In BC, the affordability debate centered on home prices, but incomes also mattered when judging whether homeownership was realistically within reach for buyers.
BC's provincial government proposed taxing newly completed condos left vacant and unsold, aiming to move standing inventory and encourage lower pricing for buyers.
The BC market was already correcting, while slow sales, minimal presales, and high construction and financing costs left developers needing inventory to move.
In BC, Real Estate and construction directly accounted for ~28% of GDP, and construction alone supported >190K jobs, tying affordability closely to incomes.
The broader BC takeaway: keep addressing housing cost and supply, while also strengthening incomes through investment, productivity, job creation, and a more diversified economy.

Halloween falls on October 31 because the ancient Gaelic festival of Samhain, considered the earliest known root of Halloween, occurred on this day.
In the eighth century, Pope Gregory III designated November 1 as a time to praise all saints.
Soon, All Saints' Day incorporated some traditions of Samhain and the evening before was known as All Hallows Eve, and later Halloween.
Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
Today’s the day to eat candies and sweets to your heart’s content! Happy Halloween!

As someone who has spent more than three decades navigating real estate markets in the Fraser Valley, Lower Mainland, and Surrey, I’ve seen my share of headlines about affordability shifts—like recent reports suggesting that Canada’s affordability has improved as fixed rates rise. However, when you look closer, the national data doesn’t actually provide any specific figures for our local area. There are no detailed numbers on home prices, mortgage rates, or sales activity for individual towns, and no benchmarks for qualifying income or monthly payments here. Even the national mortgage stress-test conversation remains broad, without practical guidance for how a buyer or seller in our region might be affected. The only honest takeaway for us is to approach such broad statements with caution—without local data, it’s impossible to draw meaningful conclusions about our housing market. My focus remains on providing you with clear, practical advice rooted in our local realities.

With 33 years of guiding clients through the twists and turns of the BC real estate market, I've learned that every month tells its own story. Right now, standing inventory across the province has reached 6,700 homes—5,500 of those are condos. This covers a mix of condos, townhomes, and some multiplex units, and the available options stretch well beyond just the major hubs. Burnaby tops the list with 1,210 unsold homes, followed by Vancouver with 1,020, Surrey at 798, and Coquitlam at 620. Richmond, Kelowna, Langley Township, New Westminster, and Delta each have substantial numbers as well, with inventory clearly spread across BC. Secondary markets like Langford, Esquimalt, North Vancouver, Abbotsford, and Chilliwack contribute to a combined 5,840 units in these tracked cities. While it's often said that studios and one-bedrooms are driving presale numbers, if you look at the broader data—both in size and average price—there’s a more nuanced story unfolding. As always, careful analysis and local insight matter when considering your next move.

With over three decades of helping clients navigate changing markets across the Fraser Valley, Lower Mainland, and Surrey, I’ve seen how interest rate shifts can influence every real estate decision. The Bank of Canada is holding rates at 2.25% for now, but major banks are forecasting gradual increases for 2027. If our economy continues to strengthen and inflation sticks around, policymakers might have room to normalize rates. For homeowners and buyers, higher rates mean increased borrowing costs. For those focused on savings or fixed-income investments, there could be improved returns. It’s a moment to prepare for a more challenging lending environment, weighing the benefits of growth against higher interest costs. My approach has always been to provide steady, practical guidance—so as these shifts unfold, I’m here to help you make informed decisions that suit your needs.