January: Steady market as Canada faces economic uncertainty
Who knew 2025 would bring such uncertainty so quickly? Despite the pause on tariffs, the country is on edge, with measures of economic uncertainty spiking to levels we haven’t seen in decades.
Source: Trevor Tombe
Just a few weeks ago in our annual predictions thread, I figured the market would strengthen a little powered by lower rates, with some upward pressure on prices. The median forecast was a bit more bearish, with detached prices projected to be end the year at $1,150,000 (up 1% from 2024), with condos flat at $540,000, and sales up 4%. As far as activity in January is concerned, it came in reasonably strong with sales up 24% from last January, new lists also up 22%, and properties generally selling at a reasonable pace for somewhat higher prices than this time last year (with the usual proviso that month to month medians are noisy, and that’s especially true in slow-sales months like December and January).
Sales continued right on the path they’ve been on since rates dropped in the fall, with our somewhat lower interest rates bringing sales back to around the middle of the historical range after spending 18 months near the bottom.
And in case you think that’s just prime detached houses selling while everything else languishes, that’s not true. Condo sales are fine and also roughly at the midpoint of the range.
At 5.7 months of inventory for the market as a whole, we’re at a level that has historically been followed by modest price increases of around 2-5%. That’s a little tighter than this time last year, when we were at 6.3 months of inventory.
On a seasonally adjusted basis, townhouse sales declined a little and because there’s few of those sales every month, it’s a little hard to tell on the chart below if levels have changed much. Meanwhile condo sales are down a bit and detached up a bit, but both clearly above recent lows.
Inventory is still not breaking out either upwards or downwards. It’s up 12% from this time last year, but the underlying inventory trend really hasn’t moved since mid last year. This is where seasonal adjustment is really helpful, because of course raw inventory levels vary widely throughout the year.
Why is there no inventory drawdown when sales have been substantially stronger since last fall? Simply because of new listings, which are well above what we’ve seen in recent years. New lists are coming to the market at a greater pace than we’ve seen since 2012. Of course many of those are relists from properties that failed to sell last year or the year before, but at least it’s giving buyers some choice.
Not a huge amount is happening in pricing, though condos have recovered from their fall slump in terms of selling price relative to assessment. Note this is relative to 2024 assessments, not the new ones. In January, the median sale of all property types basically was at assessed value.
Despite the global uncertainty, I haven’t changed my outlook on the market for 2025. It still looks like it’s in decent shape, with more buyers offset by healthy new listings, keeping it overall on the somewhat warm side of balanced. The tariffs are on hold for the time being, but it seems pretty clear that we’re in for 4 years of turmoil. Far too early to say what impact that might have here, but we’ve already created a pretty volatile environment with huge swings in immigration policy, and adding uncertain trade relationships isn’t going to help. If we get tossed into a recession the central bank could crash rates again which might actually add demand, or it could spike unemployment and cut demand sharply. I’ll stay on the middle road and predict we’ll have a fairly calm year in Victoria’s market.
That’s quite different than what’s happening in the rental market which is weakening sharply. If you’re a rental developer, I’d suggest doing your proformas at 10-20% below what you think are current market rents and see if they still work. I wouldn’t be at all surprised if we hit that this year or next.
New post: https://househuntvictoria.ca/2025/02/10/supply-side-update/
The chaos and uncertainty of the tariffs is not welcomed by many US companies either.
e.g. “ Nick Pinchuk, the CEO of the toolmaker [US based] Snap-on, compared the turmoil to “being on Space Mountain at Disney World.”
https://www.profarmer.com/news/policy-update/trumps-tariffs-are-adding-some-still-think-they-are-just-leveraging
(As most people know, Space Mountain is a roller coaster ride in the dark…)
The Trump threats seems to have galvanized the francophones and anglophones in Canada. The common threat of Trump seems to be bringing Canadians together.
Perhaps we will be able to reduce interprovincial trade barriers, but we will also have to solve provincial subsidies, marketing boards, and professional trade certifications. It’s a complicated matter. But the will to do so seems to be closer than ever before.
Month Feb Feb
Year 2025 2024
Net Unconditional Sales 136 470
New Listings 308 1,088
Active Listings 2,408 2,364
Running about 270 more active listings versus last year.
Who said anything about a vote?
Quebec joining the US is very unlikely to get French as a second official language, any form of transfer payments, and most Quebec citizens are a LOT less socially conservative than even the democratic side of the US. I would not expect a majority vote to join the US from there.
Ah, here’s the stat I saw somewhere else: “Between December and February, the share of Quebecers who said they were “very proud” or “proud” to be Canadian increased 13 points from 45 per cent to 58 per cent, according to an Angus Reid poll conducted online Sunday and Monday.”
https://montreal.citynews.ca/2025/02/06/canadian-pride-is-on-the-rise-in-wake-of-trumps-tariff-threat-especially-in-quebec/
Yeah I guess I’d need to see a recent example of one country successfully taking another established country in order to see how that would work. Also, When it comes down to it most Quebeccers chose Canada over the US any day. The recent threats help to bring people together.
https://www.cbc.ca/news/canada/montreal/quebecers-cancel-u-s-trips-tariffs-1.7450306
I admire your efforts to encourage decorum here, but those two may be incorrigible.
Tariffs or not our real estate market isn’t taking notice
Canada is not a homogeneous society with 2 large distinct people and culture that is divided and is waiting to separate. Therefore, all it would take is an economic disaster from tariffs, and perhaps a couple of months of sanctions during the winter and coastal blockage to fall.
Having said the above, steel and aluminum tariffs are going to hit Labrador, BC, and Quebec hard.
“Canada has been surreptitiously infiltrating the USA for decades, planting key personnel in high level positions”
-General Ryan Reynolds
It’s incredibly difficult to take new territory. Borders are settled now and nothing is up for grabs anymore (except maybe a couple of cases far from here). It would be very stupid for the US to actually try to take Canada by force. It would lose – eventually and inevitably.
Also don’t be mean to fat people or to people with crappy fences.
Canada is nimble and we could put up a good fight. If we strike quickly and catch them flat footed we could roll into Washington and be raising the Canadian flag in 24 hours
If you want to checkout the integrity of the Canadian Armed Forces, one only needs to travel to the Tim Hortons on Wale Road in Colwood, near the base, kitty corner to the Juan De Fuca Recreation center. Its very important to brace yourself before entering the establishment. The first thing that will come into your mind will be ( holy shit, I never knew they made camouflage pants that wide and short) The circumference of the waste on these camouflage pants must be 7 feet, and their legs are only 3 feet tall. They are wider than they are tall and Their ass alone would be a feast for family of four. These men and women couldn’t even run a city block.
