Podcasts about Yaletown

Just over a year ago, Vancouver's rental market was on fire. Rents were rising at record pace, showings were fully booked within hours, and competition was fierce. Fast forward to today, and it's a very different story. Properties that used to rent in a single day are now sitting on the market for months. Rents are softening, vacancy is creeping up, and investors—especially small-scale landlords—are starting to feel the pressure.In this episode, we explore the major shift in Vancouver's rental market, digging into the economic forces and real estate dynamics that got us here. From high interest rates and inflation-fighting policies to rising construction costs and tariff threats, we break down how macroeconomic conditions have trickled down into a rental environment that's finally showing signs of balance—or at least a pause.We take a closer look at the impact of newly completed, purpose-built rental buildings and how they're changing the game for mom-and-pop investors. In 2024 alone, over 17,900 new rental units have been registered—representing 44.4% of all new housing starts in BC. As these larger, professionally managed buildings come online, they offer better amenities, stronger tenant protections, and often more aggressive pricing and incentives to fill vacancies quickly. This puts significant pressure on individual condo landlords, many of whom now have to drop rents or risk sitting vacant for months.We share real-world examples that paint a clear picture of this market shift. A 1,000 square foot, two-bed plus den in Yaletown that rented in just one day in 2022 for $3,500 is now listed at $3,400, has sat on the market for over 80 days, and may lease at $3,300—a 6% decline. A one-bedroom unit in Coquitlam that rented in 2 days for $2,300 in November 2023 just leased for $1,900 after 93 days and 33 showings—a 17% drop. Average days on market have risen from 32 to over 43 in the past year, and many units are receiving less than one showing per week.This episode unpacks what all of this means for renters, landlords, and investors alike. The balance of power may be shifting toward tenants, with more options, lower prices, and better negotiating power than they've had in years. At the same time, investors are being squeezed by rising holding costs, taxes, and a softening rental environment. Even as mortgage rates show signs of easing, the gap between expenses and income is widening for many who purchased recently using high leverage.We also examine whether purpose-built rentals are truly improving affordability, or simply creating a new class of high-end rental stock. While many of these buildings offer cost efficiencies, lower maintenance, and no risk of eviction due to landlord use or sale, they often come with premium finishes and luxury amenities that keep monthly rents high. Still, their existence could free up more condo units for first-time buyers and shift tenant demand in a meaningful way.Whether you're a tenant looking to time your move, a landlord wondering how to stay competitive, or an investor rethinking your long-term strategy, this episode brings clarity to a rapidly evolving market. We break down what's happening now, what's likely coming next, and what you can do to stay ahead of the curve in Vancouver's changing rental landscape. _________________________________ Contact Us To Book Your Private Consultation:

Vancouver: a city known for it's sushi, and near the top of that list is MINAMI. Or is it? We kick off apostrophe-two-five with a visit to Minami to see for ourselves if Yaletown's finest sushi experience can live up to years of Golden Plates, VanMag awards and Michelin Guides. Also featured: Our fun food predictions for 2025, Jill's beautiful honeymoon dining in Peru, and Brian's great experience at the recently opened Sumibiyaki Arashi.Don't forget to rate, review, subscribe and tell friends about the show! Follow our socials:InstagramTwitter

Battling to be the MLA for Vancouver-Yaletown? Guest: Terry Yung, NDP Candidate for Vancouver-Yaletown Guest: Melissa de Genova, Conservative Candidate for Vancouver-Yaletown Learn more about your ad choices. Visit megaphone.fm/adchoices

A new report from the Angus Reid Institute emphasizes BC's unaffordability issues, stating that one-in-three residents “seriously” consider leaving the province. Guest: Dave Korzinski -Research Director at the Angus Reid Institute Liberals are introducing capital gains tax changes. What does this mean for Canadians? Guest: Kim Moody - Founder, Moodys Tax Law Jill speaks with a shooting victim from a brazen Yaletown attack ten years ago, as he reflects on what he went through and how he's doing today. Guest: Paul Dragan - Victim in Yaletown shooting ten years ago Learn more about your ad choices. Visit megaphone.fm/adchoices

Support us on Patreon Call the PON Sauce Line: 604-283-9469 Arash and Ryan go live immediately following JT Miller's late game heroics as the Vancouver Canucks defeat the Edmonton Oilers 3-2 in Game Five. They break down the line-up changes, Elias Pettersson's bounce back game, Arturs Silovs consistent quality play and so much more. Fresh off attending game 5 in person, Geeta phones in from the heart of Yaletown to share her thoughts on the Canucks' late game heroics. Join us live on Youtube, Facebook and Twitter for the PON Post Game Show following each and every Vancouver Canucks playoff game, breaking down the game and taking your calls. Support the show on Patreon! Pledge a coupla bucks ($5, $15 or $25) for access to our bonus content including vlogs (including our new Canucks/Coyotes Game Vlog), our Rank City weekly segment, EXCLUSIVE NEW MERCH, video commentaries, access to the PON Discord and our weekly 5 Minutes For Paying segment. Pucks On Net shirts are available now. Email us today to place your order!  Looking for our social media? Here's our link tree  

Here's a list of some notable chefs and restaurants in Vancouver: Chef Skylar of Pier7 Restaurant and Bar in North Vancouver. Chef Behshad of CPrime Modern Italian Steakhouse in downtown Vancouver. Chef Abid of Moltaqa Moroccan Restaurant in Yaletown. Guest: Richard Wolak - Editor/Publisher vancouverfoodster.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to UnSpun - your current events podcast and YouTube show. Every week, Jody Vance and George Affleck unspin the latest news in local, provincial, and federal politics, and much more. This week, just when you think it is safe to go outside in Yaletown, the City of Vancouver makes “safe injection” sites mobile. The apocalyptical ice cream truck is coming to a neighbourhood near you. Meanwhile, police boards get an overhaul across BC, but you can't help but think this is really meant to control what is going on in Surrey policing fiasco and put a stop to their mayor controlling the agenda. And finally, is BC headed for a coalition government. That's a new theory floating out there. All this and more on UnSpun with Jody Vance and George AffleckFind out where to watch and listen at UnSpunPodcast.com

