To paraphrase Mac Davis: Happiness was Vancouver real estate prices in our rearview mirror… The elephant in the room in today’s market is the steep decline in affordability over the past few years. The Vancouver Sun reported on the 14th annual Demographica list of severely unaffordable world wide cities. Vancouver came third after Hong Kong […]
Despite all the doom and gloom in mortgage news and desperate world news buyers and sellers in Vancouver are still singing…’Santa baby, I’m filling my stocking with a duplex, and cheques. Sign your ‘X’ on the line Santa baby, and hurry down the chimney tonight’… (lyrics by J. Javits and P. Springer) Lots of wishful […]
And the band played on… Julie and I were recently in the Halifax Maritime Museum and viewed the stories of the sinking of the Titanic.The belief was that the Titanic was indestructible, therefore did not need lifeboats for every passenger. When the rescue ship Carpathia that was 4 hours away arrived on the scene the […]
September stats on the housing market are history in the rear view mirror. Changes in the financial world are coming so fast and so furiously that historical information may not apply. Sale prices have risen in every category. Particularly in condo and townhouse segments. Detached homes have gone up a smaller percentage but are still […]
Older houses present problems for the prospective buyer. Insurers may refuse to cover, or renew policies on, houses that have not been upgraded to modern standards. What follows is a list of known issues that a buyer should investigate.
As the world was falling down around us with wildfires, hurricanes, terrorism, violent political demonstrations Vancouver real estate just skipped along to yet higher prices overall and extraordinary demand in the condo market. The big reason for continuing rising prices in the Vancouver real estate market is the total lack of good inventory. The State […]
There’s so much turmoil in the news today and so many extreme opinions on every subject that it does seem like a good time to be nice to those around you. The biggest issue in Canada at the moment is that of illegal immigration including refugees streaming into Quebec from the US.
Last year in July the provincial government announced their foreign buyer tax. It was a mad scramble to close properties before the tax took effect which distorted the market at that moment. However, there was a slowdown in sales for several months afterwards while the market adjusted to the changes. The tax was eventually absorbed by the seller and the buyer of the higher end properties that attracted foreign investment. It did impact the number of detached sales.
With short winters, plenty of fertile soil, and a temperate rainforest climate, Vancouver is the perfect place to grow a lush, beautiful garden. The only problem is that many Vancouver residents don’t have […]
As projected in May the condo is King in June. The trend is for prices to rise continuously in the condo market because it is so in demand and the inventory is low. The detached home market has recovered in value from last summer’s Foreign Buyer Tax slow down that followed its implementation but it […]
It was once common to use the expression “as the world turns” to explain inexplicable actions. Today the wording has segued into “as the world spins”…off it’s axis. In some ways the old misogynist spirit is abroad in the land as either populist or progressive political theories move forward. It will be interesting to see […]
Despite the media trumpeting stats that the real estate market is down the reports are referring to the numbers of sales, not prices. April sales were 4.8% above the 10 year average for the month but much below the megasales numbers of 2016. There has been little inventory coming on the market due to seller […]
As the city with the highest density rate in Canada, Vancouver architects and city planners need to find new ways to increase housing density to make way for the population growth, which is expected to reach 3.1 million over the next 14 years. Local architect Michael Geller has looked to Europe for inspiration. Downtown Vancouver by The […]
The raging fire of unsustainable rising prices seems to be consuming the Greater Toronto housing market including satellite cities like Barrie 90 km away and Hamilton 65 km away. The big concern for Stephen Poloz,Governor of the Bank of Canada is the effect a real estate collapse would have on the Canadian economy. The Greater […]
There’s an old Scottish saying that ‘you should cut your cloth according to your stipend’ meaning to live within your means. It appears that local buyers are taking that idea to heart and making housing decisions based in reality not dreams.