VANCOUVER — The B.C. Real Estate Association says the province’s housing market has tumbled from record highs posted in 2016 to return to what it calls historic, long-term averages. The association says 4,487 condos, townhomes and detached homes were sold in B.C. in January, down 23 per cent compared with the same period last year.
The low-interest loan program introduced by the B.C. government to help first-time home buyers get into the market appears to be having a big impact on entry-level condos. While government intervention in the real estate market put a chill on prices this summer, it looks like the new loan initiative is heating up prices again.
When the Canadian Pacific Railway chose to build its western terminus in Vancouver the city was centred in Gastown. Unfortunately for the C.P.R., its land holdings were further west. So the company built the first Hotel Vancouver at Georgia and Granville in 1886-87, hoping to spur development its way. In 1890, the railway announced it would
