Richmond Condo News

Vancouver West - South Granville Homes

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Sat, 13 Feb 2010 23:15:46 -0600

South Granville homes in Vancouver West are sought after by wealthy home buyers. South Granville is a prime Vancouver west side neighborhood and has easy access to other municipalities in metro Vancouver. Granville Street, Oak Street and Cambie Street provide easy commute to Richmond and downtown Vancouver.

The boundary for South Granville as generally used by the Real Estate Board of Greater Vancouver is south of 33rd Avenue, east of Oak Street, West of West Blvd and north of 57th Avenue.

Homes located in the adjacent areas like Shaughnessy, Kerrisdale, Oakridge, South Cambie and Marpole appeal to different home buyers. You can view homes for sale in other Vancouver Westside neighborhoods here.

South Granville neighborhood

South Granville neighborhood is charatherized with matured trees, and some of the most beautiful custome-built homes in Vancouver. Generally, the lot size for South Granville homes may range from the smaller 7,000 to over 18,000 sq ft.

Home prices in South Granville are one of the highest in Canada. Detached home prices here range from the low $1.00 to over $5.70 million. Click here to view homes listed for sale at South Granvile, Vancouver

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Vancouver has world's least affordable housing

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Sat, 13 Feb 2010 20:54:20 -0600

Below is a CTV.ca nes report:

A new report says Vancouver has the world’s least affordable housing, and blames land-use policies designed to limit urban sprawl.

The Demographia International report released Monday looked at 272 metropolitan markets in Canada, the U.S., the U.K., Australia, New Zealand and Ireland and calls on governments to allow more housing to be built on the fringes of urban areas to help keep costs down.

The report also classified Toronto and Montreal as being severely unaffordable, and seriously unaffordable, respectively.

But Vancouver was deemed the most unaffordable market in the world last year when median housing sale values were compared to median household incomes.

Read the full story here.

Vancouver West Homes

Some of the most expensive homes in Canada are located in Vancouver West. Only the rich and wealthy can afford multi-million dollar homes in Shaughnessy, Point Grey, South Granville and other surrounding neighborhoods. You can view homes by price range using the links below:

Below $800,000	$800,000-$1,000,000	$1,000,000- $1,500,000	$1,500,000-$2,000,000
$2,000- $3,000,000	$3,000,000-$4,000,000	Over $5,000,000

Vancouver Real Estate - Buy or Sell?

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Sun, 03 Jan 2010 13:29:20 -0600

Can one times the real estate market, and make money by following the monthly supply/demand for homes?

The answer is yes.

Real estate follows the basic economic principle that home prices are affected by market supply and demand. As can be seen from pricing trend and data here, home prices are inversly related to the changes in the supply/demand or list/sale ratios.

Following the pricing indicator

It is generally accepted that a ratio of 6 is neutral, or the market is considered to be in balance. There is no pricing pressure for home prices to move up or down. When supply exceeds demand, the supply/demand ratio rises above 6, resulting in home prices falling. The reverse happens when the ratio falls below 6, signifying stronger demand than supply, resulting in home prices going up.

Supply/demand ratio for Richmond

Home sales activities in Richmond contribute to the overall Greater Vancouver pricing trend as shown above. The list/sale ratio below showed a clear trend as whether home prices will move up or down.

Month	Total Active Listing	Av. 3 Month Sales	List/Sale Ratio
FEB/08	1320	309	4.29
MAR	1545	359	4.30
APR	1830	423	4.33
MAY	2075	438	4.73
JUN	2335	411	5.68
JUL	2495	352	7.09
AUG	2430	270	9.00
SEP	2530	233	10.86
OCT	1540	196	12.96
NOV	2495	164	15.21
DEC	2080	126	16.51
JAN/09	1750	101	17.33
FEB	1820	139	13.09
MAR	1685	211	8.97
APR	1673	321	5.87
MAY	1550	421	3.68
JUN	1540	503	3.06
JUL	1416	570	2.48
AUG	1410	564	2.50
SEP	1435	560	2.56
OCT	1405	531	2.65
NOV	1273	518	2.46

You can see from the data that the supply/demand ratio tipped over in June and July of 2008. That's when home prices falled, and reached the bottom around Jan/2009 when the list/sale ratio was at it's highest at 17.33 months of inventory. The ratio falled quickly the subsequent months, and crossed the 6 month supply ratio by April, 2009. At this point, home prices turned and gained in values due to stronger demand.

The ratio tightened further to below 3 from June, 2009 and remained around the 2,5 months ratio until today. The 15% or so drop in home prices since May, 2008 to the bottom around February 2009, recovered just as quickly by November 2009.

Future market activities and pricing trend

The above is a simple housing price indicator to follow. There are many factors influecing the supply and demand for homes. There are many economists who are sounding the alarms that home prices in Greater Vacnouver are over-valued. If you are wondering whther it is time to buy or sell, you may want to follow the supply/demand ratio to guide you with your investment decision. You can be a month or 2 ahead of the crowd by taking action before the ratio turns above or below 6.

Click the link to view Vancouver and Richmond homes currently listed for sale.

Supply, demand, and a real estate rebound

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Sat, 02 Jan 2010 14:27:34 -0600

Outlook for Greater Vancouver's real estate market for 2010 and beyond

Below is a quote by James Schouw, James Schouw & Associates, Published on January 02, 2010 in The Vancouver Sun:

"Greater Vancouver's real estate market will continue to be driven by the growing number of people that simply need homes. Speculation, the catalyst of a 'bubble', is largely absent from the market due to lingering fear from the lessons of 2008. A bubble will only materialize if overconfident developers and speculators manage to oversupply demand".

Read the full article here>.

A review on current home prices and the market fundamentals are telling us that home prices at current levels are economically unsustainable.

Housing market dynamics

The supply and demand for resale and new homes are driven by market confidence. Home prices rebound due to ultra-low interest rates, and limited supply of homes. A case in point for Richmond, B.C, showed that in November 2008, there were 2,495 homes listed as compared to just 1,275 homes listed for sale in November 2009. The supply of homes was down by half!

The market dynamics may change again when market confidence is affected by external events beyond the control of the market players. A repeat of the housing correction that happened in late 2007 may happen again when there is a loss in market confidence. When signs of a market turning south are apparent, more sellers will want to sell, accelerating the price decline.

Cheaper to rent than to own

Buyers can opt to rent than to buy when they find home ownership is not affordable. A jump in mortgage interest rates will swing buyers decision, and will result in many of them staying on the sideline. Home prices are too high at current levels, as renting make more sense to many prospective home buyers.

You can view Vancouver and Richmond homes currently listed for sale.

Greater Vancouver housing market outlook for 2010

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Thu, 24 Dec 2009 20:24:39 -0600

Can Greater Vancouver housing market go higher?

Market sustained by low interest rates

Longer amortization and low interest rates have a huge impact on home prices. With the introduction of mortgages with 35-year (from 25 years) amortization, home buyers are able to afford homes 16% higher in value. Coupled with interest rates drop from 5% range to around 3.55% for 3-year fixed rate now, home owners can afford homes 40% higher in values as compared to 10 years ago.

The above price chart for detached homes at $910,000 range shows a huge price gap between current average house value and home pricing trend line around $540,000. The above chart showed that average Greater Vancouver home price as of November/09 is 69% higher than the base-line price!

Danger of higher interest rates on home prices

If the mortgage rates are raised from current fixed 3-yr term around 3.55% to 5% or higher, home buyers will be constrained to buy homes at only around 80% of today's price. A loss of market confidence will trigger a collapse in home prices. Current rental return is generating negative cash-flow if an investor is buying a home for investment.

Rental returns as compared to home prices

From 2001 to end 2009, rental increase was in the range around 25% to 30%. On the other hand, home prices more than doubled and gained almost 135% in value. A big jump in interest rates from current 3.0% level to higher rates of 5% to 6%, will have a major impact on many home owners.

When renting is an option, home buyers may want to wait and see how the economy and interest rates play out in the next year or two.

Homes currently listed for sale in Vancouver and Richmond can be viewed here.

Richmond Real Estate - A Risky Investment

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Mon, 28 Dec 2009 22:18:38 -0600

Market confidence is the key

Market confidence is the driving force behind the high housing prices in Richmond and Greater Vancouver. The credit crunch of 2008 scared home buyers away from buying, resulting in home prices declining 15%. Rapid and successive cuts interest rates by the central Bank of Canada Canadian from early 2008 drove base-lending rate down from 4.25% to 0.25% by April 2009. Current rate stays at 0.25%. Low interest rates helped to boost demand for homes, and within a year home prices almost regained all the losses.

Month	Total Active Listing	Av. 3 Month Sales	List/Sale Ratio
FEB/08	1320	309	4.29
MAR	1545	359	4.30
APR	1830	423	4.33
MAY	2075	438	4.73
JUN	2335	411	5.68
JUL	2495	352	7.09
AUG	2430	270	9.00
SEP	2530	233	10.86
OCT	1540	196	12.96
NOV	2495	164	15.21
DEC	2080	126	16.51
JAN/09	1750	101	17.33
FEB	1820	139	13.09
MAR	1685	211	8.97
APR	1673	321	5.87
MAY	1550	421	3.68
JUN	1540	503	3.06
JUL	1416	570	2.48
AUG	1410	564	2.50
SEP	1435	560	2.56
OCT	1405	531	2.65
NOV	1273	518	2.46

Facing the inevitable - higher interest rates

How long the current low interest rates environment can be maintained is anyone's guess? By 2006, home prices in Richmond already reached an over-heated level. Buyers who purchased their homes the past 3 years will not have a large cushion to buffer them from a large drop in home prices.

Outlook for the next few years

The current over-priced market will correct sooner or later. When market sentiment turns negative, demand from home buyers will collapse. When home prices are losing values, more sellers will want to sell their homes, increaasing the supply causing a rapid decline in home prices. As shown in my earlier post, there is a large price gap between current home prices, and the break-even price point for real estate as an investment.

Real estate as an investment

At current price level, the risk of capital loss due to declining home prices is extremely high. The return on investment for a rental property in Richmond and other Greater Vancouver cities is negative. Home prices will have to decline significantly before a reasonable return on investment can be expected.

Click the link to view Vancouver and Richmond homes currently listed for sale.

Making sense of Richmond's home prices

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Sun, 27 Dec 2009 21:39:25 -0600

Why Richmond and Greater Vancouver home prices are so high?

The main driver for home prices reaching current level is ease of financing, The average family income in Greater Vancouver assuming to be around $65,000 can only afford a $325,000 mortgage (using 5% interest rate and 35-year amortization). It will appear that the average home owners can only afford to buy townhouses or condos as detached homes are out of reach.

Longer amortization and low interest rates

The availability of 35-year amortization and ultra-low interest rates allow an average home buyer to buy a home 40% higher in value, as compared to the market conditions some 10 years ago. Easy credit, financial innovation and low interest rates have now resulted in home prices reaching an un-sustainable level. See chart here>.

While longer amortization and low interest rates may account for some 40% higher in home value, the average Greater Vancouver home price around $910,000 is around 69% higher than the base trend-line price around $540,000. Theoretically, the above 2 factors help to boost average home value from $540,000 to $756,000.

Market confidence

The price difference between $910,000 and $756,000 may be attributed to buyer confidence. If this is the case, market confidence helps to lift the average home price by 20%. When home buyers, investors and speculators see that year after year, their homes increase in value, their confidence help to support the market. Those home owners who entered the market prior to 2004, are well cushioned and can weather a price decline of 30% or more.

What happens if interest rate rises, and market confidence collapses?

When the market sentiment turns and confidence disappears, home sellers will swarm the market. Home buying will slow resulting in home prices declining. The important ratio to watch is the supply/demand ratio or "month of inventory". A reversal in the current ratio around 2.5 months to double home inventory to 5 months supply or more, will be a clear signal for a decline in home prices.

Duration of price decline

Over the next few years, mortgage payment will go up due to higher interest rates, and rental rates may decline due to the increase in rental stock. Declining home prices and higher mortgage cost will result in more investors wanting to sell their rental properties. A correction in home prices may take many years to reach bottom. The extend of the price decline could be as much as 35% or more.

Click the link to view Vancouver and Richmond homes currently listed for sale.

