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PLACE Real Estate Team - Adam Chahl

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Adam Chahl

Oakwyn Realty

1286 Homer Street  Vancouver,  British Columbia  V6B 2Y5 

Phone: (604) 800-8710

adam@chahl.com

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Canadian Housing Interest Rate Announcement - February 2023

Posted on Mar 15, 2023 in Economics

Canadian Housing Starts (February 2023) 


Canadian housing starts rose 13 per cent to 243,959 units in February at a seasonally-adjusted annual rate (SAAR). Starts were down 2 per cent from February of 2022. Single-detached housing starts rose 2 per cent to 64,281 units, while multi-family and others rose 17 per cent to 179,677 (SAAR).
 


In British Colum...

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Three US Banks Fail and Markets Freak Out

Posted on Mar 15, 2023 in Economics

US Policymakers Take Emergency Action To Protect Depositors At Failed Banks


Silicon Valley Bank (SVP) had a sterling reputation among the many tech start-ups it helped to finance. What brought SVB down was an old-fashioned bank run set off in 2021 by a series of bad decisions.

That year, the stock market boomed, interest rates were near zero, and the...

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Greater Vancouver Real Estate Statistics - February 2023

Posted on Mar 13, 2023 in Market Update

Provincial Housing Market Showing Signs of Recovery Heading into Spring


The British Columbia Real Estate Association (BCREA) reports that a total of 4,775 residential unit sales were recorded in Multiple Listing Service® (MLS®) systems in February 2023, a decrease of 46.5 per cent from February 2022. The average MLS® residential price in BC in 2023...

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Strong February Jobs Report Puts Canada’s Rate Pause in Doubt

Posted on Mar 13, 2023 in Community

Canadian Labour Market Jeopardizes Rate Pause


Today's Labour Force Survey (LFS) for February was much stronger than expected, questioning how long the Bank of Canada's rate pause can last. Following the 150,000 jobs gain in January, economists expected a small increase of 10,000 positions and a jobless rate of 5.1%. Instead, the economy added 21,800...

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Canadian Employment arises a few percent

Posted on Mar 10, 2023 in Economics

Canadian Employment (February 2023)


Canadian employment rose slightly to 20.05 million in February, up by 22,000 (0.1 per cent). The Canadian unemployment rate held steady at 5 per cent, hovering just above all-time lows. Employment gains were concentrated in health care and social assistance (+15,000), public administration (+10,000), and utilities...

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The Canadian Economy 

Posted on Mar 09, 2023 in Economics

Economic Insights from Dr. Sherry Cooper


The Bank of Canada was the first major central bank to hit the pause button on rate hikes in late January. Given the slowdown in inflation in the recently released January CPI, The Bank of Canada will refrain from hiking interest rates this month.

That is welcome news for homeowners with adjustable-rate mortg...

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