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NEWS-CLIPS May 16/2019 – June 19/2019 90 billion in lost home value in Metro Vancouver over the past year.pdf A Brief History of the Invention of Plastics.pdf Most BC residents are not ready for a major disaster.pdf Adequate housing is hard without a home.pdf Mountain biker suffers spinal injury in Seymour fall.pdf Affordable housing studied for North Shore Neighbourhood House site.pdf New 32-million dollar Seabus arrives in Vancouver.pdf All torn up about Edgemont paving.pdf New Condos Are Way More Expensive Than Resale.pdf Behold and beholden.pdf Newer condo buildings using more energy.pdf Blurred lanes.pdf newest-housing-data-indicate-we-likely-arent-in-a-housing-bubble.pdf Burnaby lists 10 quick starts for affordable housing.pdf No consensus on Cloverley traffic calming.pdf Burnaby unveils stunning rental-only zoning.pdf North Shore coaches set the bar high for para athletes.pdf Canada wants to ban single-use plastic - how that works in Europe.pdf North Van bridge replacement behind schedule.pdf Court rejects snowboarder injury suit against Grouse Mountain.pdf North Van Casano-Loutet overpass.pdf Cycling senior proves the power of the bicycle.pdf North Van industry sounding alarm over tax hit.pdf Cyclists and SeaBus passengers on collision course.pdf North Van track coach will run 250 laps after losing bet with his team.pdf Developer pitches Capilano University staff and student housing.pdf Notice - CNV about 2018 Annual Report.pdf District debates whether councillors should disclose developers donations.pdf Notice - Delbrook Lands 6pm June 18th open house.pdf District of North Van approves development of Handsworth Secondary rebuild.pdf Notice - DNV 2018 Annual Report.pdf District of North Van squares off in court with expropriated owner.pdf Notice - DNV on Outdoor Burning Prohibition.pdf DNV - council chance to set a high ethical standard.pdf Notice - DWV 2018 Annual Report.pdf DNV councillor call for new rules on campaign cash goes in circles.pdf Notice - PIM for 3 townhomes for 840 St. Denis Ave.pdf DNV politician wants council members to disclose developer associated donations.pdf Notice - Port of Vancouver - Lynnterm Terminal Upgrades.pdf DNV puts extra 741K dollars into East 29th.pdf Notice - Temporary Use Permit for 1537 Rupert Street.pdf DNV seeks court order to force resident to move.pdf Notice - Temporary Use Permit for 1932 Glenaire Dr.pdf DNV seeks to remove woman standing in way of project.pdf Notice - Temporary Use Permit for 2517 Mountain Hwy.pdf Driving an electric vehicle will save thousands.pdf Notice -Open House -Maplewood Development.pdf Electric bicycle laws - Wikipedia.pdf Owners dont live in close to 1 in 4 West Van homes.pdf Elephants in the room are challenging housing availability and supply.pdf Pain at the pump.pdf Emery demoviction aftershocks.pdf Plastic ban is a dumb idea.pdf Expert expects condos to flood market.pdf Port Coquitlam mayor wants Skytrain extended to his city.pdf Expropriated North Van owner given 10 days to move.pdf Province to review port tax regime amid business concerns.pdf Full impact of money laundering hits home.pdf Radar love.pdf Fundraising campaign resumes for West Van track and sports facility.pdf Rapid transit could be North Shore ticket out of gridlock.pdf Gazelle dutch-style e-bikes will eat cars.pdf Real estate market - primed for a comeback.pdf Handsworth awaiting development permit to start work on school rebuild.pdf Revolving doors.pdf Hoping the poorly paved sidewalks are improved.pdf Seaspan to build 16 more Coast Guard ships says Trudeau.pdf Horgan talks housing-affordability.pdf Topped out.pdf Horseshoe Bay businesses are ditching single-use plastic bags.pdf TransLink increasing service for 26 overcrowded routes.pdf Housing Market Health - Five Indicators.pdf Trials of trail etiquette.pdf How Speed Limits are Set in BC.pdf Tunnel visions.pdf Lack of signage dangerous for North Shore bikers.pdf UPDATED map of Metro Vancouver housing market slowdown.pdf Let us extend North Shore B-Line services in North Van.pdf Vacancy rate for BC seniors housing and rents are up..pdf Life in plastic.pdf Vancouver wood building would be world tallest.pdf Life is full of uncertainties.pdf Victoria to offer free transit for those under 18.pdf Love them or hate them - financial case for bike lanes.pdf West Van council votes to top up pay.pdf Maplewood Innovation District on ice.pdf West Van denies it is up Five Creeks without a paddle.pdf Metro Vancouver condos are getting smaller - Statcan.pdf West Van interim tree bylaw is too restrictive.pdf Metro Vancouver home sales jump but prices slip.pdf West Van tightens tree protections.pdf Mining supports economic activity on the North Shore.pdf Why are Metro Vancouver home values falling.pdf Money laundering letter.pdf