As part of MLA Canada’s 20 Years of Real Estate Success Celebrations, we invite you to join Ryan Lalonde, President, and Cameron McNeill, Executive Director, as they review some of the most captivating headlines from their past 20 years in real estate.
“We had a government lead real estate slump, but our basic real estate fundaments remained strong. Vancouver enjoyed strong population growth, constrained new housing supply, and low cost of debt. But the impact was on consumer confidence. Homeowners and investors were waiting and watching. Overall values softened – especially detached – concrete presale off some 20% from the highs that were just 24 months earlier. And yet, townhome values remained reasonably resilient. However, overall values were not strong enough to support new development activity, so projects of all types paused, leading to a supply shortage,” explains McNeill.
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