Newsletter

Don’t miss this years BBQ, We will have tacos, snow cones and games for the kids to enjoy.

Here is the link: BBQ Invite

Don’t miss this years BBQ, We will have tacos, snow cones and games for the kids to enjoy.

Here is the link: BBQ Invite

WE ARE BACK! !! We are so very happy to let everyone know that after a hiatus last year due to our site being booked up we were eager beavers and reserved our regular spot at Albion Park the same day that reservations opened!

SAVE THE DATE: Sunday, August 23, 2026

TIME: 11am to 2pm

LOCATION: ALBION PARK GOOGLE MAP Albion Park, Maple Ridge (104 Avenue between 244 Street & Jackson Road)

GAMES LINEUP: The Eliminator is back by popular demand! We will also have Top Shot Hockey, The Monster Obstacle Course and the Western Airblast Shootout.

FOOD: As always, we will have tacos and fixings up for grabs – please respond to the food choice poll so that we can prepare enough food for everyone.

BBQ Invite with Poll

We will also have a sno-cone machine running full force so bring your sweet tooth!

This is a family friendly day and we do welcome furry family members so feel free to bring your well behaved pups out.

If you have any friends that you’d like to bring along please include the number of guests in your RSVP.

We are looking forward to seeing you all and catching up!

Thanks,
Matt Bastien

Hi Everyone,

We are experiencing some very interesting times in the world economy right now. Political landscapes, both at home and south of the border are quickly shaping policies that may have long lasting effects for our financial markets.

As the U.S. ramps up tariffs on imported goods, concerns are growing north of the border about the ripple effects these protectionist measures could have on Canada’s housing market. While tariffs are primarily a tool of economic policy aimed at shielding domestic industries, they often carry cross-border consequences—especially in economies as deeply interconnected as those of Canada and the United States. Imposed or threatened new tariffs on a range of products, including steel, aluminum, lumber, and other key construction materials can disrupt supply chains and increase the cost of goods on both sides of the border. For Canada, which exports a significant volume of softwood lumber and other building materials to the U.S., retaliatory tariffs—or diminished demand due to higher costs—could impact producers, potentially leading to job losses or reduced output. One of the most direct ways U.S. tariffs could influence the Canadian housing market is through the cost of construction materials. If Canadian producers shift their supply to meet U.S. demand despite tariffs, it could create shortages at home, driving up domestic prices. Alternatively, if tariffs lower demand from the U.S., Canadian producers may flood the local market with cheaper materials—though this would depend on producers’ capacity to absorb lower profit margins.

For new construction builds, this could affect the overall costs of new developments: Increased construction costs could push developers to scale back projects or delay new builds, reducing supply and putting upward pressure on home prices—especially in already-tight markets like Toronto and Vancouver.

When builders are considering a project they typically will calculate costs based on eventual sale prices coupled with the length of time it will take them to obtain approval for the project, complete construction and then market and sell the homes. With both market and price uncertainty, this is becoming more difficult for the average builder to do in order to have a concrete idea of their profit margins.

You might think this could have a positive effect on the housing market as perhaps prices may come down…however price uncertainty can deter investment in real estate development, compounding housing shortages in urban centers. When less homes are being constructed/provided on the market suddenly demand increases. When demand increases…prices follow suit.
Another consideration is the impact of tariffs on the Canadian dollar. If tariffs lead to decreased Canadian exports or investor uncertainty, the loonie may weaken. A weaker currency could make imported goods more expensive, again increasing construction costs. However, it might also make Canadian real estate more attractive to foreign buyers seeking a currency advantage, which could increase demand, especially in high-end markets. Sound familiar?
Here’s who wins in this market:

1) First Time Buyers with Strong Finances – If you have been waiting to get into the housing market, this may be the best opportunity for you since before the COVID pandemic. With ample supply and sellers competing for offers, you may have a window of time where you can make a purchase and realize equity growth in the mid term. When the economical uncertainty settles it is likely that the market may return to balanced in which case values will likely begin to increase again.

2) Downsizers/Empty Nesters – If you have been considering downsizing to a simpler lifestyle, you may also have a window of opportunity. Prices have not gone through a massive correction so you could be able to liquidate your current home at a higher price point and then re-purchase a more affordable or smaller home at a lower price point or even mortgage free. This will free up some cash equity to allow you to bank funds or retire early.

