Home care software » Home http://lahpmmj.info Fri, 09 Jan 2026 04:10:43 +0000 en hourly 1 http://wordpress.org/?v=3.1.3 History of Vancouver’s Real Estate Market http://lahpmmj.info/history-of-vancouvers-real-estate-market/ http://lahpmmj.info/history-of-vancouvers-real-estate-market/#comments Sat, 13 May 2023 21:34:08 +0000 admin http://lahpmmj.info/?p=159 Continue reading →]]> 1981In 1981 there was a significant real estate market bubble. Back then, home buyers were faced with skyrocketing interest rates nearing 20%, and an annualized inflation rate of 12.5%. The unemployment rate was at 13%. This was the baby boomer period that saw a rise in demand for real estate.The housing prices at that time were of course almost 1/10th of what they are today, but the baby boomer bulge that stampeded into the housing market was also faced with increased closing costs. More than 20% of the homes bought were sold within 6 weeks, indicating a number of investors trying to realize a profit though a quick flip. A profit they wouldn’t see for years to come. The demographic shift led to prices being pushed up, and we can see afterwards from 1981 the market cooling off, or the bubble bursting. The market softened for about 7 years before it saw another significant spike.1990This year saw a drop of sales ranging from 20-25%. Those who invested back then, could only now realize an appreciation of their asset up to 5.3%. Interest rates in 1990 were also very unfavourable, topping somewhere near 14-15% for 1 and 5 year mortgage rates. The average price for a home was about $220,000-230,000. When the housing bubble burst, there was a national default rate of 0.28%.1990 was also the beginning of an increasingly strong housing market. Vancouver’s population as shown on the graph began to rise. It is estimated that about 14% of the properties bought at that time were sold within 6 weeks, indicating another frenzy of flipped properties and increased prices. The index of affordability was near 65%. There was a less dramatic jump in average prices compared to 1981, and a more modest levelling off until mid 1990′s.1998The housing market around this period was faced with a number of issues. The leaky condo crisis and the Asian Contagion both played a major role in Vancouver’s real estate market. MLS records have shown the number of sales only amounted to 16,000. Although 1998 was the beginning of a steadily increasing upswing, we will take a look at what brought the market into a slump.Real estate prices peaked in 1995 and the market saw a correction in the following four years. The market activity was exacerbated by the world economic environment. The ‘Asian Contagion’ began in Japan when lending institutions were stuck with bad loans. They were slow to react and couldn’t take decisive action.An inflation bubble occurred and they went into deep recession that also hurt overseas investors who held investment securities, and their economy went bust. The Asian financial crisis triggered the Russian financial crisis, and this domino effect brought worldwide economic trouble. We can see on the graph that around that time, real estate prices had bottomed out.The leaky condo crisis also brought demand down for detached homes, as households weren’t able to sell their condos and afford to make such a move. The world economy crisis led developers to capitalize on the market taking a dive, which in turn led to the reduced quality of housing structure.They didn’t build up to code which caused water to ingress through the roof, on top of unsuitable installation of membranes around the building envelope. This problem cost millions of dollars, forcing owners to shell out nearly $70,000 which they couldn’t afford.1999-2008Instead of isolating a specific year between this time period, it would be more functional to analyze all the events that led to a massive increase in home prices that we now face today. After the events surrounding 1998, there was a lot of pent up demand for housing that started a chain reaction with homebuyers.Sales of detached/ attached homes, and apartments increased 16% within a year, leading to a healthy recovery in the resale housing market. Interprovincial migration was also a factor in increased market activity, a net flow BC hasn’t seen for two years. In 2001, the Federal Government decreased capital gains taxes from 75%-50% to promote investing and increase sales volumes.In 2004, Greater Vancouver’s real estate market was impacted by record breaking activity. The continuing pent up demand, low interest rates, and word that Vancouver won the bid for the 2010 Olympics put the GVRD on the map as one of the hottest real estate markets to invest in, especially in Canada. All of this activity led to a burst of new home construction, seeing a 33% increase over the same period the previous year, or more significantly, a 137% spike from five years ago.In fall of 2007, real estate prices were at its peak. The benchmark price for a detached home was at an unheard of $771,250 according to MLS Link Housing Price Index. Sales in 2007 were upwards of 38,000. As we can see on the Real Estate Board of Greater Vancouver’s graph, the average home price for 2008 was $825,206.Vancouver’s growing economy, rising incomes, increased immigration, and higher employment had the market in a healthy position, but it began to cool down in the following months. The GVRD is still bound by its limited land base, surrounded by mountains, water and agricultural land reserve. The recession is also a determining factor as to why the prices are beginning to level off, and affordability is marginally improving as we enter a buyer’s market.

]]> http://lahpmmj.info/history-of-vancouvers-real-estate-market/feed/ 0 Here’s Why You Need to Charge Your Electric Vehicle At Home http://lahpmmj.info/here%e2%80%99s-why-you-need-to-charge-your-electric-vehicle-at-home/ http://lahpmmj.info/here%e2%80%99s-why-you-need-to-charge-your-electric-vehicle-at-home/#comments Sat, 01 May 2021 23:43:08 +0000 admin http://lahpmmj.info/?p=42 Continue reading →]]> It is no wonder BMW is at the forefront in making both stylish and functional vehicles that never compromise safety. Charging your electric vehicle with a home charging station has more benefits compared to public charging stations. With BMW’s electric model ranges, you will experience an entirely new driving experience. No feeling is better than gliding silently through urban and rural traffics. All of this is free of fumes and harmful emissions that impact the planet. Going electric with BMW is one of the best things you can do for you.

While BMW iX3 Charging Station is available in many places and shopping malls in Australia, it is a good idea to invest in home BMW charger as it offers a plethora of benefits. In fact, charging your electric car with a home charging station has benefits compared with public charging stations.

Here’s why you need to install BMW home charging station:-

Save money

Instead of buying battery power from a third-party source every time you need to charge your BMW, it is a good idea to pay a flat fee for a residential BMW charging station and have unlimited energy from the same source that keeps your house warm and other electric appliances running. Of course, you would see a spike in electricity bill. But, you’ll save money by saving yourself from frequent trips to the public station and paying for recharging your car. Home charging stations pay for themselves in the long run.

Finding your home charger is affordable too. There are many electric vehicles charging station providers in Australia from whom you can buy and rely on them for support. There are three different types of home chargers, including level 1, level 2, and level 3. Based on the type of charger you buy, the cost will be anywhere between $300 and $2000.

Convenient

On average, it takes anywhere from four to six hours to fully charge your BMW with a level 2 charger. Let’s imagine that you need to drive 50miles to attend a meeting and your EV is running low on battery. If you have to wait the whole night, take your vehicle to the nearby charging station, recharge, and then drive. Wouldn’t that consume your productive hours? The same scenario is much more manageable if you have the home charger installed. All you need to do is, plug the car in and go to sleep. By the time you wake up, you’ll have a fully charged BMW ready for the drive.

Safe

Charging at home is much safer than public charging stations for a range of reasons, including the safety of you and your vehicle. You’ll have to wait for a long time in the public charging stations to charge your EV, and there’s no safety, especially if you are in the middle of high way.

As you see, they’re less expensive, more convenient and completely safe as long as it is installed properly.

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