The Vancouver Life Real Estate Podcast

In this comprehensive economic update, we delve into the key factors shaping Canada's financial landscape. Join us as we explore the recent developments in inflation, corporate bankruptcies, the rental market, sentiment, and mortgages, providing you with a nuanced understanding of the current economic climate.Canada's annual inflation rate unexpectedly decelerated to 2.9% in January, marking the first time in seven months it dropped below 3%. This has led to increased speculation about an early interest rate cut, with markets now placing a 58% probability of a rate cut in April. The Bank of Canada's core inflation measures also eased, prompting discussions about the possibility of rate cuts despite the key overnight rate remaining at 5%.Corporate borrowers are closely monitoring the situation as Canada experiences a 35-year high in corporate bankruptcies, reaching 400 per month! This alarming surge, a 266% increase in just three years, raises concerns about potential repercussions on employment rates. We explore the impact on major corporations like Bell Canada, which recently underwent a significant restructuring, shedding 9% of its workforce.The rental market, currently at its highest level in 40 years, contributes 0.6% to inflation alone. However, a record low in apartment vacancy rates and a surge in average rent by over 8% year-on-year present challenges. We discuss the factors that may lead to a cooling effect in the rental market, including the construction of 200k rental units, adjustments in immigration policies, and a cap on international student visas.Housing sentiment continues its upward trajectory, reaching the highest point since August 2023. Sales activity in major cities like Toronto and Vancouver has surged, with monthly mortgage payments showing a decline since late 2023. Despite affordability challenges, the Housing Affordability Index is trending downwards, currently at 49%. We explore how positive sentiment is driving real estate activities, particularly among the affluent 1% of the population.Mortgage originations are witnessing notable shifts, with an increasing number of individuals opting for variable rates. The popularity of 3 or 4-year fixed mortgages is on the decline, while total mortgage originations align with the 10-year average. We delve into the reasons behind these shifts and their implications for the broader economy.In a closer look at micro-market trends, we observe a 40% year-on-year spike in sales, with February tracking for a 10% increase. Prices are rising, inventory remains below 10k, and the situation mirrors the dynamics of 2023. We provide insights into the factors contributing to these market trends and their potential implications which look like increasing prices so long as inventory levels remain low and Buyer demand continues to increase.Stay informed about the latest economic developments by watching this detailed analysis. Subscribe for more updates on Canada's economic landscape and make informed decisions in these dynamic times. _________________________________ 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

In this episode of the Vancouver Life Podcast we dive into the innovative realm of real estate investment with our guest, Jonathan Fireman. Jonathan shares his vision behind Investium, a platform aimed at democratizing real estate investments by facilitating collective property purchases. This approach aims to make real estate investment more inclusive and accessible, especially for first-time investors and homebuyers.Jonathan highlights the common hurdles investors face, such as capital limitations and the daunting task of managing properties. He stresses the importance of partnerships in overcoming these obstacles, allowing investors to pool resources, knowledge, and skills to achieve their financial goals. We discuss the evolving interests of investors, noting a shift towards larger, development-focused projects as a result of collaborative investment efforts.The conversation also touches on the critical aspect of due diligence and establishing transparent, trustworthy partnerships within the real estate investment sphere. Jonathan emphasizes the necessity of aligning with partners who share similar visions and intentions, suggesting early, small financial commitments as a means to gauge compatibility and commitment.Investium, as Jonathan outlines, is not just a platform for connecting investors but also a community where serious, long-term investors can find like-minded individuals and embark on substantial projects, avoiding the pitfalls of solo ventures. He encourages listeners to explore Investium and reach out to him directly for guidance on navigating the platform and forming fruitful investment partnerships.This episode sheds light on the power of collaboration in real estate investment, offering insights and tools for individuals looking to expand their portfolios and venture into new markets with the support of a community-driven platform.www.investium.ai  _________________________________ 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

