slightly below 30,000 units in 2015, at 28,700, while residential sales are forecast to increase 1.2 per cent to 84,900 units
Tagged : mls Kamloops
Found 51 blog entries tagged as "mls Kamloops".