Canada’s multifamily real estate market is facing significant challenges. From a lack of housing supply to inflationary pressures and regulatory hurdles, property managers and Real Estate Investment Trusts (REITs) are grappling with a multifaceted crisis. The pressure to meet growing demand is becoming increasingly difficult to manage, particularly in major cities. Let’s dive into the various obstacles and solutions that define this complex landscape.

The Supply Crunch: A Looming Crisis in Canada’s Real Estate

Demographic Shifts Fueling Demand

Canada’s population is growing rapidly, driven in part by immigration and the sharp rise in student visas. According to experts like Josh Pillsbury, the country simply does not have enough housing to meet…

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If you've been considering buying a home in North Vancouver, now might just be the perfect time to make the leap. With a combination of favorable market conditions, lifestyle benefits, and future growth potential, North Vancouver has become one of the most desirable places to live in the Greater Vancouver area. But why is this the case? Let’s dive into the reasons that make buying a home in North Vancouver such a smart decision right now.

Current Market Conditions

Real Estate Trends in 2024

The real estate market in North Vancouver is experiencing a unique blend of stability and growth. In 2024, the market has seen consistent demand from buyers, which has helped keep prices steady. Unlike the dramatic fluctuations seen in other markets, North…

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Are you on the hunt for the perfect family home? Well, look no further! Burnaby offers some of the most beautiful, family-friendly homes in British Columbia. Whether you're looking for peaceful cul-de-sacs or bustling neighborhoods near top-rated schools, this vibrant city has something for everyone. In this guide, we’ll explore the best family homes for sale in Burnaby and what makes them stand out.

Why Choose Burnaby?

A City of Vibrant Communities

Burnaby is a city full of life and charm. It offers a diverse range of communities, from peaceful residential areas to vibrant urban centers. Whether you're raising toddlers or teenagers, Burnaby’s blend of quiet suburban streets and exciting urban activities will suit your family’s lifestyle…

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Vancouver is a city that pulses with life, especially during the weekends when various festivals and events bring people together. If you’re looking for exciting things to do in Vancouver this weekend, you’re in luck! This guide highlights five must-see festivals happening in the city that promise fun, culture, and unforgettable experiences. Let’s dive into what’s happening this weekend!

1. Vancouver International Film Festival

Overview

The Vancouver International Film Festival (VIFF) is back, showcasing a diverse selection of films from around the globe. This festival is a celebration of cinema, featuring everything from thought-provoking documentaries to captivating dramas and exciting short films. With numerous screenings and events, VIFF…

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The Canadian government has taken a major step toward a sustainable future by introducing the Canada Green Buildings Strategy (CGBS). This strategy is more than just a plan to reduce greenhouse gas (GHG) emissions; it’s a blueprint to help Canadians save on their energy bills, create jobs, and build a stronger economy. Let’s dive into what this strategy is all about and how it will impact Canadians.

What is the Canada Green Buildings Strategy?

At its core, the CGBS aims to improve energy efficiency in Canadian homes and buildings, which is crucial as buildings are the third-largest source of GHG emissions in the country. The strategy focuses on retrofitting existing buildings and ensuring new constructions are energy-efficient from the start. By…

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Are you on the hunt for the perfect townhouse in Vancouver? The city’s real estate market is brimming with opportunities, and if you're looking for a stylish, functional, and spacious home, townhouses are a fantastic option. From the Cambie Corridor to the scenic Fairview slopes, Vancouver offers a wide range of beautiful townhomes that blend modern design with everyday practicality. Let’s take a closer look at what the market has to offer and why a townhouse in Vancouver might just be the home of your dreams!

Why Buy a Townhouse in Vancouver?

Vancouver’s housing market is known for its diversity, and townhouses are becoming increasingly popular for many reasons. Not only do they offer more space than a condo, but they also often come with outdoor…

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Vancouver is known for its vibrant weekend culture, filled with amazing shows, festivals, and experiences. Whether you're into comedy, theater, or family-friendly fun, this weekend's lineup has something for everyone. Let’s dive into some of the top events happening in Vancouver and why you shouldn’t miss out!

The Play That Goes Wrong

Overview

One of the most highly anticipated shows this weekend is The Play That Goes Wrong. It's a hilarious mix of farce and physical comedy that will have you laughing out loud from start to finish. Set around a clumsy group of actors putting on a murder mystery, the production is packed with unexpected mishaps and absurd moments. If you're a fan of slapstick humor, this is the show for you!

Performance…

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The Canadian government recently announced significant changes to mortgage rules, aimed at increasing homeownership accessibility. While these changes are expected to spark greater demand among potential homebuyers, experts caution that supply challenges continue to plague Canada’s housing market.

Overview of Ottawa’s Mortgage Rule Changes

In an effort to address the growing housing crisis, Ottawa introduced mortgage rule changes set to take effect in December. These reforms include raising the price cap for insured mortgages and expanding 30-year mortgage amortization options. These are the first major mortgage reforms in over a decade.

Higher Price Cap for Insured Mortgages

One of the central features of the new mortgage rules is the…

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National home sales increased in June following the Bank of Canada’s first interest rate cut since 2020, and activity posted another slight gain in August on the heels of the second rate cut in late July. Still, the bigger picture appears to be a market mostly stuck in a holding pattern. Home sales recorded over Canadian MLS® Systems increased by 1.3% month-over-month in August 2024, reaching their highest level since January and their second highest in over a year.

“Despite some fledgling signs of life to kick off the long-awaited monetary policy easing cycle, Canadian housing market activity still looks to be stuck in the same holding pattern it’s been in all year,” said Shaun Cathcart, CREA’s Senior Economist. “That said, with ever more friendly…

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After years of skyrocketing prices and intense bidding wars, the Canadian real estate market is finally cooling off in 2024. This year marks a shift towards a more balanced market, where neither buyers nor sellers have the upper hand. For both seasoned investors and first-time homebuyers, understanding this shift is essential for navigating the current real estate landscape.

What is a Balanced Market?

A balanced real estate market is one where the supply of homes for sale meets the demand of buyers. In other words, no party has a distinct advantage. In contrast to a seller's market, where buyers are forced into bidding wars, or a buyer’s market, where homes sit on the market for months, a balanced market is more stable and predictable.

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