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

In today’s episode, we're diving deep into the world of economics and financial forecasting with none other than Doug Porter, a luminary with over three decades of experience in analyzing global economies and financial markets. As the Chief Economist at BMO Financial Group and the mastermind behind the influential publication 'Talking Points', Doug not only shapes the macroeconomic and financial market forecasts but also leads a team celebrated for its precision in forecasting, clinching the #1 spot across notable awards and surveys. From starting his illustrious career at the Bank of Canada to becoming a revered voice in economic commentary, Doug's journey is nothing short of inspirational. His insights have not only earned accolades but have also made him a sought-after commentator in the press and on air. Stay tuned as we explore the mind and motivations of the man who's been at the forefront of economic forecasting, offering a rare glimpse into the intricacies of financial markets and what it takes to lead a team to the pinnacle of success in the challenging world of economic analysis.In this episode we explore the nuances of Canada's economy and its direct impact on the real estate market. Porter, with his three decades of experience, provides a comprehensive overview of the current economic landscape, noting a significant reduction in inflation from over 8% in the summer of 2022 to around 3%. He attributes this decrease to effective monetary policies that have managed to curb inflation without precipitating a recession. Despite this success, Porter forecasts modest growth for the Canadian economy, primarily due to the lingering effects of recent interest rate hikes, projecting a modest real GDP growth.Porter also delves into the future of interest rates, suggesting potential cuts in the latter half of the year, given the downward trend in inflation and the economy's modest growth. He highlights the significant influence of mortgage interest costs on inflation, suggesting that future rate cuts could alleviate some of this pressure. On the topic of the housing market and affordability, Porter discusses the resilience of Canada's real estate market amidst high interest rates and addresses concerns about the "renewal cliff" of mortgages due for renewal in 2025 and 2026. He downplays these concerns, expressing confidence in the market's ability to adjust to these challenges.The conversation also touches on global economic factors, such as supply chain disruptions in the Red Sea, and their potential impact on inflation. Porter believes these factors will not drastically alter the inflation landscape, emphasizing that the primary drivers of inflation are now services, housing, and wages rather than goods. Looking ahead to 2024, Porter identifies opportunities in the tech sector and resource industries, particularly mining, driven by the global push towards decarbonization. He acknowledges the inherent risks and uncertainties in economic forecasting, especially in the current volatile environment, but remains optimistic about Canada's economic resilience and the potential for growth in specific sectors.The interview with Doug Porter offers invaluable insights into Canada's economic prospects and the interplay between economic policies, global factors, and the real estate market.  _________________________________ 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 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

Over the past two years, Canada has witnessed an unprecedented surge in its population which has recently garnished a lot of attention due to its significant consequences on various aspects in the country. This surge has been fueled by headlines surrounding escalating home prices and rising rents, leading to a further exploration of its implications on infrastructure, the economy, inflation rates, and interest rates.The roots of this population surge can be traced back to the government's aggressive immigration policies, resulting in a staggering increase of 1.2 million people in the past 12 months alone. The immediate effects have been felt in the real estate sector, with rental rates reaching all-time highs just four months ago. Additionally, the healthcare system is strained, schools are overcrowded, and the electrical grid in British Columbia recently hit an all-time high approaching its maximum capacity!This population boom has thrust Canada into what is termed a "Population Trap," where rapid growth outpaces the ability to maintain living standards due to insufficient infrastructure and housing plans. The government's seemingly forgotten lessons from the extreme monetary policy changes during the COVID-19 pandemic are now mirrored in immigration policies, creating a situation with long-term consequences.The housing market, in particular, is grappling with the challenge of absorbing this unprecedented rate of growth. The supply deficit has reached alarming levels, with only one housing start for every 4.2 people entering the working-age population, compared to the historical average of 1.8. Despite government initiatives, housing starts in 2023 were 7% lower than in 2022, falling far short of the required 150% increase.Economically, Canada finds itself in a precarious situation as policymakers grapple with the implications of population growth on GDP. The capital stock (on a per-capita basis) has been trending downward since the mid-60s. All signals point to it collapsing in 2023, leading to stagnant growth in real GDP per capita terms. This situation, referred to as the "Population Trap," is typically seen in emerging economies, not established ones - raising concerns about Canada's economic prosperity.We also delve into the recent Consumer Price Index (CPI) data, pointing out the rising inflation rates attributed to factors such as base-year effects with gasoline and escalating shelter costs, particularly rents. The potential for higher interest rates in the short run is becoming more real and the long-term strains on housing, healthcare, and education systems (because of immigration policies) emphasize the need for a better plan to tackle these challenges.Other short-term problems are presenting themselves as another Vancouver high-rise project has moved into receivership. This story sheds light on the challenges of developing housing supply amid stringent regulations and the large financial risks faced by developers. Overall, this weeks podcast paints a comprehensive picture of Canada's current demographic and economic landscape, highlighting the urgency for more logical and strategic policies to navigate these challenges successfully. _________________________________ 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 real estate market in 2024 has seen a surge in activity since January 1st marked by increased optimism not witnessed in almost a year. In this episode we look at several factors that are contributing to this shift, with a primary focus on the Bank of Canada's anticipated actions, fixed mortgage rates, Toronto's unique market dynamics, the rental market, and immigration issues.The BoC is expected to implement rate cuts in 2024, with projections indicating the first cut likely in March. Forward looking markets now suggest the overnight rate is anticipated to end the year at 3.5%, a decrease from 3.75% last month and 4.25% in November. Rising debt loads, mortgage renewals and lower job vacancies are key factors influencing this decision. Although a cut in January is not expected, the meeting on the 24th could hold potential surprises, contingent on inflationary trends.Fixed mortgage rates are decreasing, with deeply discounted rates hovering around 5.2%. Real estate sentiment is increasing due to the anticipation of lower interest rates, reflected in the RE Confidence Index rising from 37 to 45 in 8 months. Despite this, buyers still face higher than average interest rates, tempering buying behaviors and prices. With the average cost of mortgages still 60% higher than pre-pandemic levels, we don't foresee a rush back to the marketplace or pandemic pricing to return.Looking to Toronto's real estate market, which faced significant challenges in 2023, with the lowest home sales (66k) since 2000. However, a sudden spike of 21% in December sales suggests a potential shift, though likely due to the new municipal land transfer tax that was implemented in the new year. New listings fell by 13% in December, causing a notable increase in the sales-to-listings ratio. Prices dropped 1.3% last month, totaling a 15% decrease from record highs. The supply-demand dynamic will likely influence price trends in the coming months.Turning to the rental market, December rental data is showing stability in asking rents, with Vancouver leading the country in rates. Burnaby experienced a significant 15% year-over-year increase landing itself as the second most expensive rental market in Canada. Toronto remains relatively flat, while Guelph, ONT, saw a 2.3% drop in 1-bedroom rents.With 1.2 million immigrants in the last year, the housing market has experienced increased stress. Rental rates reached an all-time high in 2023, and healthcare and education system strains are emerging. The long-term impact of these challenges is expected to persist throughout 2024 as these are not easily fixed.Lastly, we look at the recent property assessments in BC which have been released by the BC Assessment Authority, with most markets showing a 5% increase or decrease in single-family home prices. While some experts attribute this to homeowners making adjustments to cope with rising living costs, latent data indicates HPI avg home values are actually down 3.5% since the assessments were conducted.  _________________________________ 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 our first episode of 2024, we dive into the December stats to wrap up 2023 and present our predictions for the year ahead. This podcast episode covers two exciting topics: the year-end Vancouver Housing statistics and our predictions for 2024, focusing on economic drivers and real estate trends.Starting with the December stats, noting that total sales reached 1,345, marking a 3.2% increase from December 2022. While somewhat better than last December, this figure is still 36.4% below the 10-year seasonal average. This continues to indicate a decreasing trend in sales. New listings in December 2023 were 1,327, reflecting a 10% increase compared to the previous year but still 22.7% below the 10-year seasonal average!The inventory stands at 7,594, showing a dramatic 43% month-over-month decrease, this is big - even for December. This low level of inventory historically leads to a bullish year in prices, as seen in 2016, 2017, 2021, and 2022. The sales-to-active ratio is 18%, up 1.7% which is a little baffling considering the notable drop in sales and continues to highlight a year that never saw a buyer's market! Looking to prices, price dropped to $1,168,700, down $16,400 or 1.4%, marking the fifth consecutive month of price decreases and a 3.6% drop overall. Days on market have increased to 24, up 4 days from the previous month.Transitioning to predictions for 2024, we dive into the would-be economic drivers for our region and what that will do to real estate forecasts. Despite facing recessionary headwinds and what will likely be a further slowing in the economy before the BoC reveals their much anticipated rate cuts, there's increasing optimism, particularly in real estate sentiment looking at the latter half of 2024.In the almost impossible world of real estate forecasting, we are anticipating a much different year from 2023. Dan and I go through the major economic drivers for 2024 which help provide insights into the local economic arena that will dictate how the real estate sector performs and predictions for it. In this part of the episode we delve into interest rate predictions, inventory and home price predictions - we even look at which markets will outperform the GVRD.The episode is packed with great content as we consider the notable trends, challenges, and opportunities that are expected to shape the real estate landscape in 2024. _________________________________ 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 our latest episode, we ventured back in time to the start of 2023 to review the predications we made about how Real Estate in 2023 would unfold. Beginning with Marco economic drivers, global trends and then backing down into the local economic real estate market. We made bold predictions and share insights on various economic fronts some with great accuracy and others... without!For example, Covid was a huge topic at the start of 2023 and Ryan's foresight was intriguing, especially his anticipation of a second supply chain shutdown linked to another virus surge - However, the unfolding reality proved he couldn't have been more wrong but as he alludes to in the episode, he was also very happy about being wrong on this one! On a different note, Dan's accurate prediction of a world without more lockdowns demonstrated a more accurate understanding of the evolving situation.The war in Ukraine emerged as a focal point and while Ryan envisioned a time where the world could have come to Canada for it's vast amounts of energy resources. Unfortunately, governmental restrictions, moral high grounds and not a enough infrastructure built emerged as the limiting factors, overshadowing the potential he foresaw for a potential resource boom.Navigating the realm of quantitative easing and tightening, Dan's foresight proved accurate as he predicted a Quantitative Tightening (QT) scenario for the remainder of the year, resulting in a drop in Canada's money supply. We discussed the potential of a recession which brought mixed results from both of us. Dan's technical stance against a recession held true, although per capita data revealed a rise in unemployment. Conversely, Ryan prediction of a minor recession aligned with the actual outcome, including his predictions on GDP, inflation and wage growth fell ended up for more accurate than he anticipated.Immigration took center stage, surpassing the expectations outlined by both Dan and myself. The repercussions on rental numbers unfolded as predicted although neither of us saw rents rising by 8% on average before the end of the year. Turning our attention to the job market predictions framed a 5.2% unemployment rate, Dan's foresight on wage growth and unemployment rates proved remarkably close to reality. Ryan's slightly higher unemployment forecast may yet find equilibrium in future data but not by the end of this year!We looked closely at Inflation which was running at 6.8% during the initial predictions recording and mortgage rates saw a deviation from both of our forecasts, indicating the unpredictable nature of financial institutions and proving that no one can anticipate Tiff Macklem's strategy or the kinds of information the BoC will deem important at any given time. Stock market movements are currently near all-time highs as, which when you consider the quantitative tightening that took place over the last year, we're not sure anyone could have guessed the S&P 500 to experience a surge of this magnitude. From there we got into Vancouver Real Estate price prediction, immigration levels, federal, provincial and municipal policy changes and lastly which markets out performed the GVRD in 2023!Definitely tune into this entertaining episode and have a laugh with us as we found out where we went wrong but also what we got right as we hold ourselves (at times) embarrassingly accountable to our 2023 predictions. _________________________________ 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 Canada, the third-quarter population growth has reached historic levels, with a quarterly increase of 431,000 people! This marks a 1.1% growth rate, the highest since 1957. The annual growth rate is 1.25 million people, or 3.2%! However, this growth contrasts with a 22% decrease in housing starts from the previous year, posing a significant challenge for government and developers amid a housing deficit and high interest rates. According to BMO, the current rate of population growth would necessitate 170,000 new housing units every three months.Alberta leads the country in population growth at 4.3%, contributing to record real estate prices in Calgary. The surge in population is predominantly in the Non-Permanent Resident (Non-PR) segment, which increased by 47% in three months, reaching a total of 2.5 million. This growth, along with other factors like infrastructure stress and rising rental rates, has raised concerns about sustainability and potential impacts on various sectors, including healthcare.Despite the remarkable population growth, there are indications that the trend may peak soon. Notably, there is a decline in net permanent population growth, with approximately 500,000 newcomers offset by 100,000 people to various locations around the globe. Additionally, the largest interprovincial migration loss in 20 years happened this year with 13,000 people leaving British Columbia.Factors such as a slowing job market and increased requirements for international students may contribute to a potential slowdown in population growth in the coming year. The job market has seen a significant decline from one million job vacancies to just over 600,000, a 40% decrease. Consumer insolvencies are on the rise, with a 26% year-over-year increase in October. Although this is still below pre-COVID levels, the dollar volume of these filings has surged by 90%. Business insolvencies are even more pronounced, spiking by 63% year-over-year, reaching the highest levels since 2011.In the mortgage and bond yield landscape, markets are anticipating significant cuts in 2024 potentially as much as 1.25% expected by the end of the year. Bond yields have steadily decreased, prompting major banks to consider deeper discounts on fixed-rate mortgages. Mortgage growth has been weak, growing only 3.4% year-over-year in October, but there are signs of stabilization and increased demand, particularly for variable-rate mortgages.However, the potential risks lie in the risk of re-acceleration in inflation, which could impact the Bank of Canada's decision-making on rate cuts. Although consumer spending and business insolvencies are expected to decrease, the overall health of the economy remains a concern. While Canada's debt levels are eye watering, Canadians actually have $6.5 dollars in assets for $1 of debt despite the pinch everyone is feeling, Canadians do have the ability to pay for housing, emphasizing their prioritization of mortgage payments even in challenging economic 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

The Federal Reserve's recent decision to maintain interest rates during their final meeting of the year has ignited discussions in financial circles. While the decision itself was expected, the surprise came with the central bankers' projections for 2024. The Fed now anticipates a total of 75 basis points in rate cuts next year, indicating a departure from earlier projections. This trend is mirrored by traders and economists in Canada, which are now pricing in 4-5 cuts in 2024, totalling 125 basis points, based on potential challenges for the Canadian economy as it seeks to balance growth and stability.The potential rate cuts have reverberated into the mortgage market, with bond yields dropping significantly. This has led to a reduction of over 40 basis points in fixed-rate mortgages, bringing them into the mid to high 5s. The improved affordability is a welcome change, as mortgage payments for a typical Canadian home have decreased for three consecutive months, totaling a $145 per month reduction. This shift is particularly significant given that housing affordability hit an all-time low in Q3, and the current developments offer a more positive outlook for prospective homebuyers.The rationale behind the anticipated rate cuts goes beyond the housing market and stems from a broader economic perspective. Canada, 20 months into a rate-hiking cycle, is grappling with weaker-than-expected GDP growth, evident in a Q3 decline of -1.1%. Economic concerns are further exacerbated by a decline in consumer confidence, rising unemployment rates, and a notable reduction in hours worked. Financial services, including banks, have seen a significant decline in employment, indicating a rapidly slowing economy. The implications of these economic challenges are prompting central banks to consider rate cuts as a potential stimulus for economic growth.Economist David Rosenberg's analysis provides additional context, suggesting that Canada may be heading into a recession with more severity than the United States. The inverted yield curve since July 2022 and Canadian banks tightening credit guidelines indicate a cautious outlook. Rosenberg argues that the government's reliance on debt and excessive house price inflation, coupled with an immigration boom, may be unsustainable, potentially leading to a challenging economic scenario. As the Bank of Canada contemplates rate cuts, the overall economic landscape calls for careful consideration and preparation for potential challenges in the coming year.As the economic landscape evolves, the real estate sector becomes a focal point for analysis. The Bank of Canada's consecutive decisions to hold rates over three meetings has stimulated a rising outlook in real estate sentiment. Despite consumer sentiment experiencing a decline, the real estate outlook has increased for four consecutive weeks since bottoming in November, indicating a potential shift in market sentiment. This could signify an early indicator of what might unfold in terms of sales volumes and prices as 2024 approaches, especially in light of the recent Fed hold and rate cut predictions.Cautiously optimistic may be the term for 2024 as rate cuts will all but certainly result in an increase in home sales and ultimately prices, though the central banks could then easily change their tone and increase rates again should overall exuberance increase too far.  _________________________________ 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

This week's podcast has us looking into a number of pretty big changes taking place in our economy this month, along with a close examination of both the November Real Estate Stats for Vancouver and the impact of the decision by the BOC, to further hold rates.With the BoC having maintained interest rates at 5%, in line with expectations due to a slowing economy and decreasing inflation rates, marks the third consecutive hold, reminiscent of the pattern observed in 2020 when rates remained at 0.25% for almost two years! The current stability hints at a potentially stabilizing economic landscape, with attention shifting to the possibility of rate cuts in the new year.The decision to hold rates is influenced by a softer-than-expected October inflation reading at 3.1% y/y. Gasoline price declines, contributing to a 0.1% m/m drop in the headline index, were a key factor. Core inflation, which the BOC monitors, decelerated from 4.0% to 3.8%. The combination of falling inflation, a weakening labor market, and subdued economic growth indicates a further holding in rate hikes, with expectations of rate cuts as early as April next year.Arrears rates have increased slightly to 0.16%, with Saskatchewan having the highest rate at 0.58%. The podcast discusses the government's response to potential challenges in mortgage renewals through the "Canadian Mortgage Charter." However, it's noted that the charter lacks legal backing, presenting it more as a symbolic gesture than a concrete policy shift.The GDP fell by an annualized rate of 1.1% in Q3, below the BOC's expected 0.8% growth. Real GDP per capita has declined for a fifth consecutive quarter, indicating a weakening economy. Meanwhile, recent cooling in the bond market is anticipated to result in savings for those seeking fixed-rate mortgage products in the latter half of 2025 or 2026.Predictions about rate cuts are prevalent now, with markets pricing in 3 to 4 quarter-point cuts by the end of next year. While this may benefit some mortgage holders, there's also the potential negative impact on the economy, especially considering factors like job losses and negative GDP continue to get worse.Local November sales statistics for Vancouver didn't change much, noting a 4.7% sales volume increase from November 2022 but a significant drop in sales volume of 17% m/m. Inventory remains a central theme and a sales-to-active ratio officially indicating Vancouver is in a balanced market. Prices have seen a 1% decrease from October 2023, marking the fourth consecutive month of declines but still reflecting a 4.9% increase over November 2022.Tune in and get the full story on our ever-changing Vancouver 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

This week we dive deep into the real estate landscapes of Toronto and Vancouver, Canada's largest real estate cities with Merete Lewis, an Agent with Chestnut Peak Real Estate out of Toronto. We dissect the recent trends and statistics that are shaping both property markets and we look at which city is fairing better under the current economic climate.In Toronto, the month of October witnessed a notable softening in home sales, hitting levels not seen since 1995, with less than 5000 sales. Despite this, immigration remains robust, creating a dynamic where the market feels akin to holding a beach ball underwater. As we explore the data, we unveil a deepening Buyer's market in both cities with new listings surging and inventory reaching levels not seen since 2012. With the Housing Price Index (HPI) on a multi month decline, those looking for a deal may soon find one.Shifting our focus to Vancouver, a decline in sales of 13% in September and October has continued into November, resulting in a 19% downturn. Despite flat new listings, the sales-to-new-listings ratio indicates a declining price environment, favouring buyers. The counter-seasonal increase in inventory for the first time in 20 years, coupled with a consecutive decline in the HPI, suggests a market that is adjusting. While prices are currently 5% higher than last year, the trend indicates a nuanced situation.As we navigate through these statistics, we aim to validate the trends by comparing them to real stories on the ground. We delve into questions surrounding market sentiment, the impact of recent economic changes, and the challenges faced by both buyers and sellers.Reflecting on our previous discussion about the similarities between Toronto and Vancouver, we observe how both markets bounced back in the spring but have since experienced shifts. Toronto, in particular, faced challenges in October, which was only marginally better than the previous year after significant rate hikes. The sentiment has changed, and the market has transitioned into a much slower market.Our conversation extends to specific queries about the Toronto condo market. With headlines portraying a challenging scenario, we seek to uncover the real story. Are investors assigning condos at lower values or walking away from deals? How is the market responding to the current conditions? _________________________________ 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 a significant move to boost housing supply, the federal government has unveiled a groundbreaking initiative following six months of record-high rental rates. A substantial $1.2 billion in low-interest loans is earmarked for the construction of 2,644 rental homes across seven new projects in Toronto. This aligns with Toronto's ambitious plan to build 65,000 new rent-controlled homes by 2030, with funds totalling $30-40 billion, or approximately $500,000 per home. While these measures address the supply issue, their impact may not be felt for 5-10 years.Shifting to the pre-sale market, the surge is noticeable as resale inventory lags below averages. Over 3,500 pre-sale units hit the market in October across 20 projects, marking the largest release in 2023. With an anticipated 1,450 units in November, the absorption rate in October was 27%, slightly below the typical 30% for this season. The looming question: will investors retreat due to the Airbnb ban?In the US, the annual inflation rate slowed to 3.2% in October 2023, surpassing market forecasts. Despite a 4.5% drop in energy costs, housing expenses accounted for over 70% of inflation. The positive outcome boosted the stock market, with the S&P experiencing its best day since April, the Dow rising 500 points, and the Canada 5-year bond dropping by 20 bps. Keep an eye out for Canada's announcements on November 21 and December 19.National headlines from major news outlets paint a picture of the housing market entering a 'hibernation' phase, echoing a slowdown in sales, listings, and flat prices. While October saw a 17% decline in home sales below pre-pandemic levels, regions are affected differently. Ontario and British Columbia are entering a buyer's market, with moderately lower prices predicted by economists. Conversely, Alberta remains the outlier as Calgary's benchmark prices rose by 9.4% in the past year. Despite high rates, market activity suggests prices are generally holding, though sellers are adapting to collaborate closely with buyers.Now, turning to the unique landscape of the Greater Vancouver Regional District (GVRD), despite 20 months of rising interest rates and a 35% decrease in buying power, home prices have only dropped 5% since the peak, up 6% from a year ago.  Over 1 million mortgages have renewed with rates 2-3 times higher, yet no significant increase in mortgage arrears is noted. With less than 1% of listings as court-ordered sales and inventory 25% below long-term averages, the GVRD market remains remarkably stable, evidenced by average prices rising $10,000 and median prices up $5,000 halfway through November. _________________________________ 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 week's episode, we delve into the very challenging landscape faced by developers across major Canadian cities, a slowing national economy, more job losses and slowing GDP all the while we see some of the highest rental rates on record. We start with the gripping tale of a Toronto-based developer embroiled in a receivership debacle, owing creditors a staggering $200 million, putting their ambitious Mimico project in jeopardy. The ambitious plan promised to transform the Mimico Triangle with an expansive mixed-use space including condos, greenways, retail, and office spaces. As the situation escalates, we can't help but feel the intensity of the struggle faced by these builders.Shifting gears to Vancouver, we uncover a web of rumors surrounding some of the city's prominent developers. Amidst a plethora of unpaid bills and multiple lawsuits, the company is fervently denying any financial trouble, with various claimants yet to prove these allegations in court. However, this is not the first time this prominent developer has faced legal issues, with previous lawsuits marring their reputation across various buildings.Amidst these troubling developments, we uncover the larger challenges facing developers in the current market. With high-interest rates impacting the industry, several projects, including one in the Metrotown area and another in East Vancouver, are struggling to meet sales targets. Seeing projects for sale and others pausing or cancelling altogether, the landscape has changed drastically from just a few years ago. Even as governments advocate for affordable housing, the reality on the ground seems far from supportive. Developers are caught between the stringent demands of the market and the need to provide viable housing solutions.Adding to the mounting pressures, the recent spike in development cost charges in Metro Vancouver has added to the financial burdens, leaving developers and eventually their Buyers grappling with how to deal with these costs. Despite the efforts to combat the housing affordability crisis, the recent move by the British Columbia government mandating high-density, transit-oriented developments has its own set of challenges and implications, further adding to the complexities faced by developers.As the economic landscape continues to fluctuate, with employment rates and sales figures witnessing a decline, the impact on the housing market is palpable. Toronto's housing market is facing its lowest sales since 1995, with inventory levels soaring to unprecedented heights. Similarly, the rental rates across Canada, particularly in Vancouver and Burnaby, have hit new highs - again! _________________________________ 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

