Some argue that Vancouver real estate tracks certain Southern California markets. There may be merit to the argument, and it certainly raises some interesting questions. For example, in what way do we track the market in question? Simply in terms of price, or are there other, more important underlying similarities?
I find US real estate interesting, but of course I’m not referring to recent price ups and downs. Its organized real estate in the States that grabs me. Americans often come up with ideas that simply don’t work here. Sometimes they are clearly ahead of the wave that is about to wash up on our shore.
That’s one reason I find Jeff Brown interesting. There are some who think that anyone in real estate has an interest in pumping their local market. The idea strikes me as naive, but I’m unlikely to change many minds. Take a look, however, at Thursday’s post on Jeff’s blog where he talks about San Diego income properties and the future.
Is Jeff completely crazy? He seems to be saying that San Diego income properties will not return to a pricing level in line with fundamentals. Are there any parallels for Vancouver, or for Canada?