Housing unaffordability is truly the worst it’s ever been.
In this weeks episode we explore how home ownership cost (as a percentage of median household income) hit 60% this year, an all-time high. Considering the price of inflation, the cost of increasing interest rates and relatively stagnant wage growth by comparison, the cost of living has risen significantly.
The affordability Gap in Canada – the difference between what a home costs and what a person can afford to pay for a home has widened by 67%!
Following this bearish trend, the DOW had its worst month since the lockdown, in March 2020 and this was the worst quarter for the S&P 500 since 2009
Canadian Household debt to disposable income continues to climb, hitting a new all-time highs in August. It’s now at 182%! And by comparison, our friends down south in the USA are at 100% respectively.
A recession could still largely be avoided if the bank of Canada pivots in due course but inflation data suggests that won’t happen – it’s still too high which ironically increases the odds of a recession with every interest rate hike from here.
Sounds bad, and while it is – there’s hope as some important metrics are beginning to show signs of stabilization here in BC and Canada continues its very aggressive immigration policy adding well over 280,000 new permanent residents in Q2 alone.
_________________________________
Contact Us To Book Your Private Consultation:
Dan Wurtele, PREC, REIA
604.809.0834
dan@thevancouverlife.com
Ryan Dash PREC
778.898.0089ryan@thevancouverlife.com
🏡 Visit our website to see active listings and valuable Real Estate information 🏡
→ The Vancouver Life: https://bit.ly/3yN25V7
🏦 Investors 🏦
Join our Investors Group with over 6,600 Members
→ Facebook Group for Investors: https://bit.ly/3CQ7hu3
💥 Follow us on Social Media 💥
→ Instagram: https://bit.ly/3jSkRo1
→ Facebook: https://bit.ly/3g05bxK
→ Twitter: https://bit.ly/3xMGFpZ
_________________________________
The Vancouver Life Real Estate Group are licensed Real Estate Agents at eXp Realty Vancouver / eXp Realty Canada:
🏆 Top 3% Agents 2019, 2020, 2021
🏆 Medallion Club Members 2019, 2020, 2021
🏆 Over $250,000,000 in sales
_________________________________
👩🏼💼 Are You A Real Estate Agent? 👨🏼💼
Book a 1-on-1 with us to learn how we help agents DOUBLE their business → https://bit.ly/level10agent
This is a taste of what our Coaching Team can offer you, free of charge!
🆓 Google Ads coaching or discounted management
🆓 Level 10 Agent + SIMS Coaching Systems & coaching calls every week
🆓 YouTube, social media & online lead generation coaching
🆓 Access to an online lead generation program
🆓 Access to online lead conversion program
🆓 1-Page business plan created with you by our Coaching team
🆓 90-day Coaching new agent training program
🆓 Your Assistants trained & hired with SIMS assistant team
🆓 Your Inside Sales Agents trained & hired with SIMS powerhouse ISA team
🆓 Access to our private Facebook mastermind Group
🆓 Access to 1-1 when you need us for support
🆓 Access to kvCORE, 40+ weekly training calls, stock, revenue share and more…
👉 Learn more at https://bit.ly/level10agent
_________________________________