Imagine paying $2,600 for a tiny one-bedroom apartment, needing a $200,000 salary just to qualify for a basic home, and still barely making ends meet.

This isn't a dystopian future - it's Vancouver right now.

In fact, Vancouver just ranked as the third most unaffordable city in the world, surpassing New York and London.

And it's about to get worse.

Last year, we watched thousands of British Columbians pack their bags and head to Alberta.

They're not just leaving - they're running.

Today, I'm going to show you why this exodus is happening and reveal the alternatives that could save you thousands every month.

Vancouver's Affordability Crisis

The numbers tell a shocking story.

A median-priced home in Vancouver now requires an income of over $200,000 – that's nearly triple the average Canadian household income.

That's also not a house, it's going to be a townhouse or an expensive condo.

For many, the dream of homeownership in the city has become completely unattainable.

But it’s not just hosing driving financial strain.

Everyday living costs are spiralling out of control.

Groceries in Vancouver cost 20% more than the national average, forcing families to stretch their budgets on even the most basic necessities.

Gas prices, consistently the highest in North America, add to the financial burden, especially for those commuting to work or managing family obligations.

Meanwhile, rising utility bills and unaffordable childcare further squeeze household budgets.

For renters, the situation is equally bleak – skyrocketing rents leave little room for saving.

The result?

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Will Trump's tariffs cause a mortgage renewal crisis?

As the housing market continues to face unprecedented challenges, the impact of tariffs on Canada is creating ripple effects throughout our economy. The combination of fluctuating mortgage rates and an ongoing recession has many homeowners concerned about their financial future. The housing crisis is deepening, particularly in major urban centers, while real estate news indicates significant market adjustments ahead. 🏘️ 👉 Let's navigate these changes together.

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👉 Learn more, call Jessi at 604 716 6474, email jessi@jessijohnson.ca or schedule a time to chat here: https://calendly.com/jessirealestate

Pick up my book here: https://amzn.to/3uX43SA

As someone deeply connected to the housing market, I want to shed light on the significant impact of recent U.S. tariffs on the Canadian housing landscape.

What makes this particularly noteworthy is that these aren't just abstract economic policies affecting large corporations—they have real, tangible consequences for individual homeowners and potential buyers.

Tariffs' Impact on Home Construction:

The most immediate and profound impact is on home construction.
Canada, being the largest softwood lumber supplier to the U.S., finds itself in a challenging position.

These tariffs mean increased prices for U.S. builders, which directly translate to challenges for Canadian lumber producers.

We could witness lumber companies facing production cuts, potential closures, and significant workforce reductions.

Once we apply counter-tariffs, the ripple effects extend to steel and aluminum industries, which are crucial for high-rise condos, appliances, and infrastructure.

Developers, unable to absorb these increased costs, will inevitably pass them directly to homebuyers, resulting in substantially higher home prices, especially for new constructions.

Housing Supply and Affordability Challenges:

The consequences stretch far beyond initial construction.

Cities like Toronto and Vancouver, already grappling with severe housing shortages, will experience even more pronounced challenges.

Higher material costs could delay or altogether cancel construction projects, further constraining housing supply.

This scarcity will likely drive up prices for existing home inventories, causing a significant spike in resale home demand as new builds become increasingly unaffordable.

Even homeowners looking to undertake modest renovations will feel the economic pressure, with materials like lumber, glass, and hardware becoming more expensive.

Ongoing labour shortages will compound these challenges, driving renovation costs even higher.

Regional Market Variations:

Regional variations will add complexity to this economic landscape.
Ontario might experience substantial shifts in its automotive sector, while Alberta's oil-dependent regions could face unique economic challenges.
Interestingly, not all market participants will suffer.

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👉 Learn more, call Jessi at 604 716 6474, email jessi@jessijohnson.ca or schedule a time to chat here: https://calendly.com/jessirealestate

Don’t forget to pick up a copy of my best-selling book on Amazon, Rockstar Real Estate Investing if you haven’t yet and we are here for your questions at any time.

Pick up my book here: https://amzn.to/3uX43SA