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เนื้อหาจัดทำโดย The Vancouver Life Real Estate Podcast เนื้อหาพอดแคสต์ทั้งหมด รวมถึงตอน กราฟิก และคำอธิบายพอดแคสต์ได้รับการอัปโหลดและจัดหาให้โดยตรงจาก The Vancouver Life Real Estate Podcast หรือพันธมิตรแพลตฟอร์มพอดแคสต์ของพวกเขา หากคุณเชื่อว่ามีบุคคลอื่นใช้งานที่มีลิขสิทธิ์ของคุณโดยไม่ได้รับอนุญาต คุณสามารถปฏิบัติตามขั้นตอนที่แสดงไว้ที่นี่ https://th.player.fm/legal
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Invest In Real Estate The Modern Way

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เนื้อหาจัดทำโดย The Vancouver Life Real Estate Podcast เนื้อหาพอดแคสต์ทั้งหมด รวมถึงตอน กราฟิก และคำอธิบายพอดแคสต์ได้รับการอัปโหลดและจัดหาให้โดยตรงจาก The Vancouver Life Real Estate Podcast หรือพันธมิตรแพลตฟอร์มพอดแคสต์ของพวกเขา หากคุณเชื่อว่ามีบุคคลอื่นใช้งานที่มีลิขสิทธิ์ของคุณโดยไม่ได้รับอนุญาต คุณสามารถปฏิบัติตามขั้นตอนที่แสดงไว้ที่นี่ https://th.player.fm/legal

In this episode of the Vancouver Life Podcast we dive into the innovative realm of real estate investment with our guest, Jonathan Fireman. Jonathan shares his vision behind Investium, a platform aimed at democratizing real estate investments by facilitating collective property purchases. This approach aims to make real estate investment more inclusive and accessible, especially for first-time investors and homebuyers.
Jonathan highlights the common hurdles investors face, such as capital limitations and the daunting task of managing properties. He stresses the importance of partnerships in overcoming these obstacles, allowing investors to pool resources, knowledge, and skills to achieve their financial goals. We discuss the evolving interests of investors, noting a shift towards larger, development-focused projects as a result of collaborative investment efforts.
The conversation also touches on the critical aspect of due diligence and establishing transparent, trustworthy partnerships within the real estate investment sphere. Jonathan emphasizes the necessity of aligning with partners who share similar visions and intentions, suggesting early, small financial commitments as a means to gauge compatibility and commitment.
Investium, as Jonathan outlines, is not just a platform for connecting investors but also a community where serious, long-term investors can find like-minded individuals and embark on substantial projects, avoiding the pitfalls of solo ventures. He encourages listeners to explore Investium and reach out to him directly for guidance on navigating the platform and forming fruitful investment partnerships.
This episode sheds light on the power of collaboration in real estate investment, offering insights and tools for individuals looking to expand their portfolios and venture into new markets with the support of a community-driven platform.
www.investium.ai
_________________________________

Contact Us To Book Your Private Consultation:

📆 https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA

604.809.0834

dan@thevancouverlife.com

Ryan Dash PREC

778.898.0089
ryan@thevancouverlife.com

www.thevancouverlife.com

  continue reading

260 ตอน

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iconแบ่งปัน
 
Manage episode 402376569 series 2982507
เนื้อหาจัดทำโดย The Vancouver Life Real Estate Podcast เนื้อหาพอดแคสต์ทั้งหมด รวมถึงตอน กราฟิก และคำอธิบายพอดแคสต์ได้รับการอัปโหลดและจัดหาให้โดยตรงจาก The Vancouver Life Real Estate Podcast หรือพันธมิตรแพลตฟอร์มพอดแคสต์ของพวกเขา หากคุณเชื่อว่ามีบุคคลอื่นใช้งานที่มีลิขสิทธิ์ของคุณโดยไม่ได้รับอนุญาต คุณสามารถปฏิบัติตามขั้นตอนที่แสดงไว้ที่นี่ https://th.player.fm/legal

In this episode of the Vancouver Life Podcast we dive into the innovative realm of real estate investment with our guest, Jonathan Fireman. Jonathan shares his vision behind Investium, a platform aimed at democratizing real estate investments by facilitating collective property purchases. This approach aims to make real estate investment more inclusive and accessible, especially for first-time investors and homebuyers.
Jonathan highlights the common hurdles investors face, such as capital limitations and the daunting task of managing properties. He stresses the importance of partnerships in overcoming these obstacles, allowing investors to pool resources, knowledge, and skills to achieve their financial goals. We discuss the evolving interests of investors, noting a shift towards larger, development-focused projects as a result of collaborative investment efforts.
The conversation also touches on the critical aspect of due diligence and establishing transparent, trustworthy partnerships within the real estate investment sphere. Jonathan emphasizes the necessity of aligning with partners who share similar visions and intentions, suggesting early, small financial commitments as a means to gauge compatibility and commitment.
Investium, as Jonathan outlines, is not just a platform for connecting investors but also a community where serious, long-term investors can find like-minded individuals and embark on substantial projects, avoiding the pitfalls of solo ventures. He encourages listeners to explore Investium and reach out to him directly for guidance on navigating the platform and forming fruitful investment partnerships.
This episode sheds light on the power of collaboration in real estate investment, offering insights and tools for individuals looking to expand their portfolios and venture into new markets with the support of a community-driven platform.
www.investium.ai
_________________________________