In a recent article, Doug Porter, Chief Economist for BMO, revealed a startling reality: rents in Canada have surged by 8.2% year over year, marking the fastest pace since 1983! Moreover, for the first time in 60 years of records, income growth has trailed behind rents by a significant margin. These figures set the stage for a profound discussion with local Property Manager and founder of Greater Vancouver Tenant and Property Managment, Keaton Bessey.Adding to the narrative, November's Report from www.Rentals.ca highlights that the annual rate of rent growth in Canada was 9.9% in October, the second-fastest increase in the past seven months. Vancouver leads the pack with astonishing average rent of $2,872 for a 1-bedroom and $3,777 for a 2-bedroom, while Burnaby closely follows, surpassing Toronto at $2,647 for a 1-bedroom and $3,341 for a 2-bedroom.Armed with these facts, we delve into a series of questions with our esteemed guest, a seasoned property manager with 13 years of experience, to unravel the mystery of how we got to this point and whether it was an inevitable outcome as soon as home home prices began their surge.We shed light on the potential impact of the current economic conditions on the rental market and with signs pointing to a slowing economy, we explore whether lower GDP output and a possible recession could be key factors affecting rental prices. Will an economic downturn slow down rent increases, or is it fundamentally a supply-related concern?On the more contentious topic of rent controls, particularly in Vancouver, where opinions are divided, Keaton provides unique insights into whether rent controls work, and if not, what alternative solutions might exist to address the soaring rents and the city's distinction of having the highest average rent in the country.We also look at rent collection under the current economic climate as it's a great indicator of where the economy lies as well as we look examples of renters breaking leases and what it means for both tenants and landlords. We also put Keaton on the spot as we ask him to peer into his crystal ball as we explore predictions on future rental rates. Will they go up or down, and what factors contribute to this projection?Finally, the conversation touches on immigration and its impact on the rental market. Despite staggering immigration numbers, we explore why many newcomers don't transact until they earn their permanent residency as well as touching on how to rent to new commers and the steps you should take as a landlord to protect yourself. _________________________________ Contact Us To Book Your Private Consultation:

Despite record high drug-poisoning deaths in Yaletown, the city of Vancouver is closing an overdose prevention site on Seymour Street. So far, there is no guarantee that another site will be opened to replace it. Vince Tao is a community organizer with VANDU, the Vancouver Area Network of Drug Users. He joins us to talk about what led to the decision to close the site.

Experience the heart of Vancouver, where every corner echoes with the joyful barks and wagging tails of our beloved canines. From vibrant murals in Yaletown to ancient art, dogs have always been more than pets; they're symbols of love, loyalty, and companionship. As Vancouver showcases its profound bond with these furry friends, one wonders: Do they have a place in the afterlife? While mysteries remain, the love and lessons dogs offer are eternal. In a world of uncertainties, a dog's love is our unwavering constant. Embrace the joy and spiritual connection they bring; it might just unveil life's deeper truths.

Introducing Lendlord: Revolutionizing Real Estate Investment Analysis and ManagementAttention investors and realtors! Are you tired of spending endless hours analyzing investment properties? Imagine a platform that not only stores and tracks your entire portfolio but also provides real-time ROI insights. What if obtaining financing for your next project was as simple as clicking a button? Today, we unveil a game-changing solution that's both free and available right now.Developed by two visionary minds merging Tech and Finance expertise, Lendlord addresses critical challenges within the investment realm. I had the privilege of interviewing one of the creators, who offers an exclusive peek into the software's inner workings.Lendlord delivers an abundance of value to its users at no cost. Moreover, for those who stay tuned till the end, I'm excited to announce a special offer: a complimentary 3-month trial of the Premium version, complete with a plethora of enhanced features.Intrigued? Let's delve into the remarkable capabilities of the Lendlord platform, poised to revolutionize your real estate investment experience.Thank you for joining us today, and here's to prosperous investing with Lendlord!3 FREE MONTHS of the Premium Version here: https://lendlord.io/vancouver-life-real-estate-ca _________________________________ Contact Us To Book Your Private Consultation:

The Vancouver real estate market, is facing a persistent and thorny challenge with low inventory that shows no signs of abating. This week week we delve into the factors contributing to the prolonged shortage of housing in Vancouver, exploring the implications for potential buyers in the marketplace.Currently, the Vancouver market requires an influx of approximately 60% more inventory to achieve a balanced and sustained state. However, the phenomenon of low inventory is not a recent development here; it has been a consistent feature of the Vancouver real estate landscape over the past two decades. The city has experienced a sustained buyers' market only two times in the last two decades – during the Global Financial Crisis (GFC) and in 2012 for a combined total of 14 months. Interestingly, these downturns were not primarily due to a surge in listings but rather a decrease in buyer activity.The construction industry, the tip of the proverbial real estate spear, is showing a concerning downturn. Immigration, which was anticipated to boost the sector, has not produced the desired effects. Last month alone, the industry lost 44,000 jobs, marking a 4% decline over the past three months. The last time we saw a slump like this was during the Global Financial Crisis and the early 90s recession. Moreover, the residential building permits have plummeted, reaching the lowest level in over a decade.Shifting focus to overall unemployment, there's more to worry about. The unemployment rate has surged to 5.5% in the last month, increasing by 50 bps in just 3 months. Such an escalation is seldom observed outside of recessions. Also, the accuracy of these statistics should be questioned due to rapid population growth over the past year, potentially leading to an underestimation of the unemployment rate. Notable job cuts by Telus, RBC, and BMO area adding to the economic concerns.The topic of affordability also presents a gloomy picture. The 5-year bond rate has surpassed 4.1%, reaching a 15-year high. This has consequently driven up fixed rates by 12 basis points in a week, making homeownership even more unattainable. The affordability crisis has reached such an extent that even individuals earning over $100,000 per year are seeking assistance from organizations like Habitat for Humanity to secure rental units or purchase homes!How does this compare to Canada's other major market in Toronto? Join this weeks podcast and get the whole story! _________________________________ Contact Us To Book Your Private Consultation:

In July 2023, the Vancouver real estate market underwent significant changes, presenting a complex landscape for buyers and sellers. The month saw 2,455 properties sold, marking an impressive 29% increase from the previous year. However, this apparent surge in sales volume masked an underlying trend of consecutive declines in summer months, suggesting a slowdown in overall market activity. In fact, the number of sales was found to be 15.6% below the 10-year seasonal average of 2,909, signaling a potential shift in the market dynamics.A major challenge faced by buyers now is the scarcity of inventory. With only 9,639 properties available for sale, the market experienced a significant 16% drop in inventory from the previous year. This shortage has persisted for eight consecutive months, with the number of available properties remaining below the 10,000 mark! The limited inventory played a crucial role in driving up property prices throughout 2023, making it difficult for buyers to find suitable options and cratering affordability.Adding to the complexity for buyers, mortgage rates reached a 22-year high during this time. The combination of high rates and low inventory created a difficult environment for potential investors and first-time buyers, leading to a majority of sales being driven by existing homeowners looking to move.New listings in July 2023 brought some relief, with a 17% increase compared to the previous year, with 4,649 new properties entering the market. However, this optimism was dampened by the fact that sales volumes has now declined for two consecutive months, and the number of new listings was 5.2% below the 10-year seasonal average. These trends suggested that August's real estate data would likely show continuing lower listings, sales volume, and potentially even prices.Despite the challenging market conditions, property prices continued their upward trajectory. The Home Price Index (HPI) rose for the seventh consecutive month, with prices increasing by $7,000 in the last month alone. This represented a 0.6% increase from the previous month and a 0.5% increase from July 2022. Remarkably, the HPI was only 4% below the all-time high, indicating the market's resilience despite the high mortgage rates. Additionally,  the median price of homes rose by $20,000 to $978,500, and the average price increased by $3,000 to $1,274,000. _________________________________ Contact Us To Book Your Private Consultation:

City of Vancouver will not renew the lease for the Yaletown Overdose Prevention Site Christine Boyle, OneCity Vancouver City Councillor discusses the Vancouver's decision to not renew the lease for the Yaletown Overdose Prevention Site An update on the hunger strike against a pickleball court Rajneesh Dawan, Associate Professor of English at the University of Fraser Valley, and on a hunger strike provides an update on his hunger strike Why the BC NDP needs to enact vacancy control Murray Martin, Burnaby Co-Chair for BC ACORN - Association of Community Organizations for Reform Now discusses why the BC NDP needs to enact vacancy control Are the BC NDP serious about a provincial police force?  Rob Shaw, Political Correspondent for CHEK News discusses the probability of a provincial police force in BC Learn more about your ad choices. Visit megaphone.fm/adchoices

Christine Boyle, OneCity Vancouver City Councillor discusses the Vancouver's decision to not renew the lease for the Yaletown Overdose Prevention Site Learn more about your ad choices. Visit megaphone.fm/adchoices

The Bank of Canada (BOC) announced a 0.25% interest rate hike, marking the 10th increase since March 2022 and bringing the overnight rate to 5%, the highest in 22 years! The move comes as the Canadian economy, which has been stronger than expected, is expected to slow down due to the impact of higher interest rates. Although recent inflation rates have eased to 3.4% in Canada and 3% in the United States, the core inflation rate remains at 3-4% and has been more persistent than anticipated. The BOC now forecasts a return to its 2% inflation target in mid-2025, instead of the previously projected 2024.The increase in interest rates has had a significant impact on the bond and mortgage markets. The 5-year bond rate has surged to 4%, the highest since 2007, leading to fixed mortgage rates around 5.2% and variable rates around 5.9%. These rates are the highest in 15 years and have further challenged affordability, with monthly mortgage payments increasing significantly.The sentiment in the housing market has also shifted, as sentiment levels have dropped, resulting in reduced spending and housing demand. The labor market has shown signs of weakening, with the unemployment rate increasing over the past three months, which is the largest increase since 2019.Population growth in Canada has reached a record high of 1.2 million in the last 12 months, with non-permanent residents accounting for 60% of the increase. This has put extreme pressure on the rental market, with high rental rates and landlords resorting to renting out individual beds to meet the demand.In the Toronto market, sales have declined by 7% and inventory has increased by 19%. However, sales are still up 15% year-over-year, with a 20% increase in condo volume. Prices have risen by 2.5% in the last month and 9% in the past four months. The investment condo market has become less attractive for investors, with negative cash flow and decreasing rental returns.Looking at Calgary, the housing market continues to strengthen, with home sales rising 5% month-over-month and setting a record for the month. Sales in Calgary were up approximately 10% year-over-year, particularly in the condo segment, which experienced a 50% surge. Overall inventory is at a 10-year low, leading to increased prices.These developments indicate that the already financially strained marketplace is facing further pressure due to the recent interest rate hike, with talks of additional increases and higher rates for the foreseeable future. The housing and business sectors are likely to experience significant shifts if interest rates remain high for an extended period. _________________________________ Contact Us To Book Your Private Consultation:

This week we sit with George Martin of Well Balanced Designs. George is one of Vancouver's leading Design-Build experts, with over 46 years of experience in construction, renovations, and design projects. He is familiar with all of Vancouver's building types and materials, from Yaletown condos to Westside single-family homes to Kitsilano heritage homes and North Shore homes. Start listening to George's story now!

Vancouver, located on the southern Pacific coast of British Columbia, is one of Canada's most diverse cities. From Granville Island, through the neighborhoods of Yaletown, Gastown, and Chinatown, and on up to Stanley Park, there is truly something for everyone. And because Vancouver is the 4th largest cruise ship terminal in the world, chances are, … Continue reading Episode 423: Vancouver →

What a crazy year! Nothing tells the story of 2022 better than comparing the predictions we made at the start of this year with how they actually turned out. While we nailed a few predictions, we also had some significant misses as we review the year.Historically, this episode is always a lot of fun but especially this time around as no one saw the extreme change in headwinds coming like the Bank of Canada did.  Yes, we even reviewed their promise to keep rates low until 2023 and how long they let inflation run before acting. While we felt interest rates would be a part of the story, no one could have predicted how quickly they rose. We take a swing at inflation numbers, price predictions, lockdown probabilities and much more on this entertaining episode. Next week we make a whole batch of new predictions for 2023. _________________________________ Contact Us To Book Your Private Consultation:

2023 is going to be full of change in the Real Estate industry as we have two major introductions that will change the landscape. With the introduction of the Foreign Buyer Ban and the Cooling Off Period, it remains to be seen if these measures will help alleviate the pain felt by Buyers in a hot market. There's only one problem - there isn't a hot market to test these on and with the amount redundancy's that have been written into the new policy's we feel it'll create more pain and confusion than anything else. The Foreign Buyer Ban is a very controversial policy as the Government intends to exclude all foreigners for a period of 2 years from buying any real estate in Canada. And yet in the same breath the Government has increased our immigration targets by substantial margins to replace the aging workforce and declining birthrate in Canada (hello rental wars - just when you thought rent was expensive enough). Last week we discussed that by 2032, most of Canada's labor force will be foreign workers, and yet the very people who we need to work inside of our economy, who pay Canadian taxes, will not be allowed to buy Canadian Real Estate. Xenophobia is alive and well in Canadian politics. With all these changes coming compounded by a slowing marketplace there will be more hurt with further interest rate hikes expected in the new year. With that being said, it's likely we will see these rate hikes slow to some degree and hopefully lessen in their size. However, there will be a number of opportunities that will come out of all of these changes and if you listen until the end of today's episode, you'll see exactly what some of these look like and when you could expect to see them. _________________________________ Contact Us To Book Your Private Consultation:

This weeks podcast has us exploring the new rate hike thanks to the BoC's continued quantitative easing. While it's been difficult for many seeing rates up 400 basis points in 9 months - that's an eye watering 1,600% since the start of the rate hike cycle - and it has all but erased the credibility of the Bank of Canada who waited until inflation was at 6.7% before acting and indicated rates would be low until 2023. We explore the new debt levels faced by Canadians who have a whopping debt to GDP ratio of 117% or $75,000 per capita. These are the kinds of debt levels that will take a generation to pay off. As we look for solutions the only apparent saviour is immigration. Immigration has exploded this year as we hit 700,000 new immigrants in 2022 and 23% Canada's population (or 8.3 million people) were either permanent residents or immigrants before becoming citizens. Furthermore, immigrants now account for most of Canada's labour force and by 2032 most of Canada's increasing population base will be entirely new immigrants. As we close out 2022 and look towards more aggressive immigration targets in the years ahead, places like Quebec are reducing the amount of new immigrants (they will only take 10% as they intend to preserve their French Canadian heritage). This will eventually put more and more housing pressure on other metro's like Toronto & Vancouver in the years to come.Comparison as they say is the thief of joy - unless you're a Vancouverite comparing the housing market to our fellow Torontonians. Inventory levels are up 160% in some Toronto suburbs and while 2021 saw 12,000 pre-sale units sell, 2022 will end the year with about 3,000 pre-sales sold!! That's a jaw dropping fall off in sales volume. Furthermore prices have fallen beyond 20% in Toronto while Vancouver sits around 12-13% and inventory remains incredibly tight. For two major metros that often move in unison, we are starting to see the divergence of the marketplaces with Vancouver showing off its resilience in a difficult market. _________________________________ Contact Us To Book Your Private Consultation:

The Bank of Canada is set to raise rates, yet again, next week further impacting the already heavily stressed mortgage market.  Effective payments to pay for a typical home have doubled in the past 2 years and variable rate holders are feeling the pinch. We dive into what will happen next and when you can expect rates to start coming down. November stats are in and we look at the National level and at the local level whereby we look at inventory levels, sales volumes and what is happening to prices in Vancouver. Despite all of the recent action from the BoC and consumer confidence below that of the global financial crisis - how is it that prices have remained very consistent for the last 5 consecutive months?From there we take a broad look at national prices and inventory levels to see how they measure up to our local marketplace. Interestingly, we take a dive into the Bank of Canada's first recorded loss in its 87 year history and how they've painted themselves into a corner that's getting harder and harder to get out of. We review what was said and forecasted versus the actual outcome and what it means for markets going forward.This week is a loaded episode with some great macro and micro level data that you surely don't want to miss. With a rate hike coming next week here in Canada, we take a stab at what that rate hike looks like and how it will affect the market as we head into 2023. _________________________________ Contact Us To Book Your Private Consultation:

This week we hopped on the Pod with Vancouver Life Team Member & Whistler Specialist Auley Serfas to explore what it's like living and working in one of the most sought after resort towns in the world. With properties ranging $300,000 up to $30+ million dollars, Whistler has proven to be one of the most interesting and dynamic real estate markets that we have seen.Before Auley became a Realtor, she spent more than 20 years as a Property Assessor with BC Assessment Authority and was responsible for creating thousands of valuations for many different property types. In the conversation we discuss the relevancy of BC Assessments, how they are used and how they are often applied to real estate transactions. Furthermore, we explore what is currently taking place in the local Whistler market, what is happening at different price points and how important it is to know the distinction between Phase 1 and Phase 2 investment properties. With the introduction of the new Foreign Buyers Ban coming into affect in 2023 you'll want to know how that may or may not affect Whistler - especially if you've been considering a permanent move or vacation property investment.    _________________________________ Contact Us To Book Your Private Consultation:

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Inflation was the name of the game in this weeks update and while inflation numbers remained unchanged from the month before, sitting around 6.9% - that did beat expectations as they were predicted to rise. As of last months report, Canada now has the second lowest inflation rate of any G7 nation! However, seeing that inflation pressures didn't ease last month, it paves the way for another rate hike come December 7th with most analysts predicting somewhere between a 0.25% rise to a 0.50% basis point rate hike. The good news is that comments out of the BoC are also indicating that we are nearing the end of the recent rate hike cycle. This weeks Podcast episode references the Bank of Montreal's chief economist, Doug Porter and his economic outlook for Q1 2023. We look at the current state of Canada's GDP along with BC's GDP and what direction that will take in the new year. We also have an average inflation rate prediction from BMO for 2023 which was a little surprising but none the less fairly good news. Looking across the nation, we check in with several major metros from West Coast to East Coast to see what the Housing Price Index is for the average home in those respective cities along with how far prices have deviated throughout Covid from their long term pricing trend. This was very useful in descending just how out of whack pricing got in some regions. _________________________________ Contact Us To Book Your Private Consultation:

IT'S. TIME. Did we think we would be reviewing Cactus Club Cafe this soon into the podcast? Listeners, we did not. But our deep dive into the world of Vancouver Magazine's Restaurant Awards has only given us questions, not answers, which brings us to the Gold Medal winner for "Best Chain" since 2008, Cactus Club. And boy did you all have some opinions about it! And we were so baffled by the Best Chain category that we're sticking with it for one more ep. We're going to really taste the subtle nuances between Cactus... and JOEY. Don't forget to rate, review and subscribe, and above ALL else, tell a friend about the show!Follow our socials:InstagramTwitterDon't forget to rate, review and subscribe, and above ALL else, tell friends about the show! Follow our socials:InstagramTwitter