If the Canadian Armed Forces is all we have to protect this Country…We’re fucked!
I’m not sure that bikes lanes on McKenzie will help our national defence.
Pre-sales actually started in 2018 I believe so are right pre-sales at 1201 Fort would have ridden the 30% up covid swing before this downturn.
This person has a POS house with a rotting fence
Just remember, it’s because of people like this, is the reason why Canada is vulnerable to the actions of the United States. There’s a common theme to stop anything productive. They want to stop building homes, stop site C, stop pipelines, stop the south parameter hwy, stop the port expansion and stop investment. It’s not enough that they do nothing and are dependent, they want to make everyone else do nothing and be dependent too. They eat time and drain money from things that matter causing the productive in society to walk away. When people are dependent, they become vulnerable to the whims of those that do things.
Was there no bidding on that condo? Probably was priced low to get a bidding war that didn’t materialize. Expensive condo market must be weak. The beneficiaries didn’t want to pay the high monthly fees and taxes. Take the money and run.
“ Unique Opportunity – Estate Sale never lived in. South facing, 2Bdrm, 3 bath, offered for sale w Gst paid & Probate settled.”
I don’t know the answer re: probate and price. I pointed out the estate sale just because someone else speculated about maybe using the loss to write off a large gain in equities.
Just out of curiosity, if a guy kept his mouth shut, do you guys think I could get away with living in something like this? Its perfect. Just surface the lower flat roof with synthetic lawn right over the torch on, build a 6′ privacy fence around the perimeter…Dog would love it.
https://www.nanaimojim.com/listings/3625-3rd-ave-port-alberni-british-columbia-v9y-4e7-27834660/
Do you think being an estate sale affected its price? Does it matter if probate has already been granted? Or is it only an issue for buyers if it hasn’t?
The listing for the Oak Bay Ave condo says it’s an estate sale.
You mean depending on timing as well I think.
A 2020 purchase at 1201 Fort had two years to appreciate before the market peak.
The Redfern pre-sale probably closed at peak in 2022, although registered in 2024 when completed, and dropped right away – although this level of drop far exceeds the benchmark.
Depending on product, sub penthouse at 1201 Fort sale at 1.675 did ok from the 2020 purchase of 1.55
Yeah. The typical prison cell in Scandinavian countries with all the amenities including all the laundry/ fitness utilities, three very healthy meals 24/7/365. All you have to do is throw a rock thru a window and wait. You’ll forsure get atleast 30 days…Rince and repeat!
Do you consider over 1100 square feet unreasonably small? I don’t. Perfectly comfortable amount of space and as much as a lot of people want to maintain as they age.
Well yeah. Would you want to live in a dog crate?
Assuming they have an alternative and still results in a loss of about 490k depending on their tax bracket and whether corporate owned – if they could apply the whole loss to a 600k capital gain. Not too many people fall into this category. I’d call a net 490k-600k loss on a purchase of 1.7 pretty catastrophic.
High end new build condos in Victoria are a disaster if this is reflected in other pre-sale development resale listings.
Any updates out there on the cost of building? Spec to semi-custom? Last I talked to someone it was in the $300-$400 / foot. This was at least a year ago. I know there’s also $600 + but we would try to buy an existing house before paying that. Thinking labour costs should be coming down?
Likely better than whatever alternative they had. But ya bad for comps in the complex and others in the market like that Rockland one where frank and thirsty thinks it will go for around ask at 2.5……
…just two bumper-stickers (carbon-tax election & XxxxTrudeau).
“The carbon tax is no longer the ballot box question,” a Conservative source in Western Canada [said]. “But we’ve invested so much money fine-tuning that message, it’s hard to abandon it completely.”
“The challenge is to demonstrate that the party can adapt quickly, that the leader can go beyond slogans and that he has more than one trick up his sleeve,” warns a third source close to the party.
It is too bad they tossed Erin O’Toole; he had eleven years of Parliamentary experience and broader view of society.
A Pallas poll conducted on February 6 shows that if an election were held today, the Liberals led by Mark Carney would defeat the Conservatives. The Liberals would win with a minority government.
Either way we are likely looking at a minority government. The party that can best forge a working relationship with the NDP and the Greens will be the next government. And since PP has pissed everyone off in these parties it’s unlikely that he could keep a Conservative government for long.
Good.
Saanich to scale back high-density plans for Quadra-McKenzie area after pushback
https://www.timescolonist.com/local-news/saanich-to-scale-back-high-density-plans-for-quadra-mckenzie-area-after-pushback-10204281
https://housesigma.com/bc/victoria-real-estate/407-1916-oak-bay-ave/home/AKv53DDajOr3MnxB?id_listing=Z5BX321ZkrX7Dar0
The Redfern?
…
Still ends up being a big loss even if.
And not good news for the other units currently for sale.
Might have had crystalized a gain in equities or else where and used this to write off against it.
Marko maybe the 20+ year real estate bubble is finally popping or at least slowly losing air, it would be much better for Canadas economy to move away from the cult of real estate only goes up.
Brand new never lined in condo on Oak Bay Ave re-sold today for $1.1 million. Pre-sale purchase price $1,599,000+GST. That is a loss of more than 600k, that hurts a bit.
Okay. Before I go away for the evening. Lets please not forget one of the greatest Canadian female artists that lives right here on Vancouver Island…Sarah McLachlan. Keep in mind, I’m a rocker, listening to Metallica and Slayer. I am a suck hole when it comes to the voice of a woman…Probably why I have been married for over 35 years now.
https://www.youtube.com/watch?v=i1GmxMTwUgs
…And an amazing Grass roots Canadian song writer that has also topped the charts everywhere in the world.
Max – she is an amazing vocalist. You Oughta Know is the first episode they cover on 60 songs 🙂
For anyone who is a music nerd I personally like listening to music podcasts. I’m listening to 60 songs that explain the 90s. It’s very good. I’m also listening to a podcast by radio France called La Jamaïque avant Bob Marley that’s super interesting tracing the origins of reggae. Anyway there are others or if anyone else listens yo music podcasts and has a recommendation please post.
The ladies of HHV should listen to this four minuet song from this Canadian prodigy with her voice of an angel.
https://www.youtube.com/watch?v=2241Yz4WH7U
Yep tough to be creative , I’m a jazz guy it’s pretty lonely and the trio’s I watch make no money , too small an audience. No money in jazz . At Herman’s and most small venues the band gets the door and that doesn’t add up to much money lol
Over the course of 18 studio albums AC/DC has been singing the same song since 1973. Must be money in it.
