So it seems like the housing market in Vancouver and the GTA is overheated, driven by unrealistic expectations of future price growth. People who move are keeping their old place instead of selling, because they expect prices to go up; investors are doubling down and borrowing against existing properties to buy more, because they expect prices to go up; first-time homebuyers are borrowing huge amounts of money, because they expect prices to go up.
The first-time homebuyer's dilemma
The first-time homebuyer's dilemma
The first-time homebuyer's dilemma
So it seems like the housing market in Vancouver and the GTA is overheated, driven by unrealistic expectations of future price growth. People who move are keeping their old place instead of selling, because they expect prices to go up; investors are doubling down and borrowing against existing properties to buy more, because they expect prices to go up; first-time homebuyers are borrowing huge amounts of money, because they expect prices to go up.