Earlier this week, the Real Estate Board of Greater Vancouver reported that the benchmark price of a home in Metro Vancouver has slipped below the $1 million mark. But how do price declines differ between different areas within the region, and between different property types. And what does this truly mean for affordability?
In the meantime, Millennials are having to get creative to find ways to afford a home in what is still an extremely expensive city. A recent report from the Real Estate Investment Network has some ideas about how developers and landlords need to embrace changing housing needs of the younger generation.
Glacier Media Real Estate’s editorial director Joannah Connolly appeared July 5 in her monthly guest slot on City TV’s BT Vancouver morning news show to discuss the latest market stats and Millennial housing hacks. Check out her summary in the video below.