B.C. real estate watchdog issues public alert as Langley condo development ordered into receivership

B.C.’s real estate watchdog has issued its first public consumer alert in four years, following a B.C. Supreme Court decision this week to send a troubled Langley condo development into receivership.As Postmedia reported earlier in the week, longtime Metro Vancouver condo developer Mark Chandler was trying to keep Murrayville House, his 92-unit Langley condo development, out of receive [...]

07 October 2017

Canada Revenue Agency targets more Vancouver pre-sale condo contracts

The Canada Revenue Agency (CRA) is taking more developers to court for information identifying pre-sale condo buyers who assigned their purchase contracts before completion. The move comes after the CRA successfully obtained court orders in July against the companies behind Marine Gateway and the Residences at West. The latest federal court applications take aim at pre-sale buyers of units in West [...]

07 October 2017

Too many bedrooms: Single-family zoning contributes to housing shortage, UBC expert says

There may be no place for the state in the bedrooms of the nation, but that’s not stopping sociologist Nathan Lauster.The associate professor at the University of B.C. recently examined how Metro Vancouverites use their bedrooms in order to find solutions to the local housing crisis.Using Statistics Canada data, Lauster counted 459,994 extra bedrooms in homes across Metro, estimat [...]

02 October 2017

Is Vancouver in a retail real estate crisis?

VANCOUVER (NEWS 1130) – Have you noticed more stores with “For Lease” signs hanging from the door when you go shopping in Vancouver?A recent story in Vancouver Magazine suggests we’re headed towards “retail ghost towns,” saying you’re more likely to see those signs dotting trendy shopping districts like South Granville than you are to see luxury brand stores.The article poi [...]

16 September 2017

No change in housing market from July to August: B.C. Real Estate Association

The B.C. Real Estate Association says home sales in August were up 2.4% from the same month a year ago, and the total sales dollar volume of $6.2-billion was up by 22%READ MORE: Metro Vancouver housing sales up in AugustThe average price was also up 19% from August of 2016 to $678,186.Association Chief Economist Cameron Muir says home sales in August were unchanged from July.He says [...]

15 September 2017