Category: Uncategorized

Housing affordability crisis in BC sparks discussion on government fees. Community amenity contributions (CACs) and development cost charges (DCCs) add to construction costs.

Claire Wilson / Business in Vancouver – Aug 10, 2023 / 11:16 am | Story: 441043 Home sales are up roughly 26 per cent when compared to July 2022, according to the British Columbia Real Estate Association An earlier flurry of activity in B.C.’s housing market is cooling off following two Bank of Canada rate…

International migration fuels population growth in BC, outpacing housing supply. ~180K people has moved to BC in 2022, while only ~40K new housing units were completed.

In July, home sales [↑](color-green) ~10% yearly, but [↓](color-red) 300+ MoM units from 1,656. Shuswap / Revelstoke: Single-family home: $711K Town home: $566K Condo/apartment: $430K

Houses in Canada are ~40% more expensive than condos on a national level, taking over 2-yr worth of income to cover the difference. Vernon has a $385.4K price gap, requiring 5.3-yr to move up, while Kelowna has a $453K difference, needing 5.6-yr to bridge the gap.

Alex Leduc, CFA and CEO of Perch Capital, is making the alternative investment class of mortgage investing more accessible to retail investors. Mortgage investments are an alternative investment that have been around since 1973, and Canadians have poured billions into mortgage investment corporations (MICs) for decades. Investing in a MIC can generate passive income through…

Bond yields have been rising this week, which could lead to an increase in fixed mortgage rates if the trend continues. The 5-year Government of Canada bond yield rose to 3.92% on Tuesday, and could reach the 4% mark if it continues to rise. If the 5-year yield breaks the 4% mark, mortgage rates could…

The mortgage market has been unpredictable due to changing interest rates influenced by economic disruptions, inflation, and other factors. The BoC initially reduced rates to 0.25% during the pandemic but has since raised it to 5% in response to economic recovery.

Currently, Canadian mortgage rates have remained stable, providing relief after a surge in the past two months. There is an increasing interest in five-year fixed rates, which is the most popular option with 71% of recent rate searches. The direction of rates will largely depend on the U.S. Federal Reserve's upcoming decision. If this rate…

The estimated income-to-expense ratio in BC is 1.2. The cost-of-living is estimated to be ~$79K/yr. The median annual household income in the province is ~$98K.