Bina 81-2'¥riddy Jude 9; 1989'S North SherP'News”? REAL ESTATE ‘PRICES SHOULD STABILIZE’ Home Builders’ Assoc. positive about housing future THE HOUSING future for B.C. looks very positive for 1989 and 1990, according to the Economic Research Council of the Canadian Home Builders’ Association of B.C. (CHBABC). Stable prices, moderating interest rates and strong in-migration to B.C. should ensure housing starts will remain at their present levels until well into 1990, if not beyond. The Council suggested in- terest rates are at or near their peak and should start to moderate in the last half of 1989. The wide choice of mortgage options have serv- NEWS photo Peters ASTEADY stream of grain cars stop at the North Shore to unload cargo. Grain is stored here and eventually loaded on to ships for foreign shores. JEREMY LEEVERS Bus: 984-9711 GEOFF WHITE Bus: 984-9715 Sussex Group Geoff White Rity. Ltd. ed to lessen the impact of in- terest rates as the consumer now has greater selection of terms and rates. Prices should stabilize at their present levels due to a large number of listings and considerable inventory of resale housing. in addition, the downturn in housing ac- tivity in Ontario should also help stabilize prices for new homes as skilled labor and products will be in greater supply as the focus of hous- ing activity shifts from On- tario to B.C. In-migration to B.C. is currently very strong, with present levels running at over 70,000 people a year Moving into B.C. In many instances these are skilled ‘workers, professionals and businessmen who are prepared to invest in B.C. Job creation is very strong with unemployment falling to its lowest level since 1981. Provincially, the council was optimistic about B.C.’s economic activity into 1990, predicting 2 per cent real growth in 1989 and 2 per cent in 1990. All major in- dustries are predicting healthy activity over the next 18 months, and there is growing diversification of the economy. While there was some prediction of a mild reces- sion for Canada and the U.S. in lave 1989 or 1990, the council was optimistic These 39 Strata-Titled Homes May Be The Best Buy of 1989! Consider these features: e 1 & 2 bedroom homes! ® Secured parking! © Gas fireplaces! ® Satellite T.V.! © C.M.H.C. Approved! © 4 appliances! the B.C. economy would not be affected. The council noted the in- creasing importance of off- shore investments, sug- gesting the Asian investor is beginning to look at areas other than the west side of Vancouver. This should also help to stabilize housing prices. “Conditions are very pos- itive right now for the average home builder’’ said Brian Usher, president of CHBABC. “All signs are pointing to a stable cn- vironment with strong de- mand for new homes. This should be good for B.C., for at least the next two years.’” The housing industry has been one of the major fac- tors in the economic health of the province as it is the single largest industry in terms of capital investment, accounting for over $4 billion. The Canadian Home Builders’ Association of B.C. is predicting 32,500 housing starts in 1989, with strong activity throughout the province. The Economic Research Council of CHBA of B.C. is comprised of leading economists, builders and lenders who meet three times a year to discuss general economic conditions and the housing industry. ¢ 90% financing available! ¢ Walk to shopping transportation! * Some with glass balconies! ® Insuite laundry hook-ups! Prices range from $86,900 ] Excellent Value! VISIT OUR “OPEN HOUSE”’ SAT/SUN 1:00-4:00 p.m. TUES/WED/THURS 4:00-6:00 p.m. MORTGAGE SALE — RATES SLASHED AER EA: