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"Canadian Real Estate is Highly Vulnerable" says CMHC

CMHC releases their 2021 Q3 Canadian Housing Vulnerability Ratings, Victoria looks to crackdown on “renovictions” and REW releases the top 3 performing markets based on most searched BC regions on their website.

In this video, Surrey Real Estate Specialist Steve Karrasch of Macdonald Realty, walks through three recent news articles pertaining to Canadian Real Estate and breaks down what it all means including these highlights:

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According to CMHC, the Canadian Housing Market has entered a state of high vulnerability due to price acceleration and overvaluations across many of the major Eastern cities. Many Western regions however, including Vancouver, were downgraded actually by CMHC from a moderate to low degree of vulnerability.

Original Article: Canadian real estate highly vulnerable thanks to price hikes, overvaluations: CMHC 

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Victoria is pushing for a new bylaw that will preserve affordability on newly renovated rental units when a tenant is evicted in order for a significant renovation to take place, a term coined as “Renoviction”.

Original Article: City of Victoria turns to bylaws to put a tighter rein on renovictions 

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REW releases their top 3 searched BC markets over the last 12 months. Spoiler Alert…Kitsilano earned the #1 spot, followed by White Rock and Cloverdale.

Original Article: The top 3 performing markets on REW over the last year 

#SurreyRealEstate #SurreyRealtor #CanadianRealEstate

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If you are looking for help or have any questions regarding real estate in Surrey, Metro Vancouver or the Fraser Valley, please reach out below using which ever way is most convenient.

book time with Steve
call or text: 604-549-5828
email: steve@krproperties.ca