Mindblown: a blog about philosophy.
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The Impact of Vancouver Empty Home Tax
The Canadian housing market faces a severe imbalance, with supply lagging behind surging demand. Vancouver’s vacant home tax increased housing availability but did not spur new constructions or lower rents.
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2,600 new homes to be sold at 60% market value in Vancouver
Up to 2,600 new housing units are planned for the Heather Lands in Vancouver, to be sold at 60% of market value, prioritizing first-time homebuyers. The B.C. government will finance 40% of the purchase price, with buyers covering the remaining 60% under a 99-year lease. The initiative targets middle-income buyers who meet specific residency and…
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Easy Money Era Ends for Metro Vancouver
Vancouver property taxes rose by 7.5% this year, with another 7% increase expected in 2025. Cities relied on rising Real Estate prices and development fees to freeze property taxes, but market conditions changed.
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National Day for Truth and Reconciliation
National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences. It's a symbol of Canada's commitment to reconciliation with Indigenous communities. Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools. May this day inspire a future where every voice is heard, and every spirit…
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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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