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The Closing Couch: Vancouver Real Estate Life

Polly Reitze, Kim Taylor, Stories and Strategies

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The Closing Couch isn't just about closing deals; it's about opening doors to healthier, happier living through informed and mindful real estate choices. Hosted by Polly Reitze and Kim Taylor, two seasoned realtors with a wealth of experience in navigating the tumultuous waters of the Vancouver real estate market, The Closing Couch offers a refreshing take on what it means to buy, sell, invest, and own property in one of Canada's most dynamic cities. They understand that engaging with real e ...
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In this episode, we dive into one of the most significant housing policy changes in British Columbia's history: the Small Scale Multi-Unit Housing (SSMUH) legislation and the province-wide densification of single-family home lots - but this time, with 3 different Architectural firms. This is likely the largest rezoning initiative we’ll witness in o…
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In the first week of September, the Vancouver real estate market received an update that reflects significant shifts. August numbers reveal that home prices have dropped even further, with detached homes now firmly in a buyer’s market—a term seldom used in Vancouver. Compounding this, the Bank of Canada (BOC) cut interest rates for the third time, …
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As inflation reaches its lowest level in over three years, the Bank of Canada's (BOC) rate cut predictions are becoming increasingly aggressive. While this might be a relief for mortgage holders, it signals significant economic distress. The BOC may need to cut rates rapidly to prevent a potential global financial crisis (GFC)-level event, but the …
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In this insightful episode, we sit down with Mychal Ferrera from the Bank of Montreal to discuss the latest trends and forecasts in the real estate and mortgage markets. We dive deep into the current market climate, exploring whether the industry is picking up momentum or if the market is still stagnant. Mychal provides an insider's perspective on …
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In this episode, we sit down and revisit the rapidly shifting rental market landscape with returning guest Keaton Bessy, Property Manager and Owner of Greater Vancouver Tenant and Property Management (GVANTPM). The last time Keaton joined the show 8 months ago, rental rates were steadily increasing month after month, with no signs of slowing down. …
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The Bank of Canada (BoC) has recently undergone a significant shift in its monetary policy focus. Over the past two years, the central bank aggressively hiked interest rates to combat soaring inflation. These efforts have largely paid off, as inflation has been brought under control. However, this success has come at a cost—economic growth has been…
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This week has brought significant developments to the Vancouver real estate market, with major changes both locally and internationally that are poised to impact buyers and sellers alike. The Federal Reserve held its key interest rate steady, but signaled potential rate cuts as early as September due to a cooling job market and easing inflation. Th…
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The economic landscape in both the US and Canada is showing significant shifts that have important implications for homeowners, the housing market, and the broader economy. Recently, the Bank of Canada (BoC) made a notable move by cutting interest rates by 0.25%, hinting at further cuts to come. This action aligns with market expectations, with a c…
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In June, inflation unexpectedly dropped from 2.9% to 2.7%, surpassing expectations of 2.8%. Despite this decrease, the shelter cost index remains a significant driver of inflation, with a current increase rate of 6.2%, compared to 4.8% last year. Mortgage interest costs surged by 22%, and rent has increased by 8.8%, marking the highest rise since M…
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In June, inflation in the USA declined by 0.1% to 3%, marking the lowest rate in 12 months and a significant drop from the 9.1% peak two years prior. Despite this improvement, Federal Reserve Chair Jerome Powell emphasized that inflation remains a concern and further positive data is necessary to justify rate cuts. The next Fed announcement is sche…
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The Vancouver real estate market has largely held strong in 2024, with prices rising for the first five months. However, a significant downturn appears to be building. High interest rates for two years, a ten-year low in sales volumes, and a spike in consumer and business insolvencies are all pointing to a decline in real estate prices. The June nu…
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In this engaging and informative video, Dan and Ryan from the Vancouver Life Real Estate Group welcome back Bill Laidler, a multifamily developer with over 500 doors under construction, to discuss the transformative Small Scale Multi-Unit Housing Initiative, also known as the Multiplex Plan. Bill, a pioneer in this initiative, shares his extensive …
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In this episode, we dive into a whirlwind week in the real estate landscape, packed with highs and lows that are enough to make your head spin. Canadians hit a new all-time high in household net worth, while mortgage originations reached record lows. Inflation rose, inventory spiked, and yet housing affordability somehow improved, all amidst rising…
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In this episode, we delve into the upcoming small-scale multi-unit housing initiative in British Columbia, which automatically rezones single-family lots to allow for multiple units to be built on them. This new policy, set to take effect next month, is sparking interest among both homeowners and investors looking to capitalize on the potential new…
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Send us a text Get ready to rethink your mortgage strategy. In this episode, Kim and Polly are joined by Monique Cornish, a mortgage broker affectionately known as "Magical Monique”, exploring how recent rate hikes have dramatically shifted the home buying landscape, slashing purchasing power and reshaping financial strategies. With 19 years of ind…
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Weak GDP growth has been a critical factor influencing the Bank of Canada's decision to cut rates recently, with further cuts likely in 2024. In Q1 2023, GDP growth fell short of expectations at 1.7% compared to the forecasted 2.3%. Additionally, Q4 2022 GDP was revised down to flat, indicating zero growth for the latter half of 2023. On a per capi…
