Category Archives: Economy

Most Vancouver houses sold below assessment in March

By ThinkPol Staff Well over half of all Vancouver detached houses sold below assessment in March, with some going as low as 22% below, making it the second month in row that a majority of Vancouver single family homes sold

Speculation tax doesn’t go far enough, Burnaby councillor says

By Drew Penner Burnaby councillor Nick Volkow is newly single. His life changed forever when his wife passed away a year-and-a-half ago. In recent days he’s been pondering the next steps in his own life. But the 22-year Council veteran

Hope on the horizon for Vancouverites trying to get into the housing market?

By ThinkPol Staff There may be hope on the horizon for prospective condo buyers in Metro Vancouver trying to get a foothold in the region’s runaway housing market, a Vancouver realtor says. Even as the single family home market enters

BC exempts vacation homes from speculation tax

By Drew Penner The bureaucrats have done their tinkering and the new-and-improved levy on people taking advantage of hot West Coast real estate has been unfurled. BC Finance Minister Carole James said despite revising speculation tax rules to exclude a

Vancouver father battles Airbnb, questions city’s plan to pour $46 million into building affordable housing while doing little to crack down on short term rentals

By Drew Penner Brette Mullins is a father who’s had to look at switching jobs in order to provide better housing for his family. And then there are the menacing attacks. “I get threatening emails once and awhile,” he said,

Massive commercial operators continue to run illegal Airbnb hotels in Vancouver despite City of Vancouver’s “crack down”

Suite Living, who claim to be one of the largest furnished rental companies in Vancouver, has been promoting multiple STRs in Vancouver and Richmond through their website and Airbnb. Currently, it remains illegal to run STRs for less than 30

Realtors question legality of new taxes as foreign buyers exit cooling Vancouver housing market giving locals hope

By Drew Penner Within real estate circles, the effect of new taxes aimed at foreign buyers cashing in on Vancouver’s superheated housing market has been palpable. Shawn Anderson, a realtor with Engel & Völkers Vancouver, says the change has been

Vancouver vigilante tells illegal Airbnb operators to stop being “social parasites,” gets results

By ThinkPol Staff A Vancouver vigilante who sends private messages to illegal Airbnb operators in the city asking them to stop being “social parasites” has convinced at least one such host to put a unit back on the long term

Nearly 3 in 4 Vancouver houses sold for below asking in February

By ThinkPol Staff Nearly three in four Vancouver detached houses sold for less than the asking in February, with over half going for below assessment, MLS sales data show. The MLS sales data, jealously guarded by the real estate industry,

Hong Kong tycoon linked to offshore tax havens flipping $18M Vancouver house through shell company

By ThinkPol Staff A Hong Kong property tycoon known as the “King of Shell Companies,” whose name appears in the Offshore Leaks database of tax haven clients, is trying to sell a house in Vancouver Westside for $18.88 million after