Real Estate
Despite historically high numbers in the cooler months, home sales around Vancouver will likely remain flat. Preparing for the fall is a typical process for many of us. I always look forward to the thought of pulling out the sweaters and buying new boots. My kids are asking about buying school supplies (yes, my children are looking forward to school). Buyers who have long been absent return to the market with the goal of getting into a new house by Christmas...
Despite rumours to the contrary, real estate agents are just the messengers when it comes to Vancouver’s volatile home prices. Agents do not drive the price of the real estate market. There, I said it. There is no collusion or price fixing. There is no “propping up” of price points. The reality is Realtors will help sellers decide a price threshold for a property, but the seller approves it. In many cases, the seller will dictate the price.
There’s got to be a morning after, they say. Now that Metro Vancouver’s real estate binge is apparently over, we're all wondering what the morning after will look like. The latest figures from the Real Estate Board of Greater Vancouver show that sales volumes are down 18.4 percent compared to July of last year. At the same time, regional figures show that this most recent July, at 31.2 percent below the 10-year July sales average, has been the worst in 12...
History shows that Vancouver has always been a real estate boom-and-bust city. Now that the most recent mania appears to be over, with sales falling and prices threatening to follow, there's no reason to think that's going to change. Look for a long quiet period. Fear and worry are rampant in Vancouver these days: the mighty real estate market is struggling. Whether it is in a tailspin or due for a monstrous crash is the subject of endless dinner conversations, office...
City council is proposing a massive renovation for the Expo 86 grounds and Plaza of Nations on the False Creek waterfront. The grounds around BC Place could be getting a much-needed facelift in the near future if the Vancouver city council gets its way.
The city of Vancouver's new housing affordability plan promises to greatly increase the pool of rental homes. It's about time we did something to deal with an approaching housing crisis. Vancouver’s new housing affordability plan has some interesting – and to many, very radical – ideas that may seem way out there among adamant free-enterprisers, who seem to make up the majority of developers and homeowners in this city.
The Canadian Mortgage and Housing Corporation’s tighter restrictions mean more Vancouverites will be pushed out of an already pricey housing market. The Internet is abuzz lately with debate on the speed and depth of the housing price correction in Vancouver. Some discuss the high price/income ratio being the harbinger of the bubble. Others suggest the ratio (while important) cannot cause a massive pricing slump without a recession to push it along.
English Bay Law Corporation - Corporate, Real Estate and Securities Law...
Ottawa has made it tougher to purchase a home amid concerns about rising household debt levels and an overheated housing market. Residents in Vancouver already have numerous obstacles when it comes to buying a home: inflated prices, limited housing stock, etc. But Ottawa just made it a little more difficult for potential homebuyers across the country.
Skyrocketing real estate prices have reached their inevitable conclusion, apparently stopping the real estate frenzy of recent years. This year so far, house prices have fallen by some 20 per cent in the Vancouver region. It's about time. All those taking part in Vancouver’s favourite investing game – real estate – may want to consider another pursuit. Meanwhile, those who were shut out of the market because of absurd prices may be getting some relief, albeit still minor.