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The Bank of Canada's recent rate cut has been a significant event, widely appreciated by businesses and mortgage holders. This cut was expected by many who hoped for relief amid economic stress. While rate cuts generally indicate a weakening economy, they are crucial for easing monetary policy to support businesses and individuals. The Bank of Cana…
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Send us a text How could the new tax laws impact your real estate investments? Join Kim and Polly as they sit down with real estate guru Jeff Fitzpatrick, who breaks down the latest in capital gains tax changes, federal and provincial flipping taxes, and their potential impact on Vancouver's real estate market. Listen For: 01:24 - Capital Gains Tax…
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Canada's population has surpassed 41 million, growing at a rate of approximately 4,000 people per day, equating to nearly 1.5 million per year according to StatCan's real-time tracker. This indicates a significant increase, with 480,000 people added in the past two months alone. If this growth rate persists, it will surpass the federal government’s…
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Inflation has decreased to 2.7% this month, down from 2.9% the previous month. This marks the lowest inflation rate in over three years, specifically since March 2021. At that time, the overnight interest rate was 0.25%. Despite this improvement, shelter costs continue to drive inflation, with increases at 6.4%, up from 4.9% last year. Mortgage int…
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Send us a text Welcome to The Closing Couch. Real estate veterans Kim Taylor and Polly Reitze kick off their debut episode with infectious enthusiasm and a wealth of insider insights. They share their individual journeys into real estate, recounting early career challenges, memorable deals, and the joys of working with friends. Their camaraderie sh…
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Despite growing concerns about Canada's economy, including a meager increase in GDP and dwindling consumer confidence, the Bank of Canada (BOC) has yet to implement a rate cut. The lack-luster GDP rise of 0.2% in February fell short of the projected 0.4%, with early data for March indicating stagnation. As a result, Q1 GDP growth is expected to rea…
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In our discussion with the number 1 mortgage specialist across the country for the Bank of Montreal, we're diving into the heart of the economic landscape, starting with the elephant in the room: interest rates. We discuss the divergence in policy between the US and Canada how it sets the stage for a nuanced debate on balancing growth and while com…
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In April 2024, the Vancouver real estate market experienced an unprecedented surge in inventory, reaching its highest point in four years. This surge was particularly notable given the market's recent trends and economic uncertainties. The sudden influx of properties for sale had significant implications for both buyers and sellers, prompting a re-…
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The recent developments in the Canadian housing market paint a daunting picture, especially in light of the ambitious promises made in Budget 2024. The government's pledge to construct an additional 2 million homes over the next 7 years appears increasingly improbable when examined against the current realities across various industries. Consider h…
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The Consumer Price Index (CPI) for March revealed a 2.9% year-on-year increase, slightly up from February's 2.8%, primarily driven by surging gasoline prices. However, the report unveiled a concerning trend in the Bank of Canada's preferred measures of core inflation. Both CPI median and CPI trim not only declined on a 12-month basis but also fell …
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In a landscape of economic uncertainty and shifting market expectations, the Bank of Canada's decision to maintain its overnight rate at 5% on Wednesday marks the sixth consecutive hold. This is solidifying a rate that has remained unchanged since July, now spanning nine months. With the next announcement slated for June 5th, Canadians are hoping t…
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In March 2024, the Canadian housing market experienced another notable increase in home prices, particularly in the condominium segment, which reached a new all-time high. This surge in prices reflects ongoing trends in the housing market, characterized by persistent demand and limited supply. The condominium market's resilience, despite broader ec…
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The recent announcement by the Immigration Minister to cap growth targets in Canada underscores the profound impact of immigration on the nation's demographic landscape. Over the past two years, Canada has experienced significant population growth, largely attributed to the influx of temporary workers and foreign students, which has exerted immense…
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This week's economic and real estate roundup unveils a surprising twist in inflation rates, dipping to 2.8% from the previous month's 2.9%, and landing well below the anticipated 3.1%. This unexpected shift marks a pivotal moment, with grocery prices rising a modest 2.4%—the smallest increment since July 2021, signaling a potential easing of living…
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Send us a text Introducing... THE CLOSING COUCH! Vancouver Real Estate Life. The Closing Couch isn't just about closing deals; it's about opening doors to healthier, happier living through informed and mindful real estate choices. Hosted by Polly Reitze and Kim Taylor, two seasoned realtors with a wealth of experience in navigating the tumultuous w…
  continue reading
 
Today's episode is a little different as we decided to take opposing views of the current economic landscape and we discussed both the positive and the negative elements that are currently affecting the real estate market in Canada. We touch on 5 broad subjects and dive into the current economic climate that has presented a world of challenges incl…
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In this episode, we unpack the latest developments in Vancouver's real estate market and the broader economic landscape. Home prices in Vancouver have experienced an unexpected surge, breaking a six-month downward trend. Despite this, the Bank of Canada (BOC) has maintained its interest rates at 5%, leading to alarming trends such as increased mort…
