"Interest rates are also holding, but should they increase by as little as 1%, that would negate a 10% drop in purchase price. People shouldn't wait for prices to drop, because we never know when interest rates will be increased to stimulate the economy." VREB
I don't hold the outgoing Victoria Real Estate Board president accountable for the gaff in this month's market update press release even though it appeared in her voice. I know how these things work and while it's likely she approved the use of the quote it's highly unlikely she was its author. Never-the-less, it was a priceless gem that should live on in infamy so I've added it to the header of this site so we can have a little laugh every time we find ourselves visiting.