The Vancouver Life Real Estate Podcast

Inflation is running at an 18 year high there is going to be some inevitable changes to the real estate market.  Firstly, increased fixed rates are going to push buyers to the variable option, and begin to suppress buying power.   Secondly as the overall cost of living increases, we're going to see less funds available for home purchases.    This is already being seen in the consumer confidence index, and the real estate confidence index, which are down 9% and 18% respectively.   While those indicators may provide forward guidance, today we're experiencing the fading moments of the strongest bull run in recorded history.  National home sales increased 0.9% last month and prices hit a brand new all time high of $750,400.   Above average sales with below average new listings is driving inventory to new all time lows of 102,000 across our country.    A mere 5 years ago that number was over 250,000.   In this weeks episode we share the recent national data and give our insights into where the market is headed next.  _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

Leasehold properties can seem enticing based on their lower price point - and in some cases this is a great option for home buyers or investors.  But there is a lot know about this type of property including who owns the lease, the amount of years remaining on it, the type of lease, the size of down payment required and what happens when the lease expires.   In this episode we explain each of these aspects in detail and when it is, and when it isn't, a good idea to explore the idea of buying a leasehold property.   _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

With inflation well above the 2% target, and major lenders raising their fixed interest rates, the question becomes, does this mean the good times are coming to an end?  And by good time, we refer to the homeowners who have seen in excess of 30% annualized returns on their homes over the last 18 months.   The heightened rate of appreciation is unsustainable and had to end at some point - but what is it going to take?   There is far more talk about inflation remaining above targets and interest rates look to only have one way to go from here...   In this episode Ryan & Dan take a deeper look into how these metrics are effecting the current real estate landscape.  _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

All 3 price metrics shot up in September and the HPI hit a brand new all time high. New listings dropped resulting in a further squeeze on already tight inventory levels.  Homes remain well into a Sellers Market and the data all points to price increases continuing through the remainder of 2021.  We dive into these stats and share charts, and our thoughts on where things are headed.   _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

Every major metric is pointing to home prices continuing to increase in price for the rest of 2021.   From the most straightforward, supply continues to dwindle and is at record lows across the country.  Meanwhile, new mortgages are being issued at a rate DOUBLE the previous record.    That alone is recipe for price increases - but we dig deeper into the immigration numbers, lack of new homes under construction, the immense amount of wealth Canadians have accumulated over the last 12 months and how delinquencies are  at all-time lows.  _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

The Liberal Government has retained their position of power and for those who voted for them, part of their decision was based on their housing promises.   In this episode we dig into the most impactful promises and the budget attached to each one.  From there we explore how likely these are to actual come to fruition and what housing may look like if they do.   _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

The amount of homes available for sale in BC has just hit a record low - 20,000.   Consider that just 12 years ago, in 2009, that number was 60,000 - and since then the population has grown by more than 700,000 people.  The average price of a home in BC increased by over 17% in the last 12 months and is up 80% in the last 10 years.   Credit remains at near record lows and mortgage applications are at record highs.    The competition to buy has never been more fierce, with less homes to ever to choose from.    _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

Rew.ca is Canada's leading Real Estate search portal and the place that millions of people start their home search.  Understandably there is an immense amount of data obtained through the site and in this episode we speak with the president, Simon Bray, to learn his journey into real estate and how Rew.ca is evolving based on home buyers behaviours.   We discuss where the gaps are in the real estate process, how REW helps solve these, we talk affordability, lack of inventory and where Vancouver Real Estate is headed in the next decade.  _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

Although Dan and Ryan typically focus on the Vancouver market as a whole, this weeks bonus episode explores the Macro Real Estate trends that taking place across the country. We explore the promises made by the respective political parties and whether their pledges line up with the reality we are facing as a nation. No doubt, there’s a systemic housing supply issue facing Canadians today - tune in and find out just how serious it is! _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com

August felt like a fairly dramatic slow down from the frenetic pace we’ve seen most of the year! Both Dan and Ryan explore the latest stats from the Real Estate Board OG Greater Vancouver to check in and see where the month landed compared to the month prior and compared to last August. The question on everyone’s mind is, was August actually “slow” or are we beginning to get back into the typical real estate cycles we’ve experienced prior to the onset of the pandemic. Where are we headed from here?! _________________________________ Contact Us To Book Your Private Consultation: 📆 https://calendly.com/thevancouverlife Dan Wurtele, PREC, REIA 604.809.0834 dan@thevancouverlife.com Ryan Dash PREC 778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com