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Do you ever see a comment online that you just have to respond to? It happened to me this weekend. There was an online debate about — what else is new — Vancouver real estate, and young people feeling they have to leave the region because it's too expensive. Laura Ballance, the owner of a PR company that represents some of the largest events and companies in Vancouver, tweeted: "For the record, it was the same in the early 90s. So I left, worked hard, bought where I could afford, sacrificed having nice cars & vacations & dinners out, fixed up & sold 13 houses & worked my way back." Now, I'm a reporter that loves statistics, historical comparisons and talking real estate. But I'm also a renter in my early 30s who has lived in converted garages and basement…
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Vivagrand Developments is planning to develop a 22-storey tower on a corner lot at Davie and Nicola, just the latest tower in a wave of development sweeping across the West End. The new tower will contain 107 market condominiums and 51 “social housing” market rental apartments to replace the units lost in the existing four-storey apartment building. 85 per cent of the market condominium units will be two bedrooms or larger. There will be separate entrances for the rental apartments and the market housing, and the building will be surrounded by a large water feature on both the Davie and Nicola frontages.

Apartment buildings on Davie Street

Original news retrieved from Urban YVR
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Vancouver’s real estate market is “showing a high degree of vulnerability” – for the seventh quarter running, according to Canada Mortgage and Housing Corporation’s (CMHC) latest quarterly report. The January 2018 Housing Market Analysis, issued January 30 and assessing activity in 2017’s third quarter, found that the Vancouver Census Metropolitan Area’s housing market “continues to be rated as having a high degree of vulnerability.” The report continued, “CMHC’s valuation models continue to signal strong evidence of overvaluation as [Vancouver’s] house prices exceed fundamentals [such as local income and economic growth].”

Vancouver's real estate market

News originally retrieved from Vancouver Courier
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