Housing

Vancouver is the least affordable city according to a new report from Royal Bank of Canada. THE CANADIAN PRESS/Darryl Dyck Vancouver is the least affordable city according to a new report from Royal Bank of Canada. THE CANADIAN PRESS/Darryl Dyck

$7 out of every $10 earned goes towards mortgage payments in Victoria: report

B.C. Liberals pounced on the report, while NDP said help is underway

 

Houses are covered with snow as the downtown skyline is seen in the distance, in Vancouver, on Wednesday, December 21, 2022. The British Columbia Real Estate Association says the chill across the province’s real estate sector will drag on through 2023, but it calls for a strong rebound next year. THE CANADIAN PRESS/Darryl Dyck

Gloomy economic outlook, elevated mortgages drag down 2023 B.C. housing market: BCREA

Conditions are expected to rebound in 2024

 

Mayor Lisa Helps speaks during a vigil in Victoria on January 31, 2017. Helps says she’s disappointed in the poor judgment exercised by a member of council who travelled outside of Canada during the COVID-19 pandemic. THE CANADIAN PRESS/Chad Hipolito

Appointment of former Victoria mayor as housing adviser draws wide range of reactions

Lisa Helps will help develop housing for middle income families

 

Victoria Fire Chief Paul Bruce and Mayor Lisa Helps tour the fire hall site. (Courtesy of City of Victoria)

Former Victoria mayor tapped to advise the premier on housing solutions

Lisa Helps appointed Premier David Eby’s housing solutions adviser

Victoria Fire Chief Paul Bruce and Mayor Lisa Helps tour the fire hall site. (Courtesy of City of Victoria)
Shelter costs in Kelowna only differ by $78/month between renters and owners. (@khzny/Twitter)

Under $80 difference between rent, mortgage prices in Kelowna the smallest in Canadian major cities

Shelter costs are just $78/month more as a homeowner

Shelter costs in Kelowna only differ by $78/month between renters and owners. (@khzny/Twitter)
Toni Russell holds up a copy of Bill 44, which removed the ability for stratas to ban rentals or use 19+ age restrictions. Now the strata at Cherry Lane Towers where she lives is trying to turn the condo complex into a 55+ community. (Brennan Phillips - Western News)

Okanagan senior fighting to keep condo strata from becoming 55+ only

Toni Russell is concerned about the impact to her financial future

Toni Russell holds up a copy of Bill 44, which removed the ability for stratas to ban rentals or use 19+ age restrictions. Now the strata at Cherry Lane Towers where she lives is trying to turn the condo complex into a 55+ community. (Brennan Phillips - Western News)
The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)

Banking regulator launches consultations on mortgage rules, proposes additions

Possible changes to existing stress test would aim to reduce overstretched borrowers

The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)
FILE - B.C. announced a $500 million Rental Protection Fund on Jan. 12. (AP Photo/Matt Rourke, File)

Eby following through on $500M promise to put more rentals in hands of B.C. non-profits

Funds aim to take control away from speculators looking to bump up prices or evict tenants

FILE - B.C. announced a $500 million Rental Protection Fund on Jan. 12. (AP Photo/Matt Rourke, File)
A house for sale sign. (Paul Henderson/ Chilliwack Progress)

B.C. analyst says new real estate cooling-off period tilts power towards buyers

New rescission period takes effect Jan. 3

A house for sale sign. (Paul Henderson/ Chilliwack Progress)
B.C. Minister of Housing and Government House Leader Ravi Kahlon speaks during an announcement in Vancouver on December 14, 2022. THE CANADIAN PRESS/Darryl Dyck

B.C. doubling staffing of unit that resolves landlord-tenant disputes

Complainants sometimes waiting months for decisions to be made

B.C. Minister of Housing and Government House Leader Ravi Kahlon speaks during an announcement in Vancouver on December 14, 2022. THE CANADIAN PRESS/Darryl Dyck
Terrace Mayor Sean Bujtas (right) gaining entry to the managers’ office at Coachman Apartments. (Submitted photo)

Crisis at Terrace apartment building as water pipes burst amid freezing weather

Emergency support services assisting displaced tenants

Terrace Mayor Sean Bujtas (right) gaining entry to the managers’ office at Coachman Apartments. (Submitted photo)
Tents and people are seen at a homeless encampment at Crab Park below the towers of the downtown skyline in Vancouver, on Sunday, August 14, 2022. THE CANADIAN PRESS/Darryl Dyck

B.C., Vancouver partner to build modular housing for Downtown Eastside residents

90 temporary units to be ready by March 2023

Tents and people are seen at a homeless encampment at Crab Park below the towers of the downtown skyline in Vancouver, on Sunday, August 14, 2022. THE CANADIAN PRESS/Darryl Dyck
An advertising sign for building land stands in front of a new home construction site in Northbrook, Ill., Wednesday, Sept. 21, 2022. From rising home prices to soaring interest rates, it’s a daunting time to be a home buyer. To achieve homeownership, some single buyers are trying a different approach: co-buying with friends or family members. But co-buying isn’t a short-term hack – it’s a lifestyle shift. Before you team up, experts recommend having vulnerable conversations about your finances and long-term goals. If you have patience to navigate the obstacles, co-buying can be a uniquely satisfying way to own a home. Plus, for those who are single, the investment comes with an inflation-proof dividend: companionship. (AP Photo/Nam Y. Huh)