3) Re-locators – if you have considered leaving a city centre for a more rural lifestyle, consider it deeply. Rural areas often experience slower markets than city centres so, much like a downsizer, you have a chance to liquidate your hustle and bustle property and purchase a peaceful rural paradise for a much lower cost.
As always, I’m here to discuss all things real estate with you. Should you or anyone you know of have any questions about the market please feel free to reach out to me directly at 604-818-9942.

Matt

With all of the furor surrounding the Bank of Canada’s first interest rate decrease, many industry professionals (myself included) anticipated a return of buyer confidence to the housing market, resulting in a return to rapid sales, increasing sales prices and a lack of inventory. Well…that hasn’t yet been the case…

Instead, it appears that Sellers who have waited for a rate decrease acted upon the anticipated buyer confidence and brought their homes to market but the Buyers have not yet fully jumped off the fence. This has resulted in inventory levels climbing to a point not seen since 2019 and a rate of sales falling sharply since the same point one year ago. For the Greater Vancouver market, there were 2418 sales in June which was a 19.1% decrease from June 2023. There are currently 14,182 properties listed for sale on the MLS in Metro Vancouver which is a 42% jump from June 2023 which only had 9,990 properties listed at that time.

NOTE: This does not mean that prices have yet followed suit. Andrew Lis*, the GVR’s director of economics and data analytics goes a bit deeper and explains that “June’s lower-than normal transaction volumes suggest many buyers remain hesitant, which has allowed inventory to accumulate and has kept a lid on upward price pressure across market segments. With that said, the transaction-level data do show that well-priced properties are still selling quickly, suggesting astute buyers are able to spot value and act when opportunities arise.” Essentially, there are certain segments of Buyers who are seeing the deals that are out there and scooping them up – likely anticipating further rate decreases and taking advantage of what may be “the calm before the storm”. Well priced and well presented properties are still selling and selling well. These deals are often priced for the product/condition of the properties and when a property is primed to sell quickly, it typically will sell for closer to the asking price – demand dictates that. However, it is a competitive market for Sellers and those under a timeline must be cognizant of that.

With mixed opinions from industry insiders as to a further BOC rate decrease at July’s meeting it will be interesting to see how our market weathers the remainder of the summer market. Many pundits do feel that if there is not a rate cut in July, there will be one in September. The questions become, will the market take off again…and if so, when?

*Quote from GVR’s News Release “Market Shifting in buyer’s favour, though hesitation remains” dated July 3, 2024.

It appears that the government has taken more steps to continue their battle against the housing market. In a move that has shaken property investors and small business owners, the federal government recently announced that they were planning to increase the capital gains tax rate from 50% to 67% (rounded up from 66.7% for ease of writing) for corporations with any gain and for individuals with gains over $250,000.

However, when you think of “corporations” it’s important to note that this does not necessarily refer to massive conglomerates with large holdings…a great number of mom and pop property investors use corporate tools like holding companies to tax shelter their investments for retirement income or savings. The capital gains tax will also apply to other businesses small and large which will have a detrimental effect on business growth and development which could then further effect the economy. This could mean that the profits that a great many Canadians relied on for their children’s education or their personal retirement planning just took a massive hit. Additionally, as this new increase applies to any secondary property, families with cottages or vacation homes that have been in the family for decades will now have to take that into consideration.
Keep in mind that this does not translate to a direct “payment” of 67% of the gain to the government. What is means is that 67% of the gain is applied to the individual or corporation’s taxable income for the calendar year in which the property is sold. Depending on the tax bracket of the Seller, this could be quite costly.

With interest rates at levels not seen since 2008 and attacks on rental owners (Short term rentals like AirBnb are also being outlawed in the majority of BC cities) this could spell some tremulous times for homeowners. As investment owners decide to liquidate their properties, more inventory will mean more choice for buyers which will force sellers to become more competitive with their pricing. Let’s hope that Canada’s immigration policy can keep up by bringing enough potential property owners into town to keep values relatively stable because if no one is buying…no one is selling.