Oil prices are under $65 for the first time in five years, and despite some small gains this morning, remain between that five-dollar range. Brent lost almost 5% yesterday alone, bouncing back slightly to close at USD $64.24, while West Texas Intermediate ended the day at $60.94. They were both up less than a dollar around 3 a.m. Toronto time.
Believe it or not, NOW is the time to buy real estate in the Okanagan. Prices are at an all time low, interest rates are down and will remain down for the next 2 years (interest rates ALWAYS go down during a US election year = 2016...will go up slightly the end of 2015 but back down again...stay in a variable rate for now), rent prices are up, etc. The dropping oil prices will negatively effect our market but the pipeline to US will happy. It's only a matter of time before prices are up again. Use the dip to maximum your real estate investments now.