Connect With Us To Talk Real Estate: 📆 calendly.com/thevancouverlife _________________________________ Canada's population has surpassed 41 million, growing at a rate of approximately 4,000 people per day, equating to nearly 1.5 million per year according to StatCan's real-time tracker. This indicates a significant increase, with 480,000 people added in the past two months alone. If this growth rate persists, it will surpass the federal government’s 2024 target. Historically, a 1.2 million annual growth rate strained housing and infrastructure, and the current trend suggests even more rapid growth, potentially leading to further challenges. In March, building permits issued fell by 4% month-over-month, with a 7% decline in single-family homes. This trend undermines the federal goal of constructing 3.8 million homes over the next seven years. Although there is currently a strong pipeline of homes under construction, the decline in new permits suggests a potential future shortage, particularly in populous provinces like Ontario and British Columbia. New home completions are at a seven-year high, but the number of dwellings under construction is declining, indicating fewer new homes will be available in the coming years. Credit card balances have surged to $106 billion, a 40% increase since 2021, indicating economic stress. Domestic business lending by chartered banks declined for the third consecutive month in March, with the lowest annual loan growth rate in 25 years outside of a recession. While mortgage arrears at major banks remain low, smaller lenders are experiencing higher arrears, particularly among non-prime borrowers. This could foreshadow future challenges for prime borrowers. Housing affordability improved slightly last month, with the average monthly mortgage payment for a typical Canadian home now at $3,225, down $330 from its peak in September 2023. However, this is still double the cost from 2021. The Wall Street Journal reported that foreign investors withdrew $6.2 billion from Canada in Q1, marking the first such divergence in 14 years. In contrast, Canadian investment abroad totaled $30 billion. This trend highlights a decreasing interest from foreign entities in Canadian investments, which could negatively impact GDP and employment. Canada’s total active housing inventory rose 6.5% in April, with notable increases in British Columbia (43%) and Ontario (58%). Total available listings now stand at 160,000, up from a low of 90,000 in 2022, but still below the peak of 250,000 in 2015. Alberta, however, saw a 20-year low in inventory, contributing to record-high real estate prices. May's data will be crucial to determine if this inventory spike is an anomaly or the start of a new trend. A recent comment by Prime Minister Justin Trudeau highlighted the government's inclination to protect housing prices rather than making homes more affordable. This stance is seen as a strategy to maintain voter support and economic stability. Measures such as allowing homeowners to defer mortgage payments during the COVID crisis and extending amortizations during rate hikes illustrate this approach. The housing market is unlikely to see significant price reductions regardless of political changes, as no politician would risk campaigning on lowering home values but rather making them more accessible or affordable to buy. The next interest rate announcement on June 5th is highly anticipated. Markets expect a modest rate cut of 0.5% in 2024, starting in July, with a long-term outlook of rates decreasing to 3.5% by 2026 and 3% by 2028. A rate of 3% would stabilize the housing and investment landscape, avoiding extreme lows seen during the Global Financial Crisis and the COVID pandemic. The average and median home prices are currently at all-time highs, with the Home Price Index (HPI) at a two-year high. Despite low sales numbers, the market remains robust with 2,700 sales, marking the fifth-highest total over the past 24 months.
We immigrated to Canada (Nova Scotia) about 12 years ago from Germany. Really liked it in the beginning. It was getting worse by the year but since the shutdown things have gotten to the point (extremely low wages, very regulated, extremely high taxes, poor health care, poor government punishing people that want to do something) where last winter we were debating of leaving and started looking for alternatives. We looked at Mexico, Thailand, Costa Rica, Equador, Belize,etc. and were kind of shocked how expensive®ulated it has become there as well. We are not baby boomers and dont have a pension, have young children and dont work online. Not sure what to do and there are probably a lot of people that feel that way and the elites know it.
If the Canadian government would have done their due diligence back in the early days to boost the countries birth rate , this mass immigration event could have been curtailed.
I think we created a culture of me, me, me and how does my significant other compare with him or her? People from different cultures have a get on with it mentality which means, “which partner will make our lives easier?” Not “which partner will impress my friends?”
@@imaginethat765 we (different cultures) also have a desire for moral goodness rather than immediate hedonism that the west is pushing as "freedom and human rights". There's a desire to improve one's self to become a better person, a better provider for the family/children, a better spouse, a better child, a better parent... Where as in the west it's all about oppressorships; who is oppressing me? Who is limiting my freedom to do whatever degenerate thing I want? Blame the government, blame systems, blame white people, blame men, blame everyone but themselves.
@@imaginethat765 It is probably true. The glorification of Froyds ideas and the drug culture that gave way for dissolution of family values was the pitfall of western culture.