Nickel back , is a great Canadian band and have always been a fan . Saw them in concert in Calgary for the flood relief. But they’re songs are predictable or as Chad said he gets paid very well to scream lol
No they don’t. Nickelback owns its own label. They are 100% Canadian, live in Vancouver, and have topped the charts all over the world. They are by far the best Canadian artists at this time. Thurston and Frank, please listen to this one four minuet song, from a true Canadian current rock and roll band.
https://www.youtube.com/watch?v=BB0DU4DoPP4
Dee, nice stuff , probably won’t hear it on 98.5
Frank , different time, bands had the creative freedom , today unfortunately it’s very commercial and successful artist have to stick with formula that got them there . Record companies want them to put out the same shite that sells.
Here is some newer music for you all to enjoy. I use it while working at home.
https://youtu.be/XwRlQSf-tQk?si=cbtEiG7BH0L_2HT7
No man. That was just an existing library that my parents were into, I was into them too…Especially Led Zeppelin!
Max-Too bad you missed out on bands like Hendrix, the Doors, Grand Funk, the Stones, and so on. That was the golden age of rock. You liked everything that came out, not the crap that is being produced today.
High level stage performers are one thing, my local pharmacy is another. I walked in there to buy some cosmetics for my Wife for valentines day. I looked at that poster and immediately walked to the exit. I will never go back there again…Ever!
BTW my bedroom walls were plastered in Motley Crue posters as a tween. Back when life was normal.
He does have a way with words and may be diving deep, but he is correct about Global Affairs Canada funnelling $1.5M through the BBC to spread liberal ideas in Africa. Most of that money was allocated to a gender equality initiative in East Africa called “Broadcasting for Change: Empowering Young Women Through Media in Tanzania.” Billions more were spent supporting Women’s rights in other developing countries.
Money well spent, or not, that story is the sort of thing one can find on a Canadian RW news source. It gets people riled-up with its editorial slant, but does shine a light on current events.
“Global Affairs Canada a top funder of state-funded British Broadcasting Corporation, mostly for foreign DEI projects”
>>> The moment we take divergent positions on foreign policy, USA will be a threat to us.
Nonsense.
That’s already happened, and “ USA will be a threat to us” didn’t happen!
Look at:
– Vietnam : (1960s-1970s) – Canada did not send troops to Vietnam and was officially neutral.
– Cuba : (1960s-Present) – While the U.S. imposed a strict embargo on Cuba, Canada maintained diplomatic and economic ties, continuing trade and tourism with the country.
– Iraq : (2003) – Canada, under Prime Minister Jean Chrétien, refused to join the U.S.-led invasion of Iraq, arguing that there was no UN mandate for military action and that intelligence on weapons of mass destruction was questionable.
.. and many others.
Yes most people born in North America since WW2 have won the lottery, I’m not to sure if that will be the case for life over the next 4 years
Seems to be a slow week for RE concerns in Victoria
We supported the US in a huge way for Afghanistan but not Iraq. At least in terms of military support.
Europe has no use for the heavy, sour crude oil that we have. It makes more sense to expand the TMP to the West and export our crude to Asia.
Totally – In my earlier post I wasn’t by any means suggesting the US is going to invade Canada, just that they plausibly could if they wanted.
My actual predictions.
Trump will do some good things for the US and quite a few bad ones. Overall there will be a net erosion of democracy there but the republic will persist.
Canada may have a tough few years but will muddle through and may actually be in a better position in 5-10 years.
Owning land in less climate vulnerable locations will continue to be a good investment
America’s protection is a reward for Canada taking similar positions on foreign policy as the USA regardless of what is right. IMO, USA is no different from Germany, Japan, and Russia of the last century in terms of arrogance and abusing their power. Look at what they did to Vietnam and Iraq. Did Canada have an opinion on WMD in Iraq? Everybody knew this was a false flag to take control of the oil in Iraq, but Canada (and UK) knowingly went along with USA on the invasion of Iraq.
The moment we take divergent positions on foreign policy, USA will be a threat to us. Of course, it is a necessity for us to be friendly with the USA. We depend on them for so much.
Does anyone else think the similarity of the listing in 2017 to the current listing is suspicious? Was anyone even living there all this time?
Trump has done more for Canada in a few weeks than Trudeau did in 10 years. Interprovincial trade barriers are coming down, the border is being patrolled more diligently, talk of getting tough on fentanyl and drug dealers, abandoning the fanatical green policies that are bankrupting the country. Keep it up Mr. Trump, there’s a lot more to fix.
My only complaint about 3710 Crestview is it has way too much closet space for the 10 shirts I own. What would I do with all that extra space? Can you like rent it out like you can an extra parking spot?
Bobby k , ya no bad day for thursty. I kinda luv disruption as I’m hopeful this might bring some healthy change in Canada .
And indeed, a beautiful day. Our kids have been absolutely loving the snow.
Oh, and I’d make the same recommendation about pulling the notebook out etc. to Max as well. I appreciate Steven Pinker’s consistent refrains about how despite the bad we really live in a remarkable period in human history.
When it comes to smart people predicting the future, or rather trying and often failing, I’d also commend
https://musaalgharbi.substack.com/p/smart-people-are-especially-prone
Guys. Let me make a polite suggestion: take out a notebook and write out the various things you’re floating this week about the States. Civil war; attacks on Canada; demise of the country and/or descent into totalitarianism; Nazi-ism; etc etc. Put a note at the top with big bold letters indicating your predictions to revisit later. Then in a year or two or three pull it out and take a look and compare with the situation then.
I don’t know what HHV was like in 2017, but I remember going through (quite silently) a version of events quite similar to this one during Trump 1.0. I kept a private list of things colleagues and friends were saying at the time and let’s just say it didn’t end up standing the test of time. On the one hand, I get it, the times are crazy, but better to keep one’s head.
I noticed this on my daily run, and unless i’m missing something it looks like 3710 Crestview may have somehow managed to have an almost zero rate of return since purchased in 2017 for 1.925MM and now reduced to 2MM, I guess thats the danger of buying in a hot market, sort of what will most likely happen to people who bought at the highs in 2021 and 2022.
https://housesigma.com/bc/saanich-real-estate/3710-crestview-rd/home/GMnKYqppOQj3w1Qr?id_listing=NkKJ3J1l5nN7d4V6
“Good jobs report today , and maybe an emergency 50 point interest rate coming . Things are not too shabby right now , the future is looking sunny”
‘
‘
Thursty, I have to give credit for being an eternal optimist! With all the storm clouds on the horizon and todays strong employment numbers which are bad news for the stock market and interest rate cuts, the fact that you remain optimistic on the potential for strong gains in the housing market is admirable but at some point you need to take into consideration risk management and I suggest you look closely financially and what happens if things dont go the way you want, this would be prudent given the presence of a lunatic (who may have early stage dementia) in the white house and the potential for him starting a major global conflict and increasing inflation.