Contact Us To Book Your Private Consultation:

📆 https://calendly.com/thevancouverlife
Dan Wurtele, PREC, REIA

604.809.0834

dan@thevancouverlife.com

Ryan Dash PREC

778.898.0089
ryan@thevancouverlife.com

www.thevancouverlife.com

  continue reading

260 ตอน

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The final numbers for Canada’s housing market in 2024 are in, and they've revealed some unexpected trends. Despite challenges such as high interest rates and declining housing starts, national home prices rose by 2.5% last year, bringing the average home price to $676,640. Every province and territory saw price increases except for Ontario, which experienced a modest 1.7% decline. The Northwest Territories led the nation with a remarkable 34.8% price increase, followed by New Brunswick at 15.5% and the Yukon at 12.8%. British Columbia also performed well, with home prices rising by 5.9%, while Alberta saw solid growth of 9.4%. Ontario’s slight decline, however, masks significant issues in the pre-construction condo market, particularly in Toronto, where sales hit a 28-year low in 2024. Newly constructed condos flooded the market, driving prices down by 10-15% or more in some cases as sellers undercut each other. Yet, when viewed at the provincial level, Ontario’s overall housing market showed resilience, with a decline that remains manageable by most standards. Meanwhile, inflation continues to ease, as the latest Consumer Price Index (CPI) print came in at 1.8%—the second-lowest reading in 46 months. This marks a slight decline from December’s 1.9% and the 16th consecutive month of cooling mortgage interest costs, which dropped from 13.2% to 11.6%. Rent inflation also eased, falling from 7.7% to 7.1%. Inflation has now remained within the Bank of Canada’s target range for 12 straight months, with the broader CPI reading excluding mortgage interest costs coming in at just 1.3%. These metrics, coupled with a strong employment report, suggest the Bank of Canada may lower interest rates at its next meeting, with markets currently pricing in a 0.25% cut that would bring the overnight rate to 3%, its lowest level since August 2022. This data reinforces the importance of understanding how hyper-local real estate markets operate. For instance, in Vancouver’s Mount Pleasant East neighborhood, half duplexes reached their highest prices ever in 2024, climbing 7% above the 2022 peak. By contrast, condos in the same area are 3% below their peak prices, and detached homes are down 9%. These variations emphasize the need for precise, localized market insights when making real estate decisions. Next week we have Mr. Doug Porter, the Chief Economist for the Bank of Montreal coming back on the show to discuss how he sees the Canadian economy shaping up for 2025 _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
This week’s episode is packed with crucial updates and insights that could directly affect your real estate decisions in 2025. A much stronger-than-expected jobs report has thrown a wrench into predictions for interest rate cuts, potentially keeping the Bank of Canada on hold this January. With Canada adding 91,000 jobs last month, (far exceeding expectations) compounded by labour market strength is complicating the case for lower rates. However, not all is as it seems: 62,000 of those jobs went to workers over 55, and a significant portion came from public sector growth (44%!). We break down what this could mean for mortgage rates and why the 5-year bond yield is already climbing. In Vancouver, affordability continues to be a challenge as recent policies are expected to push home prices higher. On the flip side, there’s good news out of Burnaby, where one of the first multiplex building permits has been approved. The timeline, fees, and offsite costs surprised even the developer—and might give hope to those exploring small-scale development opportunities. We also tackle the ongoing affordability crisis, exploring how the ban on natural gas in new construction and new net-zero mandates are inflating the cost of homes. For example, a fourplex project now have an additional $150,000 for electrical upgrades, adding roughly $40,000 to the cost of each unit. These policy changes are a stark reminder to “watch what they do, not what they say” when it comes to government claims about building affordable housing. Meanwhile, mortgage arrears are also starting to climb, with delinquency rates hitting a 9-year high in Toronto. Yet even as the headlines grab attention, the data tells a different story—arrears remain well below pre-pandemic levels, and the overall risk of panic is low. However, with 50% of mortgage holders set to face higher payments over the next two years (in excess of 30+%), it’s clear that financial strain is building for many Canadians. We also take a closer look at the nearly 30% of homes listed for sale that are vacant. Are they former Airbnbs, second homes, or properties listed to dodge the vacancy tax? It’s a fascinating trend that raises more questions about the current state of the market. And to cap it off, we’re excited to showcase a stunning family home on Vancouver’s prestigious Golden Mile in Kitsilano. Located on West 1st Avenue, this property boasts breathtaking ocean views, over $1 million in renovations, and one of the most luxurious primary suites you’ll ever see. Don’t miss this incredible listing—check it out at www.3262W1st.com _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