Wilkinson announces federal plan to ban single-use plastic.pdf Montreal project of 1000 social housing units.pdf Woodlands garbage a black bear beacon.pdf Montreal to propose new rules to increase affordable housing.pdf Work progresses on Lions Gate Hospital new power plant.pdf $90 billion in lost home value in Metro Vancouver over the past year: report Kenneth Chan May 21, 2019 10:29 am 9,494 Home values across Metro Vancouver have taken quite a beating over the past 12 months, cutting much of the equity gained by homeowners during the peak market conditions just a few years ago. See also Metro Vancouver's luxury housing market is now a buyer's market: report Only Vancouver's top 2.5% income earners can afford a home: report Sale of 5,000 concrete condo units postponed in Metro Vancouver: report Metro Vancouver home sales sink to lowest level in 33 years Metro Vancouver suburban areas seeing highest number of unsold home listings A new analysis released today — commissioned by homeowner advocacy group STEPUP and created by Paul Sullivan, a senior partner at Burgess, Cawley, Sullivan & Associates Ltd., a commercial real estate and property tax appraisal firm — indicates the region saw an estimated $89.2 billion loss in homeowner equity for the period between April 2018 and April 2019. Losses within Vancouver, the jurisdiction with the highest number of residences, amounted to $43.6 billion — a nearly 13% drop. The highest percentage decrease was in West Vancouver, where home values dropped by $7.64 billion or 14.68%. The average loss per household in Vancouver and West Vancouver is $153,873 and $451,385, respectively. Richmond saw the third highest drop per household, with an average loss value of $95,750. Port Coquitlam’s small suburban market also saw a significant decrease of 10.23%, worth over $1.5 billion. While first-time homebuyers may benefit from the current downturn and the resulting drop in home prices, the analysis makes an argument that longtime homeowners are relying on their equity to fund home renovations, post-secondary education, senior care costs, and retirement. Their homes are usually their largest investment, and they rely on their equity in their home to get through retirement and leave something for their children. They believe this loss in equity will result in a “devastating” impact on the economy and jobs, citing a recent BC Real Estate Analysis that estimates a 10% equity loss equals to 26,000 jobs lost, a $1.8 billion reduction in retail sales, and lost tax revenues. The provincial government’s interventions, in particular, to use the housing market to generate revenue to fund its programs have been deemed as the culprit for the losses. “While the government’s goal may indeed be to bottom out the housing market in an attempt to somehow address the complex issue of affordability, they are simply removing billions of dollars from the BC economy, to everyone’s detriment,” said Sullivan. “This provincial government suggests you don’t deserve to have that real estate ‘wealth’ and should pay even more, on top of rising income taxes, the highest gas prices in North America and ballooning ICBC and utility fee increases.” The school tax surcharge, one of several new housing tax measures, for homes assessed at over $3 million will result in an average 35% increase across Vancouver, even though many of those home have seen their assessments drop since the BC NDP gained power. “We have been taxed out of our home,” said Point Grey resident Ric Pow, in the report. “My wife and I are life- long residents of Vancouver, and have owned and lived in Point Grey for 33 years. We have been careful with our retirement funds, and own our home mortgage-free, which has been a cornerstone of our retirement plan.” “Our home, along with most others in David Eby’s riding, has lost 25% of its value since the NDP took power,” continued Pow. “We have been forced to defer the unaffordable taxes, and are now in debt to the city and province because of the fiscal policies of the NDP. This will have a serious impact on our financial well-being during retirement years.” Here is a full market breakdown of the equity loss across Metro Vancouver from April 2018 to April 2019: Burnaby o Number of dwellings: 92,200 o Value loss percentage: -6.14% o Real equity loss: -$5.255 billion o Average equity loss per household: -$56,998 Coquitlam o Number of dwellings: 51,325 o Value loss percentage: -9.39% o Real equity loss: -$4.41 billion o Average equity loss per household: -$85,858 Delta o Number of dwellings: 35,760 o Value loss percentage: -7.79% o Real equity loss: -$2.42 billion o Average equity loss per household: -$67,715 Langley o Number of dwellings: 53,820 o Value loss percentage: -8.7% o Real equity loss: -$3.26
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