Leading residential, commercial and industrial builders from the province’s largest economic sector got together in a hotel in Vancouver for 2020 BC real estate forecast.
A crowd of 1,200 guests, including government and elected officials, builders, urban planners and real-estate professionals attended the event organised by a non-profit association of the development industry.
There was an apparent agreement among the panelists that interest rate, construction cost, price for residential units and their rents could potentially go slightly up while the possibility of any reduction in the margin for the Mortgage Stress Test is low.
Panel members forecasted that immigration and US election could have the biggest influences on Vancouver market in 2020.Panelists opined that we need to build more homes & commercial spaces that are transit accessible.
The guest speakers said the government shouldn't make policies alone if it wants to provide housing solutions to everyone.
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