In the insightful episode of the Vancouver Life Podcast we tackle the groundbreaking rezoning legislation poised to reshape the British Columbia real estate landscape. This legislation, referred to as the Plex Plan, is described as the single largest rezoning initiative in the province's history, impacting hundreds of thousands of properties and aiming to significantly alter housing dynamics across the region. The hosts bring on Bill Laidler, a developer with a rich background as a realtor and an impressive portfolio of over 500 units currently under construction, to shed light on the intricacies of this transformative plan.Laidler provides a comprehensive overview of the Plex Plan, detailing how it intends to convert single-family lots into multiplex units, thus facilitating a new wave of housing development aimed at addressing the critical housing shortage in the province. He discusses the strategic advantage of homeowners becoming civilian developers through this plan, emphasizing the critical importance of collaborating with seasoned professionals to navigate the complex development landscape successfully. This collaboration is vital to avoid the common pitfalls that can arise during the development process, such as planning and zoning challenges, construction missteps, and financial risks.The conversation delves into specific aspects of the Plex Plan, including the criteria for property eligibility, exemptions, and the anticipated effects on property values and urban infrastructure. Laidler highlights the proactive measures property owners should consider, such as waiting for more clarity from municipal bylaws before embarking on development projects and the potential benefits of being early adopters in the market.Moreover, the discussion touches upon the broader implications of such a legislative shift, including comparisons with similar housing initiatives in other parts of the world, like New Zealand, where a comparable approach to multiplex development led to notable changes in housing affordability and market dynamics. Laidler points out the potential for significant shifts in community planning, infrastructure needs, and the overall character of neighborhoods as a result of increased density.Parking regulations, an aspect of urban development that directly impacts the livability and accessibility of neighborhoods, also come under scrutiny. The podcast explores how the Plex Plan addresses parking requirements for new developments.Laidler shares insights into the strategic considerations for property owners contemplating development under the Plex Plan, including the financial and logistical aspects of partnering with developers, the timing of project initiation, and the importance of market readiness.In wrapping up, the Vancouver Life Podcast episode emphasizes the monumental impact of the Plex Plan on British Columbia's housing market, offering a nuanced understanding of the opportunities and challenges it presents. Bill provides valuable advice for homeowners and potential developers, underscoring the need for careful planning, professional guidance, and a strategic approach to navigating the forthcoming changes in the 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

In January, the real estate market exhibited notable trends, providing insights into the trajectory of 2024. Total sales reached 1,427, marking a 39% increase from January 2023 and a 7% rise from December. However, this figure fell 20% below the 10-year seasonal average, signaling a slow start akin to the latter half of 2023.New listings surged to 3,788, reflecting a 14.5% rise compared to January 2023 but remained 9% below the 10-year seasonal average. Meanwhile, inventory experienced a historic anomaly, dropping 2% from December to 8,221, the first time January inventory was lower than December. This unprecedented occurrence raises questions about a potential year of low inventory, stabilizing the market.The market landscape shifted significantly over the past three weeks, with multiple offers becoming prevalent, particularly in the detached segment. The scarcity of available homes led to heightened competition and swift sales for desirable properties.The sales-to-active ratio increased to 17.3%, up from 15.9%, marking the second consecutive monthly increase after six months of declines. Detached homes saw a 12% ratio, up by 1%, townhomes increased to 26%, up by 7%, and apartments reached 20%, up by 1%.The average price in January was $1,161,300, indicating a 4.2% increase from January 2023 but a 0.6% decrease compared to December 2023. This decline marked the sixth consecutive monthly decrease, resulting in a total drop of 4% over six months and a $100,000 decrease since the peak in April 2022.January witnessed a spike in activity likely because many are having discussions about potential 2024 rate cuts. However, the landscape continues to shift, almost daily, as bond yields rose, USA job numbers exceeded expectations, foreclosures remained minimal, and arrears rates stabilized or increased only slightly. Canada's GDP exhibited a 0.2% rise, suggesting economic acceleration after three months of flat growth.The outlook for rate cuts has become more uncertain now than perhaps ever before. The job market remained stable with unemployment sitting at 5.8%, the economy expanded by 0.2%, and no significant signs of distress appeared. While markets initially priced in cuts starting in July, this could and will likely change given the evolving economic landscape.Looking ahead to 2024 predictions include the absence of a renewal cliff as 50% of mortgages that were set to renew already have. 2024 will likely see a mirroring of 2023 with low inventory and below-average sales volumes, and a shift in the buyer demographic. We also look at the challenge of predicting where interest rates will go and what a realistic inflation band looks like. Lastly, we touch on single-family homes, with building permits hitting a 45-year low translating to one new home for every 25 people added to the population - this is a disappearing asset class. Additionally, tear-downs are increasingly turning into duplexes or multiplexes, reducing available detached homes on land. The scarcity of single-family housing is anticipated to persist for at least the next few years, contributing to the rarity-driven dynamics of asset pricing. _________________________________ 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

