Economic Outlook for Victoria BC – Real Estate Investment

You all know that recent months have seen a return of some uncertainty on the part of investors, who worry that we may be on the verge of a significant downturn similar to what we experienced in 2008.

I was able to attend a recent economic update (through a local Edward Jones representative) that put the situation in a different light for me, and I am happy to share some of what I learned.  The bottom line – if you take a look at the facts – the situation in 2011 is very different from what we faced a few years ago.

We certainly see increased volatility in today’s markets, for a number of reasons, not the least of which is the ability with our advanced communications, for investors to acquire information and act quickly upon it.

Those who know more about economics than I seem to be fairly comfortable that the economic outlook for Canada, and by extension for the Greater Victoria area is on a reasonably stable footing, with slow but positive economic growth, a declining unemployment rate and strong earnings growth across the country.

The experts that I’ve heard from stress that the best thing we can do is remain calm and stay invested.  And for many people their biggest investment is their home.  Over the long run, real estate investment has proven again and again to be one of the best (and safest) places to put your hard earned money. See you around Victoria!

Geoff McLean

Geoff is an established real estate professional whose years of experience have earned him numerous awards and accolades. He has been one of the top RE/MAX Realtors in the Victoria (BC) area since 1990, a Victoria Real Estate Board MLS Gold Award winner for more than 36 years, and has won many other awards over the years. What do these awards mean to you? They mean that Geoff works hard and that he produces consistently. He is well connected in the industry and in the community. Connect with Geoff via email geoff@mcleanrealestategroup.ca

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