In this episode, we explore our predictions for the 2025 Vancouver Real Estate Market, diving deep into the economic and financial trends that will shape the year ahead. With Canada’s GDP growth expected to remain moderate, driven by immigration and resource exports, the potential for a mild recession looms if elevated interest rates continue to slow consumer spending and business investment. We analyze the possibility of economic turbulence while discussing key signals in sectors like housing, manufacturing, and retail. Meanwhile, Canada’s population growth is expected to drop considerably from before but will still be pushing the annual growth, to what extent remains to be seen. This sustained influx will fuel housing demand but could strain infrastructure and services. On the employment front, the unemployment rate, currently at 6.8%, is projected to remain somewhat stable within the 6.5%-8% range. While population growth could create new job opportunities, sensitive sectors like construction and tech may see some challenges. Inflation, sitting at 1.9%, is anticipated to close the year between 2.0% and 2.5%, assuming stable monetary policy and limited disruptions in energy prices or supply chains. This outcome largely depends on US trade policy which has yet to be sorted out. The Bank of Canada’s interest rate, currently at 3.25%, is forecasted to ease slightly by year-end if inflation targets maintain and economic growth softens. In tandem, mortgage rates are likely to decline as well, with variable & potentially fixed rates dropping too. Despite these adjustments, Canada’s mortgage arrears rate, historically low at around 0.15%, may see a slight uptick as households adjust to higher payments on renewals. Turning to real estate, we predict a steady recovery in sales volumes, with activity returning near the 10-year average, barring any significant rate fluctuations. The sales-to-active listings ratio which is currently signaling balanced market conditions may tick up into a Seller's market with more interest rate fluctuations. Inventory levels may see modest growth too as many who did not sell in 2024 will return to the market to try again. In the pre-sale market, developers are projected to cautiously release new projects, reflecting a gradual increase in buyer confidence. After an 8% decline in rental rates during 2024, the rental market is expected to stabilize though this will largely depend on immigration levels and the overall performance of the economy. In this episode we also highlight the top markets poised to outperform the Greater Vancouver region in 2025. We look at Surrey and Langley as they continue to attract buyers with affordability and infrastructure investment among a list of other locations that we strongly endorse. Tune in and find out which areas those are! This episode provides a comprehensive roadmap for navigating the opportunities and challenges of Vancouver’s 2025 real estate market. Whether you’re a buyer, seller, or investor, these insights will help you stay ahead in a shifting landscape. Tune in to learn more about what to expect and how to make informed decisions in the year ahead or book a one-on-one exploratory call with us and we'll help guide you through this recovering marketplace. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
Welcome to the first episode of The Vancouver Life Real Estate Podcast for 2025! As we kick off the new year, we start this year by reflecting on an intriguing 2024 in Greater Vancouver real estate. Today, we’re unpacking December’s freshly released market stats, analyzing how 2024 wrapped up, and exploring what’s on the horizon for 2025. This is a special double-header episode where we’ll revisit our 2024 real estate predictions to see where we were right, where we missed the mark, and what new trends are setting up 2025 to be a dynamic and potentially surprising year. Highlights from December reveal some fascinating trends. Sales reached their highest December total in three years, up 32% year-over-year, though still 15% below the 10-year average. New listings surged 26% year-over-year, marking the highest December total in three years. Inventory remains elevated, with December’s levels the highest since 2018 and 25% above the 10-year average• The Sales-to-active ratios show balanced market conditions for the eighth consecutive month, with townhomes and apartments pushing us into the upper limits of a Balanced market. In terms of pricing, Vancouver’s housing market defied more pessimistic predictions, with all three price metrics—HPI, median, and average prices—rising year-over-year. Notably, median prices climbed 4.5%, just 2% shy of the all-time high. As we dive deeper, we’ll also compare Vancouver’s performance to Toronto’s market and national trends. While BC lagged behind the national average home price increase of 7.4%, it still holds the title for the highest average home price in Canada. Tune into the rest of the episode and find out where we right and where we went wrong as we review the predictions we made for 2024. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
Welcome to a special holiday edition of The Vancouver Real Estate Podcast! As we wrap up 2024, we’re thrilled to celebrate a major milestone—our channel hitting 5,000 subscribers on Christmas Day, doubling in size over the past year! This achievement means the world to us, especially for such a niche channel, and it’s all thanks to you—our viewers who have tuned in, shared our videos, and subscribed. As we move into 2025, we’re committed to improving the channel, fostering open conversations about Vancouver real estate, and connecting 1-on-1 through our Calendly link. Looking back, 2024 was a year of housing promises from all levels of government. Initiatives like Bill 44, which aimed to densify single-family neighborhoods, faced hurdles like municipal pushback and high taxes & community contribution fees. The federal Housing Accelerator Fund & Trudeau promised over 3.9 million homes but has yet to deliver any completed builds. CMHC raised its mortgage insurance limit to $1.5 million, which helps buyers access more expensive homes but doesn’t address affordability. Meanwhile, policies like the anti-flipping tax are unlikely to curb rising prices but may reduce the supply of renovated properties, exacerbating the supply-demand imbalance. The