Category Archives: opinion

Your predictions for 2019

Ever felt like telling the future?

What do you foresee happening to the local economy an housing market in 2019? Where will interest rates go?

The Bank of Canada seems to think we’re not in for hot growth and are keeping rates flat for the moment.

A couple of brokerages predict prices will stay flat or decline only slightly in 2019.

The general consensus and safe bet is to predict a status quo situation.  No major drops or increases in the market.  That sound about right?

Bank of Canada warns of housing market vulnerability

The bank that cried wolf: Housing market vulnerabilities are still high.

Vulnerabilities in the Canadian housing market are still high despite rising interest rates and tighter mortgage rules, Bank of Canada Senior Deputy Governor Carolyn Wilkins said on Thursday.

It also released results of a model it said showed Canadian banks’ capital positions would not be affected by a 20 percent correction in the housing market, with the biggest declines in Toronto and Vancouver.

Read the full article here.

Runaway market taking ‘a breather’

As you may be aware it is always a good time to buy or sell real estate according to most real estate professionals who earn their living by buying and selling real estate.

Well right now it’s a great time to buy or sell real estate because the runaway market is taking a breather.

It’s a “soft landing,” according to Royal LePage CEO Phil Soper, who says their latest house price survey shows the effects of government measures to cool things down.

What were previously called the “dangerously overheated” conditions in Metro Vancouver housing have cooled significantly, but prices have remained resilient.

He says it’s the soft landing policy-makers had hoped for, rather than a crash.

“But it won’t stay this way for long. Household formation in Canada… is going to grow rapidly,” he predicts.

Read the full article here.

Hey Vancouver! Why so miserable?

You’d think that living in a great city would make you happy, but apparently that’s not true for everyone.  Southseacompany points out this article about why people in Vancouver and Toronto are so unhappy.

Vancouver is now a place you try to survive as much as enjoy. All the problems are well known, the greatest being the high cost of housing. When you, as a young person, have little hope of making a comfortable life in a city that you love, of course it’s going to cause unhappiness. There is a sense that Vancouver is being yanked away from those who love it most, taken over by mercantilists and arrivistes from around the world who care little about a city’s “soul” so long as the skiing’s good and there’s a place that sells beluga caviar. And then there are those sitting on a lottery ticket with the house they bought years ago, waiting to cash out, and those sitting on a mountain of debt, praying interest rates don’t go up. It doesn’t sound like the kind of environment that would engender a cool community vibe, a place where relationships between people can flourish. And that, I think, is what the survey on happiness has tapped into.

Read the full article here.

Calgary most liveable city in Canada?

The economist ranks Calgary as the most liveable city in Canada, Vancouver follows up in 6th place.

Every year, the research and analysis arm of the London-based publisher of the Economist magazine ranks 140 cities and scores them based on 30 different factors, boiled down to five categories:

  • Stability (based on local rates of crime, terrorism and military unrest).
  • Quality of local health care.
  • Local culture and environment (everything from weather to quality of local restaurants).
  • Quality of education.
  • Quality of infrastructure (everything from transit to electrical grids and telecommunications networks).

Melbourne was first seven years in a row before being displaced by the Austrian capital.

Not factored in on that list: cost of living or incomes. Read the full article over at the CBC.