Single-family homes even more out of reach in Vancouver

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Good morning,

I was awoken early, not by the earthquake that many felt this morning, but by my incessant cold that just won’t go away. Luckily, as I write this, I feel like I’m on the mend. I managed to avoid getting a cold the rest of the year, but when it strikes, it strikes hard.

Today’s main story is about a unicorn. The mythical horned creature that everyone knows isn’t real? No, much more rare, at least in Vancouver — I’m talking about the ability to own a single-family home. And in fact, they may soon be even rarer, as you’ll discover later in the newsletter.

Then we’ve got some polling about the mayor, the good, the bad and the meh.

A reminder that you will not hear from me on Monday as it’s National Day for Truth and Reconciliation. I’ll return on Tuesday for those of you who subscribe to our food newsletter, and Wednesday for everyone else. 

— Geoff Sharpe, Lookout managing editor

PS - If you find this newsletter valuable, please consider forwarding it to your friends. New to the Lookout? Sign-up for free.

WEATHER

Friday: 18 🌡️ 10 | 🌤️

Saturday: 16 🌡️ 10 | ☁️

Sunday: 15 🌡️ 8 | 🌤️

Monday: 17 🌡️ 11 | 🌤️

HOUSING

Single-family homes even more out of reach in Vancouver

What happened: The nature of single-family home ownership is increasingly changing in the city (and getting more expensive), as more and more single-family lots add additional buildings like laneway housing, as well as accommodate multi-generations of families, according to the Vancouver Sun. 

Background: Would you be surprised if I said the price of single-family homes in Vancouver increased? Of course not. But you might be surprised at the scale of the rise. Prices for single-family homes rose 4.6 per cent annually in the second quarter of the year, according to Business in Vancouver. Other home prices? A paltry 0.3 per cent. 

• From December 2019 to December 2023, single-family home prices grew by 37.9 per cent, to an average price of $1.9 million. 

Breaking it down: The report from RE/MAX Canada explains that an increase in renovations and additional units like laneway homes is driving up the price of single-family lots, essentially making them a “unicorn”. As noted by RE/MAX Canada president Cristopher Alexander, single-family homes in most major cities have disappeared. For example, places like New York mostly have brownstone buildings rather than large single-family lots. 

• There was $300 billion in renovation spending from 2019 to 2023, which contributed to the rising single-family lot prices. 

Other trends like aging in place are disrupting the normal property ladder process. Rather than sell and purchase a bigger place, families are opting to renovate homes to move in together. This limits the inventory available for purchase, driving up scarcity. 

Bad news: Oh yeah, there’s more. The report notes that condo apartments are also getting smaller, which if you ever seen a newer unit, or browsed a rental or real estate site, you would have noticed. 

What it means: A real estate company like RE/MAX is obviously interested in a strong housing market where lots of purchases are made. But the report speaks to generational challenges faced by families. With people living longer and staying in larger homes, there are fewer places for young families, necessitating a move outside Vancouver.

• What interests me the most is how the next generation will adapt. Will they demand single-family homes like many millennial families I know? Will inter-generational living increase as a way to share wealth from one generation to another, especially those who cannot afford the high home price? What is clear is that housing won’t be the same when the next generation enters the market in big Canadian cities. 

Thought-bubble: I’ve travelled to many cities, and very few except in North America are structured like Vancouver, with so many single family inside city limits.

SPONSORED BY VANCOUVER INTERNATIONAL FILM FESTIVAL

Go Behind the Scenes: Filmmaker Q&As at VIFF

The Vancouver International Film Festival is back. VIFF's opening days feature a number of prominent Canadian and Indigenous filmmakers presenting their latest work.

Karen Chapman’s sensitive debut feature Village Keeper delves into the beauty of rediscovering life’s little joys in the wake of trauma. Karen joins VIFF for a Q&A on September 27 and 28.

Also on September 28, director Kazik Radwanski joins the screening of her propulsive, naturalistic film Matt and Mara, featuring terrific performances from Deragh Campbell and BlackBerry’s Matt Johnson.

On September 30 and October 1, hear from Sofia Bohdanowicz, director of Measures for a Funeral. The film follows a young academic (Deragh Campbell, again) who discovers a personal link to influential violinist Kathleen Parlow.

And So Surreal: Behind the Masks explores the astonishing connections between Yup’ik and Kwakwa̱ka̱ʼwakw ceremonial masks and surrealist art. Directors Neil Diamond and Joanne Robertson will offer insights on September 29.

