No downturn in Vancouver says Conference Board

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A senior economist from The Conference Board says people are buying houses “from wealth as opposed to earnings”. Robert Wiebe said yesterday that much of that wealth is coming from foreign investors and he doesn’t see that changing anytime soon unless there is a downturn in the Chinese economy or China restricts the flow of wealth overseas. Wiebe believes that the market in Vancouver is steady and balanced and that demand will continue to grow across the country. Read the full story.

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