I belive you mentioned your a member at Uplands, we will have to get out for a round once the warm weather comes.
Any day that we’re not six feet under is a good day.
Tubby Tangerine, yep using that too 🙂
“Tubby Tangerine” is the best one so far. love it!
It is a beautiful day. Like Thursty I too would high tail it out of here. Anyway life is good for me today. I woke up and said my thanks like I do every day 🙂
Unlike Russia, a military takeover by the US is completely feasible, albeit extremely unlikely despite all the 51st state nonsense from the Tubby Tangerine
I beg to differ…which country had expanded its financial control and invaded the most countries in the past 35 years (Russia 3 / USA 8)
Furthermore, Russia already has its own Northern Sea Route and its own oil & mineral projects to develop.
Russia, Canada, and Denmark are politely & scientifically negotiating for a definition of continental shelf locations; the USA actively disputes our claim that the North West Passage is our territorial waters
Oh, yea, which country is currently lipping-off about taking over Canada and a Iceland (Denmark)
Dee, No war with thursty. I would just high tail it out of here , lots of nice places I could put my feet up and enjoy a nice meal
Agreed. Thanks for the discussion.
Good jobs report today , and maybe an emergency 50 point interest rate coming . Things are not too shabby right now , the future is looking sunny
Well like I said let’s hope it never comes to it. In war people pick a side or they are assigned one. Can’t always be neutral.
Dee, I’m good with either side , I’m not picky .
Protection from the USA if Russia attacked us?
The yanks would nuke us. Some friends.
Doesn’t Russia also have all those ice breakers?
Anyway Patrick you might be reading the wind a little wrong here. It could be the US that threatens to take the arctic from Canada. And then maybe with Russia help. Hopefully it never comes to it but at some point all you fence sitters might actually have to pick a side.
They can barely hold their own against the Ukrainians. They would be completely incapable of a seaborne invasion of Canada even in an alternate universe where the US did not exist.
>>> Who do we need protection from nowadays?
Russia.
Canada and Russia share a 2,500 mile sea border. Typically separate by hundreds of miles, but as small as 2.5 miles. And the Arctic Sea Bed is disputed with Russia claiming much of the same 620,000 square miles that Canada claims. This area is considered to be rich in oil, gas and other resources.
If Canada had no defense pacts with USA or NATO, I’d expect Russia would just take that and more. As it is, Russia has planted its flag in the Arctic Seabed, and routinely flies its bombers into Canadian airspace. If there’s a big oil/gas discovery, I’d expect Russia would just take it if Canada didn’t have military support from USA and NATO. As I’m sure you know, Russia is an imperialist country threatening to expand in all directions.
But Canada’s not afraid of Russia, thanks to the USA!
Max, while your at it you should stop listening to Mick Jager and the Rolling Stones, David Bowie, Kiss and all those hair bands from the 80s
The only thing I’ll be boycotting is the Canadian Shoppers drug mart.
https://torontosun.com/news/national/shoppers-drug-mart-sparks-outrage-for-ad-featuring-bearded-man-in-makeup-its-wrong
Europe is a long way away and the scourge of communism has long passed.
Who do we need protection from nowadays?
“may I remind you that the reason you are living in peace in Canada is largely thanks to the USA protecting us militarily for free. It’s a nasty world out there, and in the last 100 years, the likes of Germany, Japan and Russia have been a threat to many countries. But not to Canada, as we are protected by the USA. ”
Wasn’t thé US once a threat to this country? Of course it is better to share only one border with a prosperous and relatively stable country – as opposed to like being Mali or something. lol. Just like America is lucky they get to share one of their only two borders with a prosperous (global scale), relatively stable and especially peaceful country. So flip the coin the other way it’s just about messaging right? We have been – both nations – lucky to have each other as neighbours.
Hopefully the silver lining that will come out or the Trump chaos is a pipeline to Eastern Canada. Although, petty politics such as the NDP comments about being a 51st state or reconvening parliament to force a non confidence vote before the Liberals can elect a leader are counter productive.
Nonsense.
You should be grateful, respective and privileged to live in a country like Canada that has the good fortune to share its only border with the USA.
I love America, and love Americans. This has been true for my entire life, including now, and won’t change. There are many reasons for this, including time I’ve spent living in America, going to schools etc.
For the HHVers dissing America, may I remind you that the reason you are living in peace in Canada is largely thanks to the USA protecting us militarily for free. It’s a nasty world out there, and in the last 100 years, the likes of Germany, Japan and Russia have been a threat to many countries. But not to Canada, as we are protected by the USA. The next time you begin a municipal meeting thanking the indigenous people for using their land for the meeting, you should add some thanks to the USA for protecting this land from invasion by other countries, and doing so for free.
Of course I love Canada too, but “God Bless America!”
Trump is making a few folks crazy on here .
I see max has gone off the deep end again.
Keep an eye on global affairs Canada. They wiped it all out/deleted everything yesterday. They forgot about the way back machine. Backups are available everywhere on the internet right know. They’re done! The shit they spent our taxpaying dollars on, will blow you away!
In separating the wheat from the chaff.
He maybe this, he may be that, but he’s mostly divisive.
Sometimes though, he offers a clear & balanced analysis, like this 3- clip about homeless people:
https://youtu.be/Jk84Woid6kc
Beg to differ Deryk. Tell me why you think he is a buffoon. And define “smart” for me please. By all accounts he regularly make others who appear smart and/or profess to be smart look like utter buffoons.
Heh.
By the way, I completely agree with what you said earlier about shared interests and how this would be trade war makes no sense.
I’d love to watch you have a little chit-chat with him regarding the current political landscape in Canada. He has 8.6 million youtube subscribers and 5.6 million followers on X. That’s quite the audience… An earned audience. You can’t just buy that shit. It must be earned!
Good thing they gave all those quarks value neutral names.
@SaanichAdam, thanks! Interesting! Sorry to hear it was such a lonely existence.
Things are off topic enough right now that I won’t derail further about the state of science in the public sphere, but in brief I agree with a great deal of what you say. Personally, I tend to concentrate on things that we can do better within the academy. As you say, better communication is one thing that can be done. (Incidentally, for those that are interested, UVic runs a monthly talk at Hermann’s Jazz Club downtown in which a member of the faculty of science goes and gives a public talk about their research. With lots of Q/A and interaction. I gave one last November. Lots of fun!) Part of that is treating the general public with respect, which perhaps is what you have in mind with your comment about elitism. I am always amazed when scientists, people that would carefully and rationally argue their positions to a skeptical or even hostile colleague, and who encounter their mistakes on a daily basis, simply presume that the public should and must defer to their expertise. Always strikes me as an own goal.
Maybe I’ll also add that at least when it comes to my neck of the woods, theoretical particle physics, nearly everyone I’ve met in Canada and the US is rather pro-science. It’s also the case that for the most part we don’t clutter our subject expertise with politics, nor do the findings of our field have much to say about political decisions e.g. response to climate change, otherwise things might be quite different.
Gun homicides per 100,000:
Canada 0.889 (2022)
USA 4.054 (2020)
–wikipedia
Maternal mortality rate (deaths per 100,000 live births), 2022
Canada 8.5
USA 22.3
healthsystemtracker.org
https://www.timescolonist.com/local-news/bc-investigates-significant-opioid-diversion-including-international-trafficking-10191321
Plus Saanich Adam there is a confusing double message that happens with respect to science where on the one hand we have access to all this information that we never had (including scientific information that is now more publicly available than ever) but are somehow supposed to not allow that to dictate our own thoughts or views and instead just defer to real actual scientists (I’m sure you’ve seen the memes comparing an actual scientist with average J who does internet research). There’s a weirdness in the relationship between the information, the user, and the source of the information — a new problem probably.
I was thinking the other day how odd it is that in the US the value of human life is essentially determined through private sponsorship – like the more “valuable” humans get the best insurance and less and less all the way down to the least “valuable”. It’s kind of gross when I think about it that way. I mean, it would be different if the US didn’t have the resources to help everyone – instead they do have the resources but they let the private market decide. So odd and morally sus.
@Kristan I started my undergrad in Psychology w/a philosophy minor and switched to Biology/Neuropsychology and did research in my Master’s on the effects of CO2 and other compounds (nicotine, cocaine) on the brains and behaviour of fish and other sea animals. Did some work in Alberta, BC, and California and had a few successful publications into my mid-20’s before switching into business (oh the irony) after I couldn’t hack the loneliness and day-to-day of living in a lab, as well as felt the academic publishing and university administration systems were corrupt to all hell. I’m still a huge believer in science and think more decisions and policy should be made on the back of good research. Sadly, as a society we seem to be losing our ability to have constructive conversations around scientific consensus. I feel the general public even moreso than before doesn’t understand how to read or understand science, and many are simply anti-science. I wish there were more useful public scientists like Carl Sagan these days. But in the USA they were even attacking Bill Nye a few weeks ago.
But, you may agree or disagree, science has also hurt itself in some ways by not making it’s research (tied behind expensive paywalls everywhere), vocabulary, and findings as accessible as it could have (but maybe my causality is reversed here – maybe we didn’t fund enough public money into science communication) and IMO has made some enemies along the way by being called rightly elitist.
What percentage of people just drops dead without ever needing to rely on the medical system? It must be tiny. I don’t see how the middle class person who prefers life in the US isn’t playing the king for a day/fool for a lifetime card because eventually all their (presumed) extra riches will flow to the medical establishment when they (pretty much inevitably) become seriously ill and require ongoing complex treatment. IT’s a really weird situation down there in terms of the health complex. Health care and guns – two reasons that, taken individually – are enough for me to never want to live in the US. Taken together.. just full stop no. And I’m saying that as an upper middle class person who would probably have some good insurance. Still, I don’t trust the system in the US to not funnel those goods away even more from everyone other than a select few (the uber rich). I guess Vic RE is just more optimistic than i am!
As for flood risk, this has been in-place with lenders for over a year now as the bank appraisers have to look into if the property is in the flood plain/zone. If you live near a river, lake, low lying land, or ocean it may become more difficult to obtain financing some time in the future.
Other changes in the last year include energy efficiency rating, EV chargers, and solar panels.
And it seems the lenders are always adding to the list of detrimental conditions that have to be reported.
It’s not here yet. But I suspect in the next couple of decades from now it will be a requirement to have a building inspection performed, solely for the bank, at your expense for a new mortgage. That should add another grand, by then, to the cost of purchasing a home.
Canada could never afford to build any kind of army that could defend our country. We are a small population and it is impossible.
Therefor, the USA will always be able to crush us economically to the point that Canadians will beg to be part of America. They will not have to fire a single shot.
International law and the idea of sovereignty is now out the window and does not exist.
It’s why Canada will likely become part of the US. (If Trump and his gang survive for any length of time.)
It will be interesting to see what happens to real estate here in Canada. I suspect that the west coast will do well regardless.
What I’m also interested in is whether civil war will break out in the US between various groups and I could see that happening in Canada as well. I could see pipelines, the electric grid, railroads etc being targeted by people who don’t like what is happening.
No matter what, there will be major changes over the next five years. Its not the time to stick your neck out.
I think the risk is elevated due to tsunami projections – which are going to be extremely rare and may or may not ever hit a given area. https://capital-region-tsunami-information-portal-bcgov03.hub.arcgis.com/pages/regional-tsunami-map
That plus rising sea levels. https://cheknews.ca/interactive-map-shows-impact-of-rising-water-levels-to-vancouver-island-385720/
Most middle class and all upper middle class will have a better life in the U.S. compared to Canada
Now the weakening USA is circling its wagons, and we will get a taste of that “exceptionalism” because we are inside that hemispheric circle.
Our Northwest Passage and Greenland may well become the northern border of Fortress North America. Geo-strategically, the Arctic is going to be a front-line of a great power competition and Canada isn’t a great power.
Deryk, I’m not too sure we are seeing the demise of the U.S , they seem to want change and I’m good with that . So far trump is getting a lot of what he wants with more to come . I can’t understand why Canadians would even hang off his every word , some of the things he’s wanting to change would well for Canada
Flood risk is not an issue for most of Greater Victoria. Your basement may well flood but your house isn’t going to be submerged or semi submerged like 2021 Fraser Valley. There are pockets of high risk on the Island. Cowichan, Nanaimo< Courtenay, Alberni and Campbell River all have low lying areas prone to flooding. If you live in one of those areas you will often find resources around flood risk (e.g. https://cvrd.ca/3195/Flooding)
Right now it is very difficult to determine this for fire risk. This information is held privately by Cooperators Insurance which has compiled this data at its own cost, but shared it with the Climate Institute for the purposes of preparing the report. Unlike the US, you cannot just plug your address in and get your risk. The fire risks have not been modeled to account for future climate change related risks.
For flood risk, this info is held by provincial/federal governments, but not easy to access or understand. The only risks that are modeled and available publicly in a somewhat easy to understand format that I’m aware of are the earthquake risk maps.
