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Infographic: Vancouver Real Estate Mania

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Posted by Visual Capitalist

on Friday, 10 June 2016 08:24

The story of a humble 86-year-old home in Vancouver’s Point Grey neighbourhood was widely circulated by national media outlets and became a lightning rod for local frustration with skyrocketing property values.

The “knockdown”, with its rotting walls and $2.4 million asking price, perfectly underscored how crazy the region’s overheated housing market had gotten. 

A month later, the house was sold for $80,000 above its asking price, rekindling public outrage.

How did Vancouver reach this point?

This infographic’s purpose is to connect the dots between Vancouver’s history of speculation, demographic waves, public policy, and external pressures that have all had a hand in shaping today’s hot real estate market in the city.

Let’s start at the very beginning…

vancouver-real-estate-mania

 



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Real Estate

MLS Real Estate Sales Frenzy Canada Wide

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Posted by Brian Ripley's Canadian Real Estate Charts

on Thursday, 09 June 2016 07:18

Anyone owning a SFD in the scorching hot Vancouver-Toronto market is sitting on an unredeemed lottery ticket.

In May 2016 Canada's big city metro SFD prices all advanced M/M with the Vancouver and Toronto bulls posting new peak prices not only in the single family detached space but also in the townhouse and condo sectors as well. The national MLS sales volume also hit a new bizzaro high. 

8312206

The chart above shows the average detached housing prices for Vancouver, Calgary, Edmonton, Toronto*, Ottawa* and Montréal* (the six Canadian cities with over a million people) as well as the average of the sum of VancouverCalgary and Toronto condo (apartment) prices on the left axis. On the right axis is the seasonally adjusted annualized rate (SAAR) of MLS® Residential Sales across Canada (one month lag).

...for a larger chart, more analysis and rental information go HERE

related: Vancouver's Affordability Freak Show



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Real Estate

The Feds Poised To Smash Vancouvers Real Estate Boom

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Posted by Michael Campbell

on Thursday, 09 June 2016 00:42

The BIG question: Will the Federal Finance Minister yield to pressure and do something to stifle Vancouver's real estate market? Damage Canada's most dynamic economic sector by an extremely large margin. In 2015 Canada created 144,000 jobs of which 110,000 were in BC, mostly in construction related to real estate...much more to in Michael's Mid-Week Update

vanchousMore from Michael: Time To Demand The Facts

 



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Real Estate

Vancouver's Affordability Freak Show

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Posted by Brian Ripley's Canadian Real Estate Charts

on Tuesday, 31 May 2016 12:06

One of the effects of the last 7+ years of state imposed ZIRP & NIRP and mortgage default insurance subsidies is that the "value" of money has been destroyed.

Not only does cash (money) 'feel' as if it has no value but realtors and developers also don't know what the value is of the product they are selling, because their value of money is being defined by a market seized by mania that is willing to pay more today than was spent to purchase yesterday and all along the way, agents in the market and government give their approval to a dynamic that will reach a limit (if not already reached in certain markets) UNLESSearnings improve.

5819286 orig

....continue reading HERE

related: April CDN Real Estate: Rocketing Straight Up.



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Real Estate

A Reason Canadians Can Be Proud

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Posted by Ozzie Jurock with Michael Campbell

on Saturday, 21 May 2016 08:36

Ozzie's got a stat that will shock with what Canadians are up to. Plus a hot part of the market that few are aware of...



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Ozzie Jurock Mark Leibovit Greg Weldon Ryan Irvine