If you live anywhere else in Canada, it's pretty clear in today's market that without demand, the supply of homes will rise creating a decline in sales volume and that effectively helps to lower prices along with very low consumer confidence. With credit having been restricted through quantitative tightening at the most aggressive pace in recent history - affordability has reached heights we've never seen before and everyone is feeling the squeeze.  Toronto saw new home sales fall 96% last month - just 45 new homes sold in October, and only 250 new condos - in a region where 6 million people live this isn't good news for the market. So why is it that in Vancouver, under the same set of financial conditions, hasn't experienced the rise in inventory needed to bring prices down? In this episode we discuss the unique case of Vancouver's inventory, why it performs so much stronger than the rest of the market and how existing re-sale inventory will be a formidable problem for the market to tackle in the years to come. Is it any surprise that new home builders are getting hurt the most? With new layoffs announced in both Canada and the US, it's a sealer sign there's more pain to come. And let's not forget we need these very same people to help solve our housing crisis by building more inventory. They are now paying interest on their inventory they can no longer afford to pay. As this problem persists, expect to see these properties begin to sell as Builders are forced to bring their prices down to reduce their debt load in the short run. But at the same time, Developers will freeze projects or push them out until prices are restored and the environment improves. Looking at the longer term metrics, it's without a doubt that it will - Canada recently announced it is gearing up its ultra aggressive immigration policy. With more than 500,000 new Immigrants per year by 2025 - and the majority of those people will be technically skilled individuals immigrating to Canada to add to the workforce. As these people accumulate and new home builders freeze out the inventory and existing inventory not coming to market because home owners have locked in ultra low rates, we are poised for another housing boom on the other side. However in the short run, Buyers who can capitalize on this softening trend will thank themselves in the years to come. #vancouverrealestate #vancouverrealtor #vancouverrealestateagent  _________________________________ Contact Us To Book Your Private Consultation:

What a week for BC's Provincial and Municipal governments as both David Eby and Mayor elect Ken Sim are set to take over. With a huge push to change up the status quo of housing in the province and specifically in Vancouver, many local residents have spoken that they want, in fact they are demanding change with Ken Sim winning by a landslide. In this weeks Podcast episode we take a look at the housing platforms that both the New Mayor of Vancouver and the Premiere of BC intend to introduce. While we aren't convinced by any politician's promises, we are interested to see specifically what Ken Sim will bring to the table, His new policy around the time it takes to get a permit for renovations, new single family permits and multifamily permit construction will be of the upmost importance and could have a significant effect on housing if implemented effectively.. Seeing as David Eby was already the housing minister for the Province - we are a little disappointed that some of the items he's tabling haven't been dealt with to date.. we'll let you be the judge of that.We also break down where we think interest rates are headed not only for next week but also by the end of the year. We question why the media outlets are asking everyone to pay attention to CORE Inflation, a measuring stick that removes the most volatile commodities from the CPI Index but those very same commodities - food and energy - are the ones we use the most and are daily expenses we all encounter - so why aren't we measuring their impact on Inflation? Understanding why that matters and so much more can be found on this weeks podcast.  _________________________________ Contact Us To Book Your Private Consultation:

Making sense of what is happening inside our current Real Estate market is tough in today's environment. Sweeping comments in conversation or news articles that suggest “The Market” isn't doing well or that “Housing is Down” is no longer an accurate way of describing the housing sector - at least not in Vancouver. Take this little stat as an example: Vancouver currently has less inventory than it did this time last year; inventory actually dropped by 3% compared to September 2021 and is the third straight month of inventory declines in the GVRD. By comparison, Ontario's inventory count is up by a whopping 89%.In this week's podcast episode, we review the bizarre case that is Vancouver Real Estate and how it measures up to its historical performance in down markets. While HPI prices are generally down across the board by about 9.5% and the median price of a home is down by 12%, we've seen that slow dramatically. Prices have only adjusted down by 2% over the last 3 months showing signs of an early stabilization or at the very least less downward pressure than we initially saw some months ago. However, this is where the head scratching begins as the average price of a home in Vancouver actually rose by about $44,000 last month! Sounds like some good old supply and demand economics at play again. Unfortunately, the same can't be said for the Fraser Valley where median prices have fallen by 25% or an average price loss of (-$455,000). North Vancouver is down significantly by a similar amount (-$470,000 albeit in a more expensive market) and West Van detached is down on average by (-$627,000) per home. It's definitely no surprise that we are down -46% in sales volume year over year - largely driven by the cost of borrowing and unstable prices but like we've seen in the past, Vancouver is a resilient market and if you're thinking of buying a home in the foreseeable future here - take advantage of this time because if inventory continues to remain this low and the economy begins to correct - we know what kind of a market we'll be heading into.  _________________________________ Contact Us To Book Your Private Consultation:Dan Wurtele, PREC, REIA604.809.0834dan@thevancouverlife.comRyan Dash PREC778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

Is capping delivery fees enough to help local restaurants? Guest host Bruce Claggett talks to Ryan Goodwin, Owner of El Guapo in Yaletown

West Coast proves to be the best coast by signing climate agreement Guest: George Heyman - Minister of Environment and Climate Change A local brand is tackling climate change – one pair of underwear at a time Guest: Des Price - Co-founder and chief vision officer of BN3TH Apparel How will capping delivery fees support restaurants? Guest: Ravi Kahlon - Minister of Jobs, Economic Recovery, and Innovation Is capping delivery fees enough to help local restaurants? Guest: Ryan Goodwin - Owner of El Guapo in Yaletown

With the inflation print in Canada coming in lower than expected, there was some good news that the over sized rate hikes we've all been through over the last 6 months appear to be working. While this was largely driven by lower gas and commodity prices, things like food continued to inflate in price. It will take a significant amount of time before food prices begin to fall as it's the one commodity everyone must continue to spend money on, not to mention the global constraints on grain and other products from war torn countries. Car sales in the month of August hit a 23 year low as Canadians begin to reign in their discretionary spending. In many ways, the summer presents the most expensive time for fuel, food and recreational activities as many families took advantage of the first pandemic free summer in 2 years. As we move into fall and subsequently into the winter, expect more and more families to batten down the hatches on their discretionary spending as interest rates continue to climb. This will hopefully accelerate the outcome we are all hoping for.So what does this mean for housing? Buyers, if you've been holding off the time for you to start seriously considering a purchase is coming into play over the next 6-8 months. With every other headline reading a looming recession is coming next, the time to strategically position yourself is here. While to BoC continues to suggest they will avoid a recession (they've been wrong before), just about every other bank in Canada has stated otherwise. Furthermore the World Bank has also come out saying the possibility of a global recession in 2023 continues to grow as many of the developed nations with centralized banks began oversized rate hikes at nearly the same time. This level of global financial synchronicity has never been seen before and it will be interesting to see how it plays out. _________________________________ Contact Us To Book Your Private Consultation:Dan Wurtele, PREC, REIA604.809.0834dan@thevancouverlife.comRyan Dash PREC778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