Planned my exit 12 years ago. Still fighting to stay here. We have a treasonous Government at the moment. Many friends have already left and prospering now.
One can sell Canadian companies short keeping in mind the U.S. stock market today is the most overvalued of all times. I wouldn't sell the gold or silver stocks short as the U.S. dollar should fall from here on in.
Thanks for tuning in. Uncontrolled is the right word, don't get us wrong - we're a nation of immigrants - but you can't have everything all at once. It puts too much stress on the local economies and shifts the demand and supply curve.
@@TheVancouverLife Oh spare us the narrative please, it's been almost 200 years since Canada became a country, it's time you accept the fact that your country is a WHITE, EUROPEAN NATION built 200 years ago with WHITE EUROPEAN ideals and principles, as a skilled immigrant nothing makes me shiver more than hearing a white european Canadian say ridiculous things like that, seriously stop it. What your politicians have done to your nation in the past decades is nothing short of deplorable. Just for your information, both your "native" people and my "native" people (South America) came from Asia millennia ago, that makes EVERYONE in America an immigrant by that definition, so it's dumb to be stuck on that idea. Go ask a Colombian or an Argentinian if they're a "nation of immigrants", you'll get a punch to the face and deservedly so.
Ozzie here- don't feel alone Canucks. Our stupid politicians are in competition with yours to head our country down as fast as possible also. Get some physical silver while you can.
@@mosquitobight greetings across the pond . If I knew what the abbreviation was ? Anyway I dislike all politicians. I think they are all closet communists and not one statesman among them. It is only we " the aware" who are not doomed, who have our own row boat on the Titanic .Merry Christmas
I am working whith 30 Filipinos and 5 Africans for 6 years now. 2/3 of thems want to return in their country in a few years. They will be millionnaire and be kind of rock stars in their country. They are here because USA did not accept them. They are not interested to integrate, speak very basic English, do not know our culture, love Trudeau because he permits them to live here. They vote for him because he is a god that gave them $$$. In 5 years, they will be gone, according to them, and be back in their country or if by chance they are accepted in USA.
I left early last year to the US via an L1, i guess ill be in the 2023 stats. Frankly, I regret not going years ago. Ive advanced more in a year here vs many years in Canada. The salaries and career opportunities are much better. I get paid more and pay less tax. Infrastructure is better, weather is better, much more to do here. I'm scratching my head as to why I waited until my 30s to leave.
I rememeber when I went on a visit to Vancouver and the taxi driver asked me if I was surprised by the size of the city... I couldn't hold back my laughter, Mexico City's 2024 population is now estimated at 22M and even with that many living in the same city, the housing market is still not as crazy as in Vancouver.
yes , everybody is talking about population because they are brainwashed. for years they lived with tiny population and did not care really what the hack their country was about or what was happening.They are still do not have any idea where the country is taken. They all blame population...
@@TheMotArt BC west of the Rockies is mostly mountains, there are just a few narrow river valleys where you can build, but at the expense of taking land from the fruit growing industry. The northeast corner is the coldest, rockiest part of the prairie, basically little Alberta. Then the treeline, and the Canadian Shield underneath.
That s the main point. Kanata became unaffordable place to live. People are cold and now they are getting poor, living at best paycheck to paycheck. Totally depressing country.
I'm 61, retired, born and raised in Canada and have lived there all my life. Same with my parents and grandparents. I'm looking at finding a way to get the hell out of this benighted country. Politcians don't give a fuck and seem to be bent on breaking all Canadians. Don't know where I am going to go, but I figure almost anywhere has to be better than here. Never imagined at any time in my life that I would be forced to consider leaving.
Canada needs to speculate less on these wacko industry ideas and more on the local housing shortages.. especially for the poor. These people aren't even as hard to maintain as 95% of people in this world, yet hotels and nearby apartments can't give them a toilet and a bed for a night? What's next, AirBnB hotels, targeting homeless people on television? Is the government really just gonna let the private sector do something about it, rather than ever get seriously involved?
It’s losing its lustre because you actually have to compete for a high quality of life. You’re in a difficult position without a good education and credentials thereafter. Gone are the days where 60 to 75K got you a small house, car and vacation time. Big cities in Canada always had an inferiority complex and wanted to play with the big players. Well, congratulations…every big city is in “the show” and that has to include high end housing at ridiculous prices, or crappy housing at slightly less expensive rates. Congrats people…you did it to yourselves. Unforced errors at its finest!
