Inflation, rising interest rates create caution across Metro Vancouver’s housing market VANCOUVER, BC –…
For the past three years, housing has consistently topped the charts as the most important issue facing most cities in Metro Vancouver. Aside from Surrey, where crime and public safety are regarded as a more pressing concern, all other municipalities are primarily worried about housing.
Earlier this month, 67% of respondents to a Research Co. poll in the city of Vancouver said housing is the top issue facing the city.
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The proportion has been strikingly similar in Burnaby and the adjacent communities to the east, as well as on the North Shore.
The discussions related to where people will live affect all generations. In Vancouver, 74% of residents aged 18 to 34 and 71% of residents aged 55 and over are concerned about housing. Millennials who rent desperately want to get into the real estate market. Baby boomers who own their home are not ready to see their equity disappear.