Co-buying a house: How platonic partners make it work

Co-buying requires extra planning and paperwork but some friends are making it work

An advertising sign for building land stands in front of a new home construction site in Northbrook, Ill., Wednesday, Sept. 21, 2022. From rising home prices to soaring interest rates, it’s a daunting time to be a home buyer. To achieve homeownership, some single buyers are trying a different approach: co-buying with friends or family members. But co-buying isn’t a short-term hack – it’s a lifestyle shift. Before you team up, experts recommend having vulnerable conversations about your finances and long-term goals. If you have patience to navigate the obstacles, co-buying can be a uniquely satisfying way to own a home. Plus, for those who are single, the investment comes with an inflation-proof dividend: companionship. (AP Photo/Nam Y. Huh)
A rental housing development is shown in Vancouver, Monday, Feb. 11, 2019. Royal Bank of Canada economists say the country has reached a record number of renters as the number of people renting has increased at three times the rate of homeowners in the past decade. THE CANADIAN PRESS/Jonathan Hayward

Renting increased by three times the rate of home ownership in last decade: RBC

Millennials born between 1981 and 1996 are fuelling some of the renting growth

A rental housing development is shown in Vancouver, Monday, Feb. 11, 2019. Royal Bank of Canada economists say the country has reached a record number of renters as the number of people renting has increased at three times the rate of homeowners in the past decade. THE CANADIAN PRESS/Jonathan Hayward
October 13, 2022 - Alan Jackson photographed at his Nexus Modular Solutions offices and factory in Cobble Hill. Don Denton photo

The future is modular

Nexus Modular in place to meet housing shift

  • Dec 7, 2022
October 13, 2022 - Alan Jackson photographed at his Nexus Modular Solutions offices and factory in Cobble Hill. Don Denton photo
Snow-covered houses and the downtown skyline are seen after a snowstorm, in Vancouver on November 30, 2022. British Columbia’s property assessment agency is warning homeowners that figures released next month will likely be higher than the current market value.THE CANADIAN PRESS/Darryl Dyck

B.C. property assessments higher, but market has changed: assessor

Homeowners warned they are about to receive assessments that won’t reflect current values

Snow-covered houses and the downtown skyline are seen after a snowstorm, in Vancouver on November 30, 2022. British Columbia’s property assessment agency is warning homeowners that figures released next month will likely be higher than the current market value.THE CANADIAN PRESS/Darryl Dyck
In this image taken from video, Canadian law enforcement personnel surrounded a residence on the James Smith Cree First Nation reservation in Saskatchewan on Tuesday, Sept. 6, 2022, as they search for a suspect in a series of stabbings. The federal government is to spend $1.2 million to repair and replace houses damaged during the stabbings. THE CANADIAN PRESS/AP-Robert Bumsted

Ottawa to spend $1.2 million to replace and repair homes after mass stabbing

Houses became crime scenes after 11 people died and 18 were injured

In this image taken from video, Canadian law enforcement personnel surrounded a residence on the James Smith Cree First Nation reservation in Saskatchewan on Tuesday, Sept. 6, 2022, as they search for a suspect in a series of stabbings. The federal government is to spend $1.2 million to repair and replace houses damaged during the stabbings. THE CANADIAN PRESS/AP-Robert Bumsted
B.C. Premier David Eby makes an announcement in Vancouver, on Sunday, November 20, 2022. British Columbia’s Opposition Liberals are calling for independent audits of two social housing providers as the premier marks his first days in office laying out his vision to tackle the housing crisis. THE CANADIAN PRESS/Darryl Dyck

Opposition demands audits of B.C. housing providers as Eby lays out more home plans

Liberal leader Kevin Falcon independent review needed after says leaked reports show mismanagement

B.C. Premier David Eby makes an announcement in Vancouver, on Sunday, November 20, 2022. British Columbia’s Opposition Liberals are calling for independent audits of two social housing providers as the premier marks his first days in office laying out his vision to tackle the housing crisis. THE CANADIAN PRESS/Darryl Dyck
FILE - Premier David Eby announced his plan to create a new ministry solely devoted to housing on Nov. 22, 2022. (Credit: THE CANADIAN PRESS/Chad Hipolito)

Eby to create new ministry solely devoted to B.C. housing crisis

Housing currently overseen by attorney general

FILE - Premier David Eby announced his plan to create a new ministry solely devoted to housing on Nov. 22, 2022. (Credit: THE CANADIAN PRESS/Chad Hipolito)
B.C. Premier David Eby announces a new public safety plan in Vancouver, on Sunday, Nov. 20, 2022. Eby is expected to announce his government’s plans to take on the housing affordability crisis today. THE CANADIAN PRESS/Darryl Dyck

B.C. Premier David Eby to lay out plans to tackle housing affordability crisis

Eby was housing minister before running for premier

B.C. Premier David Eby announces a new public safety plan in Vancouver, on Sunday, Nov. 20, 2022. Eby is expected to announce his government’s plans to take on the housing affordability crisis today. THE CANADIAN PRESS/Darryl Dyck