Ever since 2010 Vancouver Olympics when we were on the world stage I feel like its never been the same. Im not saying its totally bad, it just benefited some and vice versa for others
Not only that if you're white you never get the job anymore due to companies being accused of race discrimination. This is the reason productivity keeps going lower as the third world workers supplant the Canadian workers.
Canada does have a foreign buyer ban in effect until 2026. To be able to purchase a home in Canada, you will need your Permanent Residency status. There are a number of exemptions to this ban which you can view here: laws-lois.justice.gc.ca/eng/acts/P-25.2/page-1.html
I'm glad there is less foreign money coming in and making it unaffordable for Canadians, especially Vancouverites. Who needs another minimum wage employer? Corporations are addicted to slave labour and no environmental regulations in resource extraction, so why would they come here to pay living wages? I'm still waiting for the population to drop in BC. We grew by 178,000 in 2023. How do we build houses, schools, hospitals fast enough? Were do the doctors, nurses, teachers etc. come from. A 20% correction is what's needed.
Fentanyl is now more popular than ever in Vancouver. Most use their food money to buy drugs instead. The streets of Hastings Avenue would be full if not for the drug overdoses each day.
Connect With Us To Talk Real Estate:
📆 calendly.com/thevancouverlife
_________________________________
Canada's population has surpassed 41 million, growing at a rate of approximately 4,000 people per day, equating to nearly 1.5 million per year according to StatCan's real-time tracker. This indicates a significant increase, with 480,000 people added in the past two months alone. If this growth rate persists, it will surpass the federal government’s 2024 target. Historically, a 1.2 million annual growth rate strained housing and infrastructure, and the current trend suggests even more rapid growth, potentially leading to further challenges.
In March, building permits issued fell by 4% month-over-month, with a 7% decline in single-family homes. This trend undermines the federal goal of constructing 3.8 million homes over the next seven years. Although there is currently a strong pipeline of homes under construction, the decline in new permits suggests a potential future shortage, particularly in populous provinces like Ontario and British Columbia. New home completions are at a seven-year high, but the number of dwellings under construction is declining, indicating fewer new homes will be available in the coming years.
Credit card balances have surged to $106 billion, a 40% increase since 2021, indicating economic stress. Domestic business lending by chartered banks declined for the third consecutive month in March, with the lowest annual loan growth rate in 25 years outside of a recession. While mortgage arrears at major banks remain low, smaller lenders are experiencing higher arrears, particularly among non-prime borrowers. This could foreshadow future challenges for prime borrowers. Housing affordability improved slightly last month, with the average monthly mortgage payment for a typical Canadian home now at $3,225, down $330 from its peak in September 2023. However, this is still double the cost from 2021. The Wall Street Journal reported that foreign investors withdrew $6.2 billion from Canada in Q1, marking the first such divergence in 14 years. In contrast, Canadian investment abroad totaled $30 billion. This trend highlights a decreasing interest from foreign entities in Canadian investments, which could negatively impact GDP and employment.
Canada’s total active housing inventory rose 6.5% in April, with notable increases in British Columbia (43%) and Ontario (58%). Total available listings now stand at 160,000, up from a low of 90,000 in 2022, but still below the peak of 250,000 in 2015. Alberta, however, saw a 20-year low in inventory, contributing to record-high real estate prices. May's data will be crucial to determine if this inventory spike is an anomaly or the start of a new trend.
A recent comment by Prime Minister Justin Trudeau highlighted the government's inclination to protect housing prices rather than making homes more affordable. This stance is seen as a strategy to maintain voter support and economic stability. Measures such as allowing homeowners to defer mortgage payments during the COVID crisis and extending amortizations during rate hikes illustrate this approach. The housing market is unlikely to see significant price reductions regardless of political changes, as no politician would risk campaigning on lowering home values but rather making them more accessible or affordable to buy.
The next interest rate announcement on June 5th is highly anticipated. Markets expect a modest rate cut of 0.5% in 2024, starting in July, with a long-term outlook of rates decreasing to 3.5% by 2026 and 3% by 2028. A rate of 3% would stabilize the housing and investment landscape, avoiding extreme lows seen during the Global Financial Crisis and the COVID pandemic. The average and median home prices are currently at all-time highs, with the Home Price Index (HPI) at a two-year high. Despite low sales numbers, the market remains robust with 2,700 sales, marking the fifth-highest total over the past 24 months.
Canada is a 2-star motel that still charges 5-star rates..
You are dead wrong ! This is a one star Hotel charging 5 stars rate.
