Vik Sodhi - Personal Real Estate Corporation

09/08/2022

As interest rates remain uncertain, it is important for buyers to look for opportunities and for current homeowners to understand what your payment could be at renewal and start planning for it now.

https://storeys.com/partway-up-rate-hike-mountain-buyers-borrowers-adjust-higher-rates/

With interest rates rising 3% since March, we ask experts how consumers can best absorb the shock of the most recent rate hike.

09/07/2022

Based on the Bank of Canada's reasoning it looks like we may have another rate hike in store by the end of the year.

https://www.bankofcanada.ca/2022/09/fad-press-release-2022-09-07/

The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%.

09/06/2022

"Reacting to the July inflation reading, most economists agreed that the Bank would not hike by less than 50 basis points."

https://financialpost.com/news/economy/key-questions-ahead-of-the-bank-of-canadas-september-rate-decision

How high will the Bank of Canada go? And more. Find out here.

08/27/2022

💥JUST LISTED💥

Located in Cloverdale, this 9 bedroom, 8 bathroom home is on a 6491 sq ft lot. This home has many high quality features and a soundproofed media room built for entertaining.

$2,549,999
6491 sq ft lot
🛏9 bedrooms
🛁8 bathrooms

Book your showings!
E: [email protected]
P: 604-368-3522

08/16/2022

After front-loading the rate hike at the last interest rate announcement, and with inflation cooling, the BOC may deliver a less aggressive rate hike on Sept 7th.

https://www.bnnbloomberg.ca/canadian-inflation-cools-but-hot-core-keeps-up-rate-pressure-1.1806324

Consumer price inflation cooled as gasoline prices fell by the most since the start of the pandemic, though underlying price pressures will likely push the Bank of Canada to continue delivering aggressive rate hikes.

08/12/2022

"Canadians will find out Tuesday whether inflation is showing clear signs of easing nationwide when Statistics Canada releases July’s Consumer Price Index (CPI)."

Data shows inflation on West Coast easing ahead of rest of nation

08/10/2022

With rental rates rising and real estate prices down from their peak, this may present great opportunities in the real estate market in the near future.

In Vancouver, "[p]rices for the average one-bedroom rose to $2,412 and the average two-bedroom is going for $3,597."

Canada’s most expensive rental markets are almost all in B.C. and Ontario

08/09/2022

"According to Metro Vancouver's projected housing mix along the corridor, the future is multi-family, and the plan is that over the next 30 years, the new housing will represent 50 per cent condos and 43 per cent attached/townhouses, with the small remainder being traditional single-family houses."

With first SkyTrain contracts being awarded, developers clear space for mixed-used projects as land values push above $13 million an acre

08/05/2022

Rent vs Buy/Own? This article discusses how rents are increasing dramatically.

Renting may make sense in the short term for some people however, if you have the means, home ownership gives you many advantages including building equity and having control over your own space which renting will never provide.

Although rent always seems to be going up, never down, in Vancouver – this month has seen the most dramatic increase yet.