This week in real estate, the landscape has been bustling with significant developments that are set to impact the Canadian market extensively over time. First off, the announcement made by David Eby regarding the sweeping rezoning legislation across the entire province has stirred things up. The legislation now permits the construction of multifamily units on any single-family lot, effectively transforming the housing prospects across British Columbia. This move comes in response to the record-high immigration figures, with the immigration minister affirming they will increase immigration to 500,000 people next year and then they will maintain that target for the next three years!In the United States, the Federal Reserve has also decided to hold its current interest rate, reflecting a similar trend seen in Canada as both economies begin to slow heading into the winter months. Furthermore, a fresh GDP update in Canada indicated stagnant economic growth despite rapid population expansion, pointing towards further economic slowdown. In fact, Q2 CND GDP reports have been revised downwards from flat, to negative. The 5-year bond yield in Canada has also witnessed a significant drop of 10% in the last week and a half, leading to expectations that fixed-rate mortgages will also soften in the coming months.Turning our attention to the October real estate statistics in Vancouver, the volume of sales has shown a very moderate increase from the previous year, yet they remain considerably below (-29.5%) the 10-year historical seasonal average. This is due largely to high mortgage rates deterring potential Buyers from the space. Meanwhile, new listings have been increasing and although overall inventory has experienced a slight dip, with the market leaning towards a balanced state, we should see continued trajectory towards a balanced and in some cases a Buyer's market. Notably, the HPI price has displayed a downward trend now for three consecutive months, while the median price has been on the rise.In terms of housing market's dynamics, the average days on the market remain steady at 12, indicating a swift turnover for well-priced properties. Despite the overall slowdown, certain high-demand properties are still generating significant levels of interest, as demonstrated by recent multiple offer scenarios we describe in the podcast. Well-maintained properties that are priced to market in a desirable neighborhood are continuing to sell and in some cases with competition.Looking ahead, it is expected that the current subdued level of activity will persist throughout the remainder of the year and will likely spill over into 2024, largely influenced by the rate hikes implemented nearly two years ago now compounded by seasonal fluctuations. Additionally, the slowing down of the US markets is projected to have a ripple effect on the Canadian economy and real estate landscape, further contributing to the prevailing market conditions as consumer sentiment remains pessimistic. _________________________________ 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 a recent article, Doug Porter, Chief Economist for BMO, revealed a startling reality: rents in Canada have surged by 8.2% year over year, marking the fastest pace since 1983! Moreover, for the first time in 60 years of records, income growth has trailed behind rents by a significant margin. These figures set the stage for a profound discussion with local Property Manager and founder of Greater Vancouver Tenant and Property Managment, Keaton Bessey.Adding to the narrative, November's Report from www.Rentals.ca highlights that the annual rate of rent growth in Canada was 9.9% in October, the second-fastest increase in the past seven months. Vancouver leads the pack with astonishing average rent of $2,872 for a 1-bedroom and $3,777 for a 2-bedroom, while Burnaby closely follows, surpassing Toronto at $2,647 for a 1-bedroom and $3,341 for a 2-bedroom.Armed with these facts, we delve into a series of questions with our esteemed guest, a seasoned property manager with 13 years of experience, to unravel the mystery of how we got to this point and whether it was an inevitable outcome as soon as home home prices began their surge.We shed light on the potential impact of the current economic conditions on the rental market and with signs pointing to a slowing economy, we explore whether lower GDP output and a possible recession could be key factors affecting rental prices. Will an economic downturn slow down rent increases, or is it fundamentally a supply-related concern?On the more contentious topic of rent controls, particularly in Vancouver, where opinions are divided, Keaton provides unique insights into whether rent controls work, and if not, what alternative solutions might exist to address the soaring rents and the city's distinction of having the highest average rent in the country.We also look at rent collection under the current economic climate as it's a great indicator of where the economy lies as well as we look examples of renters breaking leases and what it means for both tenants and landlords. We also put Keaton on the spot as we ask him to peer into his crystal ball as we explore predictions on future rental rates. Will they go up or down, and what factors contribute to this projection?Finally, the conversation touches on immigration and its impact on the rental market. Despite staggering immigration numbers, we explore why many newcomers don't transact until they earn their permanent residency as well as touching on how to rent to new commers and the steps you should take as a landlord to protect yourself. _________________________________ 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 week's podcast, we delve into the implications of the latest interest rate announcement, rising (and in some cases surging) levels of inventory, consumer sentiment and the all-important mortgage space. The Bank of Canada's cautious tone was underscored by their acknowledgment of the mounting impacts of past rate increases on economic activity and inflation. Their statement, "the path to a soft landing is narrow," essentially underlined the precarious position we now find ourselves in, hinting at the looming potential of a recession. Recent indicators like the downward spiral of per capita GDP and plummeting retail sales, now at their lowest point in 2023, have further accentuated the need for a cautious economic approach. Surprisingly, this week marked a rare rift between policymakers. Political figures like David Eby and Doug Ford recently implored the Bank of Canada for a cessation of rate hikes, to which the Bank responded firmly by emphasizing its political independence, urging governments to consider their spending and its inflationary consequences!The BoC has indicated that inflation is not expected to normalize now until 2025. However, market speculations are already pricing in a potential rate cut in June 2024 which could see us ending 2024 at 4.25% after a series of small cuts. Meanwhile, the steady erosion of consumer and business confidence levels, sinking below historic lows, has further exacerbated economic concerns in the short run. On the real estate front, despite a surge in mortgage activities indicating a possible return to stabilization, affordability issues persist as the affordability index reached its highest point since the '90s. Moreover, burgeoning listings, coupled with the gradual rise in inventory, might signal a potential shift in the market, evoking memories of the 2015 landscape, where prices dropped sharply amid elevated inventory. Adding to the economic intricacies are the proposed amendments to the short-term rental laws in British Columbia which have sparked a heated debate; highlighting the delicate balance between regulatory control and market demands. As we analyze these intertwined factors, it is becoming clear that our economic landscape is at a critical juncture, where cautious maneuvers and decisive policy decisions will shape the trajectory of our collective financial future. _________________________________ 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

Today's recent announcement that The Bank of Canada has opted to maintain interest rates at 5% marks the fourth instance of holding rates during the ongoing rate hike cycle. The decision comes in the wake of a press release highlighting several concerns, including the weakening global economy, the surge in oil prices, ongoing geopolitical uncertainties, and persistent inflationary pressures. Today we unpack that decision with Mychal Ferreira, Bank of Montreal's number 1 mortgage broker in the country. Despite the apparent stability in rates, the Canadian economy continues to grapple with the aftermath of previous rate hikes, as evidenced by lower consumer spending and critical shifts in the housing market. Indicators suggest that the balance between supply and demand is gradually stabilizing, but the overarching concern remains the sluggish progress towards achieving price stability and the escalating risks of inflation. As a result, the door remains open for the possibility of further rate increases, emphasizing the cautious stance of policymakers.Interestingly, markets had accurately anticipated the decision to hold rates, corroborating the notion that the current cycle of rate hikes might be reaching its culmination. Observing the larger picture of 2023, the year has witnessed a modest 0.5% increase in rates, providing some semblance of cresting rates considering the year before. However, for many Canadians, this minimal respite fails to offset the substantial impacts of the staggering 475 basis point hike experienced over the past 19 months and what it will do as mortgages terms mature.With approximately 70,000 mortgages up for renewal every month and individuals increasingly resorting to lines of credit and credit cards to navigate the high rates, the strain of the elevated rates is palpable. The imminent renewal of 331 billion Canadian mortgages in 2024, originating from an era of relatively lower rates, will further underscore the real impact of the persistently high rates on households.To shed light on the current mortgage landscape, Mychal highlights the significant impact of the rate hikes on those with 5-year fixed mortgages. With an average overnight rate of 1.75% when these mortgages were initially obtained, the current 5% rate implies a substantial increase in mortgage payments and the dynamics that Banks may need to offer to keep people in their homes.There's growing sentiment that the trajectory of rates in today's marketplace are peaking for this cycle and are expected to hover around 4.5% by the end of 2024. Barring a black swan event, there's growing potential for a rate cut in the summer of 2024, followed by gradual adjustments to achieve a neutral rate over 2025.Pre-sale valuations are also an area of concern, with many builds completing today. There are those who are experiencing valuation deficits and qualification issues because they did not pursue financing options at the time of their pre-sale purchase. We touch on how to avoid this and how folks are taking possession of their new builds today, with 30yr amortization periods at a 2.5% interest rate!Contact Mychal:mychal.ferreira@bmo.com778.288.3173@mychalmortgages _________________________________ 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 provincial government is creating even more restrictions around Air bnb operators with a recent announcement made by Premier David Eby and Housing Minister Ravi Kahlon regarding a proposed ban on short-term rentals in British Columbia. There are however, some exceptions for smaller municipalities and specific resort but their intent here is step up enforcement with bigger penalties and to discourage landlords and investors from removing properties from the long-term rental market. At a time when the region is grappling with soaring rental rates, predominantly impacting the condominium sector, the government is creating more restrictive policy by attacking demand, turning away long term investment and damaging the tourism sector in some of BC’s most important communities.Instead of looking at ways of boosting new supply, the proposed ban includes provisions for increased fines and the establishment of an enforcement unit. However, there will be potential challenges in enforcing the new regulations, especially if those who were utilizing Air bnb decide to create short term rentals on other platforms like Facebook Marketplace or Craigslist. Air Bnb Canada has argued that the proposed legislation could adversely affect the income of residents who currently hold Air bnb properties and reduce tourism spending in affected communities like Kelowna, Penticton and many others. Furthermore, they also believe bans like this won’t do anything to help with the overall housing crisis that the province finds itself in.Moreover, the argument as to whether the potential implications of the ban, its efficacy in addressing the housing crisis here in BC and its impact on investors and the tourism sector will actually make an impact. It feels largely like a knee jerk reaction to the loud cries of affordability in the rental market. To be seen as trying to make an immediate impact for constituents who are really grappling with the outcome of negligent public sector housing planning & legislation over the last two decades. The truth of the matter is that the policy is aimed at a small group of investors who do not have a large enough footprint in the market to make a considerable impact on the rental market. Nor were these operators the ones who created the housing shortage. Moreover, if current operators of Airbnb can’t achieve a net positive cashflow from long term renters in the absence of short-term rentals, the assets will sell to new end users - which still leaves the renter with no new inventory. Lastly, this week we touch on the current dynamics of the housing market, shedding light on the declining housing starts amid a significant influx of immigrants, resulting in a market standstill. Additionally, insights are provided on the latest inflation figures and findings from the MNP Consumer Price Index insolvency firm's quarterly survey, revealing mixed sentiments among Canadians regarding their ability to manage debt in the face of rising interest rates and a cooling economy. _________________________________ 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

Consumer confidence in the Real Estate market is a vital economic barometer and has taken a worrisome downturn. In September, confidence plummeted to levels nearly as low as during the peak of the pandemic and the Global Financial Crisis, setting off alarms that a recession may be looming. A significant red flag emerged as respondents expressed a high degree of pessimism, with 70.5% feeling that it's a bad time for major purchases! This pessimism isn't confined to households; it's also evident in the business community. Furthermore, per capita GDP is showing further signs of contraction, declining at a rate not seen since the financial crisis. This metric holds significant importance as it provides a glimpse into the state of the middle class, reflecting the overall health of the economy. Comparatively, Canada's population growth remains uncertain, with fluctuations and significant undercounts. The latest data shows a record year-on-year population growth of nearly 1.2 million, following a sharp downward revision in the previous quarter. Interestingly, this revision came after reports that temporary residents had been undercounted by approximately 1 million, an issue that Statistics Canada did not dispute! These discrepancies highlight the lack of clarity in understanding Canada's actual population growth and shows how our immigration program has been run amuck. In the real estate market, Toronto is experiencing a substantial slowdown, with sales declining by 1.8% month-over-month and 3.6% over the past two months. Sales have dropped by 22% since their peak in May, particularly impacting the condo and detached housing segments, which are both at 20-year lows in terms of sales. This drop in sales has led to a surge in inventory, which has risen by 11% month-over-month and 44% year-over-year! New listings have also increased, reaching levels 10% above the norm. Investors with an 80% loan-to-value ratio and today's mortgage rates are facing negative cash flows of -$1,375. This marks a significant departure from being cash positive just a few years ago and may lead to further increases in condo inventory. Vancouver has not yet experienced the same levels of negative cash flow and is currently sitting around the five-year average, which is 40% lower than 2020. In the construction sector, there has been a decline in the number of dwellings under construction in Toronto, with a 4.2% drop in August, the most significant decline since 2015. This decrease is particularly noteworthy because under construction counts had been steadily increasing since 2016. A similar trend is also visible in Vancouver, with a 1.2% decline in September, driven by a 2.4% drop in the condo segment. The real estate sector is typically a leading indicator for the overall health of the economy. As more and more households struggle with higher and higher rates, we suspect more pain will come before it gets better. Tune into this weeks Podcast and get the full breakdown. _________________________________ 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 week’s episode, we're diving into the current state of the Fall real estate market with the September Stats and it's not looking very (pumpkin)spicy. With falling prices, low sales volumes, high mortgage rates, and a significant lack of inventory to choose from, it's shaping up to be quite a challenging season for both buyers and sellers.Let’s look at the numbers - We saw a total of 1,926 sales in September, which is a 20% decrease compared to August. This marks the fourth consecutive month of declining sales, which is unusual for the Fall market - although perhaps it isn’t when you consider the circumstances. However, September still surprised us with year over year sales volume increasing by 13%, but still 26% below the 10-year seasonal average.At that pace, it’s looking more and more like there won't be a traditional 'fall' market this year, as high mortgage rates and below-average sales volumes are likely to persist throughout 2023 and into 2024.New Listings are up! In September, 5,446 properties were newly listed, showing a 28% increase year-over-year and a 5.2% rise above the 10-year seasonal average. Interestingly, monthly new listings have rarely exceeded the 6,000 mark since 2005, remaining relatively steady over 18 years despite a 600,000 increase in GVRD population.Total inventory sits at 10,647 listings and this is only the second time it has crossed the 10,000 mark in the past year, increasing by 7% month-over-month. While inventory is up by about 100 listings compared to the previous year, it remains 40% lower than pre-pandemic levels. We expect a slight climb in inventory for October and November and we should also mention that foreclosure rates account for a negligible 0.005% of the total inventory.The Sales to Active Ratio has us sitting in balanced market territory at 17.7%, this ratio is down 6.3% month-over-month and a significant 19% since the peak in May when it hit 37% - a strong Sellers market. This marks the first time the market has reached a balanced state since January, albeit for just one month.The Housing Price Index (HPI) has dropped for the second consecutive month, down 0.4% month-over-month to $1,203,300. While this reflects a 4.4% year-over-year increase, prices are only down 5% from their all-time high in April 2022, despite substantial increases in mortgage rates. Median prices have seen some fluctuations, jumping by $65,000 but recovering from a $78,500 drop the previous month to reach $965,000, which is 3.5% under the all-time high!Join us on the podcast this week and get the full story! _________________________________ 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 podcast episode, we delve into the pressing housing crisis in Canada, particularly focusing on British Columbia and Vancouver with the release of the much anticipated multiplex plan. There’s a number of challenges faced by local councils when it comes to enacting new by-laws for any kind of real estate but particularly when it comes to an initiative of this magnitude. With city council looking at a mid-October deadline to enact the new law, we could see real change coming soon!Recent newspaper headlines have indicated that municipalities could be ordered to build up to 60,000 new homes across ten municipalities within the next five years in BC. Although, we’re not quite sure how to order a developer to build a new home under today’s current economic climate - as such the emphasis for aggressive incentives will be required to see the projects success. Take the Housing Accelerator Fund for example, a federal policy that would grant the District of North Vancouver $9 million dollars subsidize 3,000 homes... which amounts to just $3,000 dollars per home - an amount that has been scrutinized for its perceived inadequacy.We also explore the need for both short-term and long-term housing plans that address the demand that exists within the country. We discuss the importance of housing policy reform, addressing rent controls, streamlining permitting and rezoning processes, and adjusting tax structures. Immigration policies need to be re-aligned with available housing capacity and we discuss the need for adequate incentives to not only builders but also investors and current home owners who elect to supply housing within our tight market.Lastly, we delve into and discuss the comments from local mayors and we consider the recent actions from the Minister of Finance, who announced that the annual limit for Canada Mortgage Bonds is being increased from $40 billion to up to $60 billion. This will help to unlock low-cost financing for multi-unit rental construction as will the removal of GST on the construction of rental units and no cost to rezoning thanks to the multiplex plan and the accelerator fund. All good starts.. but will it be enough or is it just a drop in the proverbial bucket? _________________________________ 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

On September 14th, Vancouver City Council greenlit the MultiPlex Plan, a sweeping rezoning strategy aimed at introducing more flexibility into residential development within Vancouver. This ambitious plan consolidates nine residential zones into a single R1-1 Residential Inclusive zone, affecting the majority of single family lots in the Vancouver East and Vancouver West areas. There are also some notable areas that are exempt from this and we discuss them mid way through our podcast episode.The MultiPlex plan allows for between 3 to 6 or even up to 8 units per lot, with a maximum density of 1.0 Floor Area Ratio (FAR) and a building height cap of 37.7 feet, typically limited to three stories. For example, a 4,000 sqft lot could support a 4,000 sqft building.It's estimated that approximately 65,000 lots will be affected by the sweeping zoning amendment and around 200 multiplexes could be constructed annually, potentially accommodating an additional 1,700 people when they are eventually built. With that said challenges such as infrastructure upgrades, parking solutions, and the impact on local schools & hospitals still loom. So far the City of Vancouver website has yet to provide more detailed information.Simultaneously, on September 14th, the Prime Minister unveiled the Federal GST Rental Rebate initiative, aimed at incentivizing the construction of purpose-built rental housing across Canada. This enhanced rebate, effective for projects commencing construction from September 14, 2023 onward, until December 31, 2030, increases the GST Rental Rebate from 36% to 100%. Eligibility extends to new purpose-built rental housing projects only.While the rebate serves as an incentive for rental housing construction, we question whether it’s enough to spur significant growth in the rental housing market. In order to create a more favourable landscape to take a project like this on, measures such as removing rental caps or indexing them to inflation will be required to further stimulate development.Canada's inflation rate continued to surprise to the upside for the second consecutive month in August, with the Consumer Price Index (CPI) surging to 4.0%, up from 3.3%, surpassing expectations of 3.8%. Looking ahead, it is anticipated that inflation will accelerate for one more month in September before a potential cooling trend in October. Even if inflation maintains an average monthly increase of 0.2% from this point onward, the year-end projection for 2023 points to a rate north of 4%, which is a concerning figure for the Bank of Canada.This episode has a ton of great value including more information on the record amount of immigration, historic lows for building permits and rising mortgage rates all converging at the same time! _________________________________ 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

This week is a jam packed episode that really underscores the housing crisis in Canada is hitting unprecedented levels. With projections from the Canada Mortgage and Housing Corporation (CMHC) indicating a severe shortage of up to 4 million housing units by the year 2030, this crisis is expected to have far-reaching consequences, including a staggering 89% increase in housing prices over the next 6 years, according to CMHC estimates. That puts the average home price at an eye-watering $2,295,000 by 2030. To put this into perspective, you would need to save $181,000 per year until 2030 just to offset the difference in price from today’s number.Although it may seem impossible, these projections come against the backdrop of a relatively modest 15% increase in housing prices over the past six years. However, the past four years have witnessed a more significant surge, with prices climbing by 36%, harking back to the alarming 84% increase observed from 2010 to 2016.GDP data offers insights into the country’s overall economic health and depending on how you look at it, two out of the last three quarters have seen a decline in GDP and the last quarter having contracted. This signals that the interest rate hikes imposed over the las 18 months are beginning to take effect. Household spending has hit a two-year low, and residential investment has plummeted for five consecutive quarters. While it has returned to pre-COVID levels, new home construction has dropped by 8.2%.While building permits are at 20 year lows, developers with imminent projects have moved forward. In Greater Vancouver, inventory has increased by 11% in the first two weeks of September, reaching its highest level in three years, potentially indicating a more favourable market for frustrated buyers in the short run. In terms of rate hikes, expectations have shifted significantly. Initially, there was a nearly 100% probability of a 0.25% rate hike by January 2024, but this has now dropped to around 40%. The markets now believe that Canada may have reached a rate hike peak, barring unexpected large increases in inflation reports. The fear is that a contracting GDP may lead to a recession, with the potential consequences yet to be fully understood. So much to unpack in this one! _________________________________ 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

This week we sat down with Ethan Astaneh from Nicola Wealth, an independent wealth management firm dedicated to serving the complex needs of high-net-worth individuals, families, and institutions. The firm services clients across Canada and has amassed a $14 Billion dollar portfolio - a considerable portion of which is invested in real estate. In this  episode, we discuss the Canadian residential real estate market and dive into a number of different topics from the performance of each asset class to the impacts of higher interest rates and the shortage of supply.We examine key metrics and consider each housing types position on the market. We look at condos, townhouses, and detached houses across the GVRD and discuss whether they sit in a buyers' or sellers' market. We also take a deep dive and explore the impact of rising interest rates on the market and how it has affected different housing types, including data on building permits and housing starts.We also consider current mortgage rates and the potential wave of renewals at higher rates in the next 2-3 years due to low-rate debt taken on throughout the pandemic and their impact on affordability, inflation and rental rates. Diving into Vancouver's multiplex plan, which was announced in the Spring of 2023, we discuss its purpose, the implementation phase and what it could mean for single family home owners in Vancouver.When markets shift, so does the psychology behind residential real estate. We unpack the sentiment in the market place, what buyers and sellers are considering in today’s marketplace. Finally, we end the episode by identifying key opportunities and risks over the next 6-12 months as we navigate the current market dynamics.  _________________________________ 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

This week we unpack the recent Bank of Canada decision to hold interest rates steady at 5% and we review the latest stats for the month of August from the REBGV. With respect to interest rates the market got the hold it was hoping for and considering our recent history of 10 rate hikes and 3 holds, this decision came at a crucial juncture for Canada's economic landscape. The central bank's press release revealed that while inflation remained stubbornly high, the Canadian economy actually contracted in the second quarter of the year, which likely presented a dilemma for policymakers and helped enforce the decision to pause rates. They were faced with compelling reasons to both raise and lower rates but ultimately chose to maintain the status quo.One of the key statistics that caught everyone's attention was the significant miss in Canada's GDP growth projection for the second quarter. It was expected to grow by 1.5%, but instead, it contracted by 0.2%. This sudden economic setback raised concerns and provided the backdrop for the Bank of Canada's decision.On the employment front, the picture was more stable. Employment remained strong which was a sharp contrast to the previous month that shed more than 60,000 jobs. 40,000 jobs were added in the month of August while at the same time another 100,000 people immigrated to Canada in August! However, with that said, the central bank still pointed to "excess demand easing" and emphasized the lagging effects of previous monetary policy decisions as reasons for holding rates. The Bank also expressed its concern about underlying inflationary pressures and asserted its readiness to raise rates further if necessary, underscoring its commitment to restoring price stability and reducing inflation.August sales numbers were relatively flat, and that’s to be expected this time of the year as it’s a historically slow month. Total sales saw a notable 21.5% increase from the previous year, a significant shift attributed to more people entering the market, even at the current 5% interest rate. This was surprising and reiterates that markets respond to stability. This time last year, rates were increasing at an incredible pace but were still half of what they are today. However, despite this surge in sales, the numbers remained 13.8% below the 10-year average, indicating a market still struggling to reach its full potential.New listings also saw an 18% increase compared to the previous year, but they remained 5.3% below the 10-year average, pointing to a persistent lack of inventory. The most intriguing aspect of the August statistics was the inventory situation. Overall inventory dropped by 6.5% compared to July, marking the first decline in seven months. Although inventory remains below 10,000 units for the eighth consecutive month. Get this and so much more as we take a deep dive in this weeks episode. _________________________________ 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

This week we took a look at how the month of August was rounding out as well as providing our predictions for the Fall Market and the highly anticipated interest rate announcement next week. There have been 2,300 sales with a 20% year-on-year increase. However, these numbers are still below long-term averages. The inventory has remained consistently below 10,000 properties for the ninth consecutive month. The sales-to-active-listings ratio is approximately 24%, indicating that it still remains a seller's market throughout 2023, except for January. While average prices have increased by $10,000, the median prices have plummeted, experiencing an 8% decrease or a drop of $78,000 to $900,000, erasing all gains made in 2023. Various sources suggest that the BoC is expected to hold steady at 5.00%, with a minority anticipating one more rate increase. These predictions are based on assessments from Reuters, RBC, Oxford Economics, and interest rate future markets. With that said, there's still about a 30% chance of a 0.25% interest rate change in September and a 70% chance by the end of the year. The decision by the Bank of Canada (BoC) to raise rates could cool the market further, dampen consumer confidence, and restrict credit flow even more putting the risk of recession very much at the forefront.We also look at the first and second-quarter GDP results which are likely to show a sharper slowdown in economic growth, with an expected growth rate of 1.1%, down from 3.1% in the first quarter and below the BoC's estimate of 1.5%. Historically, there’s typically an uptick in activity throughout September and possibly October which could help stabilize prices, however, the housing market is likely to continue to slow down as the overall economy inches down and unemployment rises. A moderate recession could change the narrative around interest rates and inflation but are likely to be months if not at least a year away from recovery. Tune into this weeks podcast and catch our other predictions about the fall market - What will rents do? Are prices still going to rise? _________________________________ 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 recent times, the global economy has witnessed unexpected shifts in inflation rates, interest rates, and various economic indicators that have significant ramifications for the housing market. This synopsis delves into the multifaceted implications of these changes and how they are shaping the present and future landscape of real estate in Vancouver and Canada.The August Inflation print has taken economists by surprise by exceeding initial estimates. While the anticipated inflation rate was around 3%, it surged to 3.3%, a substantial increase from the previous 2.8%. Although economists had predicted a rise, the extent of the increase caught many off guard. A primary driver of this inflation is the significant surge in mortgage interest costs, soaring by an alarming 30% year over year! This inflationary pressure has led to market uncertainties, influencing sentiments and investment decisions.The unexpected inflation surge has also spurred adjustments in interest rates. The next central bank meeting, scheduled for September 6th, holds pivotal importance as it will influence the fall market sentiment. Market forecasts have priced in a 90% chance of an interest rate hike within the year and a 30% chance of a hike at the upcoming September meeting.Current estimates indicate interest rates will stay elevated at their current rates for at least another year and unlikely that we will see interest rates cuts for some time. Market predictions and central banks have repeatedly pushed back the anticipated timeline for rates to decrease, causing uncertainties for those seeking stable, lower rates. The effects of rising interest rates are reverberating through the mortgage market. Borrowers who enjoyed historically low rates over the past five years are now confronted with the possibility of refinancing at higher rates, around 5% to 6%. This substantial rate hike translates to a 50% increase in mortgage payments. The surge in inflation has not only impacted interest rates but also propelled bond yields to a 16-year high of 4.15%. This surge in bond yields has contributed to pushing fixed mortgage rates even higher, dampening the enthusiasm of potential homebuyers. The average fixed mortgage rate offered by leading banks hovers around 5.6%, further exacerbating concerns about affordability.Despite economic fluctuations, population numbers continue to surge. International student admissions have risen by 21% year over year, with temporary workers experiencing an even more staggering 45% increase in June and a 71% increase for the second quarter. This influx of temporary workers has elevated the ongoing public discourse about the potential negative impacts of population growth on the overall economy and social infrastructure. Is immigration the real problem - or is it the lack of housing supply over the last 40 years the real contributing factor to this issue?We discuss this and many of these points on this weeks episode. _________________________________ 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 ever-evolving landscape of the Vancouver real estate market, homebuyers find themselves grappling with a compelling question: How long will they be forced to navigate the challenges imposed by elevated interest rates? In this insightful episode, we engage in a candid conversation with Mychal Ferrera, the No. 1 BMO Mortgage Specialist in the country, to gain a comprehensive understanding of the current state of interest rates as we try to anticipate their trajectory for the remainder of 2023. We also focus on the Top 5 most frequently asked questions that dominate the minds of those considering property purchase in this challenging environment. Variable Rate versus Fixed Rates? How much of my monthly income should I expect contribute to home ownership especially considering how expensive it’s become? Furthermore, we delve into pertinent topics such as signs of panic selling, major debt restructuring, the dynamics of new mortgage originations, and the unconventional economic circumstances that are defining this time.It was somewhat expected that this month's inflation rate has surged to 3.3% over the past month, marking a 0.5% increase. Notably, the cost of mortgages has surged by an alarming 30.6% over the course of the year. Amidst these disconcerting statistics we discuss the potential for interest rate stability and whether the BoC will raise rates in September. We both take a different stance of this and for very different reasons.We also discuss whether Buyer’s should go ahead with the decision to purchase amidst high rates or if they should wait for a more favourable climate? Mychal provides great insights into the advantages and disadvantages of both approaches. He addresses the potential repercussions of delaying purchase decisions and how to navigate your financial position in this challenging time. Check out the episode for more information!Contact Mychal:mychal.ferreira@bmo.com778.288.3173@mychalmortgages _________________________________ 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

