Hey! It’s the end of another work week!
That means it’s Friday Free-for-all time here on VCI. This is our regular end of the week news round up and open topic discussion thread for the weekend.
Depending on when you read this, you may already know who’s mayor.
Alrighty, let’s get to the links to kick off the chat!
–BC leads decline in starts
–Mayor race neck and neck
–All about geography and weather
–BC vs Ontario economy
–Former city planner says..
–Ready to move to an island?
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
The CMHC is predicting declining house sales in the lower mainland over the next couple of years due to higher mortgage interest rates.
“Total housing starts will edge higher as resale market conditions remain balanced and the supply of completed and unabsorbed (unsold) new homes trends lower,” said CMHC B.C. regional economist Carol Frketich.
“Housing demand will be supported by employment and population growth, but tempered by gradually rising mortgage interest rates.”
They are predicting price growth of 1.2 and 1.7% (unclear if this is before or after inflation) and they forecast this based on an assumption of a shift to ‘lower cost housing’.
Which might be good news for anyone trying to sell ‘lower cost housing’ since prices on Vancouver homes under $1.1 million have gone essentially nowhere over the last four years.