market also saw significant struggles, with pre-sale projects shelved, developer insolvencies up 36% year-over-year, and building permits near all-time lows. On the brighter side, 2024 marked the first-interest rate cuts in over four years, which has started to provide relief for buyers and developers alike. Inflation remained below 3% throughout the year, though maintaining this stability amidst global uncertainty will be a challenge, particularly with political shifts like the return of Trump and Canada’s federal leadership changes. The Airbnb ban disrupted short-term rental markets, while stricter renters’ policies continued to deter smaller investors, limiting rental supply. As we head into 2025, the focus must shift from adding more policies to addressing the root issue: increasing housing supply by removing red tape and, ideally, reducing government fees and taxes. Thank you again for helping us reach 5,000 subscribers, and we look forward to continuing this journey with you. Join us next week for a recap of December’s stats, and don’t miss our 2025 predictions episode on January 11. Happy Holidays, and we’ll see you in 2025! _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
You’d think the housing world would quiet down by mid-December, but this week has been packed with significant developments. Inflation data showed a continued cooling trend, with November’s rate at 1.9%, marking four consecutive months below 2%. The shelter component also eased, but rents defied expectations, rising 7.7% year-over-year nationally despite sharp declines in major cities like Vancouver, where rents are down 10%. Rate cuts are back on the table, with the Bank of Canada expected to lower rates incrementally in early 2025, while variable-rate mortgages are regaining popularity. South of the border, the Federal Reserve cut rates by 0.25%, signaling caution amid strong GDP and persistent inflation. The move widened the gap between Canadian and U.S. rates to levels not seen since 1997, weakening the Canadian dollar to under $0.70 USD and highlighting diverging economic paths between the two nations. Canada’s labor market continues to struggle, with unemployment hitting a seven-year high and job vacancies plunging to a four-year low. Companies are hiring fewer workers, creating a troubling imbalance with less than one job available for every two job seekers. This dynamic reflects a worsening economic downturn, with nearly 20% of unemployed Canadians classified as long-term unemployed. The construction sector, a key pillar of the workforce, faces additional challenges as housing starts have declined significantly over the year, despite a recent monthly uptick. Large-scale building permits, which indicate future supply, are also falling sharply, particularly in Ontario. These trends raise concerns about the future of housing affordability and employment in an already strained economy. Compounding these issues is political upheaval, with both Finance Minister Chrystia Freeland and Housing Minister Sean Fraser stepping down. Freeland’s tenure ended amidst criticism of Canada’s record deficits, with the Fall Economic Statement revealing a $62 billion shortfall—50% over budget. Meanwhile, B.C.’s 2024-2025 budget projects a staggering $9.4 billion deficit, the largest in provincial history. Fraser, who oversaw record immigration levels that strained housing and healthcare systems, has faced sharp criticism for his policies’ long-term impacts. With mounting government debt, declining investor confidence, and slowing immigration, the outlook for 2025 appears unpredictable. This perfect storm of economic uncertainty, housing struggles, and political shakeups underscores the challenges and potential opportunities that Canada faces heading into the new year. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
The Bank of Canada (BoC) lowered its policy rate by 50 basis points this week, bringing it to 3.25%, the lowest level in over two years. This significant cut, which follows weaker-than-expected GDP growth and rising unemployment, has increased buying power for borrowers by 21%, enabling higher mortgage affordability. However, questions remain about whether these rate cuts are sufficient to revive the economy and ease challenges for mortgage holders renewing at higher rates in 2025. Despite the BoC’s confidence in achieving its 2% inflation target and avoiding a recession next year, rising insolvencies and declining consumer confidence suggest significant financial strain for many Canadians. Economic indicators paint a concerning picture. Unemployment has risen to 6.8%, the highest in eight years outside of the pandemic, with Toronto particularly hard hit, where the jobless rate has surged by 47% year-over-year. Consumer and business insolvencies are climbing sharply, especially in Ontario, which saw its highest single-month insolvency filings in 14 years. Additionally, consumer confidence has experienced its steepest decline since mid-2022, casting doubt on near-term economic resilience compounded by reduced immigration forecasts, slowing housing starts, and looming risks from potential U.S. tariffs. The housing market remains a mixed bag. Toronto sales rose 39% year-over-year in November, with prices showing a slight monthly increase, but pre-construction sales have collapsed by 84% over the past year. Nationally, arrears rates have remained stable at 0.2%, supported by significant home equity gains over the past five years. This equity provides homeowners with options, such as re-amortizing mortgages or downsizing, to mitigate financial pressures. Meanwhile, affordability is improving incrementally. Monthly mortgage payments for a typical Vancouver home have dropped 19% from 2023 peaks, and rental rates are also declining, signaling some relief for buyers and renters alike. Looking ahead, the BoC is expected to implement further rate cuts in early 2025, with a potential pause to assess the economy's state. However, with unemployment rising, consumer spending weakening, and housing construction slowing, the path to recovery remains uncertain. While rate cuts may provide temporary relief, deeper structural challenges in Canada’s economy suggest a long road ahead. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