Introducing Lendlord: Revolutionizing Real Estate Investment Analysis and ManagementAttention investors and realtors! Are you tired of spending endless hours analyzing investment properties? Imagine a platform that not only stores and tracks your entire portfolio but also provides real-time ROI insights. What if obtaining financing for your next project was as simple as clicking a button? Today, we unveil a game-changing solution that's both free and available right now.Developed by two visionary minds merging Tech and Finance expertise, Lendlord addresses critical challenges within the investment realm. I had the privilege of interviewing one of the creators, who offers an exclusive peek into the software's inner workings.Lendlord delivers an abundance of value to its users at no cost. Moreover, for those who stay tuned till the end, I’m excited to announce a special offer: a complimentary 3-month trial of the Premium version, complete with a plethora of enhanced features.Intrigued? Let's delve into the remarkable capabilities of the Lendlord platform, poised to revolutionize your real estate investment experience.Thank you for joining us today, and here's to prosperous investing with Lendlord!3 FREE MONTHS of the Premium Version here: https://lendlord.io/vancouver-life-real-estate-ca _________________________________ 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 Vancouver real estate market, is facing a persistent and thorny challenge with low inventory that shows no signs of abating. This week week we delve into the factors contributing to the prolonged shortage of housing in Vancouver, exploring the implications for potential buyers in the marketplace.Currently, the Vancouver market requires an influx of approximately 60% more inventory to achieve a balanced and sustained state. However, the phenomenon of low inventory is not a recent development here; it has been a consistent feature of the Vancouver real estate landscape over the past two decades. The city has experienced a sustained buyers' market only two times in the last two decades – during the Global Financial Crisis (GFC) and in 2012 for a combined total of 14 months. Interestingly, these downturns were not primarily due to a surge in listings but rather a decrease in buyer activity.The construction industry, the tip of the proverbial real estate spear, is showing a concerning downturn. Immigration, which was anticipated to boost the sector, has not produced the desired effects. Last month alone, the industry lost 44,000 jobs, marking a 4% decline over the past three months. The last time we saw a slump like this was during the Global Financial Crisis and the early 90s recession. Moreover, the residential building permits have plummeted, reaching the lowest level in over a decade.Shifting focus to overall unemployment, there’s more to worry about. The unemployment rate has surged to 5.5% in the last month, increasing by 50 bps in just 3 months. Such an escalation is seldom observed outside of recessions. Also, the accuracy of these statistics should be questioned due to rapid population growth over the past year, potentially leading to an underestimation of the unemployment rate. Notable job cuts by Telus, RBC, and BMO area adding to the economic concerns.The topic of affordability also presents a gloomy picture. The 5-year bond rate has surpassed 4.1%, reaching a 15-year high. This has consequently driven up fixed rates by 12 basis points in a week, making homeownership even more unattainable. The affordability crisis has reached such an extent that even individuals earning over $100,000 per year are seeking assistance from organizations like Habitat for Humanity to secure rental units or purchase homes!How does this compare to Canada’s other major market in Toronto? Join this weeks podcast and get the whole story! _________________________________ 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 July 2023, the Vancouver real estate market underwent significant changes, presenting a complex landscape for buyers and sellers. The month saw 2,455 properties sold, marking an impressive 29% increase from the previous year. However, this apparent surge in sales volume masked an underlying trend of consecutive declines in summer months, suggesting a slowdown in overall market activity. In fact, the number of sales was found to be 15.6% below the 10-year seasonal average of 2,909, signaling a potential shift in the market dynamics.A major challenge faced by buyers now is the scarcity of inventory. With only 9,639 properties available for sale, the market experienced a significant 16% drop in inventory from the previous year. This shortage has persisted for eight consecutive months, with the number of available properties remaining below the 10,000 mark! The limited inventory played a crucial role in driving up property prices throughout 2023, making it difficult for buyers to find suitable options and cratering affordability.Adding to the complexity for buyers, mortgage rates reached a 22-year high during this time. The combination of high rates and low inventory created a difficult environment for potential investors and first-time buyers, leading to a majority of sales being driven by existing homeowners looking to move.New listings in July 2023 brought some relief, with a 17% increase compared to the previous year, with 4,649 new properties entering the market. However, this optimism was dampened by the fact that sales volumes has now declined for two consecutive months, and the number of new listings was 5.2% below the 10-year seasonal average. These trends suggested that August's real estate data would likely show continuing lower listings, sales volume, and potentially even prices.Despite the challenging market conditions, property prices continued their upward trajectory. The Home Price Index (HPI) rose for the seventh consecutive month, with prices increasing by $7,000 in the last month alone. This represented a 0.6% increase from the previous month and a 0.5% increase from July 2022. Remarkably, the HPI was only 4% below the all-time high, indicating the market's resilience despite the high mortgage rates. Additionally,  the median price of homes rose by $20,000 to $978,500, and the average price increased by $3,000 to $1,274,000. _________________________________ 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 current economic landscape is a complicated story and this week we focus in on several key areas, including the recent Federal Reserve (Fed) rate announcement, challenges posed by inflation, a cabinet shuffle in Canada, housing market trends, national updates, affordability concerns, credit trends, and the potential signs of a looming recession. This podcast offers our unique perspectives on the economic indicators and their implications on the various housing sectors.Starting with the recent US Federal Reserve rate announcement. The Fed has raised its interest rate by ¼ point, bringing it to the highest level in 22 years, similar to Canada's rate increases. Moreover, the Fed signaled the likelihood of yet another hike in 2023, especially if the economy continues to show signs of improvement. Despite the rate hikes, the US economy remains very resilient, with Q2 GDP surpassing the estimated 1.8%, coming in at 2.4%. Additionally, the stock market is showing an upward trend, indicating that there is currently no recession in the USA.The inflation challenges we may face in the future in Canada haven’t gone anywhere and with rising oil prices and increased mortgage interest payments, there are some key factors contributing the inflationary pressures. Recent data shows that oil prices have surged over the past month, and in Canada, rental rates in Toronto have seen significant increases, which may drive up the Consumer Price Index (CPI) basket. Based on this data, it is expected that inflation could be a concern over the next three months, with interest rates likely remaining around 5% for the next 12 months.National home sales are recording a 25% increase from the lows experienced at the end of 2022. However, it is expected that the run-up in home sales will plateau for the time being. While listings have started to increase slightly, they still remain below long-term averages. Active listings are predominantly in Ontario, with a current count of 130k, which is half of what they were in 2015. Though prices have risen by 2% in June and 6% over the last three months, the Home Price Index (HPI) indicates a potential downturn in the housing market.Affordability concerns faced by homebuyers are as real as they’ve ever been. Mortgage rates have reached levels last seen in 2007. The average monthly payment required to purchase a typical home in Canada has surged by 12% in just four months, hitting $3,500 per month, raising even more concerns about housing affordability for most Canadians.Credit trends have revealed that new mortgage growth has been slowing since Q2 2022. Borrowers are increasingly opting for short-term fixed-rate mortgages, accounting for 80% of recent mortgages. Additionally, credit card debt has been surging since January 2021, although foreclosures remain near all-time lows due to homeowners prioritizing mortgage payments.The economic landscape remains dynamic, with both positive and concerning indicators. As the Fed and the Canadian government navigate inflationary pressures through interest rate adjustments, the housing market experiences shifts in demand and supply. Affordability concerns and credit trends also play critical roles in shaping the economic outlook. Furthermore, potential signs of a recession warrant close monitoring to anticipate and respond to economic challenges effectively. _________________________________ 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

Thinking about selling your home and want to know when is the best time?Well knowing when not to sell is equally as important.I’m going to give you 5 compelling reasons why you shouldn’t sell your home in 2023.Selling your home is a big decision, you only get 1 chance to maximize the sale price and walk with as much capital as possible.This video was created to offer some insights into how holding on to your property even longer could potentially result in a higher sale price in the future AND share insights into how you may be able to hold that property indefinitely, yet still be able to access the equity to make the move into your next property, or help finance your retirement years.   _________________________________ 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

Inflation in Canada has been easing, with the current rate standing at 2.8%, the slowest since March 2021 and down from 3.4%. The largest factor contributing to this decline was lower gasoline prices compared to the same period last year, showing a decrease of 21.6%. However, shelter costs have risen by 4.8% year over year, driven by significantly higher mortgage interest costs (up 30.1% from the previous year) and increased rents (up 5.8% from June 2022). Moreover, grocery prices have surged by 9.1% year over year.Analyzing the inflation trends, it has been on a downward trajectory for a year, starting from July 2022 when rates were at 3.75%.  With the overnight rate at 5%, and inflation within the target band of 1-3%, the looming question becomes, does the BOC continue to raise, hold or start to cut? The Bank of Canada estimates inflation to hover around 3% for one year and gradually decrease to 2% by mid-2025, signaling that rates may very well need to remain around 5% for the next 2 years.    This would dramatically alter the housing landscape. In the housing market, housing starts have been fluctuating, with Canadian housing starts rising by 41% to 280k units in June, following a 23% decline in the previous month. Compared to the same month last year, starts were up by 4%. In British Columbia, new housing starts rose significantly by 61% to 66k units in June, showing a 17% increase from June 2022 levels. While there is an overall upward trend in housing starts, they have not fully recovered from the lows observed in mid-2020 and 2022. Additionally, despite the current level of construction, it is not keeping up with population growth.Affordability remains a concern due to high interest rates. Purchasing the average priced GVRD home at $1.2 million with 20% down requires a buyer to have an annual income of $215,000 and carry no debt. This has led many potential buyers into the rental market, driving up rental prices. Canada's average rent reached a new all-time high in June at $2042, with average annual rents increasing by 20% over the last two years. In Vancouver, one-bedroom rents were up by 18% year over year and two-bedroom rents by 14% year over year.Short-term rentals have seen a significant increase, with 4,100 active listings, up by 37% year over year. This surge comes at a time when many people are struggling to find long-term rental accommodations, creating further challenges in the rental market.High interest rates are keeping people in their homes, resulting in limited housing inventory in the immediate future. The cost to build new housing is prohibitive, leading to concerns about affordability. The population continues to grow at a record pace each quarter. As interest rates are expected to remain high for an extended period, more individuals may face financial strain, and many who bought homes in the last five years may no longer qualify for their current properties.No matter what type of housing you are in, looking for, renting, building or selling - it’s a struggle for almost everyone out there.   _________________________________ 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 Bank of Canada (BOC) announced a 0.25% interest rate hike, marking the 10th increase since March 2022 and bringing the overnight rate to 5%, the highest in 22 years! The move comes as the Canadian economy, which has been stronger than expected, is expected to slow down due to the impact of higher interest rates. Although recent inflation rates have eased to 3.4% in Canada and 3% in the United States, the core inflation rate remains at 3-4% and has been more persistent than anticipated. The BOC now forecasts a return to its 2% inflation target in mid-2025, instead of the previously projected 2024.The increase in interest rates has had a significant impact on the bond and mortgage markets. The 5-year bond rate has surged to 4%, the highest since 2007, leading to fixed mortgage rates around 5.2% and variable rates around 5.9%. These rates are the highest in 15 years and have further challenged affordability, with monthly mortgage payments increasing significantly.The sentiment in the housing market has also shifted, as sentiment levels have dropped, resulting in reduced spending and housing demand. The labor market has shown signs of weakening, with the unemployment rate increasing over the past three months, which is the largest increase since 2019.Population growth in Canada has reached a record high of 1.2 million in the last 12 months, with non-permanent residents accounting for 60% of the increase. This has put extreme pressure on the rental market, with high rental rates and landlords resorting to renting out individual beds to meet the demand.In the Toronto market, sales have declined by 7% and inventory has increased by 19%. However, sales are still up 15% year-over-year, with a 20% increase in condo volume. Prices have risen by 2.5% in the last month and 9% in the past four months. The investment condo market has become less attractive for investors, with negative cash flow and decreasing rental returns.Looking at Calgary, the housing market continues to strengthen, with home sales rising 5% month-over-month and setting a record for the month. Sales in Calgary were up approximately 10% year-over-year, particularly in the condo segment, which experienced a 50% surge. Overall inventory is at a 10-year low, leading to increased prices.These developments indicate that the already financially strained marketplace is facing further pressure due to the recent interest rate hike, with talks of additional increases and higher rates for the foreseeable future. The housing and business sectors are likely to experience significant shifts if interest rates remain high for an extended period. _________________________________ 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 real estate market experienced notable trends and shifts in June 2023. This episode focuses on key metrics for the month of June. We take a look at total sales, new listings, inventory, the current sales-to-active ratio, and pricing trends. By examining these factors, we gain insights into the current state of the market and can make informed projections for the future.In June, the total sales reached 2,988 units, marking a 21% increase compared to the same month in the previous year. However, sales experienced a significant decline of 14% from the previous month, making it the first decrease in five months. A common theme we see in June is a typical summer slowdown, which was likely exacerbated by a surprise rate hike and the heightened anticipation of another hike the following week. Overall, the total sales were 8.5% below the 10-year average; however this does not reflect the change in pricing we’ve seen so far this year. This downward trend indicates a temporary cooling of the market that we tend to see in the summer months.The Home Price Index (HPI) continued its upward trajectory for the sixth consecutive month, increasing by $15,000 or 1.3% to reach $1,203,000 in June. This milestone marked the first time in 12 months that the HPI surpassed the $1.2 million mark. Throughout 2023, the HPI has experienced a significant increase of $90,400, representing an 8% rise. However, when compared to June 2022, the HPI was down 2.4%, and it currently sits 4% below the peak reached in April 2022. The lagging nature of the HPI suggests that it is essential to examine other metrics for a comprehensive understanding of the market.The median price experienced a decrease of $23,000 to $957,000 in June, marking the first decrease in six months. Similarly, the average price declined by $41,000 to $1,270,000, the first decrease in five months. Projections for the future indicate a flat HPI, with a potential 1% drop by the end of August. The median and average prices are expected to remain stable. However, a rate hike could extend the downward trend. It is worth noting that low inventory remains a significant factor in keeping prices buoyant.The HPI continued to rise, reaching a new milestone, but lagged behind previous year figures and the peak in April 2022, not to mention this is a lagging price indicator. Median and average prices experienced their first decreases in several months. Looking ahead, the market will continue to stabilize, with the HPI remaining flat and a potential 1% drop by the end of August. However, the trajectory may be influenced by external factors such as another rate hike. The foundation of low inventory is likely to support price stability in the coming months despite what we could see from the BoC. _________________________________ 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 recent months, inflation in Canada has shown a downward trend, with the rate dropping from 4.4% to 3.4%, the lowest it has been since June 2021! The decrease can be attributed primarily to a significant drop in gas prices, which have declined by an average of 18%. However, despite this overall decline, several items in the consumer price index (CPI) basket have registered higher prices. Groceries have seen a significant increase of 9%, while rent has risen by 5.7%. The most notable contributor to the year-over-year CPI increase is the surge in mortgage interest costs, which have skyrocketed by 30%. When these self-inflicted mortgage interest costs are excluded, the CPI stands at 2.5% in May, down from 3.7% in April. This is important because if the Bank of Canada (BOC) lowers rates and removes the mortgage interest cost element, it could bring inflation closer to their target. It is anticipated that the June inflation print may be below 3% according to the BOC's forecast from a few months ago.The timing of interest rate drops depends on the BOC's main mandate, which is to control inflation. To lower interest rates, the BOC requires prolonged sub 3% inflation, along with solid GDP growth, a robust labor market, and a rebounding housing market. However, financial markets currently expect the BOC to raise its benchmark interest rate by another 25 basis points to 5% at its next meeting on July 12th.Canada has experienced a significant population growth, with an increase of 1.2 million people in the past year as of Q2. This growth is approximately 3X the 10-year average and raises concerns about the sustainability and impact of such rapid population growth. In particular, the growth in non-permanent residents (NPR) has reached 725,000 in the four-quarter rolling average, surpassing the previous record of under 200,000! It is worth noting that the majority of non-permanent residents are renters, which exacerbates the ongoing rental crisis in the country. Furthermore, a comparison between Canada and the United States shows that Canada's population grew at a rate of 3.5% last year, while the USA's population grew at a rate of 0.5%.The City of Vancouver is facing its own financial difficulties that will almost certainly result in significant property tax increases for homeowners. The projected budget shortfall is driven by high inflation, upcoming collective bargaining with employees, and various council initiatives, including plans to hire 100 additional police officers. As a result, homeowners in Vancouver may experience property tax increases of close to 10% annually for the next five years. These increases can have a substantial impact on homeowners' finances and raise concerns about the affordability of living in the city.We also dive into some of the stats for the month of June and Buyers should be somewhat happy to hear that supply has increased to just over 10,000 active units. With that said, we also take a glimpse into the office space sector in Vancouver which has a vacancy rate of near 9% with major REIT’s looking to offload entire buildings.  _________________________________ 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

This week we look at how the Canadian economy is grappling with a series of troubling indicators that raise concerns about a potential recession. Our podcast discussion explores the key factors contributing to the heightened risks, including skyrocketing household debt, surging mortgage payments, escalating rental rates, declining mortgage growth, mounting credit card debt, plummeting housing starts, and weakening sentiment towards real estate. We shed light on the various economic challenges and the potential impact on businesses and employment. Primarily household debt burdens are reaching unprecedented levels. Canadian households are experiencing an alarming rise in debt service ratios, reaching their highest levels since 1990. With Canada ranking third globally in terms of household debt, the diversion of disposable income towards interest costs is hampering consumer spending, which poses a significant risk to the overall economy.Monthly mortgage payments have surged to all-time highs, primarily driven by deep discount fixed-rate mortgages. This increase limits the amount of money available for expenditure on goods and services, potentially triggering a slowdown in economic growth. Rental rates have reached record levels, particularly in cities like Vancouver, making affordable housing increasingly scarce. The limited financial capacity of individuals to afford higher rent negatively impacts their overall disposable income, creating a drag on consumer spending. The growth rate of mortgage debt has been steadily declining, largely due to reduced originations in the first quarter. Stricter lending requirements imposed by regulatory authorities, such as the Office of the Superintendent of Financial Institutions (OSFI), may further hinder borrowing capacity, potentially leading to a shift from homebuyers to renters.While mortgage lending faces tighter regulations, credit card debt continues to surge, hitting record highs. The rise in credit card loans might indicate that consumers are using credit to remain solvent in other areas of their expenses before potential defaults occur, presenting a concerning sign for the economy. The construction industry is witnessing a significant decline in housing starts, marking the sharpest drop since the 2008 financial crisis. This decline is mirrored by a substantial decrease in building permits, which typically precede housing starts, signifying a slowdown in the sector and its potential impact on the broader economy.  Canadian sentiment towards real estate has started to decline, following a period of recovery driven by expectations of a Bank of Canada "pause." However, with uncertainties regarding the future course of central bank policies, sentiment is expected to soften further in the coming months, potentially affecting economic outlook and decision-making.The alarming levels of household debt, soaring mortgage payments, rising rental rates, declining mortgage growth, mounting credit card debt, plummeting housing starts, and weakening sentiment towards real estate all contribute to the economic uncertainties. As businesses and individuals grapple with these challenges, proactive measures and prudent policy decisions will be crucial to mitigate the potential negative effects and ensure the resilience of the Canadian economy. _________________________________ 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

This week we explore the inflation and interest rate factors affecting the United States and how they are impacting us here Vancouver. We take a close look at inflation, interest rates, new mortgage originations, rental rates, and the affordability index - all of which have changed significantly in the last few months. The Federal Reserve (Fed) in the United States decided to hold interest rates for the first time in 15 months, ending a period of significant cumulative hikes. Although inflation in the US dropped to its lowest level in two years, Fed Chairman Jerome Powell suggested that two more rate hikes might occur in 2023 to manage inflationary pressures effectively. The US stock market responded positively to the news, indicating there’s a slight sense of optimism about the economy's prospects.The mortgage market in Canada however is a different story and experienced its weakest growth in two decades during the first quarter of the year, with newly issued mortgages reaching their lowest point since 2003. High interest rates affected homebuyers, causing many to delay their purchases. Furthermore, the percentage of new mortgages in Canada with borrowers spending 25% or more of their gross income on payments increased significantly compared to previous years. The effects of these trends are starting to emerge in Greater Vancouver, where active inventory reached its highest level since November 2022. Sales are expected to be 25% higher than the same period the previous year, while prices remained relatively stable.Rental rates in Vancouver continue to rise due to record-breaking population growth and tight supply. Demand for rental units is so high that bidding wars are becoming common, with prospective renters given limited time to view a property and submit their applications. In fact, it’s become so expensive that the average rent in Vancouver is no $2,649 per month. The Mercer Report, which ranks global cities based on affordability, reveals that Vancouver has dropped eight places to 116th out of 227 cities. This indicates that there are 115 cities worldwide with a higher cost of living than Vancouver - which we found somewhat confusing as it certainly doesn’t feel that way.In conclusion, the episode highlights the potential impact of the Fed's interest rate decisions on the economy, the challenges faced by homebuyers due to high mortgage rates, the increasing rental rates in Vancouver, and the city's relative affordability compared to other global cities. It suggests that the effects of recent economic developments may continue to be felt in the coming months as we aren’t out of the woods just yet. _________________________________ 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 Canadian economy has experienced a significant shift in monetary policy again this week as the Bank of Canada (BOC) raised its policy rate by 0.25% to 4.75% on June 7th. This move marks the largest cumulative interest rate hiking cycle since the 1980s, and there are indications that more rate hikes may be on the horizon. The current interest rates are now the highest they have been in 22 years, dating back to 2001. This week we are exploring the implications of these interest rate hikes, the reasons behind them, and their potential impact on various sectors of the economy.The recent interest rate hike by the BOC was driven by the need to combat high inflation. The first quarter GDP numbers came in higher than expected at 3.1%, surpassing analysts' expectations of 2.5%. The economy is still growing at a faster pace than the BOC would like to see, with consumer spending increasing by 5.7% during the 1st quarter. The surprise interest rate hike aims to curb inflationary pressures and bring the economy back to a more sustainable growth trajectory.But there are Implications for Variable Rate Holders, Renters, and Borrowers. The impact of rising interest rates is felt most acutely by variable rate holders, as their monthly payments increase. Renters also face challenges as higher interest rates can lead to increased rental costs. Businesses with existing debt or those seeking to borrow will experience higher borrowing costs, potentially affecting their investment decisions and expansion plans. Individuals looking to make purchases using credit or secure a mortgage will also face higher borrowing costs.Residential investment has experienced a significant decline as well, with a 15% year-on-year drop and a 20% decrease relative to Q1 2022. This contraction represents the most severe decline since the 1990s. Furthermore, Canada has never witnessed a 10% annual decline in real residential investment without it being associated with a recession. Additional data from CMHC and Equifax highlights that average mortgage payments are outpacing disposable income growth by the widest margin on record. Average home equity line of credit (HELOC) payments have also increased by 50%, further straining consumers' financial capabilities.The Toronto housing market has experienced an increase in listings, rising by 30% month-on-month. However, active inventory remains down by 23% year-on-year and is near its lowest level in a decade. Despite this, home prices in Toronto increased by a substantial 3.1% in May, marking one of the largest increases in the past decade. Calgary's real estate market continues to strengthen, with home sales rising by 7.5% month-on-month in May and reaching a record for that month. Although listings spiked by 30% month-on-month, active inventory is down by 40% year-on-year. Calgary's housing prices have seen a significant increase since 2020, rising from $400k to $540k, hitting a new all-time high HPI price in May.While the current trend suggests a likely recession, it is expected to be a "normal" recession rather than a major financial crisis. The growing unaffordability of housing, increasing HELOC payments, and persistent inflation raise concerns about the ability of the average consumer to sustain spending. WE expect to see a pullback over the summer and into the balance of the year. _________________________________ 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 May 2023 Vancouver Real Estate numbers are in and in this episode I’m going to share the most important data, give my feedback on why I believe prices are doing what they’re doing, and offer my predictions into what you can expect to see happen in the upcoming months. Home sales reached an impressive 3,411 homes sold. This marks a significant 16% increase compared to May 2022, making it the fourth consecutive month of sales growth. Interestingly, May 2023 recorded the highest sales volume in the past 13 months, surpassing even the end of the record-breaking Red Hot run in April 2022 when the overnight rate was at 1%. It's worth noting that January sales were at a mere 1,032, but since then, they have tripled in number. Surprisingly, January sales were even lower than those in April 2020 during the peak of the Covid-19 pandemic. Although May's sales were 1.5% below the 10-year seasonal average, the demand remains strong and homes continue to sell despite historically low inventory levels and a 20-year low in new listings.There were 5,661 new listings in May 2023. While this represents an 11.5% decrease compared to the previous year, it marks the fifth consecutive month of increased new listing amounts. In fact, May 2023 recorded the highest number of new listings in a year. These figures translate to a modest 4.3% decline below the 10-year seasonal average, making it almost a "normal" month for new listings. The intriguing question arises: What factors are now motivating people to list their properties when they didn't do so in March or April?Despite a 12-month high in new listings, the overall inventory only increased by 214 units or 2.5%. This marks the sixth consecutive month with inventory remaining below 9,000 units, signifying a relatively flat trend. Compared to May 2022, the inventory is 22% lower, and it stands 25% below the 10-year average, without even accounting for population growth.The HPI Price saw an $18,000 increase month over month, resulting in a 1.3% rise. The average price now stands at $1,188,000, marking the fourth consecutive month of price increases. Since January, prices have risen by 7%, equivalent to $76,600. However, it's important to note that prices are still 5.6% lower than May 2022. The HPI (House Price Index) indicates a 6.5% decrease from the peak recorded in April 2022, but it is considered a lagging indicator. To gain a more comprehensive understanding of the market, it is recommended to look at the following metrics.Turning to median prices, we see a $10,000 increase to reach $980,000. This marks the fifth consecutive month of price increases and a substantial $110,000 surge since December 2022. Furthermore, it is the highest median price in the past 11 months, with only February, March, and April of 2022 surpassing it. The median price currently stands at a mere 2% below the all-time high.The average price also experienced growth, rising by $14,000 to reach $1,312,000. This marks the fourth consecutive month of price increases, with a $145,000 rise within the last four months alone. The average price remains relatively close to the peak, standing at only 2.5% below it.Wrapping up, it's clear that the Vancouver real estate market remains hot, with all metrics pointing towards continued growth. Stay tuned for the upcoming Bank of Canada announcement on June 7th, where interest rate updates will be provided.  _________________________________ 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

