Real Estate aficionado. Vancouver Realtor & investor. Host of The Loonie Hour podcast.

Vancouver, BC
Joined March 2010
Steve Saretsky retweeted
My latest for Loonie Hour is #1 of a 2-part series looking at immigration/population growth in Canada. This one explains why population growth will be lower for longer EVEN WITH higher PR targets...an important and under-appreciated macro trend looniehour.substack.com/p/un…
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Steve Saretsky retweeted
Hey B.C. Voters, I figured you should know what you’re getting with PC Leader Lorne Doerkson: Years ago, I was living in a cabin and every pipe froze. He, his wife (and new baby) took me in on the spot. Wouldn’t accept rent. That’s who you’re voting for.
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Steve Saretsky retweeted
In 2 weeks (and it will be 7 months late), Canada will release their budget. And it will likely show a balanced (OPERATING) budget. The MSM, and propaganda machines will gaslight you into believing the magic. Here's National Bank's accounting for the magic.
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🚨 𝗦𝗼 𝗶𝘁 𝗕𝗲𝗴𝗶𝗻𝘀: Someone got quoted $𝟰𝟬,𝟬𝟬𝟬 𝗳𝗼𝗿 𝟳𝟬 𝗽𝗼𝗶𝗻𝘁𝘀 𝗝𝗼𝗯 𝗢𝗳𝗳𝗲𝗿 in a Trucking Company at a Manager Position (NOC: 70020) falling under 1.5 times category. 𝗖𝗼𝗻𝗴𝗿𝗮𝘁𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀 👏 @LenaMetlegeDiab you have undone all our years of effort to restore integrity under Express Entry system.
🚨🧵 𝗖𝗮𝗻𝗮𝗱𝗮’𝘀 𝗡𝗘𝗪 “𝗟𝗮𝗯𝗼𝘂𝗿 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻” is NOT Just 𝗔𝗻𝗼𝘁𝗵𝗲𝗿 𝗜𝗺𝗺𝗶𝗴𝗿𝗮𝘁𝗶𝗼𝗻 𝗦𝗰𝗮𝗺 𝗶𝗻 𝘁𝗵𝗲 𝗠𝗮𝗸𝗶𝗻𝗴? 🇨🇦💰 How could the proposed 150 CRS “Labour Market Integration” system become 𝗮𝗻 𝗲𝘃𝗲𝗻 𝗯𝗶𝗴𝗴𝗲𝗿 𝗳𝗿𝗮𝘂𝗱 𝗿𝗶𝘀𝗸 than the infamous 50-point LMIA scandal? This could prove to be 𝗼𝗻𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝗱𝗮𝗺𝗮𝗴𝗶𝗻𝗴 𝗽𝗼𝗹𝗶𝗰𝘆 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 𝗶𝗻 𝗖𝗮𝗻𝗮𝗱𝗶𝗮𝗻 𝗶𝗺𝗺𝗶𝗴𝗿𝗮𝘁𝗶𝗼𝗻 𝗵𝗶𝘀𝘁𝗼𝗿𝘆. 🇨🇦 Immigration Minister @LenaMetlegeDiab risks undoing years of efforts to restore integrity and public confidence in Canada’s immigration system. 𝗛𝗲𝗿𝗲’𝘀 𝘄𝗵𝘆. 1/5👇
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Steve Saretsky retweeted
The Bank of Canada's Three Preferred Measures of Core Inflation continue to trend lower.
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Steve Saretsky retweeted
Cumulative home sales so far in 2026 are running at the lowest in over 20 years. Also, how crazy was 2021?
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Steve Saretsky retweeted
Always a please talking real estate with my favourite real estate amigos @SteveSaretsky @ronmortgageguy and @danielfoch at the @ResearchVeritas conference with @ASclipoti
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Steve Saretsky retweeted
Docs labeled “confidential” just 2 weeks before snap elxn show @bcndp has committed to hand over 400 parcels of Crown land to First Nations, and craft a law to limit compensation to forest companies for loss of logging rights. My latest @BeatNorthern northernbeat.ca/opinion/rob-…
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Steve Saretsky retweeted
British Columbia's net debt has grown by $78,062,922,201 since the @bcndp took office in July 2017. LIVE TICKER: bcndpdebtclock.ca/ – at Vancouver, British Columbia
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Steve Saretsky retweeted
I’ve been advising govts on addiction since the 90s and in 2021 Mr Eby requested a personal briefing on addiction, homelessness and public safety in BC I presented results from