- Jon Stovell on short term changes in the market: Jon reminds us there is healthy supply coming in but it will take years. He says it’s possible to see rents and prices ease up in certain areas of the city, but the overall trend will continue to rise.
- Jon Stovell on his outlook for 2018: Jon believes it is a good time to buy. The market is tempering a little in certain asset classes. Towards the end or third quarter will be the softest patch, and then the market will strengthen again. 2018 will be softer than 2016 or 2017 but people will still need to be creative to get money together. Jon says there are still opportunities in the suburbs, like Surrey and New Westminster, but they won’t last long. He appreciates Burnaby’s approach to development and densification; unfortunately their building permit department hasn’t developed at the same rate.
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Jon is President of a regional developer (a family-based company) that specializes in heritage revitalization work (such as in Gastown and East Vancouver). Recently, they’ve been doing new commercial and residential high-rise construction. Jon has been involved with the Urban Development Institute for many years and is currently Chair. He’s also been involved with city advisory groups for years, and is quite active in policy and public dialogue on real estate and housing issues.