Mindblown: a blog about philosophy.
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Vancouver Real Estate Prices Slip As Sales Fall 26% Below 10-Year Average
Greater Vancouver's real estate market is showing signs of decline, with composite home prices falling for the third consecutive month. In August, the benchmark price dropped 0.1% to CA$1,195,900, marking a 0.9% decrease over the past year. Home sales were 26% below the 10-year average, with only 1,891 transactions recorded. Inventory levels are rising, with…
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Balanced Greater Vancouver Market After Rate Cuts
There's a significant uptick in the number of properties listed, suggesting a well-supplied market.Indications of a cooling market as inventory rises without a corresponding increase in buyer activity.
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Potential of Laneway Homes in Vancouver’s Housing Market
Builder Advocates for Sales: Suggests allowing laneway home sales to potentially create 30,000 new units in Vancouver.Regulatory Limitations: Existing rules restrict laneway homes to rental purposes, reducing incentives for homeowners.
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Single family detached home prices in Burnaby surpass average of $2M
Burnaby's benchmark prices for single-family detached homes exceed $2 million, with Burnaby East rising 3.2% to $2,007,200, while North and South saw slight declines. Residential properties also decreased, with Burnaby South townhouses dropping 3.5% to $1,050,100. Total sales in Greater Vancouver fell 17.1% to 1,904, despite a 4.2% increase in listings. Sales remain about 20%…
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Why Metro Vancouver Is Heading to a Buyer’s Territory
Metro Vancouver's Real Estate market has seen rising inventory and a jump in sales, suggesting a shift towards a buyer's market. The market is segment-specific: condo inventories are rising, while well-priced detached homes and duplexes still receive multiple offers
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Vancouver Remains Attractive to Investors
Vancouver's cap rates are among the lowest in Canada, indicating lower risk and potential high returns.Cap rates expected to remain stable for Q3 2024.
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Construction starts on long-awaited Burnaby affordable rental development
Construction has begun on a non-market rental housing project at 3838 Hastings St. in Burnaby, expected to be completed in 2026. The development will feature 161 apartments, including studios and one- to three-bedroom units, along with a 74-space child-care center operated by the YMCA. Approximately 70% of the units will be affordable for low-income households.…
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Burnaby gets a failing grade on transit-oriented housing
Goodman Commercial Inc. has given Burnaby an F for its refusal to comply with new provincial housing legislation, raising concerns among developers about housing projects in the city. While Burnaby approved other housing changes, it has resisted participating in the provincial plan. The report highlights a significant increase in development costs, with new apartments now…
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Vancouver Rentals Still Most Expensive in Canada
Vancouver and Burnaby remain the priciest rental markets in Canada despite year-over-year declines.Vancouver's one-bedroom rentals dropped 7.7%, and two-bedrooms fell 5.6% year-over-year.
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Vancouver: What’s Driving the Prices Up?
Land Speculation: Global investors and speculators drive up land prices, making housing less affordable. Limited Supply: Restricted land availability and zoning regulations constrain housing supply, pushing prices higher.
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