The new year is a great time for Buyers to take
advantage of the Bank of Canada's generous interest rates before any upward
adjustments occur as the bank forecasts in 2015. Lower oil prices could mean
slower growth and more time before the Bank starts raising interest rates but,
2016/2017 could be whole new ball game as economic growth begins to propel
people into the British Columbia Real Estate market once again. According to CERI ©, the
global demand for Oil and Gas are forecasted to see the beginnings of a steep
increase by 2017. The anticipated lack of labour will drive the wages higher.
Good jobs and good returns on Oil & Gas investments will create wealth and
an ever increasing thirst for British Columbia Real Estate. The buyers at the beginning of a
real estate cycle have the least to lose and the most to gain.
Sally Hollingsworth, REALTOR®