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CEO at Bosa Properties Inc.

This week’s decision by the Bank of Canada to lower its key interest rate for the first time in more than four years is a positive signal for the real estate market.  Higher interest rates have made it more expensive to build housing, ultimately bringing housing starts down when the number of homes being built in Metro Vancouver needs to be significantly scaled up to keep pace with population growth. While sustained cuts are needed to have a significant impact on the construction of homes, this week’s reduction is a signal to homebuyers of better days ahead – particularly for buyers of pre-sale homes completing in the coming years.  While none of us can predict where the market will go, Bosa Properties will continue to do what has allowed us to withstand fluctuations in the market for more than 35 years: delivering on our promises and maintaining trusted relationships with our customers and partners. 

Dan Driediger

Dan Driediger "Helping you with your Real Estate matters on both sides of the 49th Parallel"

4mo

Hope that is able to be the difference for those in harms way with the renewal of their mortgages. If this makes the difference then its great news. Time for everyone to tighten the belt and hang on, and for others to load up with more ammunition so that when more tough times come they are able to stand. With all the spending that governments are engaged in there is sure to be very tough times coming. No time to be spending a ton and thinking that one is invincible. Time to be a spendthrift and live light and sleep well at night

Roland van der Werff

Managing Director @ Haystack Recruitment | Technical Recruitment Expert

4mo

This first rate cut is definitely good for the sentiment

The rate cut is a much expected change in the trend and a sign for better times in real estate, for all parties involved

This is a step in the right direction! Great news.

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Jonathan Lau

Experienced and Knowledgeable person who is working in Real Estate industry

4mo

Thanks for sharing, Colin. That is great to see Bank of Canada has first rate cut. Bosa Properties is great to maintain trusted relationships with customers and partners. This is reason why Bosa is so successful in the market. People love Bosa Properties because their projects are at great location with excellent building design and products quality

Gregg Diachok

White Wolf Designs Inc . at CBC television and Motion picture and technicians , Iatse 891 ,ACFC local 2020

4mo

So why can’t we buy a home when we pay rent at extremely high rate’ when we should be renting to own

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Aubrey Holmes

Providing Strata Condos with Digital Parking Pass Convenience | Founder of Park10x Services Inc | Strata Condo Compliance and Parking consultant

4mo

Thanks Colin, I like Jamie Diamond (JP Morgan) am on "the cautious side" reading many factors that could see rates at 8% sooner than later. Bosa in more than 35 years has weathered fluctuations from 21% down to 1%.. We could all learn lessons from how your family achieved success within this broad range.

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Raminder Grewal

Contaminated Sites Expert - President at Keystone Environmental

4mo

hopefully the rate cut gives buyers more confidence to purchase

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