VREP #517 | Why Vancouver Real Estate Feels More like 1998 than 2008 with Wendy Waters

The numbers say the market is merely slow. Everyone living in it says something worse. BCREA Chief Economist Brendon Ogmundson sits down this week with Adam & Matt to break down a first half that somehow undercut an already historic low. From the string of supply shocks driving rates up, to move up buyers single-handedly propping up the market, to the province's $1.5 billion bid to scoop up thousands of unsold condos, this wide-ranging conversation gets to the heart of why the gloom won't lift & what finally turns it around. So what word does a chief economist reach for? Why are first time buyers disappearing just as affordability improves? And when does the malaise finally lift?

2021 prices are gone and sellers are finally coming to terms with reality. But what's next? Cory Wright, owner and managing broker at William Wright Commercial, sits down with Adam & Matt for an unvarnished health check across every asset class in the world of commercial real estate. They dig into why office is drawing serious buyers, how some industrial now sells for less than it costs to build, and the case for the buildings nobody wants. He also unpacks the development logjam choking new supply and the overlooked secondary regions where savvy money is heading. Have we hit the floor? What is everyone sleeping on? And is the worst over? Don't miss this one!

Your home may be your biggest investment, but is it also your biggest risk? This week, James Milne and Brent Anderson, Business Development Directors at FirstService Residential, sit down with Adam & Matt to pull back the curtain on strata life in BC. From dysfunctional councils and deferred maintenance to the document red flags most buyers walk right past, this conversation is essential listening for anyone who owns or is shopping in the Lower Mainland. Why does Vancouver pay some of the lowest maintenance fees in North America, and is that actually bad news? What free online search should you run before lifting subjects? And what does a well run building look like from the inside? Don't miss this one!

What if the very thing that makes your home a winning investment is also the thing that puts our city beyond reach for the people who live & work here? Chuck Marohn, the Strong Towns founder and co-author of Escaping the Housing Trap, sits down with Adam & Matt this week to explain where we have gone wrong in North American housing: how shelter has become a financial asset, why prices are never allowed to fall, and why this approach can't deliver truly healthy, thriving cities. Do the ways we finance new construction fundamentally have to shift? Are Vancouver's tower-and-podium projects and master-planned communities deepening the problem they were meant to solve? And is the way forward smaller, slower, and built block by block? An outsider's take on Vancouver!

Forget 2008. Real estate research analyst Wendy Waters sits down with Adam & Matt to argue that today's Vancouver real estate market has far more in common with the late 1990s, a long, quiet stretch where prices barely moved, governments rebalanced their books, and global uncertainty hung over every decision. From flight-to-quality buyers to the wave of young Canadians still living at home, the conversation reframes what listeners should actually expect from the next several years. Is the era of housing as a wealth generator finally winding down? Why does this downturn refuse to follow the usual cycle playbook? And could this slump actually be setting up something healthier on the other side? Don't miss this one.

After five straight credit downgrades and a record deficit, BC is at a turning point. David Williams, VP of Policy at the Business Council of British Columbia, sits down with Adam & Matt to unpack how the province went from fiscal powerhouse to cautionary tale in just half a decade. From the end of four mega projects to a ballooning public sector and outmigration not seen since the 1990s, the conversation cuts to the heart of what's really happening behind the numbers. Are tax hikes and public sector layoffs now inevitable? Why is Canada projected to be the slowest growing economy in the OECD for a generation? And what does the mortgage squeeze mean for Vancouver real estate? Don't miss this one!

Three province-purchased SROs, a 39-day FIFA pedestrian takeover, and a long-promised revival have put Granville Street at the centre of the fight for downtown Vancouver's future. Jane Talbot, President and CEO of Downtown Van, sits down with Adam & Matt to unpack where the Granville Plan stands, why this summer could be a turning point for the entire 90-block core, and how the entertainment district's struggles ripple through every corner of the city. Will the three SROs finally be relocated? Can FIFA revive Granville Street for good? And what should Vancouverites expect when Georgia to Davie closes to cars next month for the FIFA? Don't miss this one!

Some Vancouver neighbourhoods are filling up with the next generation, while others are aging in place. Markus Moos, professor at the University of Waterloo's School of Planning, sits down with Adam & Matt to unpack what's driving the divergence, from the rise of 'forever young' districts to the knowledge economy concentrating at the centre and families getting priced out to the edges. Why do certain pockets surge with younger buyers and renters as comparable streets stagnate? Why is Canada still defaulting to 'tall and sprawl' while the rest of the world embraced missing middle long ago? And is the urban core quietly segregating Canadians by generation without anyone noticing? Don't miss this one!

Something feels off about Canada's economy, even if the headlines won't say it. Moody's Analytics economist Brendan LaCerda sits down with Adam & Matt to cut through the noise and explain why the country is stuck in a state of economic limbo, with growth grinding to a halt while businesses freeze in place. From the looming USMCA renegotiation to the surprising downside of high oil prices, Brendan offers an outsider's data-driven perspective on where Canada is really headed and what it means for Vancouver real estate. Why is a US economist so concerned about what's happening up north? Could AI quietly reshape the Canadian economy faster than anyone expects? And is Vancouver's next housing boom realistically off the table? Don't miss this essential check-in on the Canadian economy.

Vancouver is quietly being redrawn, and most people haven't noticed yet. The City of Vancouver's General Manager of Planning and Urban Design, Josh White, sits down with Adam & Matt this week to unveil what the next version of this city will actually look like. From the new Official Development Plan, the Broadway Plan's slow rollout & the Villages program reshaping neighbourhoods to revamping the PNE, Jericho & Northeast False Creek, Vancouver is set to transform. Where will the next wave of growth actually land? Which neighbourhoods are about to change the most? And what does a bigger, denser Vancouver mean for the people who live here? Don't miss this one with the man in charge!