I appreciate hearing what you heard. Around Vancouver and outskirts they will be sold but they absolutely are not selling fast. I foresee them maintaining their value around my area but I don't necessarily think they will go up much. I wouldn't buy a new condo and I wouldn't buy a very old one unless it was a well maintained all concrete building with over 1000sqft of floor space.Avoid condos like the plague right now. Even the builders can’t unload them. The government is thinking about bailing them out by setting up a loan scheme for another investment company to buy the extra stock, so the builders can’t have their money free’d up to start other housing projects. I figure there will be no money in condos for likely 20 years, because they will slowly dump off the inventory and us tax payers will pick up the difference on the failed loans.
I'm not sure about anywhere else though. The BC govt is keeping space extremely limited and the lack of parks and SkyTrain extension are forcing people outwards. Again, I don't see them going up much and it depends on what and definitely where you bought.