If you own a home in British Columbia, you could be sitting on an untapped financial opportunity worth seven figures. Thanks to Bill 44, homeowners now have the chance to significantly increase the value of their properties by converting single-family homes into modern multiplex developments. In this episode, we’re joined by David Babakaiff of Alair Homes, an award-winning builder and expert in multiplex construction, to help homeowners understand how they can unlock this incredible potential. David explains how this new legislation impacts over 300,000 properties in the Lower Mainland, opening the door for homeowners to turn their lot into a wealth-generating asset. He shares real-life examples of families who have added over $1 million in equity by building duplexes, triplexes, or even larger multiplexes on their properties. Whether your goal is to sell the new units, rent them for passive income, or even live mortgage-free in a beautiful new home, the possibilities are multiple. This episode breaks down the process step-by-step, including how to assess the feasibility of your lot, secure financing, and design a project that maximizes profit while meeting your goals. David also highlights how his team simplifies the journey, offering a seamless approach with experts in financial planning, architecture, construction, tax strategies, and real estate sales. Your home might be worth far more than you think, and this podcast is your guide to finding out how much. Imagine transforming your property into a multi-unit building and walking away with significant financial gains—without losing ownership of your land. If you’re curious about how much money you could make with a multiplex, reach out to us today to explore your options. This is your chance to turn your property into a wealth-building powerhouse. About David Babakaiff David is a veteran of residential building spanning almost three decades in BC. His companies are multi award winning, building custom homes at volume, small multifamily mixed-use buildings and multiplexes. He has been vice president of BC interior's Canadian Home Builders Association; co-founder of a $5 million VCC fund, and founder of companies in forestry logistics and industrial waste management as well as industrial alternate energy technology. In 2012 David brought Aliar Homes to Vancouver, and today David's focus is helping homeowners unlock wealth by converting their houses to multiplexes. david@alairhomes.com About Alair Homes Alair began building one-of custom homes in Nanaimo and has grown to over 100 offices across North America. Today, Alair® has the largest footprint of any premium custom home building and large-scale renovation/ remodelling brand in the world. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
This episode delves deeply into the housing affordability crisis in Canada, a critical issue that remains at the forefront in 2024. With persistently high home prices, elevated interest rates, and a rising cost of living, homeownership is becoming increasingly unattainable for many Canadians. The data tells a sobering story. Homeownership rates in Canada have declined from 69% in 2011 to 66% today, with younger generations facing even greater challenges. For Canadians aged 25 to 29, the homeownership rate has dropped sharply, from 44.1% in 2011 to 36.5% in 2021. This decline underscores the growing barriers to entering the housing market. The struggles extend beyond prospective homebuyers. Developers are contending with soaring construction costs, skyrocketing municipal development fees, and high interest rates, creating a hostile environment for new projects. These challenges have led to a surge in shelved developments, land sell-offs, and insolvencies within the sector. Projects like "The Riv," a 37-story condo tower planned for Toronto, have been canceled due to insufficient buyer interest and unsustainable pre-sale thresholds. These setbacks highlight a looming crisis in housing supply that could worsen the affordability challenges Canadians already face. Adding to the complexity, Oxford Economics projects that housing affordability will not return to reasonable levels until 2035. Their Housing Affordability Index, which evaluates factors like home prices, wages, and interest rates, reveals that homes were affordable between 2005 and 2020 but became increasingly unaffordable, peaking in 2023. While affordability has started to improve slightly, it remains far from sustainable. For many Canadians, the prospect of waiting more than a decade for improved affordability is daunting, particularly in historically expensive markets like Vancouver and Toronto. Recent data from StatsCan challenges the narrative that home flipping significantly contributes to housing unaffordability. In British Columbia, only 3% of properties were flipped within a year in 2021, with minimal impact on overall market prices. While flipping can influence price volatility in overheated markets, its role in Canada’s broader housing crisis appears overstated. The core issue remains the chronic mismatch between housing supply and demand. This episode also explores the November Greater Vancouver real estate statistics, offering insights into market trends. While total sales decreased by 20% month-over-month, they were up 29% year-over-year, signaling a potential shift. Inventory dropped to a seven-month low, though it remains 26% above the ten-year average. Despite elevated inventory levels, prices in some categories have remained stable or even increased, reflecting the market’s resilience. Looking ahead, the episode discusses the Bank of Canada’s upcoming December meeting and the potential implications of a rate cut. While a reduction could stimulate an early spring market in 2025, questions persist about whether it would genuinely address affordability or merely fuel demand without resolving supply constraints. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
