The Vancouver Sun published an interesting discussion between so-called real estate experts with Sun reporter Derrick Penner asking the questions.
"The Sun invited to its editorial offices a panel of experts in Polygon Homes chairman Michael Audain, top realtor Patsy Hui with Re/Max Westcoast, and Tsur Somerville, director of the centre for urban economics and real estate at the Sauder School of Business at the University of British Columbia."
Here are the questions I would have asked if I were in Derrick Penner's shoes:
1) Please tell me how you each earn a paycheque? Do you feel how you earn your money helps you have an unbiased opinion on real estate matters?
2) What makes you a real estate expert? What are your qualifications?
3) Why should the Sun's readers heed your advice? Do you actually have any advice? What is in it for our readers? What's in it for you?
4) What would you say to someone who felt that prices of homes in the Vancouver area were destined to fall another 20-30% from current levels? What would you advise people to do if that were the case?
5) Where do you feel future buyers of real estate will come from since population growth is at historically low levels and the ownership rate has risen dramatically in the past 15 years? How will prices rise if there are fewer buyers than sellers?
What would you have asked if you were in Derrick Penner's shoes?