Category: Uncategorized
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Happy Women’s Day
International Women's Day, also known as IWD for short, grew out of the labour movement to become a recognized annual event by the UN.It all started in 1908 when 15K women marched through NYC demanding shorter working hours, better pay and the right to vote. Things were made official in 1975 when the United Nations…
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Average Vancouver couple needs to earn $92000 more to qualify for typical home
The average Vancouver couple needs to earn $92,000 more annually to afford a mortgage on a typical home in the city. Affordability slightly improved last month, with a decrease in the income required to buy a home. However, the housing market is still in a crisis, with prices out of reach for many. Continue to…
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Vancouver: Highest Permit Costs, Extensive Documentation
A report by the Canadian Federation of Independent Business highlights municipal permit challenges in Canada's housing crisis.Survey compared permit costs and paperwork for a $20K bathroom conversion in 12 cities.
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Vancouver Island homeowners trying to break a cycle of over-assessment
A group of 20 homeowners in Youbou, Canada, are engaging in a "holding appeal" against their property assessments in an effort to ensure fair property taxes. They are waiting for the decision on their appeals from last year and plan to use those valuations as a baseline for future appeals. The homeowners believe they are…
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Vancouver Embraces Multiplex Housing
Vancouver approves multiplex zoning for "missing middle" housing. New zoning gains early builder interest for development projects.
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Metro Vancouver Home Prices, Sales Expected to See Uptick in 2024
Inflation is no longer an immediate threat, and bond markets anticipate over 1.00% interest rate cuts. REBGV expects ↓ 0.50% in the BoC policy rate, forecasting robust spring and summer markets with increased sales activity.
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Why Vancouver housing prices became so out of whack
Foreign capital, especially from China, has significantly impacted Metro Vancouver's housing prices, making them on average 2.2 times higher than other large Canadian cities. A tax on foreign buying and reduced capital flight from China helped stabilize prices. Continue to full article
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Vancouver Market Forecast 2024: Pent-up Demand Meets Falling Rates
Metro Vancouver to see continued decline in sales through late 2023 and early 2024 due to higher borrowing costs. Over 20K potential buyers sidelined by interest rate hikes could return to the market in 2024 as rates fall.
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Metro Vancouver retail tenants ‘hard-pressed’ to find space
CEBA loans and low consumer spending are potential challenges for the market. Retail real estate in Metro Vancouver remains strong, with low vacancy rates. The region's retail market finished 2023 in a strong position. New developments, including the Oakridge Centre redevelopment, are expected to add more space. Continue to full article
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Vancouver Experiences Fourth Consecutive Rent Decrease
Vancouver's one-bedroom rent has fallen for the fourth consecutive month, dropping 1.1% to $2,700.Two-bedroom rents in Vancouver have also declined, decreasing by 2.8% to $3,890 during this period.