This week in Canadian real estate, fresh GDP data revealed slower-than-expected economic growth. Canada’s economy grew by 1% year-over-year in the third quarter, with GDP rising only 0.1% in September. On a per capita basis, GDP actually declined for the seventh consecutive quarter, reflecting further economic challenges. These weaker-than-anticipated numbers have shifted market expectations for a potential rate cut in December, with a 33% probability now placed on a 50-basis-point reduction. Despite these pressures, Canadians are saving at near-record levels! Household savings rate hitting 7.1% in Q3, as disposable income growth outpaced spending. This cautious approach reflects a broader sense of economic uncertainty and distrust in government policy as households prioritize financial stability amid ongoing volatility. However, alongside increased savings, Canadians are grappling with mounting debt and insolvencies. Credit card balances reached a record $110 billion in September, growing 9.7% year-over-year. Consumer insolvencies climbed 8.8% nationally and surged 18.4% in Ontario, returning to pre-pandemic levels. While not yet alarming, the pace of insolvency growth could escalate to financial crisis levels by 2025 if left unchecked. Meanwhile, the cost of housing remains a significant burden. Monthly mortgage payments for the typical home dropped slightly in October but remain up 90% compared to 2021 levels, with the average payment now sitting at $2,975—nearly double what it was just three years ago. In the mortgage market, both fixed and variable rates have seen modest declines from their 2024 peaks. Fixed rates currently average 4.4%, while variable rates are at 4.9%. These rates are expected to fall further, with markets projecting a bottom of 3% by mid-2025 as the Bank of Canada faces pressures from slowing inflation, weaker GDP, and economic risks such as Trump’s proposed 25% tariffs. These tariffs could have a 2–3% negative impact on Canada’s GDP, potentially driving the central bank to accelerate rate cuts to support the economy. Additionally, the rental market is poised to stabilize further, with new supply and slower population growth expected to ease inflationary pressures in housing over the next two years. Regionally, Vancouver’s housing market continues to gain slight momentum. November sales are projected to rise 29% year-over-year, bringing activity closer to long-term 10-year averages. New listings, however, increased by just 10%, creating an environment where limited supply is supporting prices. Median prices climbed for the second month in a row, rising slightly by $5,000, while average prices jumped by $34,000. This contrasts sharply with the GTA, where new condo sales were down 91% compared to decade averages, and starts are forecasted to hit 20-year lows by 2025. While Toronto’s challenges weigh on the broader market, Vancouver’s resilience offers a glimmer of hope for Canadian real estate. Full November statistics will provide further clarity in the week ahead. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
This week, we’re examining how key economic indicators, policy changes, and market trends are influencing everything from interest rates to housing affordability. Inflation has officially returned to the Bank of Canada’s 2% target, but what does this mean for the direction of interest rates heading into 2025? The Bank faces a delicate balancing act with inflation on target, GDP revisions upward, and the U.S. economy remaining strong. Projections suggest we’ll see modest rate cuts early in the year, stabilizing at an overnight rate of 3% by March. Homeowners renewing mortgages in 2025 should plan accordingly, as this will still translate to higher payments compared to the historically low rates of recent years. On the international front, the potential effects of a Trump presidency loom large over Canada’s economy. Historically, Canada has avoided recessions during periods of U.S. growth exceeding 2%, suggesting some economic resilience. Trump’s focus on energy infrastructure could revive projects like the Keystone XL pipeline, boosting Alberta’s energy sector, while a weak Canadian dollar might attract foreign investment into commercial real estate. Additionally, changes in U.S. immigration policy could prompt an influx of skilled workers into Canada, potentially offsetting recent adjustments to our own immigration targets. Closer to home, the housing market is facing mounting pressures. Despite ambitious governmental promises to build 3.9 million homes over the next seven years, housing starts have dropped sharply—down 12% nationwide and 30% in British Columbia year-over-year. Compounding this, delayed projects and developer insolvencies, like THIND’s high-profile collapse, are exacerbating the supply crisis. THIND’s troubles have halted thousands of planned units, underscoring the strain that rising interest rates are placing on even established developers. This ongoing shortfall in housing starts signals a grim future, with significant shortages expected in completions by 2027-2029. Mortgage renewals are another pressing issue, with 23% of all existing Canadian mortgages set to renew in 2025 and 31% in 2026—above the typical annual renewal rate of 20%. For Vancouver homeowners who locked in rates as low as 2% in 2020, the shift to today’s rates could mean monthly payment increases of nearly 30%. However, the average 21% appreciation in home values over the past five years offers a potential safety net, allowing homeowners to downsize while preserving some equity and solvency. From inflation and interest rates to housing starts and developer challenges, this episode covers the critical issues shaping Canada’s real estate future. Stay tuned as we break down what it all means for you, whether you’re a homeowner, investor, or industry professional. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
