Show Notes
The numbers say the market is merely slow. Everyone living in it says something worse. BCREA Chief Economist Brendon Ogmundson sits down this week with Adam & Matt to break down a first half that somehow undercut an already historic low. From the string of supply shocks driving rates up, to move up buyers single-handedly propping up the market, to the province's $1.5 billion bid to scoop up thousands of unsold condos, this wide-ranging conversation gets to the heart of why the gloom won't lift & what finally turns it around. So what word does a chief economist reach for? Why are first time buyers disappearing just as affordability improves? And when does the malaise finally lift?
More from Vancouver Real Estate Podcast
'Remember when' may be the lowest form of conversation, but Vancouver sellers still can't resist quoting what their neighbour sold for in 2021. Back then, buyers were terrified of missing out. Now the anxiety belongs to anyone looking to sell. Zonda VP of Product Jon Bennest & VP of Advisory Stefan Greiner sit down with Matt this week to explain how the pendulum swung so hard, and why a region with ZERO new tower launches this year still can't clear its inventory. From a never-lived-in condo going for nearly 20% less than its twin did a year ago to West Side tenants playing rental buildings off each other for better deals, the leverage has clearly changed hands. Why can't developers simply slash their way out? Are we watching a permanent shift away from ownership? And could the provincial election flip the mood? Time to stop talking about the good ol' days and start listening!
Four years ago, he helped put Ken Sim in the mayor's chair. Now he wants him out of it. Vancouver Liberals mayoral candidate Kareem Allam sits down with Adam & Matt to explain why he walked away from ABC and why he's staking his entire campaign on one goal: bringing back the young people fleeing Vancouver. He pulls no punches on a building code he calls a barrier to new housing, density that has outrun the parks & pools neighbourhoods were promised, and a plebiscite question he says amounts to building a prison downtown. Is the property tax freeze really a fee hike in disguise? Who does Kareem say is actually running the drug trade on our streets? And should UBC be folded into the municipality? Don't miss this before you head to the polls.
Vancouver's presale market hasn't just slowed, it has nearly vanished, & that will shape what gets built here for years to come. Recorded live at REIBC's Real Estate 360, Wesgroup Properties President & CEO Beau Jarvis sits down with Adam & Matt to explain why government, not weak demand, remains his industry's biggest obstacle. With civic & provincial elections a week apart, Beau pulls no punches on David Eby's proposed levy on unsold homes, why builders are accepting losses to keep their teams employed, and why DRIPA & rising interest rates add even more risk for the capital that funds new projects. Could a Conservative victory change public sentiment? Should foreign buyers be welcomed back? And how much longer can developers hold out in conditions this tepid? Don't miss this one!
The fall market is already crawling, and now a snap provincial election and a surprise tax on unsold condos have dragged BC housing into the political crossfire. In front of a live audience, BCREA Senior VP of Government Relations Trevor Hargreaves sits down with Adam & Matt to unpack Premier David Eby's timing, why developers keep getting cast as villains while many struggle to stay afloat, and how rapid densification without schools or hospitals to match could strain growing neighbourhoods. Can a party on its third leader this year stay disciplined long enough to win? Can Ken Sim's crime-focused pitch rescue his bid for a second term? And could an Australian-style approach to foreign investment get stalled projects moving again? Don't miss this one!
For many Vancouverites, this upcoming civic election is about one thing: street disorder. Councillor & Green Party mayoral candidate Pete Fry sits down with Adam & Matt this week to lay out his approach, from supportive housing & overdose prevention sites to the tiny shelters he's seen succeed down the coast. The longtime Strathcona resident also shares what a well-run SRO on his own block reveals about making these buildings work. Is East Van shouldering more than its share of the region's hardest problems? What would it take to get people out of shop doorways for good? And where does involuntary care fit into the solution? Don't miss this ahead of October's vote.