[:en]February 1, 2018 – Vancouver, BC – Is now the right time to buy a home in Vancouver? This is a question many are asking themselves, as they look at the prospect of buying in one of the world’s most expensive property markets. Top real estate school Quick Pass Master examines some of the factors which will go into that decision:
- Can the buyer pass the mortgage “stress test”?
New regulations will make it more difficult to obtain mortgages. Specifically, borrowers will have to demonstrate an ability to pay back their loan at prime interest rates, even if their lender is offering a sub-prime rate.
- A Millennial influx.
Millennials are finally entering the housing market in large numbers. They may be positioned to take up the slack caused by those turned away by the “stress test.” Additionally, many lenders and realtors will be preferentially courting them.
- Higher interest rates.
While not certain, it is widely believed that interest rates will increase in 2018 – potentially by 2%. If this occurs, combined with the “stress test,” it will put Vancouver property out of reach for even more people.
In short, this is a highly volatile time for Vancouver housing, and many who seek to buy will be unable.
About Quick Pass Master School
Quick Pass Master was founded by Benson Wang, a realtor who found rapid success in the Vancouver area and wished to help others obtain that same success. The Quick Pass Master philosophy is simple – take the materials needed to pass the UBC real estate pass in Vancouver and focus on those elements most important to a new realtor’s success. The courses are taught by highly successful realtors from across Vancouver, and Quick Pass Master also offers both English-language and mathematics tutoring for those in need. This results in a highly effective program to help students pass the UBC real estate exam in Vancouver – fast!
For inquiries or to register for classes, contact 778-686-8555 or visit /.[:]