Jordan Peterson is the kind of smart, that only stupid people think is smart.
He is well spoken and well groomed….but a Buffoon just the same.
Canadians believe in international law for the most part. and we believe in other countries right to sovereignty.
Even before Trump, America bullied and stomped all over the rest of the world and we don’t want to be a part of that.
Join America if you wish, but don’t complain when they send your child home in a box after they were sucked into wars in foreign lands to murder innocent men, women and children, for the benefit of a few multi billionaires.
In regards to America, we are witnessing the dying shudders of a nation that has been knocked off it’s perch. Trump is the result of the desperation to hang onto life. The people who support him are as delusional as the man is himself.
Canada can do better. Lets work on that.
Joining America would be the worst thing for our children’s future. It would be like tying our lifeline to the titanic.
Let’s stay Canadian.
It looks like Trump has to wait for a few months to get the tax cuts passed through Congress.
https://www.cnbc.com/2025/02/06/trump-tax-cuts-republican-house-senate-split.html
Our house is built on a gigantic rock. An engineer told me “you can’t sink into a rock” so I guess that’s a good thing.
Fine, Canada is better for average people, poor people, criminals, lazy people, migrants, refugees, and probably a lot of other people too. But sure if you’re a rich white man who is super into being a rich white man, I can see how the US is appealing.
How do you find out if your home is in a high risk area? Because, how will homes suffer on that basis if there’s no accurate measure? Or, is there?
The Canadian Climate Institute is recommending that fire and flood risk be part of mandatory RE disclosures like they are in the US.
If you have a home in a high risk area it is going to suffer some devaluation imo. BC has a disproportionate share of risk for both flooding and wildfires. The report recommends diverting new builds from high risk areas – right now there is a lack of information on risk and no checks on permits in high hazard areas in most municipalities. The report lists the southern end of Vancouver Island among the top 10 riskiest regions in Canada for flood damage.
“Federal, provincial, and territorial governments should urgently update hazard information and mandate its disclosure in real estate transactions”
https://climateinstitute.ca/reports/close-to-home/
Jordan Peterson is too right wing for me. In my opinion he spreads disinformation such as anti vax and anti science.
The debates that I have found interesting are Matt Dillahunty v. Jordan Peterson. Jordan is what happens when you combine Nietzche and Walt Disney movies together. He is the pseudo-intellectual hero to the disenfranchised, mostly white men, who believe they are entitled to sex with women.
Adam, +1 for the library and also agreed about Peterson. My personal theory is that some of his popularity is because he’s been in the crosshairs of people even less impressive than him, and who tend to be shockingly illiberal to boot. The enemy of my enemy effect. Also, if you don’t mind, what was your academic background?
Saanich Adams…well said. You expressed how I was feeling, exactly. Did my best to watch, Max, and got through 98%, but mostly what I saw was another person sowing divisiveness. There were so many parts of that video that I could have commented on with respect to our history, how transfer payments work and why, perhaps a call to a bit of understanding of other points of view, even if you think it’s occupied too much of the public policy world, but just didn’t have the energy, nor do I think it’s the platform. Moving on and look forward to reading stuff on housing.
Enjoy the sunshine today, everyone.
frank, i would agree , i think canada has become soft when it comes to capitalism and i think it shows.
Canada is renowned for its ability to produce average and poor people. Less incentive to be productive and more programs to allow people to be dependent on monthly welfare checks. We need more capitalism and less socialism.
Change “average” and “poor” to “lazy” and “criminals”
For sure America is our closest cousin. Given that plus 98% shared economic and foreign policy interests, Trump’s wannabe trade war really makes no sense.
On a related note, I don’t love the booing of the American anthem at games. I understand where it comes from, but to me it just communicates disrespect without accomplishing anything.
@max I tried so hard to listen to Jordan Peterson at some of my friends request. Even read his 12 Rules book and listened to numerous podcasts – but his combination of word salad and nonsensical over-styled and complicated language really turned me off. And that’s coming from a published academic in a technical field with a philosophy background. I later figured out that it was just difficult to pin him down on what he was actually saying, and if he ever gets in a “debate” he can never answer straightforward questions -it’s because he isn’t really saying anything and because it’s so ambigouos he always has an escape route. Some people have called him the “stupid man’s smart man” – I don’t think that’s fair. He has some points of grievance which many share and are legitimate, but ultimately he doesn’t have much substance and I can’t understand his rise to prominence. When you see him in conversation or debate with other prominent intellectuals/commentators of our time – Sam Harris, Bret Weinstein, Ezra Klein, Alex O’connor (if religion is your thing), he comes away looking quite small and angry. I think like many intellectuals that were once serious people Jordan has become more of an “entertainer” for his particular side at this point and working on divisiveness rather than bringing people together. But, that’s just my opinion and I exist in the center politically.
Ok back to housing……which is inherently political but we digress…
Thanks, SaanichAdam,
Also access the library for books but didn’t even think about it for movies. Will go there as well.
Another refuge from Netflix and Disney+ is the library! We love the library, it’s totally free and the collection of books (obviously), movies, video games and magazines/online subscriptions you can get is mind boggling. Victoria library network even has a streaming service that we have been able to find some gems on. Best of all its FREE and for the most part you can get whatever you want even if they don’t have it. My local branch the staff are super helpful and its fun to interact with people there. My partner and I are in our mid-thirties but we love getting DVDs from the library and booting them up on the old laptop. We recently went through the whole series of Lost (bizarre show in hindsight). Anyways, just another way to support local, lower your monthly spend on numerous subscriptions, and get 95% of what you might ever want to read or watch.
deleted. move along.
We survived the great database connection error of ’25
Sure, it is more nuanced, but I think for a like 3-line overview, Dee’s post has a lot of truth to it.
Dee, FWIW I’d disagree with those claims. It’s far more nuanced, and depends significantly on where in the States you’re talking about. Remember that any summary of the States writ large is like applying blanket statements to all of Europe, ignoring the large gradations between say Scandinavian countries and Turkey. Our life here is far better in material terms than it was in California, but in terms of material conditions alone (cost of living, housing, medical care) would be improved significantly say in Eastern Washington. That being said it has been our experience that the two nations share far more in common than not, especially when comparing say countries within the EU.
We have some Americans staying at our place when we’re away in May. We were talking with their friends (also Americans) and I had the courage to ask them bluntly if life is better in the US. They said for the very rich it is better than in Canada (hospitals are better, taxes are better, etc). But for average and poor people Canada is better. So if you’re very rich and think your life would be better in the US maybe you’re right! Might be a good idea to actually move there in such a case 🙂
You have to wonder why wealthy Canadians inevitably end up moving to the U.S. or other countries. Do they have an insight to the flaws of their homeland? Is the grass greener on the other side of the border? It would be interesting to know what other developed countries actually think of Canada. Maybe we’re the refrigerator of the world that countries go to for their food.
