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UDI/Vancity Housing Affordability Index: In Vancouver, family-friendly condos rare and expensive

Bethany Lindsay, Vancouver Sun, February 12, 2016

METRO VANCOUVER — For the average young family living in Metro Vancouver, price tags for detached homes have climbed so high that there is little hope of ever being able to afford one.

And the alternatives — condos or townhouses with enough bedrooms for the children — are hard to come by in this part of B.C. The Canadian National Occupancy Standard holds that three-bedroom homes are the best choice for couple with two children,

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Victoria’s affordable homes prompting early moves out of Lower Mainland

Kerry Gold, The Globe and Mail, Jan. 29, 2016

Rob Adamson typifies many average-income-earning homeowners who have cashed out of the Lower Mainland at an early age.

They are part of the drive behind a spike in sales for Victoria-area housing. The Greater Victoria market has seen a an overall increase of 21.7 per cent in detached-house sales in December, 2015, compared to December, 2014, according to the Victoria Real Estate Board.

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53 neighbourhoods join Metro Vancouver’s million dollar club

Joanne Lee-Young, Vancouver Sun, January 5, 2016

The average value of detached homes has broken through $1 million in more than 50 additional Metro Vancouver neighbourhoods, 2016 assessment figures show.

“It’s a little, depressed area,” Realtor Jason Weinman said of the Multiple Listing Service-defined zone of Lynnmour on the North Shore. There’s not much to this zone between the end of the Ironworkers Memorial Bridge and Capilano University,

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Metro homeowners face tax hit from rising property assessments

Derrick Penner, Vancouver Sun, January 4, 2016

Increases in property assessments pushed as many as 55,000 British Columbia homeowners over last year’s $1.1 million threshold for receiving the provincial homeowners grant on their property tax prompting a new call for the government to revise the program to cushion the impact of a hot real estate market.

BC Assessment on Monday released 2016 assessments for some two million properties and hot markets in the Metro Vancouver pushed residential assessed values to some of their biggest increases in more than 30 years,

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Detached houses becoming scarcer commodity in Vancouver region

Brent Jang, The Globe & Mail, Nov 10, 2015

Single-family detached houses are becoming an ever-shrinking portion of the total housing stock in the Vancouver region, adding to pricing pressures in an already hot market.

The share of detached houses as a percentage of all residential properties in the region has tumbled from 65 per cent in 2000 to 54 per cent last year, Central 1 Credit Union senior economist Bryan Yu said Tuesday.

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Vancouver housing market fuelled by Chinese buyers

Kerry Gold, The Globe & Mail, Nov 2, 2015

A new study that puts data behind the widely held but difficult-to-prove assumption that off-shore money is driving Vancouver’s superheated housing market has concluded the vast majority of houses on the city’s affluent west side have been bought by new immigrants from China, many of whom don’t earn their living here.

The data were obtained by David Eby, the NDP MLA for Vancouver-Point Grey.

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Rising tide of Vancouver house prices lifting values throughout region

Kerry Gold, The Globe and Mail, Oct. 24, 2015

Picture a map of the Lower Mainland and a growing wave moving outward from Vancouver, and you will get a general sense of increasing house prices.

The $1-million line used to divide the east side of the city from the west, and then it crept all the way to Burnaby. Now, it’s moving like a rapidly rising tide,

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Landcor Data Corporation: Leading the Way to Progress and Success

Rudy Nielsen, The Scrivener, Fall 2015

NIHO Land & Cattle Company president Rudy Nielsen was recently featured in the Fall 2015 issue of the Scrivener.

To read the article, click here.

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Equity generation’ squeezing retirees’ savings

Kerry Gold, Globe & Mail, July 17, 2015

Sarah and her husband had done everything right for retirement, squirrelling away savings, paying down the mortgage on their condo and not touching their line of credit.

However, when their daughter ran into financial trouble, they started paying her mortgage as well as other expenses. When their daughter got divorced, they stepped up the support, fearing that their young grandchildren would suffer.

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Vancouver inventory squeeze finds buyers panicked, sellers anxious

Kerry Gold, The Globe and Mail, June 19, 2015

Emma Co has been a real estate agent for several years in Vancouver, but she’s never seen the market so fired up, particularly on the city’s east side.

“I can’t believe this market,” she said, seated in a coffee shop near Kingsway and Fraser. “I was talking to one realtor, and she said, ‘where is this going?’ “

It’s a reasonable question,

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