Naru Menon’s Blog
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B.C.’s Resilient Housing Landscape: Trends
In 2023, a notable number of British Columbians explored opportunities beyond, seeking new experiences. B.C. achieved remarkable population growth in 2023, reaching levels not seen since 1974, fueled by immigration.
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BC Homes: Stable Today, Affordable Tomorrow?
BC housing assessments hold steady across most areas, with Metro Vancouver single-family homes hovering just above $2M. While values stabilize, affordability concerns simmer as interest rate drops could spark increased buying activity with limited housing supply.
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B.C’s Affordable Housing Vision
BC Housing and OMAHS seek permits for 48-unit affordable housing project on Kneller Road. Joint application was submitted after unanimous city council support more than a year ago.
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Happy Family Day
In some families, it’s a day to spend time playing in the snow, building snowmen, or having snowball fights. Some families take advantage of the long weekend to have a "staycation" and enjoy the activities in their own city or town. Take advantage of this wonderful time of year to reinforce your family bonds. Wishing…
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New Listing: 202 9978 148 STREET
Welcome to your oasis at Highpoint Garden! This stunning concrete building boasts full rain screening, ensuring durability and peace of mind for years to come. Step into luxury with this spacious 2-bedroom, 2-bathroom unit,featuring the potential for a third bedroom space to accommodate your needs. One parking and One Storage Locker. Indulge in resort-style living…
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Metro Vancouver ‘toughest’ rental market in Canada, says CMHC
High immigration levels and mortgage prices are causing would-be homebuyers to remain in rental units in Metro Vancouver. The region has one of the lowest vacancy rates in Canada, with an average turnover rate for rental units decreasing. Factors such as population growth and rising mortgage rates are keeping downward pressure on vacancy rates, making…
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BC’s 2024 Construction Outlook Remains Strong
Construction Optimism in British Columbia Despite challenges, construction contractors anticipate a busy 2024. Labour Shortages, a Concern Skilled worker shortages continue to be a significant challenge in the industry.
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Happy Valentine’s Day
Valentine’s Day occurs every February 14 around the world, and candy, flowers and gifts are exchanged between loved ones, all in the name of St. Valentine Valentine greetings were popular as far back as the Middle Ages, though written Valentine’s didn’t begin to appear until after 1400. By the middle of the 18th, it was…
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Canadian Mortgage Borrowers Will Have To Wait For Rate Relief: BMO
Canadian real estate markets are anticipating cheaper mortgages, but the Bank of Canada's recent announcement suggests that relief may be delayed. The central bank's messaging indicates that rate cuts are not imminent, impacting both variable and fixed rate mortgages. The expectation of delayed inflation normalization is influencing bond yields, potentially stalling the downward rate momentum.…
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North Central BC Property Assessments: Market Softening?
2024 property assessment in Prince George and North Central BC indicates single-family home values ↓ 3% yearly to $450K.Conversely, strata residential properties like condos and townhouses saw ↑ 1% yearly to $252K.