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The summer saw two rate increases with the strong potential for a third right after Labour Day & it's leaving everyone wondering: will this break the real estate market? Hani Lammam, Executive Vice President of Cressey Development Group, sits down with Adam & Matt to give his take and it is anything but shortsighted. How will relentless rate increases impact both residential & commercial real estate for years to come? Are we entering a prolonged period of price discovery for many asset classes? And will the residential market see a glut of new inventory this fall? All that and so much more on today's episode. Level up! Here is a SECURE LINK to donate to Jayden Lee's 100 Mile run for BC Children's Hospital.
On this episode, Jason Turcotte, vice-president of development at Cressey Development Group, discusses trends in residential and commercial real estate in Greater Vancouver. BIV executive editor Hayley Woodin hosts. See omnystudio.com/listener for privacy information.
Jason Turcotte, vice-president of development at Cressey Development Group, tells host Hayley Woodin that the economic consequences of a national foreign buyer tax could have a major negative economic impact on certain communities. He discusses how Ottawa should address affordability, and touches on how Greater Vancouver's housing market performed this year. See omnystudio.com/listener for privacy information.
Chapter 1: We're expecting the Labour Force Survey results from July tomorrow morning, and these have been a real bellwether for the economic recovery in the past couple of months. Guest: Brendon Bernard, Economist with Indeed.ca Chapter 2: Niki was in Gastown yesterday and the homelessness and drug use problems are seemingly out of control. Guest: Niki Reitmayer - CKNW Mornings contributor Chapter 3: Who decides how a vaccine for COVID-19 will be distributed and what is that process going to look like? We've learned the federal government has lined up supply deals with two major manufacturers projected to deliver a vaccine within 18 months, but what happens then? Guest: Dr. Catherine Hankins, Professor of Population and Public Health, McGill. Chapter 4: It may be quiet in the terminals but behind the scenes at YVR it's unbelievably hectic right now. Guest: Tamara Vrooman, YVR CEO Chapter 5: A huge uptick in real estate sales this past month, with numbers reaching even higher than this time last year. Sales of townhomes were up over 30% in July according to the latest report from the Real Estate Board of Greater Vancouver. Guest: Jason Turcotte, VP of Development at Cressey Development Group. Chapter 6: One of the COVID-19 vaccines candidates the federal government announced they're purchasing in the MILLIONS uses a delivery system designed by Acuitas Therapeutics here in Vancouver. Guest: Dr. Thomas Madden, President and CEO of Acuitas Therapeutics. Chapter 7: Conservative Leadership Candidate Erin O'Toole is one of the frontrunners in the leadership race and he joins us to talk about his vision for the party, and what it's going to take to unseat Prime Minister Justin Trudeau in the next federal election. Guest: Erin O'Toole, Conservative Leadership Candidate.
Chapter 1: A bleak outlook for the Metro Vancouver housing market this year, with a glimmer of hope for 2021. Guest: Jason Turcotte, VP of Development at Cressey Development Group. Chapter 2: Confederate flag banned at NASCAR races Authorities in Oklahoma are investigating the arrest of two Black teenagers who were accused by white police officers of jaywalking in a Tulsa neighbourhood where some areas had patchy sidewalks or no visible footpaths. Tulsa Police on Tuesday released two body camera videos of the officers who handcuffed the teens on June 4th, after a video of their arrest went viral on social media. Guest: Niki Reitmayer - CKNW Mornings contributor. Chapter 3: New project aims to improve communications around COVID-19. How much information about COVID-19 is getting through to people, and where are they getting it from? Those are just two of the questions researchers asked in a new survey project. Guest: Dr. Emily Rempel, Knowledge Translation Lead at BCCDC, social sciences researcher. Chapter 4: We know not everyone is getting reliable information about COVID-19, so what ARE they hearing? Guest: Sean Simpson, Vice President with Ipsos Public Affairs. Chapter 5: LTC home series A lot of people choose a private long term care home because it gives them more options, but many of them are too expensive for people to access. Public care homes aren't the right fit for everyone, and private homes have been asking for government funding for years so they can expand the services they offer. Global News reporter Jill Croteau joins us now to talk about this as part of the fourth installment of her series on long term care homes in Canada this week. Guest: Jill Croteau, Global News Alberta. Chapter 6: ICBC will resume licensing commercial drivers next week. Yesterday afternoon we found out ICBC road tests are resuming for commercial drivers next week, and those have been on hold for almost three months now so there's a huge backlog for them to deal with. Guest: BC Attorney General David Eby.