On May 18, the City of Vancouver released an updated Multiplex Proposal aimed at increasing the availability of "the missing middle" housing types, including duplexes, multiplexes, townhomes, and low-rise apartments. The proposal seeks to address the housing shortage and affordability crisis in the city by introducing more diverse housing options. Today we look at the key aspects of the proposal, public opinion, the simplification of RS zoning regulations, the implementation of AI technology for permit processing, and the broader issue of housing in British Columbia.During the last public meeting held in February, the Multiplex Proposal received significant attention, with 455 attendees and 1,900 completed online surveys. The feedback demonstrated substantial support for the proposal, with 77% of respondents agreeing that multiplexes should be allowed in low-density areas. Additionally, 60% agreed to reduce the size of new houses, while 80% supported increasing the size of laneway houses. A majority (74%) also expressed agreement with removing guidelines, regulations, and reducing the number of RS Zones.The proposal outlines the types of housing that can be built under the new regulations based on frontage sizes. For properties with a frontage of 33', a maximum of four units can be constructed, with an approximate area of 4,000 sqft. For properties with a 44' frontage, five units are allowed, with an approximate area of 5,000 sqft. Properties with a frontage of 50' or more can accommodate either six strata units or eight rental units, with a minimum of four units and an approximate area of 6,000 sqft.There's a number of reasons the COV is considering this. Primarily it's to facilitate faster housing construction, increase design choices and flexibility, simplify building regulations, and to create capacity for the 'missing middle' housing type. Currently, there are 9 separate RS Zones! This is definitely adding to the complexity of the permit process. The solution proposed is to standardize requirements and combine all 9 zones into a single RS Zone. Notably, the size of new single-family houses would be reduced while the size of new laneway houses would be increased considerably.Insider information suggests that the city may only accept 100 applications on a first-come, first-served basis as pilot projects. This limitation raises questions regarding the city's capacity to handle an influx of applications and the potential impact on trades and infrastructure. Concerns have also been raised regarding the proposed sizes of the new housing units, with some questioning whether the parameters are too small to meet the growing housing demands. In an effort to expedite the permit process, the City of Kelowna is collaborating with Microsoft in developing an AI chatbot. The chatbot is intended to receive and analyze applications for construction and renovations, ensuring compliance with zoning bylaws, official community plans, lot particulars, dimensions, and setbacks. The long-term vision for the AI system is to assess building applications and issue permits for compliant projects, potentially enabling instantaneous approval for simple applications. _________________________________ 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, we dive deep into the various aspects of the Canadian economy, providing insights and analysis on recent developments. We discuss the unexpected rise in inflation in April, speculate on the Bank of Canada's next move, explore RBC's prediction of a housing market turnaround in spring 2023, analyze the Q1 population growth data, and examine the national housing market trends. We also touch on bond yields, business insolvencies, wage growth, and new home trends. Throughout the episode, we provide valuable insights and discuss the potential implications for individuals navigating the rapidly changing market.Inflation surprised us all as it unexpectedly rose, increasing by 0.1% to 4.4% in April. This marks the first increase since June 2022 and is mainly driven by higher shelter costs, including rents and mortgage interest costs. Dan suggests that the Bank of Canada is chasing its own tail in trying to beat inflation, as the interest cost within the CPI basket has increased by 30% year over year. The previous statements made by the Bank of Canada's Governor about inflation getting under control, now seem questionable again. The expectations of a rate hike in the next six months and the potential for hitting a 3% inflation rate in the coming months are proving less and less likely.We also take our focus to bond yields, which have risen to 3.3% from 2.87% in just two weeks. This increase is expected to push fixed rates up from the mid-4s to the high-4s, while still remaining lower than today's variable rates. The inverted yield curve, with a difference of 100 basis points, is a classic recession indicator that suggests the possibility of a recession, even if it takes until 2024. We also explore the topic of wage growth and we question whether it is necessarily a bad thing for Canadians considering the current cost of living. We reflect on the challenges faced by central bankers in aligning wage growth with the cost of living in a globalized economy. With larger global forces, such as fuel consumption, energy prices, global transport costs, and integrated supply chains are all driving inflation and affecting the average consumer through higher interest rates. We raise important questions about whether the right problem is being addressed and explore the future drivers of inflation, considering recent shifts towards protectionist perspectives and disruptions to the globalized economy.National housing market trends have changed course starting with an 11% jump in sales, the largest month-over-month gain since COVID lockdowns. We note that new listings are at 20-year lows for the fifth consecutive month, resulting in a sales-to-new-listings ratio of 70%, the highest since 2021 and higher than 2016. The shift from a buyer's market to a seller's market and the significant decline in inventory, which has dropped by 6% in just one month continue to compounded pressures in the market. We also explore regional variations, with Ontario experiencing a 10% drop in active listings over four months. This episode is packed with insights that we surely have you scratching your head - especially the net immigration growth projection of nearly 2 million new people coming to Canada! Tune in and catch the full story! _________________________________ 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

This week we are taking a macro look at debt burdens, mortgage insolvency rates, credit card rates and how real estate is performing in other major parts of the country relative to our own. We also touch on, consumer confidence, Toronto real estate, credit tightening, inflation in the US, and some affective new ways to stimulate the housing market coming out of the UK.Let's start by discussing mortgage delinquencies. Mortgage delinquencies are an essential indicator of the health of the housing market and the economy. Currently, mortgage delinquencies remain near a record low of 0.16%, with most not reported until six or more months of arrears. However, this is a lagging indicator, and it is expected that debt servicing ratios will hit record highs in 2024 as more and more renewals occur, leading to less discretionary spending. It is worth noting that one in five existing mortgages has felt the impact of rising interest rates, but the low unemployment rate has helped in Ontario and British Columbia.Moving on to credit card loss rates, we see that this trend is ticking up fast. Before COVID-19, the loss rate was 3.5%, which dropped to 1.5% by January 2022. Since then, it has increased to 3%, indicating that the trend in credit cards leads the trend in mortgage arrears by around six months. Consumer insolvencies are also on the rise, and just saw the highest number of filings since March 2019, basically back to pre-COVID-19 levels. However, consumer proposals, restructuring unsecured credit, such as credit cards and LOCs, are at an all-time high (dating back to 2007). This indicates that there is stress under the surface.Despite these concerns, consumer confidence is on the rise since Q3 2022, currently at 53%, up from 43% lows. Pre-COVID-19, it was 56%, and we are almost back to that level. The same trend can be seen in real estate confidence, currently at 40%, up from 20% at the end of 2022. Pre-COVID-19, it was 45%.This confidence can be seen in Toronto home sales, which jumped 27% in April, the largest rebound since COVID-19 lows. This occurred at a time when listings were down 40% YoY, and active inventory down 21% YoY, the lowest in over a decade. Similar to Greater Vancouver, the GTA inventory has been flat all of 2023, with prices up 2.4% just last month. The GTA Sales to list price is 104%, compounding the issue is that dwellings under construction have declined for three months straight, including a 1.1% drop in March.Even with debt burdens and high interest rates, prices are surging in Toronto and Vancouver. This could threaten further credit tightening from OSFI/BOK, making existing debt burdens even more challenging to meet.The US added 236k new jobs, and services costs (like insurance, restaurants, education, medical care, etc.) are still surging because the labour market can't retain workers and is being forced to pay them more, creating a sticky inflation issue. The Fed in the states has raised interest rates dramatically in the last year by 5 percentage points to the highest it's been in 16 years. As it sits now, interest rates are actually higher than the inflation rate.Where do we go from here? Check out the full episode for more! _________________________________ 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

This week we review the April Stats and without question, the Vancouver real estate market has been experiencing a trend of price acceleration over the past three months, with prices rising for the third month in a row. This is happening at a time when rates are down, which is a surprising development. The market has also seen inventory doing something that has never been seen before, which is particularly significant. In this article, we will take a closer look at the Vancouver real estate market and what to expect next.Total Sales Are Up!In April 2023, there were 2,741 total sales in Vancouver, which is an increase of 8% from March. This is the third consecutive month of increases in sales volume, indicating a trend of growth in the market. However, the total sales volume is still 16.5% lower than it was in April 2022, and 15.6% below the 10-year seasonal average. It is important to note that last month was the highest sales volume in 11 months, dating back to June 2022. Additionally, for the first time in four years, April sales were higher than March sales, which could be a positive sign for the market.New Listings: Some but not enough!There were 4,307 new properties listed in April 2023, which is slightly lower than March by 30 units. This is an unusual development, as the last three years have seen lower listings in April than in March. The number of new listings is also 30% lower than in April 2022 and 22% below the 10-year seasonal average of 5,525. This raises concerns that new listings may have already peaked for the spring market, which could be problematic for the market going forward.Inventory: Critically Levels!The inventory is the most significant story in the Vancouver real estate market. In April 2023, there were 8,231 properties available for sale, which is a decrease from the previous month. This is a rare occurrence, as the only other times in history when inventory has decreased from April was during the 2009 Global Financial Crisis and the April 2020 COVID-19 lockdown. The current landscape is very different from those times, making this development even more notable. Moreover, this marks the fifth consecutive month of flat inventory, all below 9,000. Since December, total inventory has only moved up by 800, which has never happened before. The closest comparison is 2016 and 2017, which were red-hot years in the Vancouver real estate market. The current inventory level is 4.2% lower than it was in April 2022 and 21% below the 10-year seasonal average.Price:In April 2023, the average price of a home in Vancouver was $1,170,700, which is up 2.4% since the previous month. This marks the third consecutive month of price increases, with March seeing an increase of 1.8% and February seeing an increase of 1.1%. Over the past three months, prices have increased by 5.3%, with an increase of $56,400 since January 1, 2023. Tune into this weeks podcast and catch the full story there on our YouTube channel! _________________________________ 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

This week we saw the Bank of Canada release its curated Monetary Report and as it reads (BoC) officials considered the possibility of raising interest rates again on April 12, 2023, according to a summary of the deliberations that led to the latest monetary policy decision. This development suggests that the central bank is leaning more toward rate hikes than cuts as it waits for inflation to fall. The minutes revealed that there are two perspectives within the BoC on whether to raise rates or not. One rationale is that markets continue to price in a probability of a severe economic contraction and a sharp drop in interest rates. The other perspective is that markets expect that policy rates will naturally ease back as inflation softens and supply and demand return to balance. The meeting suggests there was an active debate about restarting the rate-hike campaign!The Canadian economy has proven to be “a little stronger than expected,” and the labour market remains tight, with unemployment near a record low and wages growing quickly. This resilience was one of the arguments in favour of another rate hike, along with the concern central bankers have that inflation may get stuck above the bank’s 2-per-cent target. “While governing council was more confident that inflation in Canada would continue to fall in the coming months to around 3 per cent, the second stage of disinflation all the way back to 2 per cent could prove more difficult,” the summary said.The Canadian real estate market is experiencing a shortage of inventory. In 2015, there were 250,000 listings in Canada, but by 2022 that number had dropped to 100,000. While it rose to 140,000 in January, it has been falling for three months, which is unusual for a time when inventory typically rises. National new listings have been at 20-year lows for four months in a row, not adjusted for population growth. The national sales-to-new listings ratio is the leading indicator for where  prices are going, with prices lagging about six months behind. The ratio is up about 15% in the last six months. The housing starts collapsed 11% in March, the fourth decline in five months, and is now at the second-lowest reading since 2004.The Canadian economy has been performing well in terms of employment with unemployment just above record lows and there are still 900,000 job vacancies!! Canadians are also managing the costs of servicing their debt, with credit card delinquencies rising but still below pre-pandemic levels. Housing prices are expected to pick up momentum over the next 3-6 months, with the national sales to new listings ratio being the leading indicator for where prices are going. The collapse of housing starts in March and the record number of new PRs admitted into Canada are factors that could contribute to the increase in housing prices for 2023. In terms of who's buying, the wealthy appear to be driving the housing market for the time being and we are seeing more and more competition for homes as inventory really becomes the main struggle in Vancouver. The plex plan, should it pass, could result in the largest private sector construction boom in BC's history and as such people should expect building supply prices to increase dramatically, trade costs and availability could shrink compounded with longer permitting time to get projects pushed through the city. _________________________________ 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

Market Update:The latest consumer price index report released by Statistics Canada on Tuesday, April 19th, revealed that inflation in Canada has dropped to 4.3% in March, a decrease from 5.2% in February. Higher mortgage interest costs were offset by lower energy prices,  resulting in the easing of the headline rate. However, the country's annual inflation rate is mostly tracking along the Bank of Canada's forecast of reaching 3% by mid-year. The central bank's preferred measures of core inflation, which are used to look through  volatility in prices, also trended downward in March. The central bank is particularly concerned that getting from 3% to 2% might take a while. According to its latest forecasts, the Bank of Canada is expecting inflation to return to its 2% target by the end  of 2024. While it will take just over a year to go from 8.1% down to 4.3%, the hard part is ahead as it could take another year to get from 3% to 2% inflation. This episode will explore the potential of a soft landing, the impact on homeowners, and the recent increase in Canadian home prices.Potential for an Economic Soft Landing:The decrease in inflation in Canada has brought some relief, but it may not be enough to stabilize prices in the short term. The energy, services, and shelter sectors have all shown a decrease in prices, but this may only result in stabilization before prices begin to come down at the end of the year. The Bank of Canada's concern about “sticky" inflation largely stems from persistently high wage growth and service price inflation, which may cause prices to remain elevated for longer than expected. While the central bank's forecast suggests that inflation will return to its 2% target by the end of 2024, the challenge lies in getting from 3% to 2%, as it may take another year. A potential soft landing in the housing market may be difficult to achieve given the persistent wage growth and service price inflation, but the central bank is taking steps to protect Canadians and ensure that banks provide fair and equitable access to relief measures.Impact on Homeowners:The decrease in inflation has not brought much relief to homeowners with new mortgages or those renewing their mortgages at high interest rates. Mortgage interest costs rose at the fastest pace on record last month, up 26.4% from a year ago. The federal budget  aimed to codify assistance for distressed mortgage borrowers, with new guidelines now proposed by the Financial Consumer Agency of Canada (FCAC). The government is taking steps to protect Canadians and ensure that banks provide fair and equitable access to  relief measures that are appropriate for the circumstances they are facing. This includes extending amortizations, adjusting payment schedules, or authorizing lump-sum payments. Existing mortgage regulations may also allow lenders to provide a temporary mortgage amortization extension, even past 25 years. While this may be seen as government intervention in the housing market, it signals that regulators and policymakers are willing to do everything possible to soften the blow.If you have more questions about what this means for you and your home, reach out to us at anytime to discuss your unique situation. _________________________________ 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 podcast episode, we will be diving into the Homes for People initiative, a government plan aimed at delivering more affordable housing for people. The government has pledged to invest $12 billion over the next ten years in this initiative.The Homes for People initiative aims to deliver more middle-income small-scale multi-unit housing, including townhomes, duplexes, and triplexes through zoning changes and proactive partnerships. The initiative also offers forgivable loans to homeowners to build and rent secondary suites below market rates to increase affordable rental supply quickly.One of the biggest criticisms of the initiative is how to determine below-market rates. It is a challenging task to ensure that landlords charge affordable rent to tenants without negatively impacting their profits. The government will need to develop a robust mechanism to calculate these below-market rates to prevent exploitation and maintain a balance between landlord and tenant rights.The government has also introduced a flipping tax to discourage short-term speculation. The tax aims to curb the rapid buying and selling of properties for profit. However, there is skepticism about how effective this tax will be in practice. The government's past achievements in delivering affordable housing have also been questioned, with concerns over the effectiveness of similar policies in the past.The Secondary Suite Renovation Incentive is another element of the Homes for People initiative. It aims to encourage homeowners to build secondary suites in their homes to increase the affordable rental supply. Homeowners can receive a grant of up to $20,000 to renovate their properties and build secondary suites. This incentive has received mixed reactions, with some questioning whether $20,000 is enough to cover the costs of building a secondary suite.The Housing Supply Act is another government policy aimed at delivering more affordable housing. The Act will allow municipalities to expedite housing developments by streamlining the approval process. This policy has been welcomed by developers, who hope to take advantage of the streamlined process to deliver affordable housing quickly.Overall, the Homes for People initiative is an ambitious plan aimed at delivering more affordable housing for people. However, there are valid concerns over how the government will determine below-market rates and the effectiveness of the flipping tax. The Secondary Suite Renovation Incentive and Housing Supply Act have also received mixed reactions from the public. The unique housing market may also cause concerns for individuals wondering whether to sell or buy property.To navigate the housing market successfully, individuals should seek guidance from experts and research thoroughly before making any decisions. The government needs to develop a robust mechanism to determine below-market rates to prevent exploitation and maintain a balance between landlord and tenant rights. If implemented effectively, the Homes for People initiative has the potential to address the ongoing affordable housing crisis and improve the quality of life for many individuals. _________________________________ 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, we discuss the recent trend of increasing home prices in Vancouver, which have risen for a second consecutive month. We examine the various metrics that indicate the current state of the housing market in the city is getting hotter and hotter with all property types (single family homes, townhouses and condos all now firmly in a seller's market. However, we also acknowledge that this situation is somewhat artificially inflated due to the lack of available inventory. New listings remain low and total inventory sits below 9,000 units for 4 months in a row now - there were only 3 other times in recent history where this has happened and all of those markets were in strong bull markets. Is this where we are headed next?Despite the high prices, multiple offer scenarios are once again becoming commonplace, and new listings are remaining at a low point not seen in decades. We provide an in-depth analysis of these trends, exploring the reasons behind them and what they mean for both buyers and sellers in the Vancouver housing market. If pressure continues to mount and job numbers continue to outperform expectations, we recognize the Bank of Canada will begin to find itself caught between price stability and the inflation flight. The next interest rate announcement will be an interesting one.Furthermore, prices median prices are up $20,000 for the month which equates to $80,000 over the last 3 months putting us only 5% off of peak numbers we saw in 2022. Even more astonishing is the average price of homes is up over $102,000 in the last 2 months putting us at May 2022 numbers with days on market coming down quite quickly.Finally, we offer some insights into what can be expected in the upcoming month of April. Based on our analysis of the available data, we provide our predictions for how the market will evolve in the near future, and what this means for anyone looking to buy or sell a home in Vancouver. So whether you're a seasoned real estate professional or simply interested in the state of the housing market, be sure to tune in to this informative and insightful episode. _________________________________ 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

This weeks podcast explores the financial implications of the recent Federal GDP Numbers and the complications they create for the Bank of Canada. Furthermore we explore the revived buzzword “Extend and Pretend” in reference to the Banks extending amortization periods for mortgage holders. Historically it involved banks extending loans to borrowers who were struggling to repay their debts, but instead of recognizing the loans as non-performing or defaulting, the banks would "pretend" that the loans were performing by extending the payment terms. Essentially, the banks would grant borrowers temporary reprieve by extending their loan terms, often by several years, while still counting the loans as performing on their books. This practice allows the banks to avoid recognizing losses on their balance sheets and maintain the appearance of financial health. In the context of mortgage lending, "extend and pretend" can refer to a bank's decision to extend the amortization period of a loan in order to reduce the borrower's monthly payments. This can provide temporary relief to borrowers who are struggling to make their payments, but it also increases the overall cost of the loan due to the additional interest that accrues over the longer repayment period.  We talk about how to best deal with this scenario so that you  can come out without relatively unscathed when it comes time to renew your property.We also look at the recent federal budget and the government’s infinite wisdom in when it comes to spending more than we earn, pushing the federal deficit to -$40.1 billion, nearly $10 billion more than what has been forecasted in the 6 months prior.The country's overall debt is set to rise to $1.31 trillion over the next five years, and with continued high interest rates, the federal government is projected to pay $43.9 billion next year just servicing Canada's debt. We also consider the Fed’s decision to backtrack on their decision to ban Foreign Buyers. Stay tuned to hear about the changes to that policy, a quick market update where we discuss the return of multiple offers, how the Median price of Single Family homes is up a staggering $132,000 this month and sales volumes are up 40%! _________________________________ 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 inflation dropped more than expected this month and came down to 5.2% from 5.9% the previous month. This was the first year-over-year drop as inflation registered at 5.7% last February. The 0.7% drop was the largest since April 2020. However, year-over-year base effects still make this an almost 11% growth over the last year. For example, groceries still lead the pack in growth, up 10.6% year-over-year, driven by supply chain issues and bad weather. The energy sector was a significant contributor to the drop in inflation but what was very significant about this print was that mortgage interest costs are showing up as an ugly component of the CPI basket, and that metric is surging. 0.7% of the 5.2% is from this! Meaning the Fed is creating the very same inflation they're trying to fight. March of 2022 inflation was at 6.7%, so base effects should see next month's inflation print continue to drop at a similar pace to last month's, placing it around the mid to high -4s should the trend continue.This trend will impact mortgage rates eventually. The 5-year Canadian bond is now sitting at 2.79% and trending lower since bonds corrected downwards. If 5-year Canadian bonds stay low, mortgage rates in Canada are likely to follow suite as well. This is because mortgage rates are influenced by long-term interest rates, and 5-year bonds are one of the benchmarks for long-term rates in Canada. The last time bond rates were at 2.8% was back in 2010 when fixed mortgage rates were 5.4% and variable rates were 2.2%. While mortgage rates don't always move in lockstep with the central banks, expect to see variable and fixed rates continue to fall if we continue in this direction.Did you hear population grew by over 1 million people last year in Canada? This is certainly an interesting development for Canada, as a population growth of over 1 million in a single year is very significant. It's worth noting that Canada has long been a destination for immigrants, and it seems that international migration is the primary driver behind this recent population growth. It will be interesting to see how this trend continues in the coming years and what impact it has on various aspects of Canadian society, such as the economy, healthcare, and infrastructure. This marks the first 12-month period in Canada's history where population grew by over 1 million people, and the highest annual population growth rate (+2.7%) on record since that seen for 1957 (+3.3%). The previous record population growth rate in 1957 was related to the high number of births during the post-war baby boom and the high number immigration of refugees following the Hungarian Revolution of 1956 - however this did not break the 1 million mark. The reason behind Canada's record-high population growth is definitely different, since international migration accounted for nearly all growth recorded in 2022 (96%).How will the government deal with this? According to CMHC Canada needs to build 3.5M additional homes (over and above current projections) by 2030 in order for housing to be affordable again  (500k per year!)  Our government's solution is the Housing Accelerator Fund. According to the National Housing Strategy this will be implemented in June 2023. A full two years since they were elected on that promise. _________________________________ 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

