This a question I get all the time !
"What do you think is going to happen in 2018 to the Victoria Real Estate Market ?"
No one can tell you the answer to this question and if they do, it is a really good guess on their part.
I always like to give my clients this analogy. Suppose, you go to your doctor and you ask him
"What do you think will happen to my health in 2018?"
The doctor will respond by asking to run some tests on you and see how your overall health is going, If needed, he will prescribe some medication to make sure for e.g. if you do have a cholestrol problem, you are at lower risk of getting a heart attack.
Now, how does this relate to the real estate market. Well, the Bank of Canada (doctor) is checking the health of the Canadian Economy (patient) by running some tests and then based on those tests, it will prescribe different monetary policies to help keep it's health at optimum.
Will the stress test , cause it's health to crash. The plan is to help improve it's health not have a crash.
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