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August 2014 B.C. Economic Fundamentals

Discussion in 'BC News' started by Ally, Jul 30, 2014.

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    Infill housing gaining popularity with Vancouver developers





    VANCOUVER (NEWS1130) ` Infill housing has been promoted as an economical use of existing infrastructure and the lack of land cost for the developer makes it an attractive option.





    Architect Michael Geller has consulted on these types of projects and says it is a sustainable way of increasing existing rental stock in the city.





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    Real estate analyst says Lower Mainland elections could influence housing prices






    Don Campbell likes to say that he doesn`t sell real estate. `I`m just a researcher,` insists the author of several books on property investing.

















    Campbell also likes to say that because he`s not selling property, he can be counted on to offer an unbiased perspective. He`s the founding partner of the Real Estate Investment Network, a Langley-based company that provides market analysis to clients.





    Reached by the Georgia Straight on his cellphone for an interview about the fall municipal elections, he was forthcoming about which cities he`s watching.





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    Students struggle to find accommodation in Vancouver's hot rental market





    VANCOUVER ` Madeleine Davis expects she could be couch-surfing with friends when she heads back to university this fall.





    That reality is starting to strike home for the fifth-year University of B.C. philosophy student and her two roommates, who have been searching since Aug. 1 for an affordable house close to the UBC campus.










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    Emerging tech firms hone in on Mount Pleasant





    A change in tenancy this fall at a major office building in Mount Pleasant signals what a commercial real estate expert says is another step for Vancouver`s emerging technology companies as they hunt for office space without downtown prices.





    The building, known as Radia Block, at 149 West 4th Ave., has housed Mountain Equipment Co-op`s headquarters since the 1990s. In October, MEC moves to its own new 112,000-square-foot building in the False Creek Flats.










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    Townhomes an affordable alternative in Vancouver





    Can`t afford a single-family home in Vancouver, and not enamoured with condo living? There is another option, albeit a frustratingly elusive one: townhomes.





    It`s a great option for people who want to be able to walk out their front door and be outside ` as opposed to exiting via a corridor full of neighbouring units, an occasionally slow elevator and a lobby.





    `For most people, it`s as close as you can get to having a home in the city,` says Vancouver realtor Bob Rennie.








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    Wildfires not yet threatening B.C. mills





    Extreme forest fire hazards can cause B.C. loggers to act more like anxious farmers who obsess about weather conditions.





    With more than 170 wildfires currently burning throughout B.C. and many more expected due to tinder-dry conditions, logging operators across the province are carefully picking their spots as to where and when they harvest timber.







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    Vancouver housing data reveals Chinese connection





    One of the largest real estate companies in British Columbia says that more than one-third of all the single-family detached homes it sold last year went to people with ties to mainland China.





    Macdonald Realty Ltd., which has over 1,000 agents and staff in B.C., said 33.5 per cent of the 531 single family homes sold by its Vancouver offices in 2013 went to people who the company said were a mix of recent immigrants and Canadian citizens.





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    Port Metro Vancouver okays controversial coal shipping facility at Fraser Surrey docks





    Port Metro Vancouver has approved a controversial $15-million coal-loading facility at Fraser Surrey Docks despite concerns for human health and the environment.





    Peter Xotta, the port's vice-president of planning and operations, told a news conference Thursday that a review by Golder Associates concluded "there are no significant adverse environmental effects, including health effects," that cannot be mitigated.







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    Maple Ridge hot button issue: Job growth





    Ninety per cent of the jobs in B.C. are created by small business and in order to achieve job growth locally, council needs to continue to look for ways to reduce red tape and taxes and ensure there are lands available for such businesses to grow.





    Council has focussed on these actions during the past six years, with some examples captured in the following. Firstly, we aligned our Official Community Plan (OCP) with the Regional Growth Strategy, so that we are well positioned moving into the future to support the region`s transportation, population, and job growth goals, objectives, and targets ` which is important for the collective future of the region.





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    Is the dip in high-end Vancouver house sales just a summer dip?





    It could be the start of falling prices in Vancouver`s pricey real estate market, the perfect time to snap up a multimillion-dollar dream home ` or just a summer blip.





    Richard Kurland, an immigration lawyer who works with wealthy investors from mainland China, has looked at July real estate figures and suggests they may offer a glimpse at an important shift in Vancouver`s housing market ` where the average price of a single detached home has climbed to $1.2-million.





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