Qualifying for multiple mortgages can be a complex and challenging process. It requires a thorough understanding of the mortgage industry, as well as the financial requirements needed to secure more than one mortgage. For individuals who are interested in purchasing multiple properties or refinancing existing ones, seeking the help of a mortgage professional is essential.A mortgage professional who specializes in this area can provide valuable guidance and expertise throughout the process. They can assess your financial situation, review your credit history, and determine the best approach to securing multiple mortgages. Additionally, they can help you navigate the application process and ensure that you are meeting all the necessary requirements.There are several factors that can impact your ability to qualify for multiple mortgages. For instance, lenders will take into account your debt-to-income ratio, credit score, and other financial obligations when evaluating your application. In some cases, you may need to provide additional documentation or evidence of income to demonstrate your ability to make multiple mortgage payments.Another key consideration is the type of property you are interested in purchasing. Different lenders may have different requirements for investment properties, second homes, or vacation homes. It is important to work with a mortgage professional who understands these nuances and can help you identify the best options for your needs.When considering multiple mortgages, it is also important to carefully evaluate the potential risks and benefits. While owning multiple properties can provide additional income and investment opportunities, it also comes with added expenses and responsibilities. You will need to consider the ongoing costs of maintaining and managing multiple properties, as well as the potential risks of market fluctuations or changes in interest rates.Ultimately, qualifying for multiple mortgages requires careful planning and a strategic approach. By working with a mortgage professional who specializes in this area, you can gain valuable insights and guidance to help you make informed decisions and achieve your financial goals. Whether you are a seasoned real estate investor or a first-time homebuyer, a mortgage professional can provide the support and expertise you need to navigate this complex process with confidence.Mychal FerreiraBMO Mortgage Specialist778.994.3222mychal.ferreira@bmo.cominstagram.com/mychalmortgages---  _________________________________ 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 collapse of SVB, the 15th largest regional bank in the US, sent shockwaves through the financial industry in March 2023. The bank announced on Wednesday that it was attempting to raise $2.25 billion and complete a $21 billion asset sale to overcome the difficult situation it found itself in after rates accelerated by 450 basis points over nine months. However, by Thursday afternoon, reports emerged that there was a $42 billion bank run on deposits, leading to the bank's negative balance of $958 million and a 60% drop in the stock price by the end of the day.The collapse of SVB highlighted several key issues in the financial industry, including what feels like the age of institutional negligence creating a conversation around the re-emergence of personal responsibility, and that there should be major consequences for actions that are taken by people in these positions. For instance, the CEO of SVB sold $3.5 million worth of personal shares one week before the collapse, and in the last two years, there were nearly $84 million worth of insider share sales.One of the significant impacts of the collapse of SVB was the sharp fall in bond yields. The 5-year government bond fell from 3.57% to 2.89% in just three days! The largest drop in 27 years - more than the pandemic and the 08’ GFC causing markets to price in two rate cuts instead of one rate increase by summer. The collapse of SVB had significant implications for the financial industry and the economy, and it highlighted the importance of taking personal responsibility for one's financial well-being and keeping  the majority of savings in hard assets that produce consistent cash flow.The collapse of SVB is not an isolated incident in the financial industry. According to the FDIC, between 2001 and 2023, the US experienced 562 bank failures, which is an average of one every two weeks. This indicates a lack of accountability and responsibility in the financial industry, and it raises concerns about the stability and security of the banking system. By contrast, Canada has not experienced any bank failures with assets over $1 billion. This is a testament to the country's stable banking system and regulations that prioritize accountability and responsibility. The absence of bank failures in Canada is noteworthy and provides an example for other countries to follow in establishing stable and secure financial systems.The issue of bailouts is not limited to the financial industry. The COVID-19 pandemic has also led to a significant increase in government bailouts for homeowners and businesses. For instance, the B.C. government provided a $479 million bailout to TransLink to help the transit system deal with the impact of the pandemic. The funding kept fares stable for transit users and avoided service cuts.The collapse of SVB also had implications for the housing market in Canada. Canadian home prices fell $130,000 since their peak, and the housing market recorded the fewest number of new listings for the month of February since 2003, with a 20-year low on a national basis. National home sales hit their lowest levels for the month of February since 2009, and house prices have fallen $130,000 on average from peak to trough. Check out the conversation in this weeks podcast and get the local numbers for Vancouver. _________________________________ 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

Applying for a mortgage can be a daunting task, and it becomes even more complex when you run an incorporated business. As opposed to an individual, the income earned by a corporation is treated differently by lenders. If you are self-employed and have incorporated your business, you may find it challenging to obtain a mortgage as many traditional lenders are not familiar with this structure. Therefore, it's essential to work with a mortgage specialist who understands this structure and can help you navigate the process.Mychal Ferreira, a mortgage specialist at the Bank of Montreal, specializes in this style of mortgage where the gross income goes into the company, and the individual pays themselves personally through dividends. This structure helps minimize personal taxation, which is a significant benefit for self-employed individuals.In the past, most banks did not consider incorporation income when it comes to qualifying individuals for a mortgage. This created a barrier for many self-employed individuals who were unable to secure financing for their homes. However, things are changing, and more lenders are recognizing the value of incorporation income, especially for professionals who earn a commission-based income such as doctors, dentists, and realtors.Mychal Ferreira's expertise comes in handy as he walks clients through the process and teaches them how banks look at professionals in this situation. He helps them understand how they can position themselves for success when it comes to qualifying for a mortgage. Mychal's approach is to look at each client's unique situation and tailor the mortgage to their needs. He understands that each client's financial situation is different, and a one-size-fits-all approach will not work.Working with a mortgage specialist like Mychal is crucial as they can help you understand the intricacies of the mortgage process. They can help you navigate through the paperwork and explain the jargon used in the industry. Additionally, a specialist can help you access lenders who are more familiar with incorporation income and are more likely to offer you a mortgage.In conclusion, if you are self-employed and have incorporated your business, obtaining a mortgage can be a challenging process. However, with the help of a mortgage specialist like Mychal Ferreira, the process can be more manageable. Mychal's expertise and experience in working with self-employed individuals can help you obtain a mortgage that fits your unique situation. Remember, it's important to work with a specialist who understands your financial situation and can help you navigate the process successfully.Mychal FerreiraBMO Mortgage Specialist778.994.3222mychal.ferreira@bmo.cominstagram.com/mychalmortgages _________________________________ 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 news across the nation this week was that the Bank of Canada came through on it’s word and held interest rates at 4.5%. This is the first time in a year that the Bank of Canada took it’s foot off the break and gave all variable rate mortgage holders a sigh of relief. As interest rates begin to stabilize and the bank of Canada moves to the sidelines, it’ll be interesting to see how the market responds. Typically this time of the year we have a lot more listings but with current inventory levels and really low levels, we’re already seeing the return of multiple offers for property that is priced to market. February saw prices rise for the first time month over month and with median prices already up another $22,000 this month, and up $82,000 in the last 9 weeks alone!! We are starting to see signs that the market is becoming much more active. Higher levels of activity will lead to higher levels of consumer confidence which we believe will continue to build throughout the year. Toronto for example saw an 8.5% increase in month over month sales - the highest in 6 months and what’s very important to note is that 40% of those sales last month were ABOVE the asking price! This is largely due to a lack of inventory and Vancouver was similar showing 20% of its deals selling over the asking price. All of this pointing to a 2nd month in a row of a sellers market.  We’ve had a number of sellers on the sidelines waiting to hear about this announcement. Many are now going to be listing this month as the data points to a much stronger sale price than over the last few months. If you’re considering listing your property and want to know if the market is trending in your favour, just reach out to the contact info below.  _________________________________ 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

We are extremely excited to have interviewed the creator of eXp Realty and on this episode we hear about how the home buying and selling experience is evolving and how the first ever digital brokerage is shaping the future of real estate.  A bit about Glenn:Glenn Sanford is the founder eXp Realty, CEO of eXp World Holdings, Inc. and Chief Strategy Officer for VirBELA. After being involved with a number of internet start-ups in the 1990s and early 2000s, including a stint at AOL, Glenn started a highly successful real estate career in 2002. In 2006, his fourth full year in the business, Glenn and his team closed over $60,000,000 in real estate almost entirely from online lead generation and was ranked as one of the top 50 teams nationally with Keller Williams. After the downturn in 2008, he and his team developed the first cloud-based brokerage model that uses a 3D avatar based online office to collaborate and communicate while abandoning the physical bricks and mortar infrastructure normally associated with real estate brokerage. In the last 11 years, since launching with 25 agents, eXp Realty has grown to over 87,000 agents across 24 countries.  eXp Realty refers to itself as Agent-owned and the company became a public company in 2013 and in 2014 started to distribute equity to its productive agent owners. eXp Realty provided the first ESOP style Stock Ownership Program for its agents and brokers as well as a revenue sharing program all designed to enhance the agent-centric business model.EXP is the fastest growing brokerage in history and has grown by over 11,000 agents in just the last 12 months alone.     The company saw revenues of $4.6 Billion in 2022, and was one of the few brokerages to post a significant profit in the downturn year.  eXp’s market value has exceeded $3.6 Billion and, as the largest shareholder, Glenn is one of the tech worlds most recent Billionaires.  In this episode we talk with Glenn about home buyer and seller behaviours and trends that he’s seeing from tracking sales from around the world.     With eXp entering its 15th year, Glenn Sanford discusses the exciting evolution of the brokerage and outlines some of the massive acquisitions they’ve made recently, and how these are focused on increasing agent abilities to dominate in any marketplace. Glenn talks about the role of artificial intelligence in Real Estate and if there’s place for it to completely remove the need for human interaction within a real estate transaction. As with any business model that achieves this level of success, the competition has noticed and the copy-cat brokerages are starting to appear.  Glenn offers his position on the competition, and what he see’s as the future for tradition brokerages.  This was a real eye opening and inspiring conversation with a true visionary and someone who has completely altered the course of Real Estate on a Global level. We hope you enjoy it too.To learn more about eXp, visit : https://expworldholdings.com _________________________________ 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

One of the biggest concerns that home buyers have when they're considering purchasing a new home is how much money they need to have on hand. It can be a daunting task to figure out how much money you'll need, especially if you're a first-time homebuyer.In this episode, we explore all of the home buyer options when it comes to this very important question. For instance, many people may be surprised to learn that they can buy a home with as little as a 5% down payment. However, if you do decide to go this route, you'll also be required to obtain Mortgage Insurance. But how much does that cost, and can it be added to the monthly mortgage payment?Additionally, many people wonder how much money they need to put down to avoid mortgage insurance altogether. This is also addressed in the episode, along with the question of how much insurance is required if you put down a 12% down payment instead. And why is the insurance even necessary in the first place? All of these questions are answered in the episode, and you may be surprised at some of the responses.It's also very important to know where these funds can come from. Did you know that you could utilize your RRSPs to buy your first home? It's true, and this is discussed in the episode as well, along with how long you have to pay that money back.Another important topic covered in the episode is the question of whether it makes more sense to save up for a larger down payment or to invest in a home now while prices are appreciating. This is a tough question that many potential homebuyers struggle with, and the episode offers some valuable insights.Overall, first-time homebuyers will definitely benefit from this episode. With all of the information presented, you'll be better equipped to make an informed decision about how much money you need to have on hand when buying your new home.For anyone looking to connect with Mychal, please reach out to him below:Mychal FerreiraBMO Mortgage Specialist778.994.3222mychal.ferreira@bmo.cominstagram.com/mychalmortgages _________________________________ 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

Vancouver home prices increased in February for 1st time in 9 months. Does this mean we’ve hit the bottom and headed back up? Slow down - not yet! One month does not make a trend but it does help further reinforce that our stagnant levels of inventory are causing all kinds of pain for Buyers - this plus the combination of higher rates is setting us up for could be an interesting spring market. We are already hearing stories of and taking part in multiple offer situations at different price points and asset classes all over the lower mainland. In this episode we get into why that’s happening and we review the stats for the month of February. Furthermore we get into the new BC Budget and the new municipal property tax hike of 10.7% in Vancouver and the impacts that will have to the housing sector going forward. We also suss out our own assumptions about whether the market has hit bottom, and where you can expect prices to go in the coming months. This is a very important episode especially for those who have been watching the market on the sidelines waiting for your opportunity. _________________________________ 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

How to access the equity in your home:This week we explore how to access the equity that exists in your home with Mortgage Specialist Mychal Ferrera. It's something that exists for many people who own property and learning how to unlock and use this to your advantage could be the difference in creating serious wealth. For example, did you know that you can access up to 80% of the equity in your home and reuse that equity to invest in another property? Let’s say you have a $1 million dollar home with a 500k mortgage, you would have access up to $300,000 of equity that can be used for future investment. We also explore an alternative financing options that very few know about called Homeowner Redline. This product allows you to borrow up to 80% of your home’s value which you can split between a mortgage and a line of credit. So, as you pay off the mortgage portion, the principal you repay increases the limit available on the line of credit portion that you can use for a home renovation! Lastly, we also explore how a conventional HELOC works (Home Equity Line of Credit) in comparison to these other options.Mychal FerreiraBMO Mortgage Specialist778.994.3222mychal.ferreira@bmo.cominstagram.com/mychalmortgages _________________________________ 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 roller coaster ride that is now the Canadian 5 year bond jumped another 50 bps in just the last 2 weeks with bond yields above 3.6% for the first time since early November! Why does this matter? It’s the best indicator we have for what’s going to happen with fixed mortgage rates which had briefly come down to into the mid to high 4% range but now back into the mid 5% range and higher.This jump in the 5 year bond was kicked off by the January jobs report which added 10 times the expected amount with the government expecting 15,000 new jobs but instead reported adding 150,000 jobs. Furthermore, this is the second month in a row where economists were off by a factor of 10!  In this weeks episode of The Vancouver Life Real Estate Podcast, we go through what this likely means for the rate hike in March, how this will affect our already very low inventory and what it could spell for inflation. Furthermore, we take a dive into Canadian Real Estate broadly speaking as national home prices continued to soften down 1.9% in January. However, are we seeing the same thing here in Vancouver? What about the stories of multiple offers? With sales just scraping by, are activity levels artificially low? Tune in and check out where we think the Vancouver Real Estate market is headed next!If you’re wondering whether it makes sense to Buy or Sell in this environment, each case is different - so just reach out below and let’s chat about it. _________________________________ 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

Did you know that you can pre-qualify for a mortgage on a pre sale condo?   You can, and up to 3 years in advance.     There are a number of very compelling reasons why this is a good idea too.   Firstly, you can lock in at today's rate, meaning that if rates increase, you benefit from the previously lower rate.    And should rates go down, you can qualify at those lower rates now too.Secondly, and possibly most importantly, the Bank Of Montreal will appraise your pre sale property at TODAYS valuation and should that move up or down by the time of completion, you can actually get money BACK on your purchase.Find out how, and a few more pro tips, in the episode all about Pre Sale property financing with Mychal Ferreira. Mychal FerreiraBMO Mortgage Specialist778.994.3222mychal.ferreira@bmo.cominstagram.com/mychalmortgages _________________________________ 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

There’s an information battle going on with what we’re reading in the news compared to what we're actually seeing take place on the ground. There appears to be two very different stories emerging. With recent news articles from the financial post, stating that economists at Oxford Economics believe we are only halfway through the housing price correction - quote: “Prices are already down 14% since the peak in February - and will fall another 16% by the middle of this year. When home prices hit bottom, they will correct by 30%”.  What’s more, they even address a worse case scenario which would see housing prices collapse by a total of 48% from peak to trough putting us back to 2014 levels! Despite admitting that it is a very rare possibility, we just don’t see the same narrative taking place.Furthermore and in the same week, Stats Can released a consensus report showcasing how 50% of Vancouver homeowners do not have a mortgage - meaning these interest rate hikes are not affecting principle residences like many Buyers thought and hoped. The report is very interesting as it really helps Buyer’s understand why we haven’t experienced any kind of panic selling in the lower mainland. Interestingly the report found that 43% of home owners in Toronto are also mortgage free - however with more condo supply coming to the market, will this hold true? For Vancouver the story appears to contradict the Oxford Economics report because without a surge in supply, the price for homes will only shift down moderately if interest rates persist.This weeks podcast we address these two topics and interview Merete Lewis, a high performing and award winning Real Estate agent working in the GTA to give us her perspective on these two issues and whether Toronto, Canada’s biggest real estate market, is seeing a similar story to what we’re seeing here in Vancouver. Check out the episode and hear the first hand stories of properties selling multiple offers in both regions, line ups of Buyers and what feels like an early spring buzz.  Where do you think the market will go 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

This week we jump into a great conversation with Ryan Andrews of PCL Construction’s Infrastructure Manager for the BC Region along with serial entrepreneur, real estate investor and co-owner of the Penticton Speedway, Mr Ingo Seibert. The purpose of this weeks episode is to gain an understanding of what billion dollar corporations are seeing, why they believe in the region and why they are continuing to help the province build the necessary infrastructure for what will be a major increase in population and density. Furthermore, we contrast that from the perspective of smaller entrepreneurs, what they have been up against since the pandemic and how they are making plays not only here in Vancouver but also in the interior. Who is PCL and why do they matter? PCL is a leading construction company in Canada, with a strong presence in the Vancouver area. Over the years, PCL has been involved in several major infrastructure projects in Vancouver, contributing to the development and growth of the city. They have a unique perspective on the needs of a growing city and have a unique understanding of where future investment is going.One of the most notable projects that PCL has worked on in Vancouver is the Canada Line. The Canada Line is a rapid transit line that connects downtown Vancouver to Richmond and the Vancouver International Airport. The line was built in partnership with the  government of British Columbia and TransLink, the regional transportation authority. PCL was responsible for the construction of the elevated guideway, stations, and systems for the line. The Canada Line has been a great success, providing fast, reliable, and convenient transportation for the people of Vancouver and the surrounding areas.  For more on PCL, see: https://www.pcl.com/ca/enWhat is the Penticton Speedway? It is a motorsports facility located in Penticton, British Columbia, Canada. The track is a half-mile oval, and it is one of the most popular destinations for racing enthusiasts in the region. The facility features a variety of racing events, including stock car racing, sprint car racing, and midget car racing.Throughout the racing season, the Penticton Speedway hosts a variety of events, from local amateur races to professional events that attract top drivers from across North America. The facility also offers a number of amenities for fans, including grandstand seating, food and beverage vendors, and a souvenir shop. The track also offers a number of opportunities for fans to get involved, including pit tours, driver meet-and-greets, and other interactive experiences. For more information visit: https://www.pentictonspeedway.com _________________________________ 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

Well the numbers are in and January is already the first of twelve chapters already done for 2023. January was a very slow month not only just in volume of sales but also in terms of overall inventory. With only just over 1,000 sales this month, sales volume numbers were dismal at best and represented a 55% drop from the same time last year. Important to recognize though that this time last year was nearly the peak of the market before we saw the introduction of interest rate hikes. Even so, last months sales were 43% below the 10 year average. With 173% more listings added to the marketplace in January, you would think there would be climbing inventory but only just as there were also many properties that were pulled from the market keeping total inventory below 7,500 units. For reference the region had more than 20,000 listings in the GFC where consumer sentiment echoed the same as it does now and such low inventory is providing a price floor for many Sellers. And with the Sales to Active ratio officially cruising in a balanced market, we are likely seeing a time where selling conditions favour Buyers.We also explore how HPI prices are beginning flatten out with prices only dropping 0.3% last month. With many indicators pointing to price stabilization and private banks cutting fixed rates as they get more aggressive for what could be an interesting spring market. On the flip side, markets tend to take the path of most pain and with such strong job numbers coming out of the US, it could create a bit of a problem in their efforts to keep inflation in check. Time will tell. _________________________________ 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

This week was all about macro economics as we looked at how the BoC raised rates again by 0.25% and we also assess the forward guidance provided by Tiff Macklem. Can we expect to see the BoC hold rates at the next announcement? Have they done enough to curb inflation? We also evaluate their credibility considering the last year, and will they achieve their inflation target given the respective timeframes? We have also recognized that Mortgage Rates at some of the major institutions across North America have already begun cutting their rates, especially insured rates, as the volume of sales continues its decline in the housing sector. With that being said, there are local rumours of stale listings all of sudden going into multiple offers and it appears to be true as Buyers who decided to stay out of the market throughout 2022 are frustrated with the lack of inventory and very little panic selling - at least to date - and have decided to pursue what’s currently available.Lastly we take a dive into housing starts, Canadian housing inventory levels, the cost of rent in major metros along with a local Vancouver market recap. Spoiler alert, the volume of sales is extraordinarily low, inventory levels are at critically low levels and yet prices continue to persist having only fallen off by $40,000 on average since June 22'. _________________________________ 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

It’s becoming more and more clear that the Bank of Canada is nearing the top of its current rate hike cycle as the latest inflation print showed real signs of slowing, down 0.5% to 6.3%, a welcome reprieve considering the last 9 months. However that likely won’t change the outcome of next week’s rate hike which will almost certainly come in at 0.25% -  a number largely baked into today’s economy. We also take a look at some of the major headlines reported this week in real estate, including comments from the Deputy Head Economist of CMHC who feels "We've seen quite a large price decline but there's such a shortage of new construction of new houses in Canada that this inexorable rise in demand is just going to continue in the future," Iorwerth said. - "Don't know exactly when it's going to kick in again, but the shortage in supply means the prices can't go down too much further."Even the Canadian Real Estate Association has predicted prices will fall another 6% from their peak in 2022 and level out throughout 2023. They were even so bold as to predicted sales volume will increase by 10.2% in 2024; however if the last two years has taught us anything, it’s that predicting two years into the future with any degree of accuracy is a very difficult thing to do, especially considering the geo-political environment the world finds itself in. Any abrupt changes to our supply chains, to energy, fuel, and labour supply could pose a serious threat to the rebound from which our economy recovers 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

This week was a good week in real estate, and the financial markets reflected a similar sentiment as US inflation data printed lower at 6.5% - down from its previous mark of 7.1%. This was the largest drop since July 2022, and was mostly led by lower fuel prices. This trend continues its 6th month decline as Inflation is now back to Oct 2021 levels; however core inflation remains sticky as it increased by 0.3%, totalling 5.7%.In this week's podcast episode, we uncover how consumers really feel about their finances as result of the recent rate hike cycle and how that is affecting home buying decisions.We look at recent debt surveys which indicate 1 in 4 mortgage holders say they’ll be forced to sell if rates increase much further. What does this mean for the real estate market in the coming months? Will there be a flood of listings or will the bank pivot sooner than later? _________________________________ 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 stats are in for the last month of 2022 and while we know activity is low - we didn’t know it would be one of the lowest activity months ever recorded. Without a doubt Buyers and Sellers are digging in their respective heels to get what they want in this transitioning marketplace. Buyer’s are making the case for lower prices through tougher affordability and Sellers are still attached to the market that was here at the start of 2022. The divide between what Buyers are prepared to pay versus what Sellers are prepared to sell for is wide and it’ll take some time before we see more movement. That movement will come from the BoC shifting it’s position on it’s interest rate hike forecast along with compelling data that inflation is coming down - but alas, we aren’t there yet and it’ll likely be some months before we see higher levels of activity. With that said, there were a mere 1,206 new listings in the month of December and we sold nearly 1,300 homes. With inventory continuing to fall, it is artificially maintaining the market prices as Buyers struggle to find the quality they are looking for in the available inventory. Where do we go from here? The Bank of Canada will almost certainly be raising interest rates again this month - likely a quarter to half a point and this will depend largely on the inflation data we receive on January 12th. From there it’ll be a function of supply versus demand but with very few people listing, there won’t be much competition from other Sellers and many Buyers have parked their interest on the sideline until there’s better inventory quality. If you have a home in good shape and priced to market, it could be a surprising opportunity to sell now versus in the coming months when more listings will come to market. _________________________________ 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

It’s customary here at The Vancouver Life  Real Estate Group, that at the end of every year we make predictions about how our Real Estate market will pan out in the year to come. This week we cover what we believe could be the major economic drivers and potential economic landmines for the real estate industry in 2023. Plus, we make our price predictions about where the value of real estate will go throughout the GVRD in 2023.Getting specific, we take a look at condos, townhouses and single family homes and the respective forces that will affect their performance in the coming year. Will Townhouses outperform Single Family Homes next year? If so, in what market? Are we going to see further softening in the suburbs? What about downtown? We also take a look at the top 5 neighbourhoods that we think will outperform the average price growth in the GVRD. Predictions are made with respect to where the Bank of Canada will take interest rates by the end of 2023 and we discuss where inflation could end the year!This episode is packed full of predictions, so tune in this week and get our insights on the year to come! _________________________________ 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

What a crazy year! Nothing tells the story of 2022 better than comparing the predictions we made at the start of this year with how they actually turned out. While we nailed a few predictions, we also had some significant misses as we review the year.Historically, this episode is always a lot of fun but especially this time around as no one saw the extreme change in headwinds coming like the Bank of Canada did.  Yes, we even reviewed their promise to keep rates low until 2023 and how long they let inflation run before acting. While we felt interest rates would be a part of the story, no one could have predicted how quickly they rose. We take a swing at inflation numbers, price predictions, lockdown probabilities and much more on this entertaining episode. Next week we make a whole batch of new predictions for 2023. _________________________________ 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

2023 is going to be full of change in the Real Estate industry as we have two major introductions that will change the landscape. With the introduction of the Foreign Buyer Ban and the Cooling Off Period, it remains to be seen if these measures will help alleviate the pain felt by Buyers in a hot market. There’s only one problem - there isn’t a hot market to test these on and with the amount redundancy's that have been written into the new policy’s we feel it’ll create more pain and confusion than anything else. The Foreign Buyer Ban is a very controversial policy as the Government intends to exclude all foreigners for a period of 2 years from buying any real estate in Canada. And yet in the same breath the Government has increased our immigration targets by substantial margins to replace the aging workforce and declining birthrate in Canada (hello rental wars - just when you thought rent was expensive enough). Last week we discussed that by 2032, most of Canada’s labor force will be foreign workers, and yet the very people who we need to work inside of our economy, who pay Canadian taxes, will not be allowed to buy Canadian Real Estate. Xenophobia is alive and well in Canadian politics. With all these changes coming compounded by a slowing marketplace there will be more hurt with further interest rate hikes expected in the new year. With that being said, it’s likely we will see these rate hikes slow to some degree and hopefully lessen in their size. However, there will be a number of opportunities that will come out of all of these changes and if you listen until the end of today’s episode, you’ll see exactly what some of these look like and when you could expect to see them. _________________________________ 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

