Now.
The Pest analysis comes in to play does it not Harvey?
Political
Economical
Social
Technological
Politically we just saw the landscape change to two parties that ran on platforms to seriously curtail wealth status properties, speculatory building and to dry up the idea of foreign ownership via levies taxes and more. All told a million dollar home purchased from outside the country by a non resident could cost in excess of 65% of the total home value in taxes. That will have a serious effect on things, that is if all of the promises from the Greens and NDP come to fruition.
Economically we are seeing professionals in the STEM fields not being able to purchase even moderate homes in vancouver. Family incomes in excess of $200k per year are unable to buy even mid level homes. This does not even include rental issues in which a place like Keremeos or Cawston BC are charging $1550 a month for a 3 bedroom (cities with populations under 5000) and my area of Penticton seeing a 2 bedroom 2 bathroom condo unit renting for $2250 a month. With wages in the province all but flat over the last decade this is no longer sustainable for people to simply live. the average median monthly income is now seeing in excess of 55% going to home rental or purchase.
Socially we are seeing people finally demanding change. This is no longer a, we can just move elsewhere scenario. it is province wide. When double wide trailers in ft nelson are commanding $200k people are demanding change. Endless petitions, demonstrations and calls for action to solve the wage inequality and housing crisis. Not to mention the so called new growing class of "well dressed homeless" comprised of individuals making more than $40k a year living out of their vehicles or couch surfing.
Technologically is the big one. One of the last bastions of middle income earning in BC is manufacturing. BC is set to lose an estimated 18,000 jobs over the next 2 years to automation. Factor that in with people now finding information after BCREA and the government started posting day to day statistics on everything from housing to wages and people are informed, educated and can see what is happening.
Summarily put, we are seeing every single aspect of the common driver PEST factors in play and these are almost universally indicators of upcoming change.