With inflation print hitting 8.3% in the U.S. shedding only 0.2% from it's previous print is showing consumers continued to spend through the Summer (which was widely expected). The continued strength of the U.S. dollar continues to push the price of domestic products further reinforcing the inflationary cycle. The news was so impactful that the stock market had its worst day in over 2 years. We discuss why we feel the BoC isn't done raising rates and how its dual edge sword brings down prices while also restricting purchasing power and increasing the monthly cost of a mortgage by drastic amounts. It's largely expected that the Feds down south will raise their interest rates by 0.75% matching Canada's overnight rate of 3.25%. It's very possible we will see 4%+ interest rates by Q1 of 2023.Check out the tale of two stories as inventory climbs in Toronto and yet somehow here in Vancouver, inventory has shrunk as September is on pace to be the lowest sale month of any September on record. With median prices in Vancouver having fallen by about 14% and down a further 23% in Toronto, the housing price declines continue to slide. 

The BC government came out this week and capped rental increases by 2% - Renters say that's too much! And Landlords are incredibly frustrated as inflationary costs have inflated their cost of ownership by much more than 2%. Historically, the government has increased rates in unison with inflation, but this time around they have suggested a lift of that magnitude would only hurt the Renters. However, the housing providers, folks who have a rental suites that helps offset the cost of their rising mortgages and property taxes are left holding the bag.. often times renting their suites out at a loss. The long term affects of rental caps have historically proven to be more negative than positive. There's a consequential butterfly effect to these decisions and ultimately kicks the problems further down the road, creating a divisive point of contention between tenants and landlords. This is a result of not having enough housing stock, compounded by the time it takes to create homes in Vancouver - yet Landlords are having to pay the price. Vancouver has a massive housing supply issue and the largest provider of rental housing are investors and local property owners. While the government needs new rental stock they are handcuffing themselves and the providers they need so desperately for their stock. And with inflation being a bigger issue than rent control, expect housing providers to turn to services like Air BnB to make up the shortfall. Landlords will entertain more short term fixed tenancies so they can deal with inflationary pressures.Ultimately, Developers building market rentals for the city will back off from these building types and move to more capital friendly markets where rents are not controlled further restricting the supply of market rental housing. Alberta by comparison has 85% of the population that BC has and they have zero rent control - they also don't have a rental crisis. The move makes very little financial sense and puts unnecessary pressures on providers to come up with their own solutions. www.thevancouverlife.com

Mychal Ferreira, Mortgage Specialist from BMO,  joins us today on this special podcast where we discuss the impacts of the new 0.75% rate hike. With average mortgages in Vancouver being substantially higher than the rest of the country, Vancouverites can expect their variable rate mortgage payments to increase by another $350-$700 dollars per month - s staggering $4,000 to $8,000 increase in payments each year. Will this be enough pressure to force Sellers to reduce the prices of their homes on the market? Will it be enough pressure to erode disposable income so the economy slows down? Perhaps to some degree, but with recent GDP data showing the economy still running strong and over 1 million job vacancies, the idea of major sell off or panic selling is not something we are expecting.With another oversized rate hike announced today, it's pretty clear that the Bank of Canada does not yet have inflation under control and are continuing down the path of demand destruction and active wealth erosion. With the benchmark rate now hovering at 3.25% - a mere 0.25% away from the BoC's target rate and inflation proving to be less transitory than first believed, a future recession and further rate hikes is almost all but guaranteed at this point. Remember, it typically takes a full 18 months before we see the results of a single rate hike - let alone the 4 oversized rate hikes we've seen in the last 6 months.Historically, and over the last 30 years almost every time the BoC has risen rates by more than 1.5% we've seen a correction back down between 1.5% - 4.5%. So while rates continue their roller-coaster ride up, if history has anything to say about it, it's highly probable that within a similar time frame we will see the BoC reverse course. If you're a Buyer expecting to pick up a property from a grovelling Seller, they will be few and far between as many Sellers dig their heels in to combat raising rates while they wait for demand to return. And it will - with an aggressive immigration policy and inventory in Vancouver lower than it was this time last year, it's clear we have a supply issue mounting and an outcome we've seen before when rates begin to fall.Mychal Ferreira can be reached at:https://www.linkedin.com/in/mychalferreira/

With the Fall market on our doorstep, it's time to review how the summer market performed and what's in store for September and October. While we have just come out of a couple of the slowest months in 20 odd years, you would think the market is at a stand still. But with prices having dropped by more than 30% in some areas across the nation, Vancouver remains one of the most resilient marketplaces in North America with prices having only slid by about 7% according to the Housing Price Index. While we are expecting to see this number continue to drop by about another 2% in the foreseeable future, what's less clear is the bubbling activity behind it. Sales to Active Ratios (think of this number as the pressure gauge for the market) are on the climb across ALL property types and most noticeably in townhomes (rising by 5% month over month). The average ratio across all property types climbed 1.1% month over month putting the market back on the precipice of a sellers market and revealing that we still have a housing crisis on our doorstep. The underlying issues that created the housing crisis we've seen over the last decade will continue to persist even with an imminent rate hike that we'll see in September. With both local, national and international pressures applying themselves to the Vancouver market, expect to see more sustained pressure in the fall months as consumer confidence begins to recover. With anecdotal stories of our Agents going into multiple offers in the last few weeks, chronically low inventory and new listings reducing in numbers… where do the Buyers and the overheated rental market go from here as the search for shelter continues. Stay tuned for the SPECIAL RELEASE coming Sept 7th right after the BoC announcement. www.thevancouverlife.com

In this weeks' episode we explore where the CORE inflation is sitting and why we feel the result spells an almost certain .05% - 0.75% interest rate hike increase on September 7th. While it's debatable what the BoC will do, what isn't debatable is the huge drop in real estate prices we have seen in the last few months as a result of rising interest rates levels and inflationary pressures. Canadian home prices have fallen a staggering 9.9% nationally since the peak of the market in late Feb 2022. This is the steepest decline in recorded history, even surpassing the Global Financial Crisis of 2008 when prices dropped 9.1%. Toronto is without a doubt taking the brunt of it with prices down a concerning 13.2% and inventory up nearly 60%. Vancouver by comparison has only seen a correction of about 4.5% with much tighter inventory levels - in real terms, Vancouver's inventory is actually down from this time last year, it hasn't increased. While Inventory has generally climbed across the nation, we are sitting at only 3.4 months of inventory whereas the long term average is closer to 5 months.Immigration numbers are at all time highs and while housing starts are as well, they are far out from completing and continue to provide little relief in the face of an intense rental market. With more than 230,000 permanent residents having already arrived in the first 6 months of the year, expect Canadian immigration to continue to drive growth in the long term. With over 1 million job vacancies and skilled labour making up 56% of the available jobs, it's no wonder Canada remains one of the best options for skilled immigrants around the world.www.thevancouverlife.com

