The Vancouver Life Real Estate Podcast

This week we are taking a macro look at debt burdens, mortgage insolvency rates, credit card rates and how real estate is performing in other major parts of the country relative to our own. We also touch on, consumer confidence, Toronto real estate, credit tightening, inflation in the US, and some affective new ways to stimulate the housing market coming out of the UK. Let's start by discussi...

This week we review the April Stats and without question, the Vancouver real estate market has been experiencing a trend of price acceleration over the past three months, with prices rising for the third month in a row. This is happening at a time when rates are down, which is a surprising development. The market has also seen inventory doing something that has never been seen before, which is par...

This week we saw the Bank of Canada release its curated Monetary Report and as it reads (BoC) officials considered the possibility of raising interest rates again on April 12, 2023, according to a summary of the deliberations that led to the latest monetary policy decision. This development suggests that the central bank is leaning more toward rate hikes than cuts as it waits for inflation to fall...

Market Update: The latest consumer price index report released by Statistics Canada on Tuesday, April 19th, revealed that inflation in Canada has dropped to 4.3% in March, a decrease from 5.2% in February. Higher mortgage interest costs were offset by lower energy prices,  resulting in the easing of the headline rate. However, the country's annual inflation rate is mostly tracking along the B...

In this podcast episode, we will be diving into the Homes for People initiative, a government plan aimed at delivering more affordable housing for people. The government has pledged to invest $12 billion over the next ten years in this initiative. The Homes for People initiative aims to deliver more middle-income small-scale multi-unit housing, including townhomes, duplexes, and triplexes through...

In this episode, we discuss the recent trend of increasing home prices in Vancouver, which have risen for a second consecutive month. We examine the various metrics that indicate the current state of the housing market in the city is getting hotter and hotter with all property types (single family homes, townhouses and condos all now firmly in a seller's market.  However, we also acknowledge...

This weeks podcast explores the financial implications of the recent Federal GDP Numbers and the complications they create for the Bank of Canada. Furthermore we explore the revived buzzword “Extend and Pretend” in reference to the Banks extending amortization periods for mortgage holders. Historically it involved banks extending loans to borrowers who were struggling to repay their debts, but ins...

Canada's inflation dropped more than expected this month and came down to 5.2% from 5.9% the previous month. This was the first year-over-year drop as inflation registered at 5.7% last February. The 0.7% drop was the largest since April 2020. However, year-over-year base effects still make this an almost 11% growth over the last year. For example, groceries still lead the pack in growth, up 1...

Qualifying for multiple mortgages can be a complex and challenging process. It requires a thorough understanding of the mortgage industry, as well as the financial requirements needed to secure more than one mortgage. For individuals who are interested in purchasing multiple properties or refinancing existing ones, seeking the help of a mortgage professional is essential. A mortgage professional w...

The collapse of SVB, the 15th largest regional bank in the US, sent shockwaves through the financial industry in March 2023. The bank announced on Wednesday that it was attempting to raise $2.25 billion and complete a $21 billion asset sale to overcome the difficult situation it found itself in after rates accelerated by 450 basis points over nine months. However, by Thursday afternoon, reports em...

Applying for a mortgage can be a daunting task, and it becomes even more complex when you run an incorporated business. As opposed to an individual, the income earned by a corporation is treated differently by lenders. If you are self-employed and have incorporated your business, you may find it challenging to obtain a mortgage as many traditional lenders are not familiar with this structure. Ther...

The news across the nation this week was that the Bank of Canada came through on it’s word and held interest rates at 4.5%. This is the first time in a year that the Bank of Canada took it’s foot off the break and gave all variable rate mortgage holders a sigh of relief. As interest rates begin to stabilize and the bank of Canada moves to the sidelines, it’ll be interesting to see how the market r...