This weeks podcast has us exploring the new rate hike thanks to the BoC’s continued quantitative easing. While it’s been difficult for many seeing rates up 400 basis points in 9 months - that’s an eye watering 1,600% since the start of the rate hike cycle - and it has all but erased the credibility of the Bank of Canada who waited until inflation was at 6.7% before acting and indicated rates would be low until 2023. We explore the new debt levels faced by Canadians who have a whopping debt to GDP ratio of 117% or $75,000 per capita. These are the kinds of debt levels that will take a generation to pay off. As we look for solutions the only apparent saviour is immigration. Immigration has exploded this year as we hit 700,000 new immigrants in 2022 and 23% Canada’s population (or 8.3 million people) were either permanent residents or immigrants before becoming citizens. Furthermore, immigrants now account for most of Canada’s labour force and by 2032 most of Canada’s increasing population base will be entirely new immigrants. As we close out 2022 and look towards more aggressive immigration targets in the years ahead, places like Quebec are reducing the amount of new immigrants (they will only take 10% as they intend to preserve their French Canadian heritage). This will eventually put more and more housing pressure on other metro’s like Toronto & Vancouver in the years to come.Comparison as they say is the thief of joy - unless you’re a Vancouverite comparing the housing market to our fellow Torontonians. Inventory levels are up 160% in some Toronto suburbs and while 2021 saw 12,000 pre-sale units sell, 2022 will end the year with about 3,000 pre-sales sold!! That's a jaw dropping fall off in sales volume. Furthermore prices have fallen beyond 20% in Toronto while Vancouver sits around 12-13% and inventory remains incredibly tight. For two major metros that often move in unison, we are starting to see the divergence of the marketplaces with Vancouver showing off its resilience in a difficult market. _________________________________ 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 Bank of Canada is set to raise rates, yet again, next week further impacting the already heavily stressed mortgage market.  Effective payments to pay for a typical home have doubled in the past 2 years and variable rate holders are feeling the pinch. We dive into what will happen next and when you can expect rates to start coming down. November stats are in and we look at the National level and at the local level whereby we look at inventory levels, sales volumes and what is happening to prices in Vancouver. Despite all of the recent action from the BoC and consumer confidence below that of the global financial crisis - how is it that prices have remained very consistent for the last 5 consecutive months?From there we take a broad look at national prices and inventory levels to see how they measure up to our local marketplace. Interestingly, we take a dive into the Bank of Canada’s first recorded loss in its 87 year history and how they’ve painted themselves into a corner that’s getting harder and harder to get out of. We review what was said and forecasted versus the actual outcome and what it means for markets going forward.This week is a loaded episode with some great macro and micro level data that you surely don’t want to miss. With a rate hike coming next week here in Canada, we take a stab at what that rate hike looks like and how it will affect the market as we head into 2023. _________________________________ 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

This week we hopped on the Pod with Vancouver Life Team Member & Whistler Specialist Auley Serfas to explore what it’s like living and working in one of the most sought after resort towns in the world. With properties ranging $300,000 up to $30+ million dollars, Whistler has proven to be one of the most interesting and dynamic real estate markets that we have seen.Before Auley became a Realtor, she spent more than 20 years as a Property Assessor with BC Assessment Authority and was responsible for creating thousands of valuations for many different property types. In the conversation we discuss the relevancy of BC Assessments, how they are used and how they are often applied to real estate transactions. Furthermore, we explore what is currently taking place in the local Whistler market, what is happening at different price points and how important it is to know the distinction between Phase 1 and Phase 2 investment properties. With the introduction of the new Foreign Buyers Ban coming into affect in 2023 you’ll want to know how that may or may not affect Whistler - especially if you’ve been considering a permanent move or vacation property investment.    _________________________________ 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

Inflation was the name of the game in this weeks update and while inflation numbers remained unchanged from the month before, sitting around 6.9% - that did beat expectations as they were predicted to rise. As of last months report, Canada now has the second lowest inflation rate of any G7 nation! However, seeing that inflation pressures didn’t ease last month, it paves the way for another rate hike come December 7th with most analysts predicting somewhere between a 0.25% rise to a 0.50% basis point rate hike. The good news is that comments out of the BoC are also indicating that we are nearing the end of the recent rate hike cycle. This weeks Podcast episode references the Bank of Montreal’s chief economist, Doug Porter and his economic outlook for Q1 2023. We look at the current state of Canada’s GDP along with BC’s GDP and what direction that will take in the new year. We also have an average inflation rate prediction from BMO for 2023 which was a little surprising but none the less fairly good news. Looking across the nation, we check in with several major metros from West Coast to East Coast to see what the Housing Price Index is for the average home in those respective cities along with how far prices have deviated throughout Covid from their long term pricing trend. This was very useful in descending just how out of whack pricing got in some regions. _________________________________ 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

Quantitative tightening is still very much at the forefront of monetary policy as we saw mortgage rates on the rise again this week. With variable rates now above 5 year fixed rates for the first time since 2019, sitting on average around 5.5%! Fixed rates for comparison sake are sitting at 5.1%.This week we explore what's happening nationally and how Vancouver stacks up against other major metros. For context and as we look across the nation, this is the most rapid rise in interest rates in the last 30 years combined with the lowest level of sales in over 20 years.. and yet, single family homes across the GTA for example are only at 2.3 months of inventory. Balanced marketplaces typically like to see upwards of 5 months of inventory.Check out this week's episode as we take a look across the nation and how a lack of inventory is still the major theme. Surprising growth numbers continue to come out of Alberta and financial markets rose this week on the news that inflation printed lower than expected.  _________________________________ 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

If you live anywhere else in Canada, it’s pretty clear in today’s market that without demand, the supply of homes will rise creating a decline in sales volume and that effectively helps to lower prices along with very low consumer confidence. With credit having been restricted through quantitative tightening at the most aggressive pace in recent history - affordability has reached heights we've never seen before and everyone is feeling the squeeze.  Toronto saw new home sales fall 96% last month - just 45 new homes sold in October, and only 250 new condos - in a region where 6 million people live this isn’t good news for the market. So why is it that in Vancouver, under the same set of financial conditions, hasn’t experienced the rise in inventory needed to bring prices down? In this episode we discuss the unique case of Vancouver’s inventory, why it performs so much stronger than the rest of the market and how existing re-sale inventory will be a formidable problem for the market to tackle in the years to come. Is it any surprise that new home builders are getting hurt the most? With new layoffs announced in both Canada and the US, it’s a sealer sign there’s more pain to come. And let’s not forget we need these very same people to help solve our housing crisis by building more inventory. They are now paying interest on their inventory they can no longer afford to pay. As this problem persists, expect to see these properties begin to sell as Builders are forced to bring their prices down to reduce their debt load in the short run. But at the same time, Developers will freeze projects or push them out until prices are restored and the environment improves. Looking at the longer term metrics, it’s without a doubt that it will - Canada recently announced it is gearing up its ultra aggressive immigration policy. With more than 500,000 new Immigrants per year by 2025 - and the majority of those people will be technically skilled individuals immigrating to Canada to add to the workforce. As these people accumulate and new home builders freeze out the inventory and existing inventory not coming to market because home owners have locked in ultra low rates, we are poised for another housing boom on the other side. However in the short run, Buyers who can capitalize on this softening trend will thank themselves in the years to come. #vancouverrealestate #vancouverrealtor #vancouverrealestateagent  _________________________________ 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

This week we got the opportunity to meet the head honcho launching eXp’s commercial division in Canada, Mr. James Huang, President of eXp Commercial. Breaking into that market will be transformative for those both looking to buy, invest, or sell commercial real estate with the exciting tech suites and professional teams available to service you. Moreover, if you’re a business owner or a professional yourself, you will love this weeks podcast as Dan and I got to learn the incredible 20 year professional story that James has lived. From leaving med school in University, to working on Wall Street as a portfolio manager, to then getting into commercial real estate and establishing a boutique company in L.A. some years later with over 184 brokers working for him! Now he sits as the President of eXp Commercial; it’s a fascinating story with great insight into the commercial landscape and some great insights into what it takes to make a successful company culture. For More Information:https://expcommercial.com/https://www.linkedin.com/in/james-huang-3772839/ _________________________________ 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

Another 50 basis point jump was on the table today as the BoC continued down the path of hiking rates at an unprecedented rate. For some context, variable rate mortgage holders were getting rates as low as 1.29% in January and on a $1mil mortgage, payments averaged about $3,350 a month. Fast forward to today’s rate hike and that same mortgage is now up over $5,700 or an increase of 71% in just 8 months. In even simpler terms, in January you could have expected to pay $40,000 a year for a home at prevailing rates - that same mortgage today going to cost $28,000 a year more or $68,000 - for those on fixed income, this is becoming harder and harder to manage.The BoC also expects GDP growth to half from 3.25% down to 1.5% in a short period of time grinding economic activity to a stall before easing and allowing GDP to return to 2%. That’s their plan - whether that’s actually how it plays out remains to be seen. The BoC has made many projections over the last 2.5 years and none of them have really been accurate so take what they say with a grain of salt. Given that inflation appears to be pervasive throughout the general economy with businesses still reporting a very tight labour market, inflation will likely stay elevated for some time as energy consumption throughout the winter time continues to rise. The cost of goods and services will likely stay elevated into the winter months as demand destruction is the name of the game. With that said, our guest Mychal Ferrera with BMO is reporting more pre-approvals for mortgages than he’s seen in a long time as more and more Buyers pile up on the sidelines waiting to strike - and with such limited inventory - it’s anyone’s guess as to when Vancouverites will begin to put their properties back on the market - however, it looks as though inventory will remain low for the foreseeable future as economic activity continues to slow down.Contact Mychal Ferreirahttps://www.linkedin.com/in/mychalferreirahttps://www.instagram.com/mychalferreira/ _________________________________ 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

What a week for BC's Provincial and Municipal governments as both David Eby and Mayor elect Ken Sim are set to take over. With a huge push to change up the status quo of housing in the province and specifically in Vancouver, many local residents have spoken that they want, in fact they are demanding change with Ken Sim winning by a landslide. In this weeks Podcast episode we take a look at the housing platforms that both the New Mayor of Vancouver and the Premiere of BC intend to introduce. While we aren’t convinced by any politician's promises, we are interested to see specifically what Ken Sim will bring to the table, His new policy around the time it takes to get a permit for renovations, new single family permits and multifamily permit construction will be of the upmost importance and could have a significant effect on housing if implemented effectively.. Seeing as David Eby was already the housing minister for the Province - we are a little disappointed that some of the items he’s tabling haven’t been dealt with to date.. we’ll let you be the judge of that.We also break down where we think interest rates are headed not only for next week but also by the end of the year. We question why the media outlets are asking everyone to pay attention to CORE Inflation, a measuring stick that removes the most volatile commodities from the CPI Index but those very same commodities - food and energy - are the ones we use the most and are daily expenses we all encounter - so why aren’t we measuring their impact on Inflation? Understanding why that matters and so much more can be found on this weeks podcast.  _________________________________ 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

Inflation continues to be a pesky foe that won’t go quietly into the night. This week we take a look at the North American market and how the inflation story has moved away from its transitory narrative as local demand within the economy has yet to cool off to a point that no longer concerns central banks. The war in Europe continues to put price pressure on a volatile energy market while simultaneously the manufacturing and shipping industry from China continues to come back online it’s becoming more and more clear that North American Central Banks left policy rates too low for too long as inflation proves to be sticker than initially thought.With that being said both Sellers and Buyers in the Real Estate Market no longer the prices that either of them have to face and Sellers are pulling their listings from the market as they can no longer achieve the sales prices from earlier in the year. Buyers remain largely on the sidelines as well as both sides wait each other out to see how the story unfolds over the next 8 to 16 months. With inflation hanging around, it’s almost certain at this point that fixed rates will be in the 6% range and variable rates could increase by 50-75 basis points on October 26th.The good news is that Canada continues to smash its immigration numbers achieving 700,000 new permanent residents year over year and 280,000 in the last quarter alone. BC was the beneficiary of 120,000 new permanent residents in the last year at the end of this last quarter. Without a doubt housing continues to look strong in the long run, but expect more pressure in the rental markets as Buyers look to safer havens until interest rates begin to flatten out. _________________________________ 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

Making sense of what is happening inside our current Real Estate market is tough in today’s environment. Sweeping comments in conversation or news articles that suggest “The Market” isn’t doing well or that “Housing is Down” is no longer an accurate way of describing the housing sector - at least not in Vancouver. Take this little stat as an example: Vancouver currently has less inventory than it did this time last year; inventory actually dropped by 3% compared to September 2021 and is the third straight month of inventory declines in the GVRD. By comparison, Ontario’s inventory count is up by a whopping 89%.In this week’s podcast episode, we review the bizarre case that is Vancouver Real Estate and how it measures up to its historical performance in down markets. While HPI prices are generally down across the board by about 9.5% and the median price of a home is down by 12%, we’ve seen that slow dramatically. Prices have only adjusted down by 2% over the last 3 months showing signs of an early stabilization or at the very least less downward pressure than we initially saw some months ago. However, this is where the head scratching begins as the average price of a home in Vancouver actually rose by about $44,000 last month! Sounds like some good old supply and demand economics at play again. Unfortunately, the same can’t be said for the Fraser Valley where median prices have fallen by 25% or an average price loss of (-$455,000). North Vancouver is down significantly by a similar amount (-$470,000 albeit in a more expensive market) and West Van detached is down on average by (-$627,000) per home. It’s definitely no surprise that we are down -46% in sales volume year over year - largely driven by the cost of borrowing and unstable prices but like we’ve seen in the past, Vancouver is a resilient market and if you’re thinking of buying a home in the foreseeable future here - take advantage of this time because if inventory continues to remain this low and the economy begins to correct - we know what kind of a market we’ll be heading into.  _________________________________ Contact Us To Book Your Private Consultation:Dan Wurtele, PREC, REIA604.809.0834dan@thevancouverlife.comRyan Dash PREC778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com _________________________________ 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

Housing unaffordability is truly the worst it's ever been. In this weeks episode we explore how home ownership cost (as a percentage of median household income) hit 60% this year, an all-time high. Considering the price of inflation, the cost of increasing interest rates and relatively stagnant wage growth by comparison, the cost of living has risen significantly.The affordability Gap in Canada - the difference between what a home costs and what a person can afford to pay for a home has widened by 67%!Following this bearish trend, the DOW had its worst month since the lockdown, in March 2020 and this was the worst quarter for the S&P 500 since 2009Canadian Household debt to disposable income continues to climb, hitting a new all-time highs in August. It's now at 182%! And by comparison, our friends down south in the USA are at 100% respectively.A recession could still largely be avoided if the bank of Canada pivots in due course but inflation data suggests that won't happen - it's still too high which ironically increases the odds of a recession with every interest rate hike from here. Sounds bad, and while it is - there's hope as some important metrics are beginning to show signs of stabilization here in BC and Canada continues its very aggressive immigration policy adding well over 280,000 new permanent residents in Q2 alone. _________________________________ Contact Us To Book Your Private Consultation:Dan Wurtele, PREC, REIA604.809.0834dan@thevancouverlife.comRyan Dash PREC778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com _________________________________ 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 the inflation print in Canada coming in lower than expected, there was some good news that the over sized rate hikes we’ve all been through over the last 6 months appear to be working. While this was largely driven by lower gas and commodity prices, things like food continued to inflate in price. It will take a significant amount of time before food prices begin to fall as it’s the one commodity everyone must continue to spend money on, not to mention the global constraints on grain and other products from war torn countries. Car sales in the month of August hit a 23 year low as Canadians begin to reign in their discretionary spending. In many ways, the summer presents the most expensive time for fuel, food and recreational activities as many families took advantage of the first pandemic free summer in 2 years. As we move into fall and subsequently into the winter, expect more and more families to batten down the hatches on their discretionary spending as interest rates continue to climb. This will hopefully accelerate the outcome we are all hoping for.So what does this mean for housing? Buyers, if you’ve been holding off the time for you to start seriously considering a purchase is coming into play over the next 6-8 months. With every other headline reading a looming recession is coming next, the time to strategically position yourself is here. While to BoC continues to suggest they will avoid a recession (they’ve been wrong before), just about every other bank in Canada has stated otherwise. Furthermore the World Bank has also come out saying the possibility of a global recession in 2023 continues to grow as many of the developed nations with centralized banks began oversized rate hikes at nearly the same time. This level of global financial synchronicity has never been seen before and it will be interesting to see how it plays out. _________________________________ Contact Us To Book Your Private Consultation:Dan Wurtele, PREC, REIA604.809.0834dan@thevancouverlife.comRyan Dash PREC778.898.0089 ryan@thevancouverlife.com www.thevancouverlife.com _________________________________ 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 print hitting 8.3% in the U.S. shedding only 0.2% from it’s previous print is showing consumers continued to spend through the Summer (which was widely expected). The continued strength of the U.S. dollar continues to push the price of domestic products further reinforcing the inflationary cycle. The news was so impactful that the stock market had its worst day in over 2 years. We discuss why we feel the BoC isn’t done raising rates and how its dual edge sword brings down prices while also restricting purchasing power and increasing the monthly cost of a mortgage by drastic amounts. It's largely expected that the Feds down south will raise their interest rates by 0.75% matching Canada’s overnight rate of 3.25%. It’s very possible we will see 4%+ interest rates by Q1 of 2023.Check out the tale of two stories as inventory climbs in Toronto and yet somehow here in Vancouver, inventory has shrunk as September is on pace to be the lowest sale month of any September on record. With median prices in Vancouver having fallen by about 14% and down a further 23% in Toronto, the housing price declines continue to slide.  _________________________________ 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 BC government came out this week and capped rental increases by 2% - Renters say that’s too much! And Landlords are incredibly frustrated as inflationary costs have inflated their cost of ownership by much more than 2%. Historically, the government has increased rates in unison with inflation, but this time around they have suggested a lift of that magnitude would only hurt the Renters. However, the housing providers, folks who have a rental suites that helps offset the cost of their rising mortgages and property taxes are left holding the bag.. often times renting their suites out at a loss. The long term affects of rental caps have historically proven to be more negative than positive. There’s a consequential butterfly effect to these decisions and ultimately kicks the problems further down the road, creating a divisive point of contention between tenants and landlords. This is a result of not having enough housing stock, compounded by the time it takes to create homes in Vancouver - yet Landlords are having to pay the price. Vancouver has a massive housing supply issue and the largest provider of rental housing are investors and local property owners. While the government needs new rental stock they are handcuffing themselves and the providers they need so desperately for their stock. And with inflation being a bigger issue than rent control, expect housing providers to turn to services like Air BnB to make up the shortfall. Landlords will entertain more short term fixed tenancies so they can deal with inflationary pressures.Ultimately, Developers building market rentals for the city will back off from these building types and move to more capital friendly markets where rents are not controlled further restricting the supply of market rental housing. Alberta by comparison has 85% of the population that BC has and they have zero rent control - they also don’t have a rental crisis. The move makes very little financial sense and puts unnecessary pressures on providers to come up with their own solutions. www.thevancouverlife.com _________________________________ 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

Mychal Ferreira, Mortgage Specialist from BMO,  joins us today on this special podcast where we discuss the impacts of the new 0.75% rate hike. With average mortgages in Vancouver being substantially higher than the rest of the country, Vancouverites can expect their variable rate mortgage payments to increase by another $350-$700 dollars per month - s staggering $4,000 to $8,000 increase in payments each year. Will this be enough pressure to force Sellers to reduce the prices of their homes on the market? Will it be enough pressure to erode disposable income so the economy slows down? Perhaps to some degree, but with recent GDP data showing the economy still running strong and over 1 million job vacancies, the idea of major sell off or panic selling is not something we are expecting.With another oversized rate hike announced today, it’s pretty clear that the Bank of Canada does not yet have inflation under control and are continuing down the path of demand destruction and active wealth erosion. With the benchmark rate now hovering at 3.25% - a mere 0.25% away from the BoC’s target rate and inflation proving to be less transitory than first believed, a future recession and further rate hikes is almost all but guaranteed at this point. Remember, it typically takes a full 18 months before we see the results of a single rate hike - let alone the 4 oversized rate hikes we’ve seen in the last 6 months.Historically, and over the last 30 years almost every time the BoC has risen rates by more than 1.5% we’ve seen a correction back down between 1.5% - 4.5%. So while rates continue their roller-coaster ride up, if history has anything to say about it, it’s highly probable that within a similar time frame we will see the BoC reverse course. If you’re a Buyer expecting to pick up a property from a grovelling Seller, they will be few and far between as many Sellers dig their heels in to combat raising rates while they wait for demand to return. And it will - with an aggressive immigration policy and inventory in Vancouver lower than it was this time last year, it’s clear we have a supply issue mounting and an outcome we’ve seen before when rates begin to fall.Mychal Ferreira can be reached at:https://www.linkedin.com/in/mychalferreira/ _________________________________ 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 the Fall market on our doorstep, it’s time to review how the summer market performed and what’s in store for September and October. While we have just come out of a couple of the slowest months in 20 odd years, you would think the market is at a stand still. But with prices having dropped by more than 30% in some areas across the nation, Vancouver remains one of the most resilient marketplaces in North America with prices having only slid by about 7% according to the Housing Price Index. While we are expecting to see this number continue to drop by about another 2% in the foreseeable future, what’s less clear is the bubbling activity behind it. Sales to Active Ratios (think of this number as the pressure gauge for the market) are on the climb across ALL property types and most noticeably in townhomes (rising by 5% month over month). The average ratio across all property types climbed 1.1% month over month putting the market back on the precipice of a sellers market and revealing that we still have a housing crisis on our doorstep. The underlying issues that created the housing crisis we’ve seen over the last decade will continue to persist even with an imminent rate hike that we’ll see in September. With both local, national and international pressures applying themselves to the Vancouver market, expect to see more sustained pressure in the fall months as consumer confidence begins to recover. With anecdotal stories of our Agents going into multiple offers in the last few weeks, chronically low inventory and new listings reducing in numbers… where do the Buyers and the overheated rental market go from here as the search for shelter continues. Stay tuned for the SPECIAL RELEASE coming Sept 7th right after the BoC announcement. www.thevancouverlife.com _________________________________ 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 weeks’ episode we explore where the CORE inflation is sitting and why we feel the result spells an almost certain .05% - 0.75% interest rate hike increase on September 7th. While it’s debatable what the BoC will do, what isn’t debatable is the huge drop in real estate prices we have seen in the last few months as a result of rising interest rates levels and inflationary pressures. Canadian home prices have fallen a staggering 9.9% nationally since the peak of the market in late Feb 2022. This is the steepest decline in recorded history, even surpassing the Global Financial Crisis of 2008 when prices dropped 9.1%. Toronto is without a doubt taking the brunt of it with prices down a concerning 13.2% and inventory up nearly 60%. Vancouver by comparison has only seen a correction of about 4.5% with much tighter inventory levels - in real terms, Vancouver’s inventory is actually down from this time last year, it hasn’t increased. While Inventory has generally climbed across the nation, we are sitting at only 3.4 months of inventory whereas the long term average is closer to 5 months.Immigration numbers are at all time highs and while housing starts are as well, they are far out from completing and continue to provide little relief in the face of an intense rental market. With more than 230,000 permanent residents having already arrived in the first 6 months of the year, expect Canadian immigration to continue to drive growth in the long term. With over 1 million job vacancies and skilled labour making up 56% of the available jobs, it’s no wonder Canada remains one of the best options for skilled immigrants around the world.www.thevancouverlife.com _________________________________ 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 government has long said it wants to create affordable housing for its citizens and has historically pushed developers and the communities they govern to design or ownership alternatives for it to approve. Those include co-op housing, leasehold land, income verified property and many other forms of “affordable ownership”. To be real, these do nothing but stigmatize property, they don’t allot the same rights and privilege as those with a fee simple interest but rather dilute ownership under the guise of affordability. The government has never suggested that it lower its own development or building related permit fees - a cost that gets indirectly passed onto the consumer with each project that gets built. A new report by CMHC has concluded that the government is responsible for at least 24% of the average home cost BEFORE you consider property transfer tax or GST. Add those government fees to the equation and it rises to 33%! That’s right, 33% of the cost of your new home is thanks to government fees. In Vancouver that translates to $180,000 in fees and taxes of a typical new condo. This is significantly more than any other party involved in the transaction. Without a doubt there needs to be some consideration for government fees as none of the work is free and development rules and guidelines need to be adhered to - but how did it become a third of the cost of an average condo in Vancouver? Today we explore the information, the hypocrisy and some solutions that could help reduce the cost to the community. www.thevancouverlife.com _________________________________ 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