The government has long said it wants to create affordable housing for its citizens and has historically pushed developers and the communities they govern to design or ownership alternatives for it to approve. Those include co-op housing, leasehold land, income verified property and many other forms of “affordable ownership”. To be real, these do nothing but stigmatize property, they don't allot the same rights and privilege as those with a fee simple interest but rather dilute ownership under the guise of affordability. The government has never suggested that it lower its own development or building related permit fees - a cost that gets indirectly passed onto the consumer with each project that gets built. A new report by CMHC has concluded that the government is responsible for at least 24% of the average home cost BEFORE you consider property transfer tax or GST. Add those government fees to the equation and it rises to 33%! That's right, 33% of the cost of your new home is thanks to government fees. In Vancouver that translates to $180,000 in fees and taxes of a typical new condo. This is significantly more than any other party involved in the transaction. Without a doubt there needs to be some consideration for government fees as none of the work is free and development rules and guidelines need to be adhered to - but how did it become a third of the cost of an average condo in Vancouver? Today we explore the information, the hypocrisy and some solutions that could help reduce the cost to the community. www.thevancouverlife.com

 This week we tackle the new inflation print from our friends down south (US) and we take a macro look at the Real Estate Market across the country. As inflationary pressures begin to ease, we ask the question - Are we starting to see signs of relief or is this a bear trap that will lead to further downward pressures?The US Federal Reserve and Jerome Powell have been quoted as saying that they will not change the course of the current tightening of monetary policy until there's compelling evidence that we are headed back to their target policy rate of 2-3%. While a massive rate hike may be off the table come September, we still think there will be a sizeable interest rate hike - perhaps multiple - as we head towards the end of the year. We also cover the current state of the Real Estate Market in majors centres like Toronto which has seen an HPI (Housing Price Index) drop of 13%. A huge swing considering it's a lagging price indicator. What's worse, we are hearing stories of some markets in Ontario seeing price corrections as high as 48%! While inventory still remains tight in Vancouver, up just 5% - Toronto has a seen a whopping 58% increase in inventory. A recession is still very much a possibility with some asking the question if it's already here. Another major concern we discuss is that the Yield Curve on the Canadian 10 year Government Bond has fallen 50 basis points which now puts it below the 2 year yield. Analysts typically refer to an inverted yield curve as a strong indicator of a coming recession. With the BoC still targeting a policy interest rate of 3.5% (currently sitting at 2.5%) it's possible we'll see a recession before the end of inflation. www.thevancouverlife.com

The biggest take away from the July real estate numbers is the 43% decline in sales volume. This comes in a full 35% below the 10 year average, which more dramatically demonstrates the current landscape.   Equally as notable, new listings dropped 25% last month contributing substantially to the decrease in total inventory.    That number dropped for the first time in 6 months and speaks to the market ‘freeze' that we're in right now.   Both buyers and sellers are on the sidelines watching with bated breath. The result of these numbers is that the GVRD has entered a Balanced Market for the first time in almost 3 years, furthermore, detached homes are actually in a Buyers Market.   Rejoice?   Well - not so quick.   The recent interest hikes have pushed buying power down 25% when looked at from a monthly payment perspective.  Meaning prices would have to drop 25% from the peak to have an equal mortgage payment as it was before the rate hikes took place this year. So where are prices?   Well the HPI suggests a 4.7% decline from the March peak, whereas the Median and Average are closer to 11%.    Not nearly the 25% some buyers are hoping for.Looking forward, we can expect August numbers to look quite similar, with prices dipping further.   It will take until September to see volumes pick up, though those will be dampened with the expected 0.5% interest rate hike by the Bank of Canada on September 7th.   Rates will fluctuate, they always have.   So think of it this way, you marry your house, but you date your rate.  So make sure you love your home, and know that the only constant is change. www.thevancouverlife.com

In this episode we take a look at what our economy is doing from a National perspective. Some of the key take aways here include signs that we are seeing inflationary pressures beginning to ease, Bond Yields are continuing to come down and housing starts are beginning to increase again while we deal with sky rocketing rental increases. Home sales in the month of June and no doubt in the month of July are down by a serious margin (-33% in BC and -36% in Ontario) and continue to stall out the market. While prices are coming down, it appears as though inventory is holding strong and hasn't risen with only 3.1 months of inventory on the market. With strong national unemployment at 4.9% and record levels of immigration (over 400k) the fundamentals still look strong. Locally speaking, we have entered into a Balanced market which is something we haven't seen since January 2020! The median home price is also holding strong at 900k - although we suspect that will continue to fall as the Fed's continue to raise rates throughout the rest of the year. BC is down 33% in home sales year over year and while BC's inventory climbed +21% - the GVRD's inventory remains largely unchanged. It's crazy to think that just a year ago, households were paying just 2.5% average interest rates across ALL outstanding debt....credit cards, auto loans, mortgages, HELOCs....all of it but with higher interest on credit cards, rising levels of insolvencies (still low but rising), negative wage growth, falling prices and more expensive mortgages - Consumer confidence in Canada's housing sector has fallen off the map. If you bought a house today with prevailing rates, you are paying 55% more in payments for the same home than you would have just 10 months ago.Activity levels across major real estate offices is down on average by 15% and climbing - this is mostly because of the rising costs of borrowing and the continued cooling of home sales across the country. With the re-sale property market accounting for nearly 10% of our country's GDP, it's all but certain that a recession for part of 2023 is on our doorstep with the Central Banks attempt to control inflation.  www.thevancouverlife.com

Travis Darke from IG Wealth Management sat with us this week to discuss where he is seeing the smart money being invested during these uncertain times.      We look at which type of investments benefit from a rising interest rate environment and how a long term focus is till the most prudent strategy.