Richmond housing market analysis

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Sat, 26 Dec 2009 19:45:38 -0600

Below is an analysis on Richmond housing market and an attempt to establish the value of a home in relation to it's economic return as an investment.

What's the real value of a Richmond home?

The real value of a home is when the rental income can cover the cost of mortgage payment, property tax, maintenance, etc. When a market analysis (using 5% interest rate and 35-year amortization) is done comparing home values and their returns on investment, home prices in Richmond are found to be unrealistically high as shown below:

Home value	Market rent/mth	Cost of investment*	Return per month	Break even value @ 5%	Break even value @ 2.25%
$250,000	$1,200	$1,523	-$323	$185,000	$270,000
$400,000	$1,600	$2,356	-$756	$250,000	$363,000
$630,000	$2,000	$3,469	-$1,469	$360,000	$521,000

*computed at 5% p.a interest rate and 35-yr amortization, plus property tax, maintenance, etc.

Cheaper to rent than to own

The above analysis shows that it is cheaper to rent than to own except at the lower price range around $250,000 and when the interest rate is at 2.25%. As shown above, at historical interest rates around 5%, it is cheaper to rent than to own.

Generally, renters may quit renting and decide to own their homes when the cost of ownership is not more than 30% above their rental payments. As shown above, renters may opt to continue renting, until home prices decline significantly.

Break-even return on investment

Home prices in Richmond (and metro Vancouver) are much too high and cannot be justified as shown on the break-even analysis above. The lofty home values can be attributed to buyers who are willing to accept low or negative returns, while making gains on capital appreciation. Home prices at current level in Greater Vancouver is not sustainable. As can be seen from the illustration above, rental returns are not able to sustain current home prices.

You can view the metro Vancouver housing price chart here. The correction in 1994 took 4 years to bottom out in 1998 and another 5 years to recover to the 1994 level .

Market confidence & low interest rates

The critical factors affecting home prices today are buyer confidence, low interest rates and low supply of homes. The market dynamics can shift over-night with a change in market sentiment if interest rates rise significantly. Current low interest rate environment is not expected to last long. Eventually, higher interest rates will result in the housing market making a correction. A balance market will come about when the rental return from the investment is more in-line with other investments.

When renting is an option, home buyers may want to wait and see how the economy and interest rates play out in the near future.

Click the link to view Vancouver and Richmond homes currently listed for sale.

Negotiating for a commission discount

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Sun, 20 Dec 2009 18:16:41 -0600

Real estate commission in B.C.

When a home owner decides to sell their home, they often agree to pay their chosen salesperson / real estate company a commission based on a percentage of the selling price of their home. The sale commission is specified in the Listing Agreement when a home is listed for sale by a home owner. In British Columbia, the commonly used commission structure is based on 7% on the first $100,000 and 2.5% on the balance of the selling price. Other real estate companies may used 6% for the first $100,000 and 3% for the balance of the sale price.

Home Price	Commission Cost	As % Home Price
$500,000	$17,000	3.4%
$1,000,000	$29,500	2.95%
$2,000,000	$54,500	2.725%
$3,000,000	$77,500	2.583%

Sale commission is negotiable

While majority of the home sellers accept paying the above commission fee structures when selling their homes, some may choose to negotiate on listing and paying their homes at lower commission rates. There are discount or flat-fee brokers willing to provide full MLS and real estate marketing services comparable to the traditional real estate companies. As in any business transaction, a home seller should firmly establish the level of service they will be receiving and the fees they will be required to pay.

How much should a home seller pay?

If you are looking for a good Realtor who is prepared to negotiate with you for a fair commission to sell your home, you should check with your local network of Realtors. Find a Realtor who is willing to work as a "discount broker" and negotiate with you on the sale commission. Make sure you are satisfied with the terms of the service, and you are getting the full service at a discount.

You can use the links here to research homes for sale in Richmond and Vancouver.

Buyer Agent for Vancouver & Richmond, BC.

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Wed, 23 Dec 2009 00:32:24 -0600

Buyer Agent for Vancouver & Richmond, BC.

Majority of the homes sold in Canada are done through the MLS system, involving 2 Realtors. When the seller's Realtor is also the buyer's Realtor, the loyalty of the Realtor is with the seller. You are in a disadvantage position if you are buying a home with "no agency representation" or through a "limited dual agency" arrangement.

