Number of Million-Dollar-Home Owners Continues to Rise
The number of owners of million-dollar homes in B.C. will continue to climb as prices for real-estate show no signs of abating, two economists say. But if prices maintain their rates of increase, Vancouver could experience a “real-estate bubble,” says a third.
The recent run-up in prices has been caused by a healthy economy that has increased demand. At the same time, supply has not been able to keep up, Cameron Muir, senior market analyst with Canada Housing and Mortgage Corp. said.
Fiona Anderson - Vancouver Sun