Month: April 2019
Uncategorized
North Vancouver’s commercial Airbnb operators
City of Vancouver is not the only municipality in the Lower Mainland with a serious Airbnb infestation. Contrary to Airbnb’s narrative that the platform is only used by empty nesters renting out short term a “spare bedroom” to “make ends” meet, short term rental business in North Vancouver is also dominated by commercial operators. Here […]
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Uncategorized
Vancouver home sellers in denial as the market edges lower
An analysis of asking prices for the 860 currently active detached home listings for Vancouver show that the vast majority of home sellers are in denial about the real estate market cool down. In March 2019, three out of four homes sold below current assessment, with the median sale price for a used detached house […]
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Uncategorized
Foreign buyers’ impact denying developer’s condo project goes on sale in Hong Kong
A condo project by a developer who has long denied the impact of foreign buyers on Metro Vancouver’s housing market has gone on sale in Hong Kong. Pre-sales buyers in Hong Kong will get deep discounts and rental guarantees for Domus Homes’s Ovation project in New Westminster at an exclusive two-day sales event this weekend. […]
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Featured
3 in 4 Vancouver houses sell below assessed as market continues to tumble in March 2019
Vancouver’s housing market meltdown carried on into March 2019 as 74 out of the 99 homes sold in 2019 selling below 2018 assessment, with the median sale price for a used detached house plunging to nearly 7% less than the assessed value. While the slump is most acute in the Westside, some houses even in […]
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Featured
Vancouver’s commercial Airbnb operators
Despite Airbnb’s narrative that the platform is only used by empty nesters renting out short term a “spare bedroom” to “make ends” meet, short term rental business in Vancouver is dominated by commercial operators. Here are commercial operators who list five or more entire homes/apartments on Airbnb for less than 30 days. All these listings […]
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Featured
Vancouver flippers flopping in Q1 2019
All 13 Vancouver house flips ended up with the flipper losing money in the first quarter of 2019, with many selling for double digit percentage losses. In comparison, only 3 out of the 15 flips in the first quarter of 2018 were loss making. Other municipalities in Metro Vancouver didn’t fare much better either. OpenHousing […]
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