Reactions to latest increase in interest rates
Posted on Jul 13, 2023
The latest interest-rate increase by the Bank of Canada to five per cent, the highest it has been since 2001, is not helpful for the real estate industry.
The nature of the preliminary market response and the discussions in the last couple of weeks among experts has left the impression that interest rate are maxed out so there doesn’t seem to be a...
A look at ‘repurposing’ downtown office space
Posted on Jul 09, 2023
There are high rises, and there are high rises. Some are for offices, the others for apartments. Generally, downtown areas have a generous supply of both. At least Vancouver does.
The pandemic resulted in more office employees “working from home” and many of them liked it so much that it has turned into a semi-permanent — or in some cases permanent...
Construction trades a good career path
Posted on Jun 25, 2023
If you have — or if you know — somebody who’s trying to decide on a career path, it might be a good idea to point them in the direction of building houses. Of course, that means anything connected to building a house: electrician, flooring specialist, general contractor and any number of trades.
As the country’s population hit 40 million people this...
Could this real estate market theory apply here?
Posted on Jun 18, 2023
There are analysts and specialists, economists and theorists, all with suggestions or sometimes predictions about where the real estate market is going. This is far from an exact science and often results in multiple projections that can be at odds with each other.
The bottom line is it’s too complicated for even the best of them to be certain about...
Return of the interest rate increase
Posted on Jun 07, 2023
Perhaps most people were a little smug about this week’s interest rates announcement, taking for granted that nothing was going to change because that’s the way it has been since January. Stability seemed inevitable.
Not so fast, said the Bank of Canada.
Surprising many, the Bank increased its overnight rate to 4.75 per cent, a bump of .25 per cent.
I...
Housing starts: 10 municipalities first in line
Posted on Jun 04, 2023
The Provincial Government has revealed the first 10 municipalities that will be expected to “up their game" when it comes to building new housing faster.
The first 10 municipalities identified are those with the greatest need and highest projected growth, determined by measures that prioritize the urgency of local housing needs. Land availability a...