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Vancouver Homeownership Costs Reach Crisis Levels
A new RBC report says buying a home in Vancouver is at "full-blown crisis levels". 106.4% of median income was needed to afford home ownership in Vancouver at the end of 2023.
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Home Seller Activity in Greater Vancouver Region Up
Home seller activity in Greater Vancouver ↑ 23% yearly in March 2024. However, the number of sales ↓ 5% yearly to 2.3K and < than the 10-yr avg.
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Affordable rental development underway in Vancouver’s Little Mountain neighbourhood
An affordable rental housing development in Vancouver's Little Mountain neighborhood is finally underway after 15 years. The 48-unit building will offer various housing options, a childcare facility, and a community plaza. The project aims to create an inclusive neighborhood with housing for all income levels. Continue to full article
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Metro Vancouver’s Inclusionary Housing: A Patchwork of Progress
New Policy Impact: – Metro Vancouver's new housing policy has created 9,200 below-market rental homes, mainly by private developers. Inconsistent Application: – Inclusionary housing policies vary across the region, lacking uniformity.
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City council looking at denser housing in Vancouver’s Shaughnessy neighbourhood
B.C.'s new housing legislation may require densification in the affluent Shaughnessy neighborhood. Bill 44 allows for increased densities, with up to four units on a residential lot. A previous attempt to increase density in Shaughnessy was defeated, but there are ongoing discussions about the need for zoning changes. Continue to full article
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Vancouver’s Empty Bedrooms Are the Problem, Not Houses
Despite shrinking household sizes and rising prices, lot sizes haven't adjusted, leading to an excess of empty bedrooms in single-family homes.Three principles are proposed to prompt cities to address housing affordability and urban challenges proactively.
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Land and development issues mire affordable Vancouver housing
Vancouver faces an affordable housing crisis due to development challenges, land shortages, and lack of government funding. Efforts to address the issue have fallen short, with only 8,000 housing units delivered since 2017 while the need is much greater. Various initiatives are being pursued, including multiplex development on single-family lots, but the situation remains complex…
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Insider Tips for Home Buyers
Budget for closing costs, typically 1.5% to 2% of purchase price. Submit a deposit, usually 2% to 5% of the home's purchase price.
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Happy Mother’s Day
Mother's Day is a celebration honoring the mother of the family or individual, as well as motherhood, maternal bonds, and the influence of mothers in society. The origins of commemorating motherhood dates back to the Ancient Greeks, where in spring festival, they celebrated the goddess Rhea, considered the Mother of the Gods. Anna Jarvis’s lobbying…