We are extremely excited to have interviewed the creator of eXp Realty and on this episode we hear about how the home buying and selling experience is evolving and how the first ever digital brokerage is shaping the future of real estate.   A bit about Glenn: Glenn Sanford is the founder eXp Realty, CEO of eXp World Holdings, Inc. and Chief Strategy Officer for VirBELA.  After being involved with...

One of the biggest concerns that home buyers have when they're considering purchasing a new home is how much money they need to have on hand. It can be a daunting task to figure out how much money you'll need, especially if you're a first-time homebuyer. In this episode, we explore all of the home buyer options when it comes to this very important question. For instance, many people...

Vancouver home prices increased in February for 1st time in 9 months. Does this mean we’ve hit the bottom and headed back up? Slow down - not yet! One month does not make a trend but it does help further reinforce that our stagnant levels of inventory are causing all kinds of pain for Buyers - this plus the combination of higher rates is setting us up for could be an interesting spring market.  We...

How to access the equity in your home: This week we explore how to access the equity that exists in your home with Mortgage Specialist Mychal Ferrera. It's something that exists for many people who own property and learning how to unlock and use this to your advantage could be the difference in creating serious wealth.  For example, did you know that you can access up to 80% of the equity in...

The roller coaster ride that is now the Canadian 5 year bond jumped another 50 bps in just the last 2 weeks with bond yields above 3.6% for the first time since early November! Why does this matter? It’s the best indicator we have for what’s going to happen with fixed mortgage rates which had briefly come down to into the mid to high 4% range but now back into the mid 5% range and higher. This jum...

Did you know that you can pre-qualify for a mortgage on a pre sale condo?   You can, and up to 3 years in advance.      There are a number of very compelling reasons why this is a good idea too.   Firstly, you can lock in at today's rate, meaning that if rates increase, you benefit from the previously lower rate.    And should rates go down, you can qualify at those lower rates now too. Secon...

There’s an information battle going on with what we’re reading in the news compared to what we're actually seeing take place on the ground. There appears to be two very different stories emerging. With recent news articles from the financial post, stating that economists at Oxford Economics believe we are only halfway through the housing price correction - quote: “Prices are already down 14%...

This week we jump into a great conversation with Ryan Andrews of PCL Construction’s Infrastructure Manager for the BC Region along with serial entrepreneur, real estate investor and co-owner of the Penticton Speedway, Mr Ingo Seibert. The purpose of this weeks episode is to gain an understanding of what billion dollar corporations are seeing, why they believe in the region and why they are continu...

Well the numbers are in and January is already the first of twelve chapters already done for 2023. January was a very slow month not only just in volume of sales but also in terms of overall inventory. With only just over 1,000 sales this month, sales volume numbers were dismal at best and represented a 55% drop from the same time last year. Important to recognize though that this time last year w...

This week was all about macro economics as we looked at how the BoC raised rates again by 0.25% and we also assess the forward guidance provided by Tiff Macklem. Can we expect to see the BoC hold rates at the next announcement? Have they done enough to curb inflation? We also evaluate their credibility considering the last year, and will they achieve their inflation target given the respective tim...

It’s becoming more and more clear that the Bank of Canada is nearing the top of its current rate hike cycle as the latest inflation print showed real signs of slowing, down 0.5% to 6.3%, a welcome reprieve considering the last 9 months. However that likely won’t change the outcome of next week’s rate hike which will almost certainly come in at 0.25% -  a number largely baked into today’s economy. ...

This week was a good week in real estate, and the financial markets reflected a similar sentiment as US inflation data printed lower at 6.5% - down from its previous mark of 7.1%.  This was the largest drop since July 2022, and was mostly led by lower fuel prices. This trend continues its 6th month decline as Inflation is now back to Oct 2021 levels; however core inflation remains sticky as it inc...

The stats are in for the last month of 2022 and while we know activity is low - we didn’t know it would be one of the lowest activity months ever recorded. Without a doubt Buyers and Sellers are digging in their respective heels to get what they want in this transitioning marketplace. Buyer’s are making the case for lower prices through tougher affordability and Sellers are still attached to the m...