This week, six critical factors emerged that could significantly influence the Canadian housing market in the coming months. First, Statistics Canada revised GDP figures upward, adding 1.3% growth between 2021 and 2023, equivalent to an entire year of economic activity. While this suggests a stronger-than-expected economy, it complicates the Bank of Canada’s recent rate-cutting strategy. Markets now anticipate a 0.25% rate cut in December, with a 60% chance of a larger 0.50% cut, which could stimulate housing demand. Second, the potential impact of Trump’s proposed tariffs looms large. Should tariffs reach 10-20%, they could shrink Canada’s GDP by up to 2%, reduce foreign investment, and deepen economic challenges. While lower growth may prompt further rate cuts, boosting housing sales and construction, broader economic instability could counteract these benefits. Meanwhile, rental rates have begun to drop, with a 1.2% national year-over-year decline—the first in years. Vancouver and Toronto saw the steepest drops, at 8.4% and 9.2%, respectively. This shift is driven by record condo completions, slowing population growth, and renters reaching affordability limits. Although rents remain 29% higher than three years ago, the decline provides some relief to tenants. In the U.S., inflation ticked up to 2.6% in October, its first monthly increase in six months, prompting markets to price in rate cuts from both the Federal Reserve and Bank of Canada this December. Lower borrowing costs could invigorate the housing market, setting up for a strong spring in 2025. October also saw a surge in national home sales, with Toronto leading the way with a 44% year-over-year increase. This spike is largely attributed to pent-up demand and renewed consumer confidence driven by expectations of lower interest rates. Early November data suggests this trend is continuing, pointing to a robust spring market ahead. Finally, a potential “mortgage war” is brewing as 50% of Canadian mortgages are set to renew in the next two years. With new rules allowing borrowers to switch lenders without requalifying, competition among banks is expected to intensify. Savvy homeowners stand to save tens of thousands of dollars by shopping for better rates, making it crucial to prepare for these opportunities now. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
In October, Vancouver’s real estate market exhibited mixed signals. Despite a continued decline in home prices, with the benchmark HPI dropping for the fifth consecutive month by 0.6%, a surprising surge in sales emerged. Total sales jumped 43% from September and 32% year-over-year, marking October 2024 as the third-highest sales month of the year and the most active October since 2021. Experts suggest that the rate cuts so far, combined with optimism for further reductions, may have spurred buyers back into the market. This sentiment sharply contrasts with 2022 when rising interest rates deterred buyers. The recent U.S. election results, with Trump securing the presidency, bring significant economic implications for Canada. Key among these is the potential for new tariffs on Canadian imports to the U.S., which could add $30 billion in economic costs, with Canadian manufacturing and consumer prices bearing the brunt. This inflationary impact could strain housing affordability, as higher import costs would drive up construction expenses, potentially limiting new builds and pushing home prices higher. To counter these risks, the Bank of Canada might reduce rates further, which could increase Canadian homebuyers' purchasing power but also encourage some to enter the market amid potential economic downturns. Affordable housing targets in Canadian cities like Ottawa and West Vancouver face substantial setbacks due to escalating construction costs and financing issues. Ottawa has fallen short of its 500-unit annual goal every year since 2020, citing a funding gap of $931 million and a 150% increase in construction costs since 2021. West Vancouver also anticipates falling short of provincial targets, estimating that only 58 affordable units will be built in 2024—well below the province’s target of 220. This affordability gap points to ongoing challenges for both public and private sectors, with limited options for expanding affordable housing despite rising demand. The “17 Villages” initiative in Vancouver seeks to create a gentler approach to housing density, adding low-rise residential buildings, townhouses, and multiplexes within 400 meters of established retail streets. This feels like a European-inspired model that will anchor neighborhoods with walkable retail and community amenities, allowing young professionals and families to stay in these areas at potentially lower costs. Unlike high-rise developments, these “villages” aim to enhance neighborhood character, create small business opportunities, and offer diverse housing options without dramatically altering community aesthetics. Touching on the October stats, Vancouver’s real estate inventory fell by 7% month-over-month to a five-month low but remains 25% higher than last October and 26% above the 10-year average. With over 5,400 new listings—a 17% annual increase—the market has seen an influx of choices for buyers, while inventory is the highest for October since 2014. The sales-to-active listings ratio rose back to 19%, with townhomes and apartments now moving into seller’s market territory. Detached homes saw a slight uptick in demand, but overall, the market remains balanced, favoring neither buyers nor sellers strongly. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
