Canada’s housing supply is at a breaking point, and it’s time for an innovator’s mindset to overcome the barriers hindering progress. The business-as-usual approach is no longer working. Canada Mortgage and Housing Corporation (CMHC) has stated that Canada needs to build 5.11 million new homes between 2022 and 2030 to restore affordability to the market. To put that into perspective, Canada has never built more than two million homes in any eight-year period. There has been a lot of discussion about the bottlenecks preventing our country from meeting the housing supply challenge — but the bi ..read more

The British Columbia Real Estate Association (BCREA) released its 2024 Second Quarter Housing Forecast yesterday. This year, sales in the province are forecast to increase by 7.8 per cent to 78,130 units, while the association expects sales in 2025 to rise to 86,480 units.   “After a slow start for the housing market in 2024, all eyes are on the Bank of Canada. Although fixed mortgages are down significantly, it appears that buyer confidence is hinging on seeing the Bank lower its policy rate,” says the BCREA’s chief economist, Brendon Ogmundson. ”Given weak economic growth, a slowing ..read more

As political parties jockey for position in advance of the next federal election (taking place in October 2025, at the latest), the housing supply in Canada continues to be a major topic in the public discourse. Since the last election, the Liberal Government launched several major housing-related initiatives. These include a $4 billion Housing Accelerator Fund (HAF), and more recently a $6 billion Housing Infrastructure Fund (HIF), intended, among other goals, to provide Provinces and Municipalities with alternate sources of funding to the infrastructure-related charges often imposed on hou ..read more

The majority of Canadians (76 per cent) who don’t own property feel that entering the housing market is out of reach, according to a recent CIBC poll. However, over half (56 per cent) of this group are still optimistic and hold on to the homeownership dream — though just 28 per cent are currently saving up for a down payment.   Overpriced markets: largest barrier for non-homeowners   Not saving for a down payment seems mostly caused by an inability rather than unwillingness, as this inability was cited as one of the main barriers to homeownership (63 per cent). The largest barrier ..read more

The Fraser Valley Realtors Charitable Foundation (FVRCF) commends Chris Shields and Rob Christensen for contributing countless hours serving as volunteers for the Fraser Valley Real Estate Board (FVREB).   First to sign up for Donate per Deal   FVRCF launched Donate per Deal, a new fundraising initiative, and Shields and Christensen were the first realtors to sign up. The program allows realtors to have a donation deducted from every real estate transaction or “deal” they make. Donations are collected by their offices and submitted directly to the FVRCF. “Realtors are incredibly ge ..read more

Did you know that April 24th is Administrative Professionals’ Day this year? If you’re a busy realtor, chances are you have (or have had) an administrative assistant supporting your day-to-day business operations. Today we honour the real estate administrative professionals in our lives, often the unsung heroes of any real estate brokerage. We spoke with Ashley Wilson from Abundance Haven Real Estate Services and Rachel Wakaluk from Garbutt + Dumas Real Estate Team, based in British Columbia, to get a glimpse into the day in the life of a real estate administrative professional.    ..read more

76 per cent of Canadians who bought a home within the last five years say they have no regrets despite rising interest rates and mortgage payments, according to a recent Wahi survey. Ontario homeowners were found to have the least amount of regret, while British Columbia homeowners indicated the most. “While some homeowners are undeniably facing challenges today, there are a variety of reasons for them to feel confident in their decisions,” says Wahi CEO Benjy Katchen. “Owning a home is deeply ingrained in the culture, as Canada’s homeownership rate sits at 66.5 per cent.” Here are some key ..read more

In an era where economic uncertainties loom large and real estate prices soar to unprecedented heights, the dream of property investment seems increasingly elusive for many. However, a solution emerges from the challenges faced by aspiring investors: Investium, a pioneering platform, aims to democratize real estate investment by fostering partnerships among like-minded individuals. Investium addresses a common dilemma many prospective real estate investors encounter: the lack of time, experience or capital to reach success in the market. As the gap widens between the desire for real estate i ..read more

Sotheby’s International Realty Canada recently announced that Ken Mazurek, regional managing broker, Southwestern Ontario, has been awarded the Ontario Real Estate Association (OREA)’s Young Professionals Network (YPN) Leadership Award. The award is given annually to a young professional in real estate who has shown outstanding commitment to the industry, exemplary leadership qualities and a dedication to innovation and community service.   ‘Set an inspiring example within the real estate industry’   Don Kottick, CEO and president, Sotheby’s International Realty Canada, indicates t ..read more

Recently, RBC Economics and Thought Leadership released its report, The Great Rebuild: Seven ways to fix Canada’s housing shortage which discusses factors that led to Canada’s housing crisis and policy ideas to address it. The organization’s research found that one million of 1.9 million new households by 2030 won’t be able to purchase a home if affordability remains near where it is now. On top of this, over 40 per cent of those households also won’t earn enough to afford market rent prices.   Source: RBC Economics   “The current affordability crisis has been driven by a massive ..read more