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The latest episode of the Vancouver Life Podcast provides an analytical overview of the pressing issues affecting the Vancouver real estate market. The episode covers a wide array of topics, including the anticipation of interest rate cuts, the introduction of a new flipping tax, the dramatic decrease in building permits, and the numerous obstacles…
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In this comprehensive economic update, we delve into the key factors shaping Canada's financial landscape. Join us as we explore the recent developments in inflation, corporate bankruptcies, the rental market, sentiment, and mortgages, providing you with a nuanced understanding of the current economic climate. Canada's annual inflation rate unexpec…
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In this episode of the Vancouver Life Podcast we dive into the innovative realm of real estate investment with our guest, Jonathan Fireman. Jonathan shares his vision behind Investium, a platform aimed at democratizing real estate investments by facilitating collective property purchases. This approach aims to make real estate investment more inclu…
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In the insightful episode of the Vancouver Life Podcast we tackle the groundbreaking rezoning legislation poised to reshape the British Columbia real estate landscape. This legislation, referred to as the Plex Plan, is described as the single largest rezoning initiative in the province's history, impacting hundreds of thousands of properties and ai…
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In January, the real estate market exhibited notable trends, providing insights into the trajectory of 2024. Total sales reached 1,427, marking a 39% increase from January 2023 and a 7% rise from December. However, this figure fell 20% below the 10-year seasonal average, signaling a slow start akin to the latter half of 2023. New listings surged to…
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In today’s episode, we're diving deep into the world of economics and financial forecasting with none other than Doug Porter, a luminary with over three decades of experience in analyzing global economies and financial markets. As the Chief Economist at BMO Financial Group and the mastermind behind the influential publication 'Talking Points', Doug…
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In this insightful episode we engage in an in-depth discussion about the complexities and challenges of the Vancouver real estate rental market. The episode features a compelling narrative from Jeannie Ball, a landlord who recounts her tumultuous journey dealing with a rental property. This journey, fraught with challenges, leads her from confronta…
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Join us on this episode as we dive into an insightful discussion with Patrick Francey, CEO of the Real Estate Investment Network (REIN), renowned Canadian real estate investor, business owner, educator, and coach. With over 40 years of experience, Patrick is a luminary in real estate investment education and personal and professional development. H…
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In this exclusive interview, we delve into the wealth of experience and expertise of Kyle Green, a renowned mortgage broker and investment property specialist. Since 2006, Kyle has been a pivotal figure in the real estate finance sector, especially known for his work with the Real Estate Action Group and numerous other investors. His accomplishment…
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Over the past two years, Canada has witnessed an unprecedented surge in its population which has recently garnished a lot of attention due to its significant consequences on various aspects in the country. This surge has been fueled by headlines surrounding escalating home prices and rising rents, leading to a further exploration of its implication…
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The real estate market in 2024 has seen a surge in activity since January 1st marked by increased optimism not witnessed in almost a year. In this episode we look at several factors that are contributing to this shift, with a primary focus on the Bank of Canada's anticipated actions, fixed mortgage rates, Toronto's unique market dynamics, the renta…
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In our first episode of 2024, we dive into the December stats to wrap up 2023 and present our predictions for the year ahead. This podcast episode covers two exciting topics: the year-end Vancouver Housing statistics and our predictions for 2024, focusing on economic drivers and real estate trends. Starting with the December stats, noting that tota…
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In our latest episode, we ventured back in time to the start of 2023 to review the predications we made about how Real Estate in 2023 would unfold. Beginning with Marco economic drivers, global trends and then backing down into the local economic real estate market. We made bold predictions and share insights on various economic fronts some with gr…
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In Canada, the third-quarter population growth has reached historic levels, with a quarterly increase of 431,000 people! This marks a 1.1% growth rate, the highest since 1957. The annual growth rate is 1.25 million people, or 3.2%! However, this growth contrasts with a 22% decrease in housing starts from the previous year, posing a significant chal…
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The Federal Reserve's recent decision to maintain interest rates during their final meeting of the year has ignited discussions in financial circles. While the decision itself was expected, the surprise came with the central bankers' projections for 2024. The Fed now anticipates a total of 75 basis points in rate cuts next year, indicating a depart…
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This week's podcast has us looking into a number of pretty big changes taking place in our economy this month, along with a close examination of both the November Real Estate Stats for Vancouver and the impact of the decision by the BOC, to further hold rates. With the BoC having maintained interest rates at 5%, in line with expectations due to a s…
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This week we dive deep into the real estate landscapes of Toronto and Vancouver, Canada's largest real estate cities with Merete Lewis, an Agent with Chestnut Peak Real Estate out of Toronto. We dissect the recent trends and statistics that are shaping both property markets and we look at which city is fairing better under the current economic clim…
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