Myth: you can get a better price

Some home buyers are under the impression that they stand to benefit when they are not using their own Realtors to represent them. They assume the Realtor will pass on the buyer agent commission saving to them.

This is a myth, as there is no way anyone can find out whether you get a better price, or a buyer agent can help you negotiate a better price. The fact is that without a buyer agent, you are at a disadvantage. You may not know if you are paying too much for the home you are buying.

Why you should use your own Buyer Agent?

Your Realtor has a "client-agent" relationship with you. You benefit by:

- your agent is working with your best interests in mind
- guide you through the home buying process and help you with financing where required.
- save you time by showing you homes that meet your requirements.
- you are provided with competitive market data on similar homes and their selling prices.
- property value trends, the neighborhoods and future developments(good or bad).

For more information on homes for sale in Vancouver and Richmond, you are welcome to contact me at 604-721-4817 or email me.

Richmond BC Warehouses - Sale & Leasing Opportunities

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Tue, 26 Aug 2008 12:37:32 -0500

Richmond BC warehouses are in demand by business owners and investors.

The market for warehouses and commercial and Industrial properties in general are very different from residential properties. The capital appreciation for such properties is keeping pace with the rate of inflation. And in areas of high growth, the appreciation in property values is much higher.

Warehouses that are built to cater to business owners are designed to provide a show room at the front and warehouse space at the back of the building. Most also have office space on the mezzanine floor or second floor just above the showroom.

The smaller Richmond warehouses have between 1,500 to 1,800 sq ft on the ground floor and between 500 to 750 sq ft on the mezzanine or second floor.

The market activities on warehousing are centered on the sale and leasing of warehouses to business corporations and business owners.Business owners prefer to own their own premises if ownership makes more sense to them.

Business corporations that are established and profitable will want to buy their own business premises rather than continue to pay rent for their warehouses. Click here to view some richmond warehouses available for sale or lease.

Warehouse Financing

Unlike residential properties, the financing and capital appreciation of industrial buildings and warehouses are different from residential properties. For some real estate investors, there are certain aspects of commercial and industrial property investments that are appealing to them.

If you are interested to have more information on strata warehouses or industrial buildings for sale or for lease in Richmond, you are welcomed to contact James Wong at 604-721-4817.

購買或出售温哥華西區房地產?

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Thu, 22 Oct 2009 22:31:18 -0500

温哥華西區房地產

考慮購買西區房地產？

當搜索您的夢想家園，您要的充分了解房地產市場。為了幫助您完成這一過程，以下因素, 需要仔細考慮：

-您的要求,是否能夠滿足您的生活方式需要？
-您在未來3至5年需求？
-您的預算和家庭開支是多少？

這些問題解決後, 我們將與你配合, 找你的夢想房家。

賣西區房地產的思考？

我們可以為您提供最新房地產資料，市場趨勢 - 有利的賣方或買方，融資環境, 和其他競爭賣家的房地產。這些是非常重要的因素, 讓你的房產快速和最佳的價格出售。

我們將以最大銷售計劃, 和其他房地產經紀人和買家, 推建您的房家。在整個銷售過程中，我們將與您溝通，讓您知道您的房家營銷進展。

温哥華西區獨立屋

Vancouver Westside Detached Homes

Buying and Selling a home is a complex undertaking. Hiring a full service professional Realtor will help save you time and money.

Your REALTOR® is highly trained, bound by ethical business practices

You are protected legally and insured to be treated fairly by your REALTOR®

You have access to exclusive Multiple Listing Service®

We will determine your needs and work with you buying or selling your home.
We will guide you every step of the say to make your real estate experience stress-free and a pleasant one.

