When looking for places to invest, Don Campbell considers:
- Population Growth – are there more people moving in or moving out?
- Economics – any jobs provided from major industry, oil and gas, or forestry?
- Infrastructure – is the city moving forward by building new hospitals, parks, school, new roads?
In a phone interview with Georgia Straight, Don Campbell, author of a number of books such as “Real Estate Investing in Canada” predicted:
Vancouver will become a bedroom community in the 10 years
- Bedroom community definition: a community with little or no major employment centres
- Vancouver has been shifting from a port town with heavy industry to more residential with retail and restaurants (providing lower-paying jobs)
- Manufacturers and distributors which provide high paying jobs are moving to Surrey, Langley and Abbotsford because of improved transportation, especially the South Fraser Perimeter Road.
- Generation Y (born around 1980s and 2000s) will need larger units as they start to have babies
- The price per square foot on 2-bedroom and 3-bedroom homes will increase more quickly over the next 10 years than 1-bedroom homes