Doug Porter, Chief Economist at BMO Financial Group, discusses Canada's economy and the impact on the real estate market. Topics include inflation reduction, potential regulatory changes in home mortgages, changes in home prices across Canada, the resiliency of the Canadian real estate market, and opportunities in the economy and specific industries.

In this insightful episode we engage in an in-depth discussion about the complexities and challenges of the Vancouver real estate rental market. The episode features a compelling narrative from Jeannie Ball, a landlord who recounts her tumultuous journey dealing with a rental property. This journey, fraught with challenges, leads her from confrontations with difficult tenants and the Residential Tenancy Branch (RTB) to an escalated case in the Supreme Court of British Columbia.Jeannie Ball shares her personal experience with her rental property located in Duncan, Cowichan Valley. Jeannie opens up about the trials she faced, including eviction proceedings, the discovery of significant property damage, and the ensuing legal entanglements. As the narrative unfolds, listeners are given a glimpse into the daunting legal battle Jeannie faced, uncovering unfair practices at the RTB that potentially affect thousands of cases across British Columbia.We delve deep into the repercussions of these legal challenges, discussing how such disputes and RTB’s practices can deter landlords from renting out their properties, consequently impacting the overall housing supply in Vancouver. The episode provides valuable insights and advice for both landlords and tenants who might be navigating similar situations, emphasizing the importance of understanding one's legal rights and procedures in rental disputes.Jeannie, in a call to action, urges listeners, particularly homeowners and landlords, to advocate for fairer practices at the RTB. She highlights the necessity of this for increasing housing availability and improving the rental market. The podcast concludes with a strong message encouraging active involvement and communication with housing authorities to foster a more equitable and accessible real estate environment in Vancouver.View The Supreme Court Outcome Ruling Documents:https://drive.google.com/drive/folders/19LVzuDeghMYH6YC7OxudU818QEskxOyZ  _________________________________ 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

