Winter 2013The house market is a little harder to predict as it is less likely to follow historical lines due to the influence of outside factors, most specifically Chinese buyers. There is no doubt that Vancouver will continue to be a very attractive option for Chinese investors and their families but how and when they choose to buy is tougher to call. The global economic climate, the Chinese Economy, BC's prosperity vs other provinces and the tax implications in both countries are all major factors. However it’s safe to say that for the most part the Chinese are here to stay and, as with the condo market, anyone looking long term has little to worry about. The challenge is avoiding getting burned by short term fluctuations or conversely becoming too preoccupied (dare I say greedy) by trying to take advantage of those same fluctuations. Eg: if you bought a house on the Westside in 2009 and sold it in 2011 you would likely have done very well. If you bought the same house in 2010 and sold it now, not so well. However if you bought any house before 2007 and sold it now you would have done very well and I believe that the same will apply if you buy almost any house in 2013 and sell it in 5-10 years time. It’s like day trading vs Gold. In today’s world one makes a lot more sense for most of us than the other, even more so when it’s your home you are talking about.