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  1. Investment firm McCredie set to acquire Sutton Group in Metro Vancouver real estate shake-up

    Sutton Group, headquartered in Burnaby, has 200 offices across Canada supporting roughly 6,000 agents delivering an annual sales volume of more than $35 billion. 

    It’s now under the leadership of real estate entrepreneur Ross McCredie, principal of McCredie Investments. 
    By Claire Wilson
    07-12-2023

  2. UNSTOPPABLE HOUSING MARKET CRASH

    This housing market crash may be worse than The Great Depression. @peterschiff talks about the dire state of the U.S. economy, and how the Federal Government created a massive housing market bubble they can't fix.

    By Peter Schiff
    26-11-2023

  3. The speculation and vacancy tax is working

    The speculation and vacancy tax is working – it has returned over 20,000 empty condos in Metro Vancouver alone. We're taking action to turn more empty units into homes for people by expanding the tax to 13 new BC municipalities. 

    An action plan to meet the challenges of today and deliver more homes for people, faster. Look at the breakdown of the plan here.

     
    Source: other
    23-11-2023

  4. Province expands speculation tax on Vancouver Island, Okanagan

    The province is expanding its speculation and vacancy tax to 13 new communities, many of them vacation destinations and adjacent to areas already subject to the controversial measure.

    “With so many people struggling to find secure housing, we have to keep taking action – we can't afford to pull back,” BC Finance Minister Katrine Conroy said in announcing the expansion. “The speculation tax is one of the ways we can help increase affordable housing options for people and communities.”
    By Peter Mitham
    22-11-2023

  5. B.C. announces speculation and vacancy tax on 13 more communities

    The B.C. government says more than a dozen additional communities will be subject to the province’s speculation and vacancy tax.

    Finance Minister Katrine Conroy and Housing Minister Ravi Kahlon announced Wednesday that the tax is being expanded to 13 more communities; Vernon, Coldstream, Penticton, Summerland, Lake Country, Peachland, Courtney, Comox, Cumberland, Parksville, Qualicum Beach, Salmon Arm, and Kamloops. 
    By Liza Yuzda and Negin Nia
    22-11-2023

  6. B.C. announces speculation and vacancy tax on 13 more communities

    The B.C. government says more than a dozen additional communities will be subject to the province’s speculation and vacancy tax.

    Finance Minister Katrine Conroy and Housing Minister Ravi Kahlon announced Wednesday that the tax is being expanded to 13 more communities; Vernon, Coldstream, Penticton, Summerland, Lake Country, Peachland, Courtney, Comox, Cumberland, Parksville, Qualicum Beach, Salmon Arm, and Kamloops. 
    By Liza Yuzda and Negin Nia
    22-11-2023

  7. Where will Generation Z be buying homes

    A study on Generation Z (those born between 1997 and 2012) by Point2 revealed that this age group wants it all. At the top of their priority list are mental health, work-life balance and environmental and financial stability.

    The study considered metrics that would give Canada’s biggest cities an advantage in attracting and retaining the youngest, savviest professionals. These things are at least as attainable, often even more so, in smaller, close-knit, slower-paced cities than they are in large urban centres.
    By REM Editorial Team
    21-11-2023

  8. What's the best use for the City of Vancouver's industrial land?

    Vancouver is considering more mixed uses on industrial lands, including multi-storey buildings that will allow for artist studios and work spaces for tech companies and the film industry, according to city reports.

    The move is part of the city’s ongoing efforts to change the use of scarce industrial land in the midst of an industrial-space crunch, which is contributing to rising rents, low vacancy rates, and lost revenue and job potential.
    By Cheryl Chan
    13-11-2023

  9. Here’s how much you need to make to afford a home in America

           “The household income for those who successfully purchased homes jumped by nearly $20,000 and topped six figures for only the second time in our records,” said Jessica Lautz, NAR deputy chief economist and vice president of research.

    As a result, buyers’ typical downpayments jumped to the highest share of home purchase price in two decades — 8% for first time homebuyers and 19% for repeat buyers — as buyers pulled together larger downpayments to break through competitive bidding wars or to lower the amount of the purchase that was financed with a mortgage.

    “In a still-competitive housing market, more well-off home buyers were able to have their bids accepted by offering larger down payments and even by paying cash,” said Lautz.

    The annual survey of recent home buyers and sellers, which this year tracks transactions between July 2022 and June 2023, has been conducted since 1981.   
    By Anna Bahney
    13-11-2023

  10. Prices hold steady as recreational real estate sales collapse

    B.C. recreational property sales continue to come off their pandemic-era highs, but rising interest rates are just one of several factors at play as the market seeks balance.

    “There was a real frenzy in the pandemic years. It created a lot of froth in the market,” said Christopher Alexander, president of Re/Max Canada. “It’s really getting back to normal.”

    The good news is that prices are holding steady even as sales continued to slide this year, underscoring the limited impact of rising interest rates.
    By Peter Mitham
    08-11-2023

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