Sticker shock of a different kind is setting in across Metro Vancouver as many homeowners check their B.C. Assessment property valuations and discover the assessed value of their home has skyrocketed.
The assessments comes at a time when a long-predicted housing correction may actually become a reality.
Prices for single-family homes in Metro Vancouver have not moved up overall since May/June and are probably down on average 15 per cent. Other forecasts suggest 2017 could see another double-digit price drop across North America, although one can never be sure when it comes to Vancouver.
