Be The Better Broker

What's the priority?

What should it be?

Yes, it is this simple.

No, it is not easy.

Do you?

I walked 100,000 steps through Tokyo last August, during an incredible heat wave.

If Japan interests you, you will enjoy this content.

It is not all about Brokering - the next two episodes very much are - ALL about Brokering.

It can't just be non-stop mortgage and real estate talk, sometimes I gotta share something real with you guys :) 

In Calgary Oct 28th?

Why not register for 6hrs of taking your Brokering game up a notch!

Check it out HERE

Date: September 8, 2025
Guest: Brendon Ogmundson, Chief Economist at BCREA

🏘️ BC Real Estate & Housing Market

• Brendon’s Role: Brendon Ogmundson is the Chief Economist at the BC Real Estate Association. He’s known for making very accurate predictions about the housing market.
• Housing Trouble in BC: The housing market in BC, especially in Vancouver, is struggling. Homes are expensive, and it’s hard for regular people to buy.
• Government Rules Aren’t Working: Some of the rules made by the government (like the foreign buyer tax) didn’t really help. Prices are higher now than they were before.
• Foreign Buyers Blamed Unfairly: Blaming foreign buyers for high home prices is not backed up by facts. Many people once called "foreign buyers" are now Canadian citizens who live and work here.

🏗️ Housing Starts & Construction

• Housing Starts are Down: New home construction is not growing—it’s actually going down when it should be going up.
• Rental vs. Resale Confusion: We need better numbers that show how many homes are for rent vs. for sale. Right now, about half of new homes are rentals, not homes people can buy.

🧮 Mortgages & Borrowing

• Mortgage Rules are Tough: A rule called the “stress test” has made it way harder to get a big mortgage. People can borrow about half as much as they could before 2016.
• 50-Year Mortgages?: Brendon thinks people should be allowed to have longer mortgages (like 50 years) just like big rental developers do. This would help more people buy homes.
• Upcoming Renewals: Many people who bought homes during COVID will be renewing their mortgages soon. These people have more income now, and they still have home equity.

💰 Affordability & Predictions

• Not Really Affordable: Even though some say we’re back to “affordable” home prices, that’s not true in places like downtown Vancouver. Prices are still high and homes are not selling quickly.
• Owning vs. Renting: Owning a home helps people feel stable. But current policies push more people into renting, which makes it harder to settle down.
• Future Price Spike?: If we don’t get more homes for sale, prices might suddenly jump by 20% in one spring season.
• Rental Projects Might Become Condos: Some developers might turn rental buildings into condos later on, selling them off in 10-20 years.

💼 Broker Advice & Industry Trends

• Advice for Brokers: Mortgage brokers should stay sharp and keep working hard. The market won’t get easier any time soon.
• Market is Slowing: It’s a “low and wide” market—things are moving slowly, and homes aren’t selling fast.
• Roadblocks from Politics: Some new rules are popular with voters but weren’t really thought through. They make things worse for the housing market.

The end of the line for all the research, reading, discussions, follow up, thinking, writing, and podcasting on this topic.

At least for 2025 I believe.

The final time (at least for 2025) that I will address this topic prior to wrapping up with a conclusion episode to the topic in the next week or so.

This is an interesting collection of comments from people in power that go back as far as 36yrs ago.