MSN published a Vancouver Sun article quoting Thomas Davidoff, a UBC Sauder School of Business professor, about the likelihood of Vancouver home prices declining in the near future.
“When you head into a downturn, typically you see sales volumes fall before prices,” he said. “There’s been a massive decline in volume and a moderate decline in prices so far, and it’s reasonable to infer that we’re going to see, given how bad the decline in transactions has been, that we’re going to start to see a more meaningful decline in prices.”
