Emily Vu, Personal Real Estate Corporation

Sustainable Happiness, Sustainable Return

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More young Canadians want homes and pets over weddings and kids, survey says

61% of Gen Z respondents would choose pets over children

A new report highlights
How younger Canadians are prioritizing homeownership and pets over weddings and children due to the high cost of living. While homeownership is a primary goal for 73% of Gen Z Canadians, 61% are unsure if they can afford it. In contrast, 42% see marriage as an important goal, with 41% deeming it necessary.

The cost to raise a child in Canada is approximately $293,000 from birth to age 17, while owning a dog can cost up...

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The Bank of Canada reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%.
  1. The Bank of Canada reduced its target for the overnight rate to 4,75%, with the Bank Rate at 5% and the deposit rate at 4,75%.

  2. The Bank maintains its policy of balance sheet normalization.

  3. Globally, the economy grew by about 3% in the first quarter of 2024, with varying performance across regions.

  4. In Canada, economic growth resumed in the first quarter, albeit slower than forecasted.

  5. Canada saw solid consumption growth and increased business investment and housing activity.

  6. CPI inflation eased further...

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May 2024 real estate market in Metro Vancouver, specifically noting a 19.9% decrease in transactions.

In May 2024, the Metro Vancouver real estate market experienced a decline in the number of transactions compared to typical seasonal patterns. Greater Vancouver REALTORS® reported a total of 2,733 residential sales, marking a 19.9% decrease from May 2023 and a 19.6% decrease from the 10-year average for May. Factors influencing this trend include higher borrowing costs, economic concerns, and government policy interventions. Despite a 12.6% increase in new property listings compared to May 2023, the...

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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.