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Multi-family sales dip amidst government intervention

Tanya Commisso, Western Investor
October 24, 2017

A new report shows a 23 per cent decrease in Metro Vancouver apartment sales and cautions that municipal intervention may hinder the proposed new supply

Multi-family sales have slowed by a third year-over-year, possibly signaling a shift in investor sentiment, according to a new report by HQ Commercial’s the Goodman team.

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Vancouver’s rental mini-boom could be snuffed out

Kerry Gold, The Globe and Mail
September 8, 2017

“Vancouver is now in catch-up mode.”

It’s a slow-motion catch up, cautions commercial realtor David Goodman, author of the 35-year-old Goodman Report newsletter.

Mr. Goodman specializes in the marketing of rental apartment buildings and condo development sites, and he makes a point of tracking new rental building numbers. While there’s been momentum over the past five years, with the exception of New Westminster, the region has a long way to go, he says.

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Co-op conversions

Peter Mitham, Business In Vancouver
Aug. 1, 2017, midnight

Winding down strata properties might be a new phenomenon, but spare a thought for co-operative housing arrangements.

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Seriously! Not an April Fool’s joke
Coming soon: 11,784 new rental suites

Goodman Report
April 1, 2017

For the last 10 years, we at the Goodman Report have railed against the rental housing policies of Metro Vancouver – and in particular the City of Vancouver – relating to the glaringly insufficient new rental stock under construction. The track record of local politicians in creating an environment conducive to purpose-built rental construction had been dismal at best, a travesty at worst.

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The Rental Housing Crisis: So what else is new?

This article was written and published in the 2016 Year-End Goodman Report.

Have the proverbial lights finally flickered on at the corner of Vancouver’s West 12th Avenue and Cambie Street? And have our elected officials and their advisors (read: spin doctors) acknowledged at last that we are in the midst of a rental housing crisis?

Under unrelenting pressure from a vast body of our citizenry – including students, new families, seniors and employers – the news media, BC Housing, the Urban Development Institute, landowners and the odd, very irritating commercial realtor, Vancouver’s municipal leaders after years of ruling in a vacuum of denial have now changed their tune. Even Mayor Robertson, after eight years at the helm, has admitted as much. As quoted in an article in The Guardian by Ashifa Kassam, Robertson said he “wouldn’t have dreamed the [housing] crisis would get this intense” (November 21, 2016). The Mayor artfully deflected blame away from his office by claiming that the crisis was owing to the impact of global capital and the fact that the provincial and federal governments were not doing enough.

We disagree.

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New rentals are coming! New rentals are coming!

This article was written and published in the 2016 Year-End Goodman Report.

The shortfall in rentals hasn’t been merely a Vancouver problem. Municipal governments outside the city’s borders haven’t been coping well with their aging rental stock either. Though a bonanza for rental owners in terms of soaring valuations and sharply escalating rents, the dire shortage in the region has been disruptive, indeed disheartening, to segments of society needing affordability. These include students, young families and seniors, as well as employers looking to attract and retain talent. New supplies of market rentals would help ease these severe pressures.

And now?

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