We immigrated to Canada (Nova Scotia) about 12 years ago from Germany. Really liked it in the beginning. It was getting worse by the year but since the shutdown things have gotten to the point (extremely low wages, very regulated, extremely high taxes, poor health care, poor government punishing people that want to do something) where last winter we were debating of leaving and started looking for alternatives. We looked at Mexico, Thailand, Costa Rica, Equador, Belize,etc. and were kind of shocked how expensive®ulated it has become there as well. We are not baby boomers and dont have a pension, have young children and dont work online. Not sure what to do and there are probably a lot of people that feel that way and the elites know it.
USA
Try Malaysia. Best value for your money compared to any other country in the world. Visit and see for yourself :)
If the Canadian government would have done their due diligence back in the early days to boost the countries birth rate , this mass immigration event could have been curtailed.
Really? You think that's can be controlled by the government? Do tell.
I think we created a culture of me, me, me and how does my significant other compare with him or her? People from different cultures have a get on with it mentality which means, “which partner will make our lives easier?” Not “which partner will impress my friends?”
@@imaginethat765 we (different cultures) also have a desire for moral goodness rather than immediate hedonism that the west is pushing as "freedom and human rights". There's a desire to improve one's self to become a better person, a better provider for the family/children, a better spouse, a better child, a better parent...
Where as in the west it's all about oppressorships; who is oppressing me? Who is limiting my freedom to do whatever degenerate thing I want? Blame the government, blame systems, blame white people, blame men, blame everyone but themselves.
@@ysf-d9i 💯% agree with you. Very well articulated.
@@imaginethat765 It is probably true. The glorification of Froyds ideas and the drug culture that gave way for dissolution of family values was the pitfall of western culture.
Planned my exit 12 years ago. Still fighting to stay here. We have a treasonous Government at the moment. Many friends have already left and prospering now.
I refuse to invest in Canadian companies. I won't touch them.
Is that because of taxation or productivity? Interested to know.
One can sell Canadian companies short keeping in mind the U.S. stock market today is the most overvalued of all times. I wouldn't sell the gold or silver stocks short as the U.S. dollar should fall from here on in.
@@TheVancouverLife Canadian companies could go bankrupt if the government ever stops protecting them from competition.
good to see people talking about uncontrolled immigration and its downsides
Thanks for tuning in. Uncontrolled is the right word, don't get us wrong - we're a nation of immigrants - but you can't have everything all at once. It puts too much stress on the local economies and shifts the demand and supply curve.
@@TheVancouverLife Oh spare us the narrative please, it's been almost 200 years since Canada became a country, it's time you accept the fact that your country is a WHITE, EUROPEAN NATION built 200 years ago with WHITE EUROPEAN ideals and principles, as a skilled immigrant nothing makes me shiver more than hearing a white european Canadian say ridiculous things like that, seriously stop it. What your politicians have done to your nation in the past decades is nothing short of deplorable.
Just for your information, both your "native" people and my "native" people (South America) came from Asia millennia ago, that makes EVERYONE in America an immigrant by that definition, so it's dumb to be stuck on that idea. Go ask a Colombian or an Argentinian if they're a "nation of immigrants", you'll get a punch to the face and deservedly so.
Immigration brings in skilled individuals, its the influx of refugees and asylum seekers that are the problem.
Ozzie here- don't feel alone Canucks. Our stupid politicians are in competition with yours to head our country down as fast as possible also. Get some physical silver while you can.
Shall we all head to Europe?
@@TheVancouverLife EU even more socialist and delusional. Out of the slowly boiling pot into the fire
Europe? Most socialist place you could pick
Greetings to our Commonwealth brothers down under. I don't know if you're a republican, so I hope I don't offend you when I say GSTK.
@@mosquitobight greetings across the pond . If I knew what the abbreviation was ? Anyway I dislike all politicians. I think they are all closet communists and not one statesman among them. It is only we " the aware" who are not doomed, who have our own row boat on the Titanic .Merry Christmas
Yup, i left. Canada should merge with usa, canadians would get free travel/work visas and america gets the resources
that is the only end game eventually!
I am working whith 30 Filipinos and 5 Africans for 6 years now.
2/3 of thems want to return in their country in a few years. They will be millionnaire and be kind of rock stars in their country. They are here because USA did not accept them. They are not interested to integrate, speak very basic English, do not know our culture, love Trudeau because he permits them to live here.
They vote for him because he is a god that gave them $$$.
In 5 years, they will be gone, according to them, and be back in their country or if by chance they are accepted in USA.
I left early last year to the US via an L1, i guess ill be in the 2023 stats. Frankly, I regret not going years ago.
Ive advanced more in a year here vs many years in Canada. The salaries and career opportunities are much better. I get paid more and pay less tax. Infrastructure is better, weather is better, much more to do here.
I'm scratching my head as to why I waited until my 30s to leave.