 This week we tackle the new inflation print from our friends down south (US) and we take a macro look at the Real Estate Market across the country. As inflationary pressures begin to ease, we ask the question - Are we starting to see signs of relief or is this a bear trap that will lead to further downward pressures?The US Federal Reserve and Jerome Powell have been quoted as saying that they will not change the course of the current tightening of monetary policy until there’s compelling evidence that we are headed back to their target policy rate of 2-3%. While a massive rate hike may be off the table come September, we still think there will be a sizeable interest rate hike - perhaps multiple - as we head towards the end of the year. We also cover the current state of the Real Estate Market in majors centres like Toronto which has seen an HPI (Housing Price Index) drop of 13%. A huge swing considering it’s a lagging price indicator. What’s worse, we are hearing stories of some markets in Ontario seeing price corrections as high as 48%! While inventory still remains tight in Vancouver, up just 5% - Toronto has a seen a whopping 58% increase in inventory. A recession is still very much a possibility with some asking the question if it’s already here. Another major concern we discuss is that the Yield Curve on the Canadian 10 year Government Bond has fallen 50 basis points which now puts it below the 2 year yield. Analysts typically refer to an inverted yield curve as a strong indicator of a coming recession. With the BoC still targeting a policy interest rate of 3.5% (currently sitting at 2.5%) it’s possible we’ll see a recession before the end of inflation. www.thevancouverlife.com _________________________________ 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 biggest take away from the July real estate numbers is the 43% decline in sales volume. This comes in a full 35% below the 10 year average, which more dramatically demonstrates the current landscape.   Equally as notable, new listings dropped 25% last month contributing substantially to the decrease in total inventory.    That number dropped for the first time in 6 months and speaks to the market ‘freeze’ that we’re in right now.   Both buyers and sellers are on the sidelines watching with bated breath. The result of these numbers is that the GVRD has entered a Balanced Market for the first time in almost 3 years, furthermore, detached homes are actually in a Buyers Market.   Rejoice?   Well - not so quick.   The recent interest hikes have pushed buying power down 25% when looked at from a monthly payment perspective.  Meaning prices would have to drop 25% from the peak to have an equal mortgage payment as it was before the rate hikes took place this year. So where are prices?   Well the HPI suggests a 4.7% decline from the March peak, whereas the Median and Average are closer to 11%.    Not nearly the 25% some buyers are hoping for.Looking forward, we can expect August numbers to look quite similar, with prices dipping further.   It will take until September to see volumes pick up, though those will be dampened with the expected 0.5% interest rate hike by the Bank of Canada on September 7th.   Rates will fluctuate, they always have.   So think of it this way, you marry your house, but you date your rate.  So make sure you love your home, and know that the only constant is change. www.thevancouverlife.com _________________________________ 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 we take a look at what our economy is doing from a National perspective. Some of the key take aways here include signs that we are seeing inflationary pressures beginning to ease, Bond Yields are continuing to come down and housing starts are beginning to increase again while we deal with sky rocketing rental increases. Home sales in the month of June and no doubt in the month of July are down by a serious margin (-33% in BC and -36% in Ontario) and continue to stall out the market. While prices are coming down, it appears as though inventory is holding strong and hasn’t risen with only 3.1 months of inventory on the market. With strong national unemployment at 4.9% and record levels of immigration (over 400k) the fundamentals still look strong. Locally speaking, we have entered into a Balanced market which is something we haven’t seen since January 2020! The median home price is also holding strong at 900k - although we suspect that will continue to fall as the Fed’s continue to raise rates throughout the rest of the year. BC is down 33% in home sales year over year and while BC’s inventory climbed +21% - the GVRD’s inventory remains largely unchanged. It’s crazy to think that just a year ago, households were paying just 2.5% average interest rates across ALL outstanding debt....credit cards, auto loans, mortgages, HELOCs....all of it but with higher interest on credit cards, rising levels of insolvencies (still low but rising), negative wage growth, falling prices and more expensive mortgages - Consumer confidence in Canada’s housing sector has fallen off the map. If you bought a house today with prevailing rates, you are paying 55% more in payments for the same home than you would have just 10 months ago.Activity levels across major real estate offices is down on average by 15% and climbing - this is mostly because of the rising costs of borrowing and the continued cooling of home sales across the country. With the re-sale property market accounting for nearly 10% of our country's GDP, it’s all but certain that a recession for part of 2023 is on our doorstep with the Central Banks attempt to control inflation.  www.thevancouverlife.com _________________________________ 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

Travis Darke from IG Wealth Management sat with us this week to discuss where he is seeing the smart money being invested during these uncertain times.      We look at which type of investments benefit from a rising interest rate environment and how a long term focus is till the most prudent strategy. _________________________________ 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

Wednesday's 100 basis point hike to the overnight interest rate brings the total increases this year to 2.25%.   This will understandably have a profound impact on housing prices.     The monthly payments to purchase the same home in January compared to today are up $1,100, or 52%.   The rising rates have already seen around a 20% decline in prices in the GTA, and here in Vancouver, around 11%.The full effects of the recent rate hike have yet to be felt.   Plus, current indications are that rates will be raised to 3.75% by year end, adding another 1.25% before the Bank of Canada levels off.    The word Recession has become predominant recently, though the robust job market is doing its best to hold it at bay.  June produced the lowest employment rate in recorded history, coming in under 5% for the first time ever.  There is no question property prices are going to go lower in Vancouver - current estimates point to 15% HPI.  With the cost of borrowing up, this isn't making homes more affordable, as monthly payments for the lower price home are as high as the higher priced home with lower rates.      Cash buyers are the real winners here.www.thevancouverlife.com _________________________________ 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 Bank of Canada surprised everyone this morning raising interest rates a full 100 basis points - the largest single increase in 24 years.   We’ve now seen rates increase by  2.25% in just 5 months, radically transforming the lending landscape and housing.Buying power is down over 20% and mortgage payments compared to January of this year are upwards of 50% higher.  Understandably, this is going to drastically affect house prices.   Already down 13% from the February high, you can expect prices to drop further - likely to the tune of 20% or more.Mychal Ferreira, the number 1 mortgage specialist for the Bank of Montreal in Canada, joins us on this episode to discuss how the recent rate hikes affect those with existing mortgages, those about to renew and for people thinking about buying a home. Buckle up, things are changing fast.Contact Mychal Ferreirahttps://www.linkedin.com/in/mychalferreirahttps://www.instagram.com/mychalferreira/ _________________________________ 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

Home sales dropped 35% from this time last year in the Vancouver area,  and a full 43% in the Fraser Valley.   Toronto saw a similar decrease at 41%.    This is the third consecutive month of declines where the sales sit at 23% below the 10 year average.       The landscape is now vastly different than it was 3 months ago when buyers lined up to compete for the same home.  Now, homes are sitting, prices are dropping, properties can be negotiated, and yet, buyers aren't interested.   Of course the rising rates have been the largest contributing factor, but oddly, all the cries for more homes and less competition have been heard, and the buyers are gone.  Perhaps sidelined is a better term.     With rates rising at the fastest rate in history, with the Bank of Canada increasing further next week, there is a feeling of 'shell shock' in the industry.   Buyers have pulled back to see where things will settle.  On top of this, many people have seen a tremendous amount of wealth eroded in the stock market.    Lastly, we're about to enter the typically slower summer months where minds shift away from real estate and more towards enjoying the weather.In this episode we look into the June numbers, share predictions on where prices are going next, and discuss recent Mortgage Rate Drops,  yes DROPS, that are already taking place in the States.www.thevancouverlife.com  _________________________________ 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

February 2022 has proven to be the most recent peak of property prices in Vancouver, which have since dropped 10%.  (That is in reference to the Median & Average prices - the HPI, a lagging indictor, will follow in the upcoming months.)   The majority of this drop happened last month, to the tune of around 5%.Inventory though was a surprise in June, after increasing by 14% in April and 10% in May, it only increased by 2.5% in June.   Plus, we're now going into what looks to be a fairly typical summer where activity levels will be low - and new listings few and far between.     This could keep the sales ratio just at or above the sellers market position for the next couple months.But will anyone buy?   And will prices keep going down?     Global wealth is being eroded, at the estimated amount of $13 Trillion year to date, and this is definitely being felt in Vancouver as well.    Plus, we are less than 2 weeks away from another rate hike, further diminishing buying power.   There will be more pain in the system before things turn around. So what's next?   More inflation?  A recession?  Stagflation?   Right now it could go any one of those routes - and yet, here comes more money printing.    Have we really not learned our lesson yet? www.thevancouverlife.com  _________________________________ 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

Inflation hit a 40 year high this week reaching 7.7%, with food and fuel driving the gains. Mortgage rates continue their northern ascent with fixed rates at or above 5%, and variable expected to rise to the realm of 4.5%. Mortgage payments on your typical Canadian home are up $1,000 per month, or 60% in just 9 months. Yet the Bank of Canada is set to raise rates at the July 13th announcement with 90% of Economists predicting a 0.75% increase. This will affect housing deeply with prices and sales already falling fast.National homes sales are down 25% from last year and HPI prices ticked down for the second month in a row - not seen since 2019.Meanwhile, job vacancies in Canada surpassed 1,000,000 - and Permanent Residencies were handed out to 64% more people than last year to date.CMHC stated that 5.8 million homes are needed by 2030 just to start bringing prices down, while the actual is predicted to be closer to 1.5 million - meanwhile the Canadian Government is looking to put 3.6 million new people into the country over the same timeframe.So while the focus is all on inflation right now, when the cycle turns back up, the housing shortage issue will be there ready and waiting.www.thevancouverlife.com _________________________________ 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

Vince Taylor is our guest on this episode and he brings with him an immense amount of knowledge, and experience, in the real estate market.  Having seen 5 major market cycles in his life, and as someone who bought his first Vancouver home for $67,000, Vince provides an almost contradictory outlook on the market then what you will hear on the news.  He gives his opinion on how prices will fall, and when and by how much they will rise after, he shares the key fundamentals that point to his predictions and shares where the true opportunities are in this type of market.  For more information on Vince Taylor, President of Pilothouse Projects, please visit: https://pilothouseprojects.com/----  www.thevancouverlife.com _________________________________ 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

Inflation hit a 40 year high in America this week, reaching 8.6%.    The ramifications of this were instantly felt with the stock markets dropping sharply.  Canada's next CPI announcement will almost certainly print higher when they announce on June 22nd.    Should there be an increase, a 0.50% increase at the July 13th seems like a lock, with rumours already spreading that the BoC may go with 0.75%.   This puts the overnight rate between 2% to 2.25% up from 0.25% earlier this year.    Understandably housing is being impacted - sales are down 34% in 3 months in Toronto, and Vancouvers median price is down 10% from the February peak.   With inflation still rising, but housing dropping fast, how much further can rates rise before things really break?www.thevancouverlife.com _________________________________ 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 effects of the interest rate hikes are being felt as home prices dropped 5% in May.    This was prior to the June 1st hike of an additional 0.5% that will further add downward pressure on prices as purchasing power has been eroded to the tune of 15%.   Inventory surpassed 10,000 for the first time in 10 months and detached homes entered into a Balanced Market for the first time in 2 years.    We did into the May numbers and let you know what to expect in the upcoming months, plus we give our insights into how much we expect prices to fall for the remainder of 2022. www.thevancouverlife.com  _________________________________ 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 Bank of Canada just announced their 3rd rate hike of 2022, and third in a row, raising the overnight rate to 1.5%.   This equals 1.25% in hikes in just 4 months, rapidly changing the landscape - and peoples borrowing power and payments.   The most recent time rates increased was during 2017 to 2018 where it took a whole year to increase by 1.25%.    Understandably, people are on edge wondering what's going to happen to their mortgage and other debt payments, buying power and the real estate market in general.Our special guest Mychal Ferreira from the Bank of Montreal sheds some light into what you should be doing, what a Trigger Rate is and if it might affect you and how many more hikes you can expect this year.www.thevancouverlife.commychal.ferreira@bmo.com _________________________________ 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

Inflation hit a 30 year high in Canada this month, and looks to continue that trend in the upcoming months.    This further galvanizes the Bank of Canadas expected 50 basis point rate hike on June 1st, with more hikes anticipated, until, we enter a recession.  You could argue the main indicators of a recession are already in place, being high interest rates, low consumer confidence, and stagnant wages or reduced real income in the labor market. The rising interest rates are already making housing affordability even harder.  The home price and mortgage rate increases over the last 6 months alone have made the average mortgage payment increase by $800.      The last time it rose by that amount it took 6 years. The early ramifications of the rapidly accelerating cost of living can already be seen.       Ontario home prices were down 6% last month, Vancouver median and average prices are down 5% in May, the first drop in Canadian HPI price since April 2020 happened last month.   Inventory is rapidly increasing and most notably, prices across Canada dropped with only 2.2 months of inventory.  This has never happened.  You have to go all the way up to 5 months of inventory to see the nearest price drop. The question now is, which will break first (or the most), the economy or housing? www.thevancouverlife.com  _________________________________ 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

2021 home sales volume was 20% higher than any other year.  Along with all these home purchases comes debt in the form of mortgages.    A quarter trillion of new mortgages in 2021 to be exact.    Household debt in Canada is now at 180% of disposable income, a new all time high.  Whats more, with rates rising, the majority of new mortgages have been variable to the tune of 55%, up from just 8% two short years ago.    The amount of mortgages issued to people putting the minimum 5% down doubled from 2020.    So, is it all a house of cards about to come crashing down?  Or will record low delinquencies and homeowner equity carry us through to the next upward cycle?   We look into this further and share our vision on where housing is going next.www.thevancouverlife.com  _________________________________ 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

On the 'plus' side, unemployment is at an all-time, never been seen before low, at 5.2%   Meanwhile, there are a whopping 862,000 job vacancies at the same time.    The economy looks good, right?    Well, stepping back a bit, wage growth is only at 3.4% while inflation is around 7%, making wage growth negative.   Businesses are raising prices faster than salaries and the FIRE industries shed jobs at the highest rate in 4 years.When it comes to housing, sales in Toronto are down 40% in 2 years, dropping faster than they did during the Global Financial Crisis and prices dropped 5% in April, the fastest ever for a non 'lockdown' month of April.   And more rate hikes are coming... In GRVD, active listings jumped 10% in the first 2 weeks of May, are up for the 5th month in a row, and are the highest dating back to July 2021.   The Median and Average prices have dropped 9% in the past 2 weeks alone.  It appears the Bank of Canada has already taken notice as the Deputy Governor is already publicly stating that “ how high rates go will depend on how the housing market responds to rising borrowing costs.”On top of this, there is a backlog of 1.8 million immigrants looking to obtain citizenship and move to Canada.So while the real estate market is dropping off a cliff, the question now becomes, how big is this cliff, and how high will it bounce off the bottom?www.thevancouverlife.com _________________________________ 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

We just reached episode 100 and wanted to take this opportunity to thank all of you who have listened to our Podcast over the past 2 years and to all our interviewee's.    Over this time we have prided ourselves on bringing you real time information on the Vancouver real estate market along with a deep dive look into why prices are moving the way they are, and our expert opinion on what to expect in the upcoming months and how to best capitalize.   We also share our Top 5 Most listened to episodes and ask you, what would you like to hear next?  What do you want more of, less of, and who should we interview?   Please send us your feedback to info@thevancouverlife.com     Thanks again and here is to the next 100 episodes!!www.thevancouverlife.com _________________________________ 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

Home sales were just 1.5% above the 10 year average in April.   This is significant because for the last year and a half its been over 25% above.   This metric along with a record breaking reduction in the sales to active listings ratio are 2 of the biggest indicators of the shift in the marketplace.    In this episode we dive into the April 2022 stats and break down whats important and why the numbers are changing as fast as they are.  www.thevancouverlife.com _________________________________ 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

After an intense 27 month bull market that saw prices rise 38%, the Vancouver Real Estate market has officially peaked and now prices are dropping.  April home sales saw a 30% reduction in volume, and prices are lowering for the second month in a row.  While the drop is only a few thousand, the indicators are pointing for this amount to increase, and steadily fall for months to come.    In this episode we examine the key drivers of this downward trend and share our predictions on how far prices will fall, and for how long. www.thevancouverlife.com  _________________________________ 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

Sifting through rental ads and applying again and again for a rental can be frustrating to say the least.   And how do you tell if the rental information listed is even accurate?   And for landlords, sifting through dozens of applications is time consuming and again, very hard to tell who the best candidates are.   The solution?  Say hello to RentalHunt.ca      An idea spawned from 2 college students who know the pains of these scenarios first hand.  Sam and Amal share their vision of solving these pain points and how they see the future of rental housing.Learn more at rentalhunt.ca www.thevancouverlife.com _________________________________ 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 Bank of Canada raised interest rates a half point on April 13th marking the largest increase in 22 years, and the first back-to-back rate hike in 5 years.   Variable mortgage holders are now paying more for their homes and the BoC has all but guaranteed there will be more rate hikes, and soon.   So is it time to be worried about your mortgage?  Is it the right time to move into a Fixed Rate mortgage?   What does this mean to home prices?    Mychal Ferreira, a Senior Mortgage Specialist with the Bank of Montreal joins us this week to answer these questions. www.thevancouverlife.com _________________________________ 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 the March numbers firmly in place we can share that Vancouver home prices increased in value by over $130,000 in the first 3 months of 2022.   This comes on the heels of a record setting 20% increase in prices during 2021.   So when will this torrid pace of appreciating values end?  Soon.   Very soon.    2 of the 3 price metrics in March were lower - and this is just the beginning.  With most banks Fixed Rate Mortgages around 4%, we're seeing an immediate impact on the marketplace.  And how could you not?  With rates up 2.5% this year the average home buyer has seen their buying power decrease by 20%        A $2,400 monthly payment  a year ago got you a $700,000 mortgage.  Today, $500,000.   Big big difference.   So what happens next?  We dive into the data and give you our feedback, analysis and predictions on what is going to happen over the upcoming months.www.thevancouverlife.com  _________________________________ 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

On March 28, 2022 the Minister of Finance introduced a one sentence amendment that would allow homebuyers the opportunity to back out of a contract within a given amount of time.   The details at this point are vague at best, but we wanted to share our thoughts on what we know so far.  Essentially, the Bill is being put in place, to be implemented by Summertime, to allow buyers the time to perform an inspection and obtain financing.  Well, any good realtor will tell you this can be done prior to an offer - along with a number of other practices that entirely protect buyers.   It goes on to mention that this right of recision period may potentially be waived.  What?   And that a financial penalty may be put in place for buyers who do not complete on a purchase.     It's important to note at this time the legislation was put forth without consultation with the Real Estate Industry.    Said industry has voiced their opinions though, and presented a 57 page white paper outlining its recommendations on how to further protect buyers.   We dig into all of this and present our own solutions. www.thevancouverlife.com _________________________________ 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

After a 2 year bull-run with 20%+ annualized gains the Canadian Real Estate market is facing some headwinds.  30 year inflation highs with raw materials up 13% in the last 2 months alone along with the major economical impacts of the Russian war yet to be felt in North America will all contribute to a sentiment shift in the market.   While under construction homes are at record highs, a majority of those are rental units and won't help the low supply issue.   Couple that with rising construction costs causing new building permits to back off, down 19% in the last year alone.    Meanwhile, employment rates are at an all time high with 900,000 job vacancies across Canada and 1 in 4 businesses offer higher wages this year.    The market is clearly being pulled in 2 directions right now and what we can guarantee is that the next 2 years will look very different than the last 2. www.thevancouverlife.com _________________________________ 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

Do you have the wrong kind of debt? The kind that is not tax-deductible? Most of us do. The wealthy have debt too. The difference is they routinely turn their loans into “good debt” by making the interest tax deductible with the help of expensive accountants and lawyers. So while the wealthy are transforming their house mortgage loans into free tax refunds, the rest of us are paying off huge amounts of mortgage interest with after-tax income. Until now. The Smith Manoeuvre has introduced a new, simple, and powerful method that extends those tax-saving benefits to the rest of Canadians. It is now easy for you and your Smith Manoeuvre Certified Professional to start turning your bad debt into good debt, right away. Are you investing enough, soon enough? Most Canadians aren’t. After ever-rising taxes and the cost of making ends meet, most of us don’t have the resources to put away 10% of our income or max out our RRSPs or TFSAs every year. The benefits of compound interest, which are essential to our long-term financial well-being, remain elusive. But there is a way to change that. It’s done by transforming mortgage interest into tax refunds. Next to winning the lottery, nothing improves your cash flow more efficiently than the act of reducing your income tax – and doing it by making your mortgage tax-deductible. The Smith Manoeuvre is a remarkably efficient way for you and your family to raise large amounts of new money, through free tax refunds, so that you can start building a larger nest egg, sooner.  You may or may not have a monthly savings program already (congratulations if you do!) but how would you like to have an additional $750 per month to invest for your future?  Maybe $1,000 per month?  More? Is your mortgage killing you softly? A $500,000 mortgage at 4.0% over 25 years will set you back about $289,000 in interest costs. So that $500,000 will end up costing you over $789,000.  And that’s after-tax income, which means you’ll have to earn about $1,127,000 to pay off your home if you’re at the 30% tax bracket. No wonder it’s difficult to save for the future. But if you make it tax-deductible using The Smith Manoeuvre, you will recover a good chunk of that interest in the form of yearly tax refunds. Use the tax department’s money to pay down your expensive, non-deductible mortgage faster, and you’ll see it melt away many years sooner than you imagined possible. It stands to reason: if you are going to have mortgage debt, why not make it tax-deductible? The Smith Manoeuvre shows you how. In a nutshell.The Smith Manoeuvre employs refined and proven debt conversion techniques to transform mortgage interest into tax deductions. The method has a remarkable snowball effect that generates large and growing annual tax refunds, enables the homeowner to knock years off the life of a non-deductible mortgage and build an impressive financial portfolio at the same time. It is the most efficient way for families to raise the resources they need to secure both their house and income in retirement. The Smith Manoeuvre uses the legal tools of the CRA and Canadian Financial institutions. It has been reviewed by Revenue Canada staff, and endorsed by respected financial experts and economists, investment planners, and lenders.   Schedule a cha _________________________________ 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

There have been noticeable changes in the real estate market over the past 3 weeks.   Far less offers on properties, lower traffic levels at open houses, rising inventory, homes selling UNDER asking price.  It's a welcome change from the blowouts felt over the past 2 years.   And the cause?  Well, lots.   The increasing inflation felt largely in fuel and food, the stock market lowering and of course the Russian War.   All these are creating and environment of heightened uncertainty and people are pulling way back on major purchases and discretionary spending.  Housing will naturally feel the effects.   So where does it go from here?  And is this just a blip on the radar and low rates , high immigration and under building continue to make housing a rare commodity.   We dig into the answers in this episode and give you our predictions on what to expect in the coming months. www.thevancouverlife.com  _________________________________ 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

Another month another record, right?  Well, this record is something else.  After a 2 year Bull Run the market is accelerating.   Last month home prices increased at the rate of 4.6%.  IN ONE MONTH.   We shouldn't be seeing that rate over an entire year.     So why is this happening?  We get into that answer and dissect the February numbers in this episode.  The recent interest rate hike is examined and we give our forecasts into what you should expect to see in the Vancouver housing market in the upcoming months. www.thevancouverlife.com  _________________________________ 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

While you mostly hear about homes selling for hundreds of thousands of dollars over asking price and homes selling in a week - it is far from rosy out there.   In reality, this market sucks.   It is so one sided that buyers are understandably having a challenging time.  There are stories of some buyers submitting 31 offers before getting one accepted!  Imagine that roller coaster. Ugh.   Lenders are doing their best to let buyers know it's all but impossible to make guarantees prior to an accepted offer - yet buyers have to go subject free.   Inspections are being waived and inspectors schedules are changing constantly.   Comp'ing a property has become all but impossible with homes often selling for 10% above any reasonable market evaluation.  Line ups down the street for open houses and double digit multiple offers are still the norm.  Fatigue set in some time ago and the market is running on pure adrenalin - it feels stretched to the absolute limit right now, and for most people, this market sucks. www.thevancouverlife.com _________________________________ 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

Average home prices in Vancouver have gone up $100,000 in the first 6 weeks of 2022.  Yes, you read that correctly.    Prices, already detached from reality, have now entered a new level of insanity - as they are rising at the rate of $2,000 per day this year.    Last month, Toronto saw the average home price increase by 6.9%  IN ONE MONTH.    In this episode we share some stories and insights into what's happening locally and nationally, and discuss how much higher it can possibly go - and how far it will come down. www.thevancouverlife.com   _________________________________ 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

Attention Investors!  This one is for you.    Keaton Bessey from Greater Vancouver Tenant & Property Management Ltd. joins us to talk everything about Rental Properties in the Vancouver area.    From what is happening with rental rates to how to properly screen tenants in order to find the best ones.    When is it a good idea to work with a property manager, and when is it not?  What are the pros and cons.   Keaton also talks about which type of property is best to maximize your returns, and in which neighbourhoods.  A MUST listen for anyone with or thinking about getting a Real Estate Investment Property. Greater Vancouver Tenant & Property Management Ltd. Keaton Bessey, Managing BrokerText “homeowner” to 604-256-6930https://www.gvantpm.com/property_management_fees_services  _________________________________ 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

January 2022 started off with every real estate metric pinned to the top.  Average home prices increased by $42,000 last month hitting a new All Time High.  Incredibly tight inventory coupled with an abundance of active buyers saw multiple offer scenarios the norm and overall, January felt much more like a peak spring March / April market.    We dive deep into the stats and explore why the market continues its ferocious pace, plus we make our predictions into what to expect in the upcoming months.  _________________________________ 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

Pre Sale properties can be a fantastic option for both home owners and investors.   But how do you get the Best unit?  And for the best price?   And which areas are going to perform the best?    In this episode we interview  Scully, the Sales Director at Key Marketing.  Scully is an absolute legend in the Pre Sale world here in Vancouver, and he walks through how to navigate this market, how to position yourself for obtaining the most desirable units in a development, and how to get the best price and incentives.  Packed with pro tips, this episode shares how relationships are key and who to align yourself with for the best chance at a fantastic unit.   On top of this, Scully talks in depth about the upcoming pre sale projects Key Marketing is delivering in 2022 and how you can get First Access to them.   _________________________________ 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 the leading search portal for Real Estate in Canada.    In this episode Simon Bray, President of REW.ca walks us through the exciting new features their site offers to both home buyers and Realtors.    We talk about the record setting year that was 2021, and what he forecasts for the market in 2022.  Understandably, REW.ca has immensely powerful insights as they essentially have a crystal ball that can see into the future of real estate based on millions of home buyers behaviours.   _________________________________ 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

Pre Sale properties can be a great opportunity to own real estate for both investors and end users alike.   Where the biggest benefit can be is in getting First Access to the most desirable units.  The Vancouver Life Real Estate Group is excited to announce our partnership with Key Marketing - a Pre Sale Marketing firm in Vancouver.   Key Marketing will be releasing upwards of 20 pre sale projects this year totalling around 10,000 units.   As a listener to our Podcast, we can offer you exclusive first access to the projects, plus an array of incentives.   Contact us today if you are interested in learning more about our upcoming pre sale opportunities.    info@thevancouverlife.com _________________________________ 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

Vancouver Real Estate ended the year on a high note setting a new all-time high price record alongside record setting sales volumes. In a year that saw the average home increase in value by 17%, or $170,000, it's no surprise the cries to slow housing down are getting louder. A CMHC funded report suggests, amongst other ideas, to tax homeowners - upwards of 1% per year.  This additional cost somehow makes housing more affordable, according to CMHC.  In this episode we further dissect their taxation idea, dig deeper into the December numbers, and share our predictions on what to expect in the next 3 months in the housing market.  _________________________________ 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

