Tag Archives: affordability

Three unaffordable real estate markets, number 3 will shock you!

Vancouver has just been ranked the #3 least affordable housing market in the world behind Hong Kong and Sydney according to a survey by Demographia.

This is the second year in a row Vancouver ranked third after hitting second place in 2015. The city has been ranked with the worst housing affordability in Canada in all previous Demographia surveys since 2004.

Demographia reported Vancouver’s year-over-year price growth was equal to a year of household income in the city. It also mentioned the city experienced a “modest” net domestic out-migration in 2016, meaning more people left the city than moved in.

Which city do you think those people that left Vancouver are moving to: Hong Kong or Sydney?

Read the full article here.

Friday (afternoon) Free-for-all!

It’s that time of the week again!

Let’s do our regular end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

Ottawa making housing fix a top priority
Thanks for the help
Impact of housing on economy
Fake assets
Goodbye Vancouver
Empty Land
Household debt bigger than GDP
Average Weekly Inventory chart
Why the borrowing binge will end badly

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Friday Free-for-all! August 26th 2016

It’s the end of another work week and that means it’s time for another Friday Free-for-all!

This is our regularly scheduled end of the week news round-up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

Royal Bank ‘closely monitoring’ housing
CIBC can weather housing crash up to 30%
Pumping Tax Free Zones
Metro house sales plummet
Home sales down 63% in first weeks of August
Foreign buyer tax in four charts
How can Vancouverites afford to buy?

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Friday Free-for-all!

It’s the end of another beautiful work-week and that means it’s Friday Free-for-all time!

This is our standard end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

Mayors letter to Premier on housing
Mayor pitches affordable housing idea
We lack the facts
Vancouver Realtor Hunger Index 38%
4 proposals for housing affordability
New West addresses affordability
Did it work in Toronto?

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

What roll for developers in affordability debate?

Often when it comes to real estate stories in the local media the people interviewed are developers, marketers or realtors. These are all professionals who deal with the market every day, so it makes sense for the media to seek their opinion on housing stories.

But should they be driving the ‘affordability’ debate?

Architect and professor Avi Friedman thinks not.

“Builders will not initiate innovative ideas because they are profit motivators, so the city needs to act as a catalyst,” he told CBC Radio One’s Rick Cluff on The Early Edition.

Friedman also criticized the idea offered by many in the real estate industry, like marketer Bob Rennie, that Vancouver isn’t going to be affordable for everyone and that young people should consider moving to the suburbs.

“People who grew up and live in a city should be able to buy a home in their city. The fear is that, some of these young people may leave Vancouver,” Friedman said.

“Once you see the departure of young people from the city, they take along their potential … to start new businesses, to create a vibrancy that young people bring to a place.”

Friedman says it is incumbent upon the city and its leadership to foster and implement new ideas that will allow young people to stay and thrive in Vancouver.

Read the full article over at the CBC.