If you are a true Canadian, you should listen to this guy…Its very much worth your time! And its only 10 hours old.
https://www.youtube.com/watch?v=_Ef8p-kQDRs
Thanks! We shop at Whole Foods and Wholesale Club. Thinking about switching to fairway instead of whole foods.
I have also sworn off Amazon. That will be hard for some harder to find items.
P.s. re amazon, only used a few times but also stopped some time ago for a variety of reasons. Like the grocery shopping, it’s also easy to find alternatives, like directly from the store.
We shop at Superstore for basics, Thrifty’s, and Quality Foods for other specific items and our local butcher for 90% of meat and other local things. Not everything there is local but a lot of it is. Our principal residence isn’t in Victoria but love Fairways when we are in town. I have used Qwant as my default search engine for years, mostly due to privacy concerns. It is based in France, where they have stricter controls in that respect.
I know i won’t get it perfect but i also believe in the power of one, multiplied. If enough of us try, it could have enough of an impact to move the needle. And that is worth trying for.
And, Maggie, thanks for the tip/reminder re knowledge network. Will definitely add that to my view list as well.
I shop at Fairways, Save-on, Red Barn mostly as I can walk to them. Once every six months I trek down to the wholesale club for dried beans and various middle eastern/Asian ingredients. The only thing so far that I buy that is not easily replaceable with a non-American version is Better than Bouillon – but I still have lots and I can make my own. I get meat from Berryman Brothers which is local and they deliver.
The biggest change for me is not ordering on Amazon. I dislike shopping IRL so it was an easy way to avoid stores for harder to find or specialty items. I will miss that – but it is not a real hardship.
Corrupt Premier of BC right now…
Also check out the Knowledge Network. It’s from here, it’s free, and there are zero ads.
https://www.knowledge.ca/
Arbutus/Totoro do you mind if I ask where you buy your groceries?
+1
As others have pointed out US products and US corporate ownership are everywhere. The goal doesn’t need to be total elimination of those just a reduction that works for you. (I still use Google and an iPhone and Microsoft products, I ski at a US owned resort (Mt Washington), I am member of some US-based subscription services (although just cut some), the list goes on).
Will be interesting to see how much this sticks .
Totoro – about 7 days for us not buying things made in the U.S. and I’ve been encouraged by how many people who have mentioned they are doing the same. Also, I’ve also been surprised at how easy it’s been. A lot of alternatives out there. We’ve also cancelled Netflix, will be moving to Britbox next month and quite excited about the change of selection. Will also check out CBC Gem to see if there’s anything we’re interested in there. Moving away from U.S. goods as far as possible and it will take a very different political climate and a very different president for me to ever travel there again.
When it comes to buying products, you don’t have to exclude all products not marked ‘product of Canada”. Mexico and other countries are not imposing a tariff on Canada. So when you’re looking to buy toothpaste you can check the label as a lot of brands are made in Mexico.
Canadian businesses have a bit of a reprieve to find new sources and supply chains to replace U.S. products. I suspect that many of the big chain stores are stock piling goods and filling their warehouses to get them over the transition period to non U.S. products.
The USA currently imposes a tariff on Canadian Lumber at 14.5%. This does not include Trump’s proposed additional 25% which would then be a 40% tariff on Canadian lumber.
The California Building Industry Association, says “there aren’t really alternatives” to Canadian lumber used for home building in the state.
January’s wildfires around Los Angeles destroyed or damaged as many as 19,000 homes and other structures which created an immediate spike in demand for new housing in the state.
At a time when BC should be helping Los Angeles rebuild, these tariffs are just political revenge by Trump on blue states. This would be a time that the USA should be considering a temporary emergency reduction in the tariff on BC Lumber not an increase.
I agree that US markets look overvalued and are in the topping process. DJT takes great pride in stock market performance during his tenure. The reason the tariffs were withdrawn is not because of anything Mexico or Canada did, but due to the crashing stock market on Monday morning.
I think there is going to be one last gasp in the stock market before the big correction. That will come when the House of Representatives passes the corporate tax cuts proposed by DJT.
Hopefully the economic terrorist actions of Donald Trump will spur Canada to open free trade negotiations with more South American countries . Presently Canada has one free trade agreement in South America and that’s with Ecuador.
It’s summer in South America when it’s winter here.
I really hope there are so many more people like you such that the U.S. items will need to adjust their pricing and then people like Marko and I can buy them at a discount.
We used to stay at Harrison as well and agree it was fun, as was skiing at Hemlock Valley when the kids were younger. Upscale hotels aren’t really worth it for me. Nice if someone else is paying I guess, but not good for family trips. Airbnb is though, but getting harder to find in BC.
Day three of not buying US – like many Canadians. A bit time consuming reading labels, but so far so good – lots of alternatives. Once habits get reset they get hard to change. Could have longer-lasting impacts on consumer habits. https://www.theglobeandmail.com/life/article-the-trade-war-is-running-hot-in-the-costco-frozen-food-section/
In housing, seems like more is coming onto the market. Some places are prices significantly above assessment. I know assessments can be off, but I wonder if some sellers have unrealistic expectations. Guess we will find out.
Because I am staying in a hotel that’s one tier above a holiday inn?
Used to do holidays there with 3 generations of family. Agree it’s a good destination. Maybe not up to the standards of VicRE, but still fun for us plebs 🙂
Decent destination in winter too. Hemlock Valley (aka Sasquatch) is a dinky little resort but plenty to keep the kids entertained.
Further to permits I was involved in a transaction last year where the seller had obtained a permit for a deck 32 years ago. At the time had the property surveyed as it was close to offsets, professional drownings, BP fee, inspection, etc.
After inspection buyers come back with concerns about the deck….at 32 years old it was aging and need some work – obviously they could care less about the paperwork.
I am guessing the survey, drawings, BP fee, etc., probably cost $2k 32 years ago. This owner would have been way better off just building the deck without permits – it wouldn’t impact value as it needs work anyway now due to age and who knows what $2k today would be if it was put into the S&P 500.
1st time buyers always ask me “why do so many property disclosure forms disclose work done without permit, isn’t that bad” and I always reply with when you buy a home and are in a position to do some work try to obtain a permit and let me know how the process goes for you.
A year to get a building permit to build a garden suite in a housing crisis, crazy.