In a climate of economic turbulence, Canada’s economy is showing signs of a downturn that could significantly affect Vancouver’s real estate market. The Bank of Canada recently reduced its interest rate by 50 basis points, following weaker-than-expected inflation and a rise in business insolvencies. While these rate cuts may offer mortgage relief, they’re also weakening the Canadian dollar, which has hit a 20-year low against the U.S. dollar, potentially increasing imported inflation as time goes on. Meanwhile, Canadian GDP has remained stagnant, with annual growth forecasts now below 1%, well below the anticipated 2.8%. This slower growth could prompt further rate cuts as the Bank seeks to stimulate the economy. Employment trends are also concerning, especially among young men, with unemployment for this demographic rising sharply, indicating possible downward pressure on inflation. We touch on declining sales in manufacturing and a troubling inventory-to-sales ratio that's been further emphasized by the challenges facing Canada’s economy. Housing offers a mixed picture: as mortgage payments drop and rates fall, consumer confidence is on the move up. Sales volumes are expected to increase next year by 10%-20%, but the government’s recent immigration cuts could also reduce that demand, especially for rentals. The new targets project significant reductions in Canada’s temporary resident population, potentially leading to Canada’s first-ever years of negative population growth, impacting GDP, tax revenues, and the housing sector's stability. This would be a first for Canada after non-permanent residents hit an all-time high of 3 million people. The Vancouver housing market stands to be directly affected. Dropping interest rates may ease some home-buying pressures, but declining immigration and job losses in construction and housing services could lead to a long-term housing shortage and potential tax increases as governments try to offset reduced revenues. For buyers and renters alike, this evolving economic landscape could spell both opportunities and challenges, making it a crucial topic for those involved in Vancouver real estate. Also, we are welcoming your questions!! With these complex dynamics at play, what questions do you have about the market or where you find yourself today? Message us directly or post them in the comment section below, and we’ll provide informed insights in next week’s episode! _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
In this episode, the podcast hosts dive into one of the most transformative housing policies in British Columbia’s recent history—the Small Scale Multi-Unit Housing Initiative, introduced under Bill C44. This policy marks a significant shift in how housing developments are approached, aiming to address the critical shortage of homes in the Lower Mainland by automatically rezoning single-family and duplex lots to allow for higher-density developments. By opening up these properties for multi-unit construction, the policy seeks to tackle the housing crisis, create new investment opportunities, and provide much-needed jobs in the construction industry. However, the initiative has sparked heated debate. While it promises to inject new housing stock into the "missing middle" market, not all stakeholders are on board. Many neighborhoods have adopted a Not In My Backyard (NIMBY) stance, pushing back against the increased density and potential changes to their community dynamics. Some municipalities have leveraged the policy to increase Development Cost Charges (DCCs) and Amenity Contribution Charges (ACCs), which could make the process more expensive for developers, adding layers of complexity to what seems like a streamlined solution. To unpack the real opportunities and challenges presented by this policy, we are joined by James Livingston, founder of Lightwell Developments. As someone deeply embedded in the development space, James offers listeners a rare behind-the-scenes look at how companies like his are capitalizing on the deregulation. His firm specializes in working with homeowners who might not have the knowledge or the capital resources to redevelop their property on their own. James explains how Lightwell’s business model allows these homeowners to partner with developers by turning their properties into multi-unit dwellings and potentially earning more than they would through a traditional home sale—without the hassle of open houses, showings, or putting their home on the market. The episode then shifts to the criteria Lightwell Developments uses when scouting properties. James breaks down what makes a lot ideal for redevelopment, from its size and location to zoning regulations and municipal cooperation. The discussion moves beyond the homeowner’s perspective to explore the broader market implications of the Small Scale Multi-Unit Housing Initiative. While many developers, architects, and investors are enthusiastic about the changes, some argue that the policy doesn’t go far enough to meet future density demands. James provides his take on the policy’s strengths and limitations, discussing whether it can truly solve the housing crisis or if more drastic measures are needed to fulfill Metro Vancouver’s long-term housing requirements. To round out the conversation, the episode addresses another key audience—INVESTORS who may not own property but want to invest capital. James outlines the financial mechanics of investing in his multi-unit development fund, from expected returns to minimum investment amounts and typical timeframes. He provides insights into how this growing sector offers attractive opportunities for investors looking to diversify their portfolios and tap into the high demand for new housing in the region. _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com…
 
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