2022 looks to be another very interesting year for the Vancouver Real Estate market.   Coming off of a year where practically every record was broken, Ryan and Dan set up this episode by sharing what the main drivers and economic forces are that will influence the market the greatest.   Should we expect to see further financial stimulus from the government, will we hit immigration targets, how high will inflation get and what will happen with interest rates?     With the landscape understood, Dan and Ryan share their predictions for sales volumes, inventory levels, which markets will outperform the GVRD average and, of course, what they expect prices to do - for both Vancouver as a whole, plus each individual home type.  _________________________________ 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

On January 2nd, 2021 we released our predictions for the 2021 Real Estate market in Vancouver.  In this episode, almost 1 year later,  we look back at which predictions we got right, some scarily so, and which ones we got wrong - and why.   This was a really fun exercise and one where we outline how certain areas of the market are quite predicable, even in a mostly unpredictable environment, by analyzing many data points and combining them with experience and our intuition. _________________________________ 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

From all-time-high prices, sales volumes, savings rate and credit growth, Vancouver, and Canadian Real Estate saw practically ever record broken in 2021.   Canadians are still flush with money and have more savings than ever - and with the policy makers flat out refusing to raise interest rates, add significant supply or even suppress the demand, housing prices are still trending upwards at an above average pace.     This undoubtably can't go on forever and we expect 2022 to be a very different year - but for now - home buyers are enjoying access to cheap credit and low rates and the record low inventory is proof of this.    It's going to take many months for the market to come back to an even playing field, but do expect this massive ship to start turning by Q2 2022.    _________________________________ 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

2021 has been one of the most fascinating on record when it comes to the Real Estate Market.   Prices are at all-time highs, sales volumes has already broken all time records, new mortgages are being issued at highest rate ever and it just seems to go on and on.  Any record you can think of was broken this year.     So where does that mean things are going to go?  In this episode, Ryan Dash and Dan Wurtele tee-up our forecast episode by providing a year end review of what happened in Canadian Real Estate and dive into the numbers, explain why and how things got to where we are, and hint at what can be expected in 2022.  _________________________________ 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

Vancouver homes hit a new all-time-high average price record in November, crossing the $1,200,000 mark for the first time.   This was largely driven by the heavily-favoured sellers market thanks to record low inventory and highly elevated sales volumes.    Dan and Ryan dig into the November numbers and break down what's most important to pay attention to, and what to expect in the upcoming months for Vancouver home prices.  _________________________________ 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 just set a new All-Time-High sales volume record amount, and there's still a full month of sales to go.   During this same time home prices have increased by 24% including the 2.7% gain last month alone.  This demonstrates how extreme the last year has been but now we are seeing indicators that we are near the end of this tremendous bull run.   All real estate goes through a cycle and the data is pointing to this one being near the top.  In this episode Dan Wurtele & Ryan Dash share these new metrics and outline what to expect next - and who is at most risk.   _________________________________ 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

Inflation just hit an 18 year high at 4.7%, a number widely believed to be largely underreported, or at least misrepresented.   Even at that amount, holding cash all but guarantees that you are losing money - by way of currency deflation.  In this episode Dan and Ryan discuss what inflation is, why it matters, and where they are seeing the smart money going to benefit from this environment.  _________________________________ 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

Toronto sales volume jumped 9.9% last month eating into already low inventory.  So much so that active listings hit a brand new record low at only 0.8 months of inventory!  Compare that to Vancouvers 2.2 months and you can imagine how extreme the situation is.   No wonder prices rose 4.3% in Toronto last month alone.     In this episode, we look deeper into what is happening in the Toronto housing market, we talk National Employment and where we predict housing prices to go 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

The average price of a home jumped $50,000 in October, hitting a new all-time-high of $1,226,000.  This happened in a month where sales jumped 11% and  inventory dropped a whopping 13% hitting a record low for the month.   These metrics pushed the Sales to Active listings ratio up to 45%, deep in a Sellers market.  In this episode we examine all 3 price metrics and explain what is driving this continued upward price pressure and when things might turn around.  _________________________________ 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

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

This week we return to talk about the looming Federal election as we dissect each parties housing platform and whether the promises made by the leaders of each respective party are what we collectively need to address extremely low levels of housing supply, increasing populations and increasing unaffordability. Are their promises feasible? Are they the right measures in today’s global economy and is banning foreign ownership going to have dire, unforeseen consequences? Tune in and see for yourself! _________________________________ 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

Vince Taylor, President of Pilothouse Project Marketing, joins us on this episode where he shares his wealth of Real Estate knowledge accumulated over 20+ years in the Industry.  We dive into housing affordability, why it takes developers so long to bring new products to market, his views on taxation and supply vs demand. Vince gives us an insight into where he sees the BC real estate market going forward, and even shares his #1 city most recommended to invest in.  _________________________________ 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

Inventory in Metro Vancouver is hovering around the 10,000 mark - the same amount it was in August of 2005.   The difference is, there are over 500,000 more people living here since then.   Understandably that makes for a very tight market.   Inventory has been dropping for 6 straight years and there are less than HALF the homes available than there was in 2015.   We dive into what is causing this lack of availability and if the record breaking building permits out there will help ease this pressure anytime soon.  _________________________________ 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

Both Median & Average homes prices in Vancouver are down over $60,000 in the last 3 months.   As we dig deep into the July Real Estate stats we uncover what is driving this downward pressure on prices, and give our predictions into how much longer the downward trend will go on.  Incredibly tight inventory coupled with extremely low new listings are creating a baseline effect and with new mortgage applications at a record high, the fall market may be poised for another serious run up.     _________________________________ 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

July sales slowed to the lowest amount seen in 6 months, and are down 40% since March.  The bigger story is that new listings were the lowest for the month in 20 years, leaving total inventory down 19% from last year, and keeping real estate favouring sellers.  Canadian inventory is at a 20 year low and BC has less than half the homes available for sale than just 6 years ago. Mortgage credit is ramping up where June saw the highest amount of mortgage applications applied for in Canadian history.  Insolvencies are down 40% since January 2020 and savings is up by $120B during the same time. Q1 2020 saw $11B go towards unscheduled mortgage pay downs and credit card delinquencies just hit their lowest rate on record, 1.3%  People are cash, and house, rich with a tonne of new credit coming down the pipeline.  Oh, and the government just extended their stimulus until October 23.  All this is setting up for a very active fall market. _________________________________ 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

Recent population growth estimates target 1 Million additional people living in Metro Vancouver by 2050.   Is housing growth on target to match this?   What about rezoning and densifying targets?    Will building permits become quicker to obtain and what about access to credit?   We dive into all these questions and give our projections for housing over the next 29 years. _________________________________ 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

Home prices are dropping noticeably in the first 2 weeks of July, especially in the detached segment of the market.   In this episode we dig into what is causing this drop and what you should be looking out for.   We take a look at the important data affecting home sales and future outlooks for real estate markets nationally plus a hyper focused look on what is happening locally.  _________________________________ 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 June 2021 Vancouver Real Estate Market stats are out and the numbers are all quite flat, especially when it comes to prices.  BUT this is coming off of a 20 month bull run - making a flat price month very different than what we've seen in the recent past.   So does this softening set us up for a downward trend in summer?   Some of the data is already pointing that way.  In this episode we dive into the data and share with you what to expect next in the Vancouver housing market.  _________________________________ 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 the average Vancouver home increasing in value by over $150,000 in just the last year, property owners are looking at their equity as an opportunity to invest.  In this episode we explore how you can borrow against your home and look at 3 real estate options of how to invest it.   _________________________________ 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

If you have tried to buy a home recently you've likely noticed that there doesn't seem to be a lot of options available, well, you're not wrong.   There are less than HALF the amount of homes for sale today then there were just 6 years ago.  This has understandably put upward pressure on prices, where in the last 12 months, the average Canadian home price has increased 25%, or $140,000.    These record high prices coupled with record savings and decreasing debt ratios has Canadians feeling rich and ready to buy more.   We dive into the current state of affairs and disseminate what to expect next.  www.thevancouverlife.com _________________________________ 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 Vancouver Life Real Estate Podcast is officially 1 Year Old  and has just surpassed the 10,000 downloads mark!  We wanted to say a very heartfelt Thank You to everyone that has listened and subscribed.  It really means the world to us.     In this episode we take a step away from real estate to take the opportunity to interview each other!  We secretly came up with 3 questions to ask each member of the team as a way for you to get to know us better.  The answers are quite inventive and we hope you enjoy this episode as much as we did recording it for you.  _________________________________ 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

As we emerge from a year and a half of pandemic lock downs and restrictions that radically changed what people look for in a home - what happens now?   Are buying habits going to look similar to what they did pre-pandemic?  Or have our housing needs changed forever?   Will businesses require people to come back to their downtown offices?   We look into these questions and share what's happening so far with the June 2021 sales numbers.  _________________________________ 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

After a 21 Month Bull Run that saw average home prices increase by 19% the indicators are now pointing downwards.  We are past the peak of the market and you can expect prices to correct over the upcoming months.   We deep dive into the May 2021 statistics and peel back the layers to provide you insights and predictions as to where prices are going next and how long it'll take to get there.  _________________________________ 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 pandemic impacted the commercial sector of real estate as well.   Understandably office buildings took a serious hit while, maybe not so expectedly, the demand for industrial properties skyrocketed.   In this episode we sit with Liam Simpson from William Wright Commercial Real Estate Services to take a deeper look into how each commercial asset class performed during the pandemic, where and when he sees the demand for office space to return, and where investors are putting their money today. _________________________________ 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

April inflation hit a 10-Year high and it triggered a warning from the Bank of Canada letting people know that interest rate increases are coming.   While they didn't say exactly when, this is a notable change of tone from just a few short weeks ago when the promise of record low rates maintaining until 2023 were echoed.  Second to that, the recommended increase to the Stress Test was confirmed today, lowering buying power by around 4.5%   We look at the effects these changes are going to have and discuss the national housing shortage in Canada, with notably the lowest homes per capita of all the G7 Countries. _________________________________ 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 sales data from the first 2 weeks of May shows that real estate prices have begun falling.   The Median price is off 6% already this month and every indicator is pointing towards a further decrease in price.  Inventory is increasing, sales are slowing, new listings are high and the sales to active listings ratio is down 22% from just 2 months ago.  Now, be careful to understand that this does not mean ALL property prices are decreasing, there is still tremendous activity and price growth for many sub $800k properties - but this is the beginning of the downward cycle in the market, putting an end to a 20 month bull-run that saw average home prices increase over $168,000.    _________________________________ 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

Home prices hit a new all-time high record in April as did sales volumes for the month.   BUT there are a number of key indicators that are pointing to an imminent slowdown, and soon.   Inventory is climbing, fast, sales ratios are dropping, multiple offers are fewer and further between, appreciate rates are slowing and the overall market sentiment has changed.   We dive deep into the numbers and bring you our anecdotal stories of whats happening at a ground level for us and our colleagues. _________________________________ 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 signs are becoming ever more clear that the Vancouver Real Estate Market is about to hit the top.   Multiple Offer scenarios are becoming fewer and farther in-between, price reduction emails are hitting our inbox, Inventory is climbing and days on market is increasing.   We dig deeper into the data and share our predictions into when and how much the market will drop once it hits the peak.    www.thevancouverlife.com   _________________________________ 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 first federal budget released in almost 2 years came out on Monday, and noticeably missing from it was any policies that would cool the housing market.   Is this really a surprise?  With 3/4 of Canadians homeowners, and 45% of homes owned outright with no mortgage, is there really a crisis?  Or do non-homeowners simply have a louder voice right now?   Who is the government trying to favour with their budget, the have-nots, or the have-yachts?  We explore both sides of this argument and uncover that the government is actually suppressing supply while elevating demand.    www.thevancouverlife.com  _________________________________ 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 Pre Sale Market hit a 59% absorption rate in March with 845 units selling.  That is the highest it's been since early 2018 - similar to the records set by the resale market.   A recent 227 unit tower sold out in 5 days, and the demand is increasing.  We dig into whats happening in the near future and how you can get involved.   www.thevancouverlife.com  _________________________________ 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

On April 8th the Office of the Superintendent of Financial Institutions (OSFI) proposed a  0.46% increase to the existing Stress Test, raising the mortgage qualification rate from 4.79% to 5.25%.   This will ultimately reduce people's buying power by 4.5%       But in this environment, will home prices reduce by a similar amount?   We look into what happened when the Stress Test was originally introduced, and how much home prices fell then.    www.thevancouverlife.com  _________________________________ 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 real estate record was smashed in March 2021, and most be a significant margin.  Prices, sales volumes, inventory, sales ratios, appreciation rates, the list goes on and on.  We take a deeper dive into the numbers and share our prediction on what's going to happen next.   www.thevancouverlife.com _________________________________ 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 Canadian Real Estate Market is so overheated that the IMF has come out and labelled it Risky, while RBC is claiming it could destabilize the economy.    Both bodies point to taxation and tighter credit controls as a solution, (aka, taxing the demand) while 2 councillors in Vancouver are pushing to fix the permitting process to help with the supply side.  All price, sales and listings are on track to set all-time high records this month, showing that any sign of a slowdown is likely months away. _________________________________ 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

Real Estate prices have been rising for 18 straight months and, recently, have gone parabolic.    With March on pace to be the highest sales volume month ever recorded, and all 3 price indicators at All-Time-Highs, the question becomes, When & How Is The Vancouver Real Estate Market Going To Slow Down?   We dive into what happened the last time the market rose this fast and what caused it to slow down, and for prices to drop.    Can these measures be implemented again?  What's different this time around?  Learn these answers and more in this podcast.  _________________________________ 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

Condos in downtown Vancouver were one of the few to experience a price drop during Covid.  While detached homes and townhomes saw double digit price increases, downtown condos actually dropped in price by 14%.   Pricing hit bottom in November and have been rapidly increasing ever since, up 7%  over just 3 months.   Inventory dropped from 1,200 to 700 and listings that sat on the market for months are now seeing multiple offers.   We dig into what is causing this sudden increase in interest and how long we expect it to last.  _________________________________ 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

Home prices jumped 2.6% in just one month as sales volumes registered 73% higher than the year before.  Mortgage rates have started to climb, but the market has yet to show any signs of slowing down.  We dig into the specifics and share some stories about what we're seeing in the market day in and day out.  _________________________________ 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 interview, we learn how people are using their insurance policies to buy real estate. Laurent & Robert are from Safe Pacific Financial, who specialize in building custom financial plans for success driven Canadian’s. They help Canadians understand the power of using life insurance as a financial tool. By protecting their client’s greatest assets and helping them achieve their financial goals, they can rest easy knowing their futures are secure.  We learnt a lot from this episode, and think you will too.To learn more, visit: https://safepacific.com/ _________________________________ 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

Ever thought about having a custom built home made for yourself?  Wonder what the process is like?  The cost?  How long permits take?  The benefit compared to a major renovation?   These answers and a lot more can be found in this interview with Mohsin Ghuman from Pacific Vision Development.  Mohsin and his team specialize in designing and building custom homes and talk about the client journey from initial discussion through to handing over the keys.   https://pvdevelopment.ca/ _________________________________ 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

Jon & Michael have a wealth of knowledge when it comes to trends in the Vancouver Real Estate market.   We dive into how the Pandemic affect prices and buying habits, what properties look to have the most demand moving forward, and the unbelievable amount of taxes you pay when buying a home.  _________________________________ 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 strong sales volumes seen during the second half of 2020 carried into 2021 with January seeing sales at a 2nd all time high, only trailing 2016.    This is a reoccurring theme lately, where it feels like 2016 all over again.  Properties are appreciating at a very high rate and multiple offer scenarios are commonplace.  We explore what is causing this sustained pressure and how long we think it will last. _________________________________ 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 mortgage industry is changing faster than ever and Peak Mortgages creator Julie Tran walks us through what it takes to get properly financed today and how much people can afford compared to just last year.  _________________________________ 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

2020's record breaking pace continues into the early weeks of 2021 where we're seeing multiple offers and record breaking prices across the entire lower mainland.   Thing is, it's not just in the detached market either.  Townhomes, Duplexes and even condos are seeing increased activity levels and shocking sales prices.    _________________________________ 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

Ryan & Dan interview Ingo Seibert in this episode, a high profile individual who specializes in real estate investment, development, construction & renovation. Best known for his racetrack, Area 27 in the Okanagan, Ingo owns Lake Excavations and Avion Developments, a group with projects across Western Canada. We look at the investments he's made, his successes and failures and examine how he learned to think as an investor, as well as where he learned the necessary investment lessons required to be a success and finally what he thinks the next few years will look like for local real estate investment.  _________________________________ 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

2020 finished with another recording breaking month.  December real estate sales ended up over 53% higher than last year and almost 58% above the 10 year average.   This pushed all property types into a Sellers Market and prices higher.   We look at what is driving these prices and make our predictions as to what to expect in the upcoming months. . _________________________________ 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

2020 was a wildly unpredictable market - we don't think anyones forecasts from back in April hit the mark.   As the world is settling into our new reality, we look forward into what is going to drive prices into 2021 and make our predictions for each property type.   What will interest rates do?  How about the Pre Sale Market?   Should we be expecting new taxes?   We discuss these topic and more in this weeks podcast.   _________________________________ 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

2020 has really shown how much power the policy makers have on controlling real estate prices in Canada, and particularly, Vancouver.  From mortgage deferrals, lowered interest rates, increasing access to credit and easing of the stress test, these changes have fuelled a double digit annual gain in real estate prices - all while during a recession and pandemic.   Looking beyond just this year, we explore zoning, building permit applications, rental restrictions, taxes and other vital factors that impact the pricing of Vancouver Real Estate.  With special guest Steve Saretsky. _________________________________ 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

This month the Stock Markets, Bitcoin and Canadian Real Estate prices high all time highs.  We look into how this mass wealth creation is shifting buying habits and the effects of the ever increasing economic divide.  _________________________________ 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 holidays may be thought of as a slower time of year and one to avoid if thinking about listing your home.   In this episode, we talk about the reasons this time of year can actually be a benefit to list, and how the current, well-above average, activity level can accentuate that.  _________________________________ 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

November sales in Vancouver were the second highest of all time.  Detached home prices increased a full 1% in value last month, while condos dropped a full 1%    We dig deeper into what is causing this price divergence and discuss the new all-time lowest mortgage rates available, at 0.99%  _________________________________ 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 new Skytrain Line will extend along Broadway from VCC to Arbutus.  We explore what will happen to real estate values during construction and after completion, especially with properties near the new Skytrain stations.  Both residential and commercial properties are evaluated, both in sales value and the rental premiums to expect. _________________________________ 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

Bank of Montreal Private Wealth Portfolio Manager Gurpreet Sohi walks us through his role in helping individuals and families  manage their wealth and well being.   We talk financial literacy, tax codes and where he sees the current opportunities in the investment 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

Prices continued upwards in October 2020 and sales volumes were the second highest ever recorded.  Second only to the last recession.   In this market update we dig deeper to see how individual property types are performing in respective areas, and what is driving this continued feverish pace of real estate.   _________________________________ 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

High level mortgage specialist Mychal Ferreira with the Bank of Montreal walks us through what is happening in the Mortgage space in Vancouver.   From record low rates to record high volumes, when it's a good idea to refinance and what rates they can get for investors, Mychal shares a wealth of knowledge gained from over 15 years in finance.    _________________________________ 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

Investment Revenue Realty is building a truly turn-key investment opportunity in the fastest growing municipality in BC, Langford.   These condos come fully tenanted with management in place and are cash flow positive from day 1.  We are joined by Cynthia Aasen, managing broker of IRR, to talk more about this project and their upcoming investment summit that you can join for free.  _________________________________ 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 biggest question we get as Realtors is "How's The Market?"   And this comes from sellers, buyers, investors and those just curious about what's happening.  The Vancouver market moves quickly in the best of times, let alone during a global pandemic, record high unemployment and the worst recession since WWII.   And yet, we're seeing record sales volumes and price increases in many markets and across all property types.   In this episode we share our recent experiences and those of the industry professionals and mortgage brokers we interact with daily.   _________________________________ 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

CMHC coined the term "Deferral Cliff" when referring to the end of the grace period given to mortgage owners in Canada that deferred their payments.   With 7% of BC mortgages deferred, how many will actually go into arrears?   CMHC predicts 20% of mortgages will, and our guest Tyler Wilson from Pilot Mortgage Group agrees with the economists and has a much different answer.  We look into how housing prices may be affected and what you can do if you need to defer or extend your deferral period.  wearepilot.ca _________________________________ 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

September sales volume set an all-time record high and prices increased once again. We dig deeper into what is driving the demand and dissect each property type and area to give you real insights into what the Vancouver Real Estate Market is doing, and looks to do in the upcoming months.  _________________________________ 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

Buying a home is likely the largest purchase you will ever make, so having a lawyer on your team to protect your interests is extremely important.  Russell McDonough from Kearns and Company tells us about when and why to hire a Real Estate lawyer, the incentives available for first time homebuyers, and shares some horror stories from people who didn't hire a lawyer and resulted in tens of thousands of dollars of unexpected expenses.    _________________________________ 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

Tyler Burley is a home inspector with Pillar to Post.  He has inspected almost 1,000 properties and is who we recommend the most to our clients.  In this episode we learn what to expect, and what not to expect, from a home inspection, the process, costs and time involved.  Tyler shares some stories of the most beautiful homes he's seen, and some of the more shocking ones.   Everything you've ever wanted to know about home inspections can be heard 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

Kicking off the 3 part series that takes a deep dive look into the key members you need on your team, we start with Andrew Wright, a Mortgage Broker with The Mortgage Group.  Andrew walks us from start to finish on what is required to obtain financing, how much you can expect to qualify for and his thoughts on the future of interest rates.  For more information on Andrew, please visit wrightmortgage.ca _________________________________ 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 saw a 5-year high in real estate sales volume as prices for all property types rose. Inventory is starting to climb but not fast enough as all property types remain in a Sellers Market.  We look into the overall picture, go deeper into specific areas and then dissect the economic drivers that are driving these price changes.  _________________________________ 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

Buying a home is an exciting time and it's easy to miss a step along the way.  But these missed steps can be very costly and not knowing what you don't know can really hurt home buyers, both financially and mentally.   We go through the biggest mistakes first timers make, and how to avoid them. _________________________________ 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 biggest question we get as Realtors is "How's The Market?"   And this comes from sellers, buyers, investors and those just curious about what's happening.  The Vancouver market moves quickly in the best of times, let alone during a global pandemic, record high unemployment and the worst recession since WWII.   And yet, we're seeing record sales volumes and price increases in many markets and across all property types.   In this episode we share our recent experiences and those of the industry professionals and mortgage brokers we interact with daily.   _________________________________ 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

Multiple offers have become the norm again in Vancouver Real Estate, especially in the detached market under $2m.   Here we share the 12 best tactics to use to ensure you come out on top with the winning offer, and make that home yours.  _________________________________ 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 July Real Estate stats are in and Vancouver continues to buck the trend and surprise us once again.  Prices are up for all property types and each one is also in a Sellers Market.  We look into the overall picture, go deeper into specific areas and then dissect the economic drivers that are driving these price changes.  _________________________________ 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

People often ask the question "Should I Buy or Rent?" and this podcast takes a deep dive into answering that question.  We discuss not only the financial aspect, but look at the emotional, tactical and practical elements as well.   We run a comparison to see how the real estate market has performed compared to putting that same downpayment in the stock market instead.  Who has more money after 5 years?  How about 10 years?   The answer may surprise you.  _________________________________ 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 Metro Vancouver Real Estate Market is as interesting as ever with some ares hitting all-time high sales prices.   We dig deeper into which neighbourhoods are outperforming the market and what is driving the demand.  _________________________________ 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

Purchasing a home can be one of the most exciting and rewarding experiences.  The pride of home ownership is one of life’s greatest joys and biggest accomplishments. It is an exciting time and there is a lot to learn so it’s natural that you will have questions along the way. This podcast gives you an overview of the real estate transaction process and help provide clarity and peace of mind during the home buying journey. It will help empower you with key market information, industry knowledge and provide you every possible advantage to help you make informed decisions along the way.  Being educated allows you to make intelligent decisions that help create a stress-free and enjoyable home buying process.We discuss each step in detail and the timeframe expected to navigate each one.  By the end you'll have a thorough understanding of how to buy a home in Vancouver, the costs to do so, and the team you need to successfully reach your home buying goal.  _________________________________ 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

Assessed Values seem to carry a lot of weight in Vancouver when people are comparing homes to their listed and sold dollar amounts.   While Assessed Values can be a useful reference point, final sale prices can be as much as 40% off of the assessed amount, both above and below.   So what are Assessed values, how are they determined, and how are they sometimes so wrong?   We get you answers to these questions and more while we dig much deeper into the world of Assessed Values.  _________________________________ 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 June 2020 Vancouver Real Estate Market numbers are out and Dan & Ryan dig into these an explain what is driving them.  After taking a look at the Greater Vancouver Market in general, they take a micro look at the Vancouver West market, and howe each three properties types performed.  They discuss current market trends, multiple offers, anecdotal stories, mortgage updates and a forecast into what may happen over the next few months.  _________________________________ 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

4 months into a pandemic and Vancouver Real Estate prices have not fallen.  In this episode of The Vancouver Life Real Estate Podcast local Realtors Dan Wurtele & Ryan Dash explore why prices are remaining stable and how the Vancouver market is bucking the trends once again.    _________________________________ 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 first Vancouver Life Real Estate Podcast we share insights into who will most benefit from listening to this podcast, what type of questions we'll be answering, who will be interviewed, what kind of take-aways you can expect to get and how to implement those into your Real Estate activities. The podcast wraps up talking about what The Vancouver Life is and the Core Values that drive us.  _________________________________ 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