The Schreder Brothers Real Estate Weekly Roundup
What’s going on in Real Estate around the web & Other cool finds this week
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Is Vancouver’s real estate market really in free fall?
Real estate prices are no longer skyrocketing and sales are slumping in Metro Vancouver’s red hot real estate market for the second straight month, statistics released Friday morning confirm.
B.C. hotel deal count thrives, Metro housing affordability dives
A month from now the Western Canada Lodging Conference comes to town and will look back on a year of record volume in investment deals signed – not only in the real estate market as a whole (word has it that the tally for the first half of the year alone will approach $6 billion), but specifically in the hotel sector.
Vancouver becomes Canada’s first ‘city of millionaires,’ study finds
A strong housing market is making Canadians wealthier, on paper, as the value of their homes outstrips a rising amount of debt.
Household debt across the country grew by 4.1 per cent last year to an average of $133,170 while average household net worth increased slightly more, rising by 4.3 per cent to $680,098, according to the latest WealthScapes analysis by Environics Analytics. That leaves many households in decent financial shape despite challenging market conditions.
It’s a buyers’ market for detached Vancouver homes: Realtor disputes Real Estate Board findings
Is it really still a sellers’ market with a 26 per cent decline in sales this August compared to the same time period last year?
The August report from the Real Estate Board of Greater Vancouver had President Dan Morrison saying sellers still have the upper hand.
B.C. Liberals must pull off balancing act on real estate: observers
Public outcry over British Columbia’s sizzling real estate market pushed the province’s Liberal government to introduce a foreign-buyers’ tax last month, but uncertainty around the policy leaves little room for political manoeuvring before next year’s election, once the impact of the tax is better understood, experts say.
B.C. government will not reconsider tax on foreign homebuyers, says premier
he plunge in real estate sales and deceleration in price increases in the Vancouver area last month were exactly what the government was trying to manoeuvre, and Premier Christy Clark says there will be no changes to the foreign-buyers tax.
Clark told reporters Tuesday that her government will not reconsider the 15-per-cent tax that is intended to calm what she called a “distorted market.”
China’s Largest Overseas Real Estate Firm Sees A Surge In Vancouver
The foreign buyer tax may not have had the impact BC Liberals were hoping for. Juwai, China’s largest international property portal, has seen a surge in inquiries for homes. Huh? I know what you’re thinking, demand is down – but it’s not down in the way you would think. Foreign buyers are making less risky investments, and that will likely drive low-end prices higher.
50-storey education centre proposed for former Surrey Stardust roller rink site
A developer has announced plans to replace the former Stardust roller rink building in Surrey city centre with a $200-million, 50-storey education centre.
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