Government Relations Update #531
Monday Morning Briefing
QUICK BITES ...
- As reported in Saturday's HAVAN Government Relations Update, the Province has announced its acquisition of the signature ICBC building on the waterfront in City of North Vancouver with plans to the property into 100s of new attainable homes for middle-income people. The new transit-oriented development is next to the Lonsdale Quay Market and is made possible through an agreement between the BC Transportation Financing Authority and ICBC, and Musqueam Nation, Squamish and Tsleil-Waututh Nation (MST Nations).
- Read Central 1 Economics B.C. Economic Briefing for the week of June 17 - 21, 2024.
- In Peter Armstrong's article in CBC, "The Bank of Canada's growing list of worries", he nods to the Bank's report last week that things are on track to ease inflation and for continued economic growth but there are real risks the Bank will continue to keep its eye on as it decides whether to cut rates again at the July announcement.
Global News reports in an not-surprising article, ‘Impossibly unaffordable’: Housing report ranks Vancouver 3rd most expensive in the world," Basic economics, folks: reduced supply (of land and housing) = increased demand (and cost).