As I said in my post a few days ago re concrete sidewalks 100 years ago vs concrete sidewalks today. Identical but today you require 10 consultants today. We as a society have engineered the mess we are in and we as a society as unwilling to fix this non-sense. There is more and more bureaucracy every year, not less.
I received five emails today regarding the owner builder exam (once again, a 110% useless exam)….
“Hello Marko my name is xxxxxxxxxxxx. I recently applied for the home owner builder. I sent in the application which was approved. Each time i called in and asked what i should study i was told to study the building standards guide which is basically the home warranty manual. I kept stating that there is no study guide that goes along with this. We have bought property in the north so are hoping to pursue our dreams> oi took the test yesterday which i paid proctor u for scheduling at 540 as i tried to take it earlier in the day and it said my laptop was not compatible. So i paid to reschedule. I quickly called my son who recommended i come over and use his computer. At 540 no test came on or should i say no proctor. It kept saying a proctor will be with you shortly. After 20 min a proctor came on. Asked to see my licence and around the room. Then nothing would happen ended up going through about 5 proctors and jumping through all of these hoops repeatedly before the test began at 730. I was very fatigued and frustrated by this time as i normally do not do things where i have to think to much in the evening as the fatigue makes me more tired than the average person.Anyways just wanted to share with you.
xxxxxxxxxxxx”
Thread seen on the globe and mail today
“I am an investor and hope prices start inching up, so can get out of the market”
I believe there are A LOT of people thinking the same thing especially with the US stock market more than doubling over the last 4 years including the depreciation of the CAD$. Although this will most likely be the wrong time to jump to US stocks especially unhedged, better to stay invested in CAD, sell high buy low.
I’ve said it before and I’ll say it again, I believe real estate will be dead money, after inflation, for most of this decade as it has been for the past 3 years, especially if we get renewed inflation, prop taxes, insurance etc going up by 2x or more inflation.
Rodger , what was the disaster with interest rates during Covid . I thought the economy did well for economic upheaval that it was
BoC is unlikely to preemptively reduce interest rates. The last time they did that (during Covid), it was a disaster. They would like to wait until the unemployment number goes up before acting further.
With the labor force shrinking due to reduced TFW, the unemployment numbers won’t show the real situation in the economy. There may be a big TFW population in the country illegally and with all the missing students from colleges may be doing cash jobs, and wages won’t rise much for the next couple of years. 2025 will be very bad in Canada, tariffs or not.
It is just that the past mistakes in the economy are catching up. Hard work ahead for governments, businesses, and employees.
Countries that predominantly use coal for electricity (China & India) have no interest in switching to natural gas because it costs a lot more (NG or LNG).
With Trump in power, USA will be in no hurry to reduce GHG emissions by increasing natural gas for electricity. In fact, USA is likely to increase the GHG emissions in the next 4 years.
https://www.worldometers.info/coal/coal-consumption-by-country/
Too funny. He’s either a genius (unlikely) or a moron (likely).
*https://www.bbc.com/news/articles/c6264g7z2ewo
I’m curious to hear if people think things would have been different if Canada/Mexico didn’t respond with retaliatory tariffs. Would Trump have been like – oh, great, free money or would he have said that he changed his mind because he realized we’re doing enough or something else? Lol. He’s a fool with a podium.
If anyone is thinking of more local vacation I recommend harrison hot springs resort. It is not a 5* resort but it is comfortable, clean and fun. There are 5 pools at the resort and a huge wibbit on the lake across from the resort. So especially if you have tweens/teens it can be great to drop them off at the wibbit and stroll down the picturesque boardwalk and stop for a glass of wine (or B52 etc…) There are family rooms that have one queen bed and a room with two twin beds (and AC). It has mixed reviews online but we’ve been a few times and always have fun. Also it’s a 40 minute drive to cultus lake waterpark so that’s a fun and doable day trip from the resort.
I talked with my banker at RBC and she said she’s expecting mortgage rates to decline. Maybe we will get lucky with our rate at renewal … again.
To me, the RE focused policies of the last 25 years and green tech for the last 10 were the craziest ever in any country for any time.
Now that economic gravity is taking hold catalyzed by maxing what Canadian income can pay at any rate and catalyzed by Trump shaking the trees, I find Canada aligning with the US the most likely (and best) outcome and a return towards logical allocation of capital and investment in industries that produce things a good outcome. Natural gas for now and more advanced energy tech later. This direction is much more comforting and predictable than waiting to see “how far they will go” with housing policies we all knew were crazy 20 years ago to avoid dealing with the massive tech, infrastructure debt & bureaucracy in our resource extraction industry. I mean 40% of global energy is from coal. Nat gas has a carbon emission of 1/3 that. Canada can reduce global emission by 20x it’s own emission by selling natural gas to replace coal. Lets do that for now and invest those profits in being world leaders in emission reduction technology, not world leaders in taxing our citizens to death to reduce our own tiny emissions.
So for me, that chart is actually upside down. Having Canada’s crazy green virtue signaling debt fueled DEI, censorship pushing hand forced to the sanity of resource extraction, meritocracy and free speech is comforting for me.
If people have all their TFSA and registered accounts maxed then it might be worthwhile to put some towards the mortgage. If you really want to play the not paying your mortgage off game then you should extend your amort back to 30 years and decrease the monthly payments so you have more $ to invest/play.
Given that there is a ton of purpose built rentals coming online (although the prices seem on the high side to me), as well as lowered interest rates bringing some buyers back to the market, I’d also expect rental prices to keep declining, though I doubt it will be sharp.
The cap rates still don’t make sense for an investor vs the market. Bringing that relative illiquidity and landlording hassle to your life when you could just get a safe bond fund paying 4% or S&P ETFs just doesn’t make sense.
Since we stayed variable throughout this whole thing our rate is now 3.85% and I won’t be rushing to pay my mortgage off faster. I also won’t be buying anything from the States given the Tariff threats and awful exchange rate.
According to Craigslist there are about 60 condo listings within a 1 kilometer radius in the downtown core.
The average asking price for a one-bedroom condominium is $2,111 per month with a range of $1,650 to $2,800
The average asking price for a two-bedroom condominium is 2,374 with a range of $1,800 to $3,800
Median sale price in January for a one-bedroom was $478,000 (GRM of 19)
For a two-bedroom downtown condo t was $592,450 (GRM of 21)
For the entire core of 8 kilometers from downtown there are 444 rental listings of all types
Average one-bedroom is $1,841 per month .
Average two-bedroom is $2,440 per month
This time of year there is a lot more inaccuracy in estimating rents as supply in January is usually low with more landlords waiting until February to list their rental. By the start of March the reliability of the data will start to improve.