The Fraser Valley, which was arguably BC’s hottest housing market in 2017, and a large benefactor of ‘the drive to qualify’, appears to have taken an unpleasant turn in recent months. The drive to qualify is phenomenon seen in every housing boom, it’s the process of moving far away to a region where real estate is more affordable and where one can actually qualify for a mortgage. This drive is often led by a fear of missing out as prices inflate across the city, creating a speculative mania enhanced by stories to justify the ever increasing prices. As buyers scrambled to enter the market, sales surged hitting an all time high in 2017 while inventory simultaneously plunged to record lows. From January 2016 to January 2018 buyers drove the typical condo higher by an eye watering 88% Per the MLS benchmark.

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Key Political Developments Prime Minister Trudeau’s ResignationTrudeau, described as economically illiterate, is resigning. Trump’s Inauguration A knowledgeable Vancouver real estate