In Vancouver, the sales drop and the prices fall contrast with good times in Toronto despite the Mortgage Stress Test applies across the country.
There are cities all over the world experiencing massive infusions of foreign capital that have transformed their real estate markets.
We are all adjusting our sails in this volatile real estate market. Even adjusting the sails can’t help when the wind dies.
There are changes and drama everywhere that will impact how the rest of the world views a safe haven in Vancouver.
Change on every front in Canada and around the world is in the air and the uncertainty is creating a lack of confidence in financial future.
Affordability is one issue, the dearth of any kind of rental housing in the Lower Mainland, particularly in Vancouver is a huge social problem.
The architectural design community in Vancouver is changing the landscape of real estate. We are pleased to share firms that piqued our interest!
The big issue is affordability and availability of housing, for either rental or purchase. This is a problem throughout Metro Vancouver.
It appears that the well-being of residents of BC has been compromised by an economy built around organized crime and money laundering.
There was a dramatic drop of detached home sales in February all through Metro Vancouver and the rise of taxes in Metro Area.
Affordable home ownership or rental accommodation is unavailable to most of the local younger population, even those with stable professions.
To paraphrase Mac Davis: Happiness was Vancouver real estate prices in our rearview mirror…
The sales to active listing ratio for November 2017 is 32%. By property type, the ratio is 15.9% for detached homes and 36.4% for townhouses.
In October 2017 the benchmark price for a detached home in North Vancouver was $1,700,200 up 2.1% in one year.
In September 2017 the benchmark price for an apartment property across the region was $635,800. This was a 21.7% increase from September 2016.