Below you can research online Vancouver westside detached homes that are listed for sale on the MLS System:

Kitsilano Detached Homes

Point Grey Detached Homes

University VW Detached Homes

Arbutus Detached Homes

Dunbar Detached Homes

MacKenzie Heights Detached Homes

Quichena Detached Homes

South West Marine Detached Homes

Shaughnessey Detached Homes

Kerrisdale Detached Homes

South Granville Detached Homes

Southlands Detached Homes

Oakridge Detached Homes

Fairview Detached Homes

Cambie Detached Homes

South Cambie Detached Homes

Marpole Detached Homes

80万以下	80 - 100万	100 - 150万	150 - 200万
200 - 300万	300 - 400万	500万以上

Vancouver Home Search

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Tue, 25 Aug 2009 23:25:44 -0500

Vancouver Home Search

The internet has greatly expanded the search for homes by home buyers and sellers. You can find a list of Vancouver homes for sale via the MLS system in Greater Vancouver. Google Map Search enable geographical search by neighborhoods. By entering the municipality and your search criteria, and when the "search button" is pressed, you will see a list of homes for sale.

Thninking of buying a Vancouver home?

Good homes are selling fast, and by the time you find a suitable home, it may already have an accepted offer from another buyer. Working with a Buyer Agent helps greatly in finding the home your want to buy. You can benefit from the "first move advantage" of viewing the new listings and make your offer before other buyers.

Vancouver Home Search Online

You can use an online mls search site like RealEstateRichmond.com and Vancouver-Realestates.com to search for homes listed for sale on the MLS system. You may choose to find a Vancouver Realtor and work with your Realtor to look for the home that is right for you.

For neighborhood information, and recent activities in a Vancouver neighborhood, you will need to contact a local Vancouver Realtor for guidance. You will get the best results working with a Buyer Agent who has an intimate knowledge on new listings in the market.

BC Real Estate Market - What To Expect for 2008?

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Sat, 29 Dec 2007 14:26:36 -0600

BC Real Estate Market for 2008

Unabated consumer spending for 2007 has been fueling the US economy inspite of the problems faced by the US housing market and liquidity crunch experienced by the credit and financial markets. If consumer confidence further deteriorates, the decline in house prices could accelerate causing sharper drop in home prices.

As the U.S. economy decelerates, pummeled by the aftershocks of the worldwide financial crisis, consumers have been hit from every direction: Unemployment has spiked, and will continue to rise, economy unwinds and continues to work through the aftershocks of the global credit crisis, consumers have been beset on all sides. Unemployment is up, home prices are down, and credit is hard to come by.

Nouriel Roubini: I fear the worst is yet to come

You are welcome to post your thoughts on how the slow down in the US economy will affect the real estate market, and what we can do to position ourselves as Realtors, Mortgage Brokers, Appraisers, etc.

Canadian Housing Market Outlook for 2008

James Wong Richmond Realtor (Sutton West Coast Realty, BC) — Fri, 15 Feb 2008 11:44:14 -0600

New Sky Train connecting Vancouver to Richmond City and Richmond International Airport

After 5 years of surge in housing demand and price gains, experts are projecting a more moderate housing market for 2008. The following article was published on Tuesday, February 12, 2008 by Alia McMullen, Financial Post.

Housing affordability is likely to improve this year as house-price growth eases and falling interest rates make mortgages cheaper, economists say.

Michael Gregory, senior economist at BMO Capital Markets, said housing affordability was becoming an increasingly important issue in some Canadian cities, with house prices jumping at "unsustainable" levels amid a surge in population-driven demand, a strong jobs market and relatively low mortgage costs.

Rishi Sondhi, economist at RBC Capital Markets, said housing should become more affordable as house-price gains ease and interest rates fall, with the Bank of Canada expected to cut interest rates again in March following a 25-basis-point cut to 4% in January.

Read the full report here…

Greater Vancouver has the highest high prices in Canada, and the less affordable. One of the biggest culprits to the problem is "lack of land" for housing! This is an irony as Canada has plenty of land, but artificially "frozen" and not available to be used for housing. There are many housing critics arguing for the "freeing up" of more land for housing developments and better-planned high-density developments along the transit lines. Consumers are paying for the "Agricultural Land Reserve" policy (obsolete? or urgently needed to be revamp?) freezing land parcels that are presently designated as "agricultural land".

To many critics this is a mis-allocation of valuable resources resulting in artificially high land costs. The failure of the Governments to take bold action and lack of leadership to solve the housing affordability problem will exert economic toll on the future growth of Greater Vancouver.

You are welcomed to post your thoughts and comments on how the housing affortability problem can be solved.