Join us on this episode as we dive into an insightful discussion with Patrick Francey, CEO of the Real Estate Investment Network (REIN), renowned Canadian real estate investor, business owner, educator, and coach. With over 40 years of experience, Patrick is a luminary in real estate investment education and personal and professional development. His journey from humble beginnings to a celebrated Canadian-based real estate investor and speaker is truly inspiring.In this episode, Patrick shares his unparalleled insights into the current and future landscape of the Canadian real estate market. We explore the dramatic changes over the last two years, including higher interest rates, new taxes, the foreign buyer ban, and the impact on short-term rentals like AirBnB. Patrick offers his perspective on how these changes affect rental housing providers and the real estate investment landscape.We delve into the implications of new legislative changes in BC, specifically the Multi Plex Plan, and how investors and homeowners can benefit from these changes. Patrick weighs in on the importance of macroeconomic trends versus site-specific microeconomic trends in real estate investing.The discussion also covers the potential opportunities arising from the recent immigration surge, including micro units and modular homes. We look at local areas outside of Vancouver, like Langley, Surrey, and Port Moody, and their potential for future investment. Patrick gives his take on the viability of investing in high-priced areas like Downtown Vancouver and shares his insights on the Alberta real estate market, particularly Calgary's recent growth.We also compare Residential Tenancy Branch rules across provinces like BC, ONT, and AB, and Patrick imparts the unwavering principles he's learned in his four decades of real estate investing.Finally, Patrick introduces the audience to REIN and how it aids investors of all levels, from novices to seasoned veterans with extensive portfolios.Don't miss Patrick's valuable insights and join us for this enlightening conversation. For more wisdom from Patrick, tune into his "Everyday Millionaire Podcast."www.reincanada.comwww.instagram.com/pfranceywww.youtube.com/@mindsetmatters23https://www.linkedin.com/in/pfrancey🏡🔑💼 #PatrickFrancey #RealEstateInvesting #REIN #CanadianRealEstate #InvestmentInsights #TVLPodcast #EverydayMillionairePodcast _________________________________ 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

In this exclusive interview, we delve into the wealth of experience and expertise of Kyle Green, a renowned mortgage broker and investment property specialist. Since 2006, Kyle has been a pivotal figure in the real estate finance sector, especially known for his work with the Real Estate Action Group and numerous other investors. His accomplishments include funding over 4,000 mortgages and surpassing $1 billion in financed properties, marking him as a leading authority in Canada's investment property scene.Key Highlights:• Proven Track Record: Kyle's journey in the real estate sector, highlighting his specialization in investment properties since 2008 and his notable achievement in funding over $1 billion in mortgages.• Award-Winning Creativity: Discussion of Kyle's unique approach to real estate deals, including the award-winning $1.15 million property deal completed without any personal investment.• Innovative Tools for Investors: Introduction to Kyle's popular Cash Flow Analysis Spreadsheet, a tool widely used by thousands of investors.• Market Insights: Kyle shares his perspective on current real estate trends, focusing on high-demand areas and the viability of investment in places like downtown Vancouver.• Challenges in Real Estate Investment: Analysis of how governmental policies, like increased down payment requirements and AirBnB restrictions, are impacting real estate investors.• Investment Strategies and Recommendations: Kyle's advice on mortgage types, investment opportunities in Alberta, and predictions on interest rate movements.• Investor Sentiment and Market Trends: Exploring the current mindset of investors, potential shifts in market dynamics, and the impact of the Multiplex plan on real estate investment in Vancouver.• The Green Mortgage Team: An overview of the unique services and tools offered by The Green Mortgage Team to support clients in their investment journeys.Whether you're a seasoned investor or just starting in real estate, this interview with Kyle Green offers invaluable insights and guidance for navigating the complex landscape of real estate investment in Canada.🔗 Subscribe to our channel and don't miss out on more expert interviews and real estate tips!CONTACT KYLE GREENwww.greenmortgageteam.ca/kyle@greenmortgageteam.cawww.instagram.com/kylegreen_14/ _________________________________ 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

Canada's population surge and aggressive immigration policies have led to soaring home prices, high rental rates, and strain on infrastructure and the economy. The housing market is struggling to absorb the rapid growth, resulting in a supply deficit. The podcast explores the consequences of population growth and immigration, rising costs, anticipated rate cuts, and challenges for developers in Vancouver. It also highlights the difficulties in bringing housing projects to market and predicts a future housing deficit in Ontario and BC.

The podcast discusses the increasing activity in Vancouver's real estate market due to anticipated rate cuts by the Bank of Canada. It explores the impact of mortgage rates on real estate sentiment and compares the markets in Toronto and Vancouver. The potential consequences of a new municipal tax in Toronto are also examined, along with the effects of taxes, rental market, immigration, and property assessments. The speakers share personal experiences with housing assessments and offer guidance on challenging assessment values.