On BIV Today... Cressey Development Group vice-president of development Jason Turcotte discusses how Metro Vancouver's real estate industry has been impacted by COVID-19.
On BIV Today... This episode of BIV Today explores why international capital is turning away from Vancouver real estate and moving to investments in Seattle. Jason Turcotte, vice-president development at Cressey Development Group, and Dean Jones, principal and owner of Realogics Sotheby’s International Realty in Seattle, discuss the trend, and the implications for two regions competing as gateways to Asia. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today... Striking CN workers may be back on the job, but operations at the railway company are not yet at full capacity. Sean Finn, CN's executive vice-president of corporate services and chief legal officer, explains how the eight-day work stoppage affected operations, and how the company is planning out its recovery. Vancouver recently passed a number of new housing policies. Jason Turcotte, vice-president of development at Cressey Development Group, discusses whether they will help generate more rental housing. He shares just how much rising property taxes can cost Canadians and developers. Hayley Woodin hosts.
On BIV Today... This episode of BIV Today explores why international capital is turning away from Vancouver real estate and moving to investments in Seattle. Jason Turcotte, vice-president development at Cressey Development Group, and Dean Jones, principal and owner of Realogics Sotheby’s International Realty in Seattle, discuss the trend, and the implications for two regions competing as gateways to Asia. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… In the midst of a federal election and climate protests across Canada, a new report highlights an untold election story. Hayley Woodin speaks with Merran Smith (1:49), executive director of Clean Energy Canada, about the growth potential of Canada’s clean energy sector. In the second half of the show, Cressey Development Group vice-president of development Jason Turcotte (20:45) shares what surprised him about Greater Vancouver’s latest real estate data. He also assesses some of the federal parties’ proposed housing policies. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… The Greater Vancouver housing market as a whole is showing signs of balance, but pockets within it are seeing more or less activity. Jason Turcotte (2:38), vice-president of development at Cressey Development Group, joins the show to discuss the latest regional real estate figures. Developers are resorting to more creative ways of marketing their projects. Maxine Jakubke (13:19), business director of Talk Shop Media’s real estate division, explores how real estate marketing trends have shifted from traditional to digital, influencer-led campaigns. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… The region’s residential real estate slowdown may have found its bottom. Jason Turcotte, vice-president of development at Cressey Development Group, says Greater Vancouver has seen unusual activity this August. If it stays the course, he says the region could see stronger activity this fall season with more listings hitting the market. And just 2% of the office space in Downtown Vancouver is vacant. Tony Astles, managing partner and head of commercial real estate services at BentallGreenOak, discusses the city’s office market in depth. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… Greater Vancouver home sales picked up in July. Jason Turcotte, vice-president of development at Cressey Development Group, weighs in on the latest real estate board statistics, and the newest housing trends data from the Canada Mortgage and Housing Corporation. Tyler Orton hosts, see more at https://biv.com/.
On BIV Today… British Columbia Business Council chief economist Ken Peacock (1:04) breaks down B.C.’s tight labour market, and shares why he expects to see some job growth moderation in the remainder of 2019 through to 2020. Jason Turcotte (12:01), vice-president of development at Cressey Development Group, assesses the housing markets of three communities outside of Vancouver. The further you move east in the region, the smaller the price drops for certain kinds of housing. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today... Cressey Development Group vice-president Jason Turcotte lends insight into the Metro Vancouver real estate market. Many buyers are taking a wait-and-see approach to the market, while certain housing types and communities are seeing more activity than others. Turcotte says a web of policies has impacted the industry significantly, and that some 6,000 units have been pulled back from development as a result. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… Has China’s Belt and Road Initiative proven to be a debt trap? In this Asia 360 segment, Jeff Reeves (2:14) – vice-president of research at the Asia Pacific Foundation of Canada – examines the outcomes of China’s second Belt and Road forum. He also explores what has changed since the idea was first announced years ago. This includes more membership, more money and a consideration for green development. Plus: the role Canada can play in the trillion-dollar project. Jason Turcotte (23:37), vice-president of development at Cressey Development Group, discusses the balance of preserving Vancouver’s heritage homes and developing additional housing supply. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… Does Greater Vancouver still have an in-demand luxury market? Jason Turcotte (2:03), vice-president of development at Cressey Development Group, weighs in. Ratebroker CEO Jay Dilley (18:54) discusses disrupting the insurance industry. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… Jason Turcotte, vice-president of development at Cressey Development Group, shares his thoughts on the housing measures in Budget 2019. The Cube founding partner Alan Goldman examines B.C.’s AR, VR and MR industries. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… Telus Health has become the largest healthcare IT service provider in Canada. The health-focused division of the telecommunications giant has launched an app that allows patients to check their symptoms, see a doctor and view their clinical records on their phone. Telus Health vice-president Juggy Sihota (1:08) discusses how technology can alleviate the pressure on Canada’s healthcare system. A slowing market may dampen spring sales. Jason Turcotte (17:47), vice-president of development at Cressey Development Group, offers a spring outlook for Greater Vancouver’s housing market. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… Jason Turcotte, vice-president of development at Cressey Development Group, says provincial policies could be put in place to create more rental housing supply. He also weighs in on last week’s budget, and shares how technology is shaping the development industry. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… It’s been several years since Canada produced a unicorn company. Is the country getting better at scaling technology startups? Charles Plant (1:24), director of the University of Toronto’s Impact Centre, discusses Canada’s narwhals – the companies with the best shot at becoming world-class competitors. In a word, Jason Turcotte (13:59)– vice-president of development at Cressey Development Group – says Greater Vancouver’s development industry is “frustrated.” He breaks down the challenges facing builders, and how they translate into higher real estate prices. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… Jason Turcotte, vice-president of development at Cressey Development Group, examines Greater Vancouver’s housing market at the start of 2019 and the challenges the sector will face. Turcotte says the market needs stability, and that high property prices will continue to be a major issue for Vancouver businesses as the commercial market is slow to correct to a new context. Hayley Woodin hosts.
On BIV Today… The show reflects on 2018 from trade and real estate perspectives. Carlo Dade (0:38), director of the centre for trade and investment policy at the Canada West Foundation, reviews the year in trade, from USMCA, to the CPTPP and Canada-China relations. Jason Turcotte (22:16), vice-president of development at Cressey Development Group, looks back on how the markets performed in 2018, and the real estate policies that affected Greater Vancouver housing and development. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today… Jason Turcotte, vice-president of development at Cressey Development Group, assesses the housing platforms, promises and policies that have been floated during Vancouver’s municipal election. BIV’s tech panel tackles Facebook’s hack, Amazon’s wage hike and the demise of Google+. Kirk LaPointe and Hayley Woodin host, see more on https://biv.com/.
On the latest show… Jason Turcotte, vice-president of development at Cressey Development Group, discusses the City of Vancouver’s new 10% local-first program. How is Vancouver’s Railtown neighbourhood evolving? Rendition Developments president Brian Roche discusses the community’s first major commercial development. Hayley Woodin hosts, see more at https://biv.com/.
On BIV Today... Jason Turcotte (0:56), vice-president of development at Cressey Development Group, delves into the latest real estate figures for Metro Vancouver. He also cautions that prices aren’t necessarily going to follow a projected 21% residential sales drop for 2018. Derrick Fung (15:25), CEO of Drop, analyzes Air Canada’s plan to buy back Aeroplan, and what the airline’s rebranded loyalty program may mean for consumers. Kirk LaPointe and Hayley Woodin host, see more at https://biv.com/.
On BIV Today… Should Canadian consumers avoid buying shoes south of the border? Is now the time for a $700,000 mortgage? Vancouver-based market strategist Sean Coakley from Cambridge Global Payments analyzes how tariff and trade fears are impacting the markets. He shares too how consumers can respond. Vancouver’s greenest city action plan relies on green space. Nathan Gurvich, development coordinator at Cressey Development Group, offers a development perspective on the challenges of making green spaces a reality. Kirk LaPointe and Hayley Woodin host, see more of their work at https://biv.com/.
On BIV Today… From Re/Max Western Canada, Elton Ash reviews the firm’s 2018 recreational property report. He weighs in on how B.C.’s speculation tax has affected the sector. Jason Turcotte, vice-president of development at Cressey Development Group, discusses the impact of the city’s Cambie Corridor redevelopment, and examines Vancouver’s capacity to accommodate growth. Kirk LaPointe and Hayley Woodin host. Find Business in Vancouver stories like this https://biv.com.
Vice President of Development at Cressey Development Group, Jason Turcotte, joins Adam and Matt to discuss Chelsea - 79 carefully considered one, two and three bedroom condos and townhomes located at 30th Avenue & Cambie Street, Vancouver. Is this the most exciting project to hit the Cambie corridor?