Dispatches By Steve Threndyle
>>
Squamish Continues to Boom Through Squamish real estate has been trending up for years, the trend seems set to continue indefinitely. According to Craig Doherty, a Howe Sound real estate expert, “There is no slowdown in sight for this adventure paradise, as there are so many major projects on the go that will offer even more lifestyle options, more jobs, infrastructure and adventure options.” A few to watch for include Oceanfront Squamish, a community with 2,500 new homes, a Capilano University campus and an 11-acre oceanfront park; the $1.6-billion Woodfibre LNG plant, set to start construction in 2023; and an investment of $50-million from the District of Squamish in local infrastructure and facilities, including transportation and climate-action support. oceanfrontsquamish.com, woodfibrelng.ca, squamish.ca 45%: reduction in GHG emissions by 2030 targeted by District of Squamish.
The “Bank of Mom and Dad”
>>
It’s the question we all silently ask when a young family builds a massive new home: “Where did they get the money?” The Canadian Housing Statistics program, formed by Statistics Canada to gain insights into urban home buying, found that nearly 40 per cent of detached house sales in Metro Vancouver in 2018 were non-market (for instance, between related parties, or internal corporate transactions). Another eyebrow-raising tidbit: in 2018, 300,000 B.C. homeowners owned more than one property and 62,000 homeowners owned more than three. statcan.gc.ca/en/subjects-start/housing 40%: amount of Metro Vancouver home sales that were non-market in 2018.
>>
A Flood of Insurance Options In 2021, forest fires, floods, freezing temperatures and scorching heat caused hundreds of millions of dollars in property damage throughout B.C. As the tortuous process of cleaning up and rebuilding got underway, some property owners received the shock of a lifetime: insurance that wouldn’t cover their expenses. Homeowners who live in semi-rural or rural areas should regularly consult one of B.C.’s almost 900 licensed local brokers to reassess evolving coverage, to ensure a policy that truly covers a “worst-case” scenario. 5%: average increase in Canadian home insurance costs in 2022.
10
Right Sizing
Summer 2022
