The NDP wants to remove rental restrictions on older condos saying that it will open up more homes for renters. At the same press conference, Mr. Eby intends to introduce a flipping tax (I did a video on this 2 weeks ago). Saying that young families and 1st-time buyers are getting outbid by flippers. By removing the rental restrictions he is taking away the one advantage young families and 1st-time buyers had on these units. Now investors will also be able to buy these units, this will cause the price of these homes to rise sharply and in many cases, the families and 1st-time buyers will be outbid by the much stronger investor buyer. In other words it will do the reverse of what the NDP is claiming it will.

A new set of detailed statistics was just released from statistics Canada on home ownership in this country. It’s no surprise that home ownership continues to decline. We are now at 66.5% of Canadians who own their own home. Down from 69% in 2011. I would say this number is even lower in Greater Vancouver and the trend will continue as more and more people are unable to get into home ownership and will become lifetime renters.

I often hear investors complain that they are at a disadvantage competing with professional money managers, hedge funds and other Wall St professionals. You are if you’re a trader but you have a big advantage over these guys if you simply buy and hold the index for long periods of time and reinvest the quarterly dividends.

Just finished declaring all my Vancouver Empty Home Tax declarations and now I’m hit with an even larger tax declaration in the form of the BC Speculation Tax. Which not only covers my properties in Richmond but Vancouver for a second time. In reading the pamphlet that comes in the mail along with the declaration it states that "over 99% of British Columbians are exempt from the tax". My question is then why are we doing it and has the tax done what was promised 3 years ago when it was introduced?

The latest stats from the Vancouver Real Estate Board show that we are in an historic low inventory situation. Strong Sellers' Market and 4 or 5 buyers for every home. Also an update on the Vancouver empty homes tax.

It’s Saturday so time for one of my investing mindset videos on what it takes to become a successful investor. It’s really much easier than most people think, if you follow these simple rules.

After a 2 year freeze on landlords being able to raise rent, the NDP recently announced a measly 1.5% allowable increase for 2022. This, with inflation and property holding costs rising at a record setting pace over the past 2 years.

I’m expecting the first of many interest rate hikes to start any day now. What kind of effect will these have on the Vancouver Real estate market. Also my comments from an interview with Peter Routledge the country’s top banking regulator on how he seeing a speculation type fever in the countries housing market.

With inventory at a 30 year low and 5 buyers for every good quality unit we have entered into a crazy hot Sellers Market for Vancouver condos. Eventually multiple interest rates hikes and an increase in inventory will slow this strong sellers market, but I could see a 1-2% month-over-month price increase continuing into the Summer.

Rarely do I post video tours of my listings, but it’s Saturday and this is a really nice home. Large 1393 sqft completely renovated in 2021 to the highest standard. Unobstructed water, city and mountain views. Units of this quality often aren't available.