VANCOUVER NUMBERS

🗳️ 1%: The difference in a recent provincial election poll between the BC NDP and the BC Conservatives, at 45 per cent and 44 per cent, respectively. [CityNews]

📉 7%: The decline in violent crimes in Vancouver in the first six months of the year, compared to the same time in 2023. This year there have been 2,837 violent crimes, down from 3,051. Downtown Vancouver saw a slight increase of 2.5 per cent while everywhere else dropped. [Vancouver Sun]

⚽️ 3rd: Vancouver may be a hockey town but should it be known for soccer? This is the number of championships the Vancouver Whitecaps have won in a row, after defeating Toronto 4-2 after penalty shots. [The Province]

THE AGENDA

🌍 No you didn’t dream it, there was an earthquake yesterday morning. It struck 19 kilometres northeast of Victoria just after 4 am. Some people reported being woken up by the quake. Earthquakes Canada said it registered a magnitude of 3.8. [CityNews]

🏘️ A few hours after we published our breakdown of the housing plans for each provincial party, the BC NDP announced an expansion of their home buyers financing plan. First-time home buyers of specific new buildings would be able to save 40 per cent off their home purchase price, in the form of a loan with an interest rate of 1.5 per cent. The loan must be repaid after 25 years and will be applied to 25,000 new units over five years, costing $1.29 billion, targeting middle-income buyers. [Business in Vancouver]

📉 Speaking of the provincial election, climate issues have fallen in importance for voters, and especially the carbon tax. Only 20 per cent of residents say the environment is their top concern, with 52 per cent of residents saying they support scrapping the carbon tax. For BC NDP supporters, it stands at 48 per cent, which is a majority of BC NDP voters. [Business in Vancouver]

🪧 Across six Metro Vancouver grain terminals, 650 workers walked off the job this week. Both sides have been bargaining since November 2023, with the collective agreement having expired in December. Workers are asking for higher wages and other benefits. A strike longer than a week could result in food shortages and higher prices. [CTV]

⚽ BC Place Stadium will be a host venue for the CONCACAF Gold Cup, from June 14 to July 6 2025. The number of soccer games and dates will be released at a later date. [CTV]

👮 Gastown is getting a bigger police presence to improve public safety, including establishing a policing centre. The money is coming from the province. [CityNews]

⛴️ It’s a long weekend, so you know what that means… Ferry chaos! I kid, of course, but BC Ferries is warning people to book ahead for this weekend as the Queen of New Westminster is out for repairs until spring next year, impacting Swartz Bay-Tsawwassen trips. [Vancouver is Awesome]

🚴 Local advocacy group Vision Zero Vancouver is calling for a return of the BC E-Bike rebate program. It provided a tax rebate to low income earners to purchase e-bikes. The program only had 9,000 spots which filled up last year in under 24 hours. Meanwhile they argue that BC provides $4,000 for electrical car rebates. 

🚧 Oak St. between W 64th and W 70th is undergoing sewer upgrades, with two lanes, and only one from 8 am-5 am Monday to Friday. This is expected to finish next spring. [City of Vancouver]

🚌 A reminder that TransLink will operate on Sunday service on Truth and Reconciliation Day this Monday.

CITY HALL

How do Vancouver residents feel about the mayor?

What happened: A new poll is shedding light on the challenges faced by Vancouver mayor Ken Sim at almost the halfway point of his term, as well as some positives. The latest polling from CityNews shows that only 25 per cent of Vancouver residents thought he deserved to be re-elected.

• To be fair to the mayor, this was similar in other large municipalities across Canada. Toronto mayor Olivia Chow had the highest rate of those who believed she should be re-elected, at just 38 per cent. 

The poll also asked residents if they supported higher residential tax increases. In Vancouver, 59 per cent said they would not, while the average across all large cities they polled was 62 per cent. Those who said Vancouver was a good place to raise a family was at 55 per cent, compared to around 70 per cent for Calgary and Edmonton. 

• Context: It’s worth remembering that Sim and his ABC party-majority voted to increase Vancouver city taxes by 10.7 per cent in 2023 and 7.5 per cent in 2024. 

Yes, but: The poll had some good news for the mayor. For residents in Vancouver, 55 per cent thought council was doing a good job, the highest in all major Canadian cities. Residents also thought Vancouver was a world class city at greater rates than other cities.

Recent controversies: After a controversy-fuelled summer, the mayor’s ruling ABC party is backtracking on their plan to pause the work of the integrity commissioner after much public pushback, according to the Vancouver Sun. The plan would’ve ended any public reports of the commissioner, a person whose job it is to investigate councillors. 

• The commissioner was undertaking an investigation of the ABC caucus after a complaint by Green Party Coun. Pete Fry. You can see how the optics may not have looked great!

What it all means: It’s hard to say if Sim and his team should be worried about these numbers. What is likely more concerning has been their self-inflicted wounds, like pausing the integrity commissioners’ work, which only became an issue because they chose to do it, the definition of self-inflicted. While it’s still too early to say if Sim has a Teflon-like persona, controversies such as converting a city office into his own personal gym haven't really damaged his reputation all that much.

• If there’s one that’s true with local government, very few people pay attention before, during and after an election!

EVENTS

Formline Calligraphy: The Creative Synergy of Bill Reid and Bob Reid | Bill Reid Gallery | Now until Feb. 2 | Showcasing the worlds of both artists, their experimentation and ongoing influence on today’s artists | Tickets $13

Iona Fyfe | Kay Meek Arts Centre, West Vancouver | Sept. 26-27, 7:30 pm | Come listen to Scottish folk singer with traditional, folk and pop songs | Tickets $45

2024 Signals Exhibition at VIFF | #160-577 Great Northern Way | Sept. 27-Oct. 6, multiple times | Annual showcase of innovative storytelling in video games, AR and virtual production | Tickets $36

Oktoberfest at Junction Public Market | 200 Granville St. | Sept. 27-29, starts at 11 am | Oktoberfest, which means beer, food and good times! | Tickets $15

Thai Festival Vancouver | Vancouver Art Gallery | Sept. 28, 11 am- 7 pm | Discover Thai food and enter to win a trip to Thailand | Free

Interior Design Show Vancouver 2024 | Vancouver Convention Centre | Sept. 28-29, 10 am-5 pm | New products and furniture from around the world, and local designers | Tickets $14-$42

Kevin Chan | Kay Meek Arts Centre, West Vancouver | Sept. 28, 7:30 pm | Come see one of Canada’s top 30 under 30 classical musicians | Tickets $42

Harvest Days | VanDusen Botanical Garden | Sept. 28 | Live music, food trucks, craft and more | Tickets $13

Sawubona Food Festival 2024 | Moberly Arts and Cultural Centre | Sept. 28, 12 pm-3 pm |  Discover African food from across all regions, kids free | Tickets $22

Disney and Pixar’s Coco in Concert | Orpheum | Sept. 28-29, various times | Come see Coco with accompanying music, a great event for kids | Tickets $26-$99

National Truth and Reconciliation Day | Vancouver Aquarium | Sept. 30, 10:30 am-2:45 pm | Ceremony, craft session, traditional First Nations food and stories from elders | Free

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VIDEO OF THE DAY

One thing I’ve discovered from reading far too much news, is there’s a different perspective that comes from outside reporters and publications covering local issues. It’s not that they necessarily shed new light on an issue, but the way they cover it provides people with additional information

This video from the German media outlet DW looks at the issue of housing as a human right in both Mexico and Canada, specifically the Sen̓áḵw development, from both the Squamish nation and locals opposed to it.

COMMUNITY HIGHLIGHTS

• Rogers Arena is finally getting new seats, but not until next year. They look pretty great! [Vancouver is Awesome]

• Looking to spend less time on the internet and more on the things that matter? Log Off is a free newsletter that helps you build a better relationship with social media, the internet and technology. Subscribe in 1 click. [Sponsored]

• Someone filmed the fog rolling into Vancouver. Very eerie! [Reddit]

• Uh oh, Vancouver didn’t make the list of the coolest neighbourhoods in the world. Only one Canadian city made it. [Daily Hive]

• A grade 11 student made a beautiful scale model of the Museum of Vancouver. [Vancouver Sun]

• A few Vancouver restaurants are offering Thanksgiving meals. [Straight]

• As someone who plans on running a 50 km ultra run soon, I’m in awe of this guy who ran from Deep Cove to Porteau Cove, over 80 km, which took 29 hours. [NS News]

• Want to have your announcement featured? Learn how here.

VANCOUVER GAMES

Congrats to Heather, Monique, Wade, Guy and Steve who all guessed that the Vancouver Guesser location in Wednesday’s newsletter was Shaughnessy Park.

Can you guess today’s Vancouver Wordle? Play it here.