@@aal2206 same, but I left just before I turned 40!! Not one regret. Just Do It!
Lost its luster long ago! 41 million is tiny...just go to international cities 10 m plus in a city.
I rememeber when I went on a visit to Vancouver and the taxi driver asked me if I was surprised by the size of the city... I couldn't hold back my laughter, Mexico City's 2024 population is now estimated at 22M and even with that many living in the same city, the housing market is still not as crazy as in Vancouver.
yes , everybody is talking about population because they are brainwashed. for years they lived with tiny population and did not care really what the hack their country was about or what was happening.They are still do not have any idea where the country is taken. They all blame population...
@@TheMotArt BC west of the Rockies is mostly mountains, there are just a few narrow river valleys where you can build, but at the expense of taking land from the fruit growing industry. The northeast corner is the coldest, rockiest part of the prairie, basically little Alberta. Then the treeline, and the Canadian Shield underneath.
And it’s f*cking cold and depressing
That s the main point. Kanata became unaffordable place to live. People are cold and now they are getting poor, living at best paycheck to paycheck. Totally depressing country.
Go change the name from canada to india one day
Its India. Canada might ad well be declared as another Indian province
I'm 61, retired, born and raised in Canada and have lived there all my life. Same with my parents and grandparents. I'm looking at finding a way to get the hell out of this benighted country. Politcians don't give a fuck and seem to be bent on breaking all Canadians. Don't know where I am going to go, but I figure almost anywhere has to be better than here. Never imagined at any time in my life that I would be forced to consider leaving.
Canada needs to speculate less on these wacko industry ideas and more on the local housing shortages.. especially for the poor. These people aren't even as hard to maintain as 95% of people in this world, yet hotels and nearby apartments can't give them a toilet and a bed for a night? What's next, AirBnB hotels, targeting homeless people on television? Is the government really just gonna let the private sector do something about it, rather than ever get seriously involved?
How can can this be happening?😊
Good show, good info. Thank you guys !
Thanks for tuning in! We appreciate it.
It’s losing its lustre because you actually have to compete for a high quality of life. You’re in a difficult position without a good education and credentials thereafter. Gone are the days where 60 to 75K got you a small house, car and vacation time. Big cities in Canada always had an inferiority complex and wanted to play with the big players. Well, congratulations…every big city is in “the show” and that has to include high end housing at ridiculous prices, or crappy housing at slightly less expensive rates. Congrats people…you did it to yourselves. Unforced errors at its finest!
Ever since 2010 Vancouver Olympics when we were on the world stage I feel like its never been the same. Im not saying its totally bad, it just benefited some and vice versa for others
Not only that if you're white you never get the job anymore due to companies being accused of race discrimination. This is the reason productivity keeps going lower as the third world workers supplant the Canadian workers.
@@Plumber60423Expo86 in Vancouver kick started the Foreign buyers rush for properties in the run up to Handover in HK in 1997.
Can I buy a condo in Vancouver as a Taiwanese? Will I need a citizenship or similar?❤
Canada does have a foreign buyer ban in effect until 2026. To be able to purchase a home in Canada, you will need your Permanent Residency status. There are a number of exemptions to this ban which you can view here: laws-lois.justice.gc.ca/eng/acts/P-25.2/page-1.html
FJT
The one thing Canada still has going for it is a great climate.
diversity vs. quality!
There's no summer here and the sun hardever shines so get out while can
There's no Canadians, either look around.Go to the airport, go to all the businesses.Government only watch criminals in canada
They own the job market
I'm glad there is less foreign money coming in and making it unaffordable for Canadians, especially Vancouverites. Who needs another minimum wage employer? Corporations are addicted to slave labour and no environmental regulations in resource extraction, so why would they come here to pay living wages? I'm still waiting for the population to drop in BC. We grew by 178,000 in 2023. How do we build houses, schools, hospitals fast enough? Were do the doctors, nurses, teachers etc. come from. A 20% correction is what's needed.
Homes in Vancouver are only built for the Chinese unless any of the Canadians have a spare 5+ million dollars in their pockets to pay for them with.
🇨🇦👎👎👎 state monopoly & political oligopoly ☕️
Naw player, its just you thats broken, looking for more broken things to feel better about yourself
Tell that to Asias in Vancouver. They're still buying.
People like you contributed to that 😂
How so?
Lower Mainland is out of touch ,even though nothing special here. Rain, more rain and rain again with "skid row" on top of it?
Fentanyl is now more popular than ever in Vancouver. Most use their food money to buy drugs instead. The streets of Hastings Avenue would be full if not for the drug overdoses each day.