Market IntelligenceEconomy

ULI Young Leaders Event with Andrew Ramlo

 

Mar 02, 2018

Written by 

Ryan Berlin

SHARE THIS

Our VP of Intelligence Andrew Ramlo spoke this week at Urban Land Institute - British Columbia 's Young Leader event, Data & Drinks. Andrew's presentation spoke to the following points:

https://cdn.rennie.com/images/images/001/339/883/original/15.jpg

As the Lower Mainland grows over the next two decades we will need to add upwards of 460,000 homes to accommodate both newcomers and our kids as they leave the family nest. This many new homes is equivalent to the combined number currently in the City of Vancouver, Burnaby, and New Westminster.

https://cdn.rennie.com/images/images/001/339/886/original/18.jpg

The drivers of housing price increases are varied: rising household incomes, low mortgage rates, foreign capital, speculation, and constrained supply relative to demand being the primary oft-cited factors. One factor that has (and will continue to) have a significant implication for prices is the Bank of Mom and Dad. This new-found wealth for those entering the housing market (representing 40-45% of BC's first-time home buyers) has worked to push prices above what these households could otherwise afford.

https://cdn.rennie.com/images/images/001/339/889/original/52.jpg

Creative and constructive supply and demand side responses are going to be needed to accommodate our growing and changing population in the coming years. Thank you to the ULI Young Leaders Group for hosting the event and advancing the discussion in these areas.

Written by

Ryan Berlin

Subscribe to weekly market insights

Receive insights, analysis, and perspective from our rennie intelligence team on the Lower Mainland’s real estate market.

Related

blog-feature-media-cm8q7jpjg3cid07spmbnjjnff
king county is seeing record population growth
New data from the Census Bureau shows that King County's population growth rate has reached its highest level in recent history.

Mar 2025

Article

5mins read

blog-feature-media-cm881ob66aalo07tycqyg2aut
migration in motion: bc's biggest population trends in 2024
Major shifts in longstanding international and domestic migration patterns in Canada have substantially altered the way our population has been growing. This has led to some notable changes in BC's largest metropolitan areas.

Mar 2025

Article

12mins read

Rennie Forbes Horizontal Red
  • Find a Home

rennie & associates realty ltd

copyright © 2025 rennie all rights reserved

By using this website, you agree to our Privacy Policy and Terms of Use.

do not share or sell my personal information

California DRE #02248150

MLS® Reciprocity

Disclaimer: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.

Disclaimer: This is not an offering for sale. Any such offering can only be made by way of disclosure statement. E&OE. The developer reserves the right to make changes and modifications to the information herein without prior notice. Photos and renderings are representational only and may not be accurate.