Wednesday's 100 basis point hike to the overnight interest rate brings the total increases this year to 2.25%.   This will understandably have a profound impact on housing prices.     The monthly payments to purchase the same home in January compared to today are up $1,100, or 52%.   The rising rates have already seen around a 20% decline in prices in the GTA, and here in Vancouver, around 11%.The full effects of the recent rate hike have yet to be felt.   Plus, current indications are that rates will be raised to 3.75% by year end, adding another 1.25% before the Bank of Canada levels off.    The word Recession has become predominant recently, though the robust job market is doing its best to hold it at bay.  June produced the lowest employment rate in recorded history, coming in under 5% for the first time ever.  There is no question property prices are going to go lower in Vancouver - current estimates point to 15% HPI.  With the cost of borrowing up, this isn't making homes more affordable, as monthly payments for the lower price home are as high as the higher priced home with lower rates.      Cash buyers are the real winners here.www.thevancouverlife.com

The Bank of Canada surprised everyone this morning raising interest rates a full 100 basis points - the largest single increase in 24 years.   We've now seen rates increase by  2.25% in just 5 months, radically transforming the lending landscape and housing.Buying power is down over 20% and mortgage payments compared to January of this year are upwards of 50% higher.  Understandably, this is going to drastically affect house prices.   Already down 13% from the February high, you can expect prices to drop further - likely to the tune of 20% or more.Mychal Ferreira, the number 1 mortgage specialist for the Bank of Montreal in Canada, joins us on this episode to discuss how the recent rate hikes affect those with existing mortgages, those about to renew and for people thinking about buying a home. Buckle up, things are changing fast.Contact Mychal Ferreirahttps://www.linkedin.com/in/mychalferreirahttps://www.instagram.com/mychalferreira/

Home sales dropped 35% from this time last year in the Vancouver area,  and a full 43% in the Fraser Valley.   Toronto saw a similar decrease at 41%.    This is the third consecutive month of declines where the sales sit at 23% below the 10 year average.       The landscape is now vastly different than it was 3 months ago when buyers lined up to compete for the same home.  Now, homes are sitting, prices are dropping, properties can be negotiated, and yet, buyers aren't interested.   Of course the rising rates have been the largest contributing factor, but oddly, all the cries for more homes and less competition have been heard, and the buyers are gone.  Perhaps sidelined is a better term.     With rates rising at the fastest rate in history, with the Bank of Canada increasing further next week, there is a feeling of 'shell shock' in the industry.   Buyers have pulled back to see where things will settle.  On top of this, many people have seen a tremendous amount of wealth eroded in the stock market.    Lastly, we're about to enter the typically slower summer months where minds shift away from real estate and more towards enjoying the weather.In this episode we look into the June numbers, share predictions on where prices are going next, and discuss recent Mortgage Rate Drops,  yes DROPS, that are already taking place in the States.www.thevancouverlife.com 

February 2022 has proven to be the most recent peak of property prices in Vancouver, which have since dropped 10%.  (That is in reference to the Median & Average prices - the HPI, a lagging indictor, will follow in the upcoming months.)   The majority of this drop happened last month, to the tune of around 5%.Inventory though was a surprise in June, after increasing by 14% in April and 10% in May, it only increased by 2.5% in June.   Plus, we're now going into what looks to be a fairly typical summer where activity levels will be low - and new listings few and far between.     This could keep the sales ratio just at or above the sellers market position for the next couple months.But will anyone buy?   And will prices keep going down?     Global wealth is being eroded, at the estimated amount of $13 Trillion year to date, and this is definitely being felt in Vancouver as well.    Plus, we are less than 2 weeks away from another rate hike, further diminishing buying power.   There will be more pain in the system before things turn around. So what's next?   More inflation?  A recession?  Stagflation?   Right now it could go any one of those routes - and yet, here comes more money printing.    Have we really not learned our lesson yet? www.thevancouverlife.com 

Inflation hit a 40 year high this week reaching 7.7%, with food and fuel driving the gains. Mortgage rates continue their northern ascent with fixed rates at or above 5%, and variable expected to rise to the realm of 4.5%. Mortgage payments on your typical Canadian home are up $1,000 per month, or 60% in just 9 months. Yet the Bank of Canada is set to raise rates at the July 13th announcement with 90% of Economists predicting a 0.75% increase. This will affect housing deeply with prices and sales already falling fast.National homes sales are down 25% from last year and HPI prices ticked down for the second month in a row - not seen since 2019.Meanwhile, job vacancies in Canada surpassed 1,000,000 - and Permanent Residencies were handed out to 64% more people than last year to date.CMHC stated that 5.8 million homes are needed by 2030 just to start bringing prices down, while the actual is predicted to be closer to 1.5 million - meanwhile the Canadian Government is looking to put 3.6 million new people into the country over the same timeframe.So while the focus is all on inflation right now, when the cycle turns back up, the housing shortage issue will be there ready and waiting.www.thevancouverlife.com

Vince Taylor is our guest on this episode and he brings with him an immense amount of knowledge, and experience, in the real estate market.  Having seen 5 major market cycles in his life, and as someone who bought his first Vancouver home for $67,000, Vince provides an almost contradictory outlook on the market then what you will hear on the news.  He gives his opinion on how prices will fall, and when and by how much they will rise after, he shares the key fundamentals that point to his predictions and shares where the true opportunities are in this type of market.  For more information on Vince Taylor, President of Pilothouse Projects, please visit: https://pilothouseprojects.com/----  www.thevancouverlife.com

Inflation hit a 40 year high in America this week, reaching 8.6%.    The ramifications of this were instantly felt with the stock markets dropping sharply.  Canada's next CPI announcement will almost certainly print higher when they announce on June 22nd.    Should there be an increase, a 0.50% increase at the July 13th seems like a lock, with rumours already spreading that the BoC may go with 0.75%.   This puts the overnight rate between 2% to 2.25% up from 0.25% earlier this year.    Understandably housing is being impacted - sales are down 34% in 3 months in Toronto, and Vancouvers median price is down 10% from the February peak.   With inflation still rising, but housing dropping fast, how much further can rates rise before things really break?www.thevancouverlife.com

The effects of the interest rate hikes are being felt as home prices dropped 5% in May.    This was prior to the June 1st hike of an additional 0.5% that will further add downward pressure on prices as purchasing power has been eroded to the tune of 15%.   Inventory surpassed 10,000 for the first time in 10 months and detached homes entered into a Balanced Market for the first time in 2 years.    We did into the May numbers and let you know what to expect in the upcoming months, plus we give our insights into how much we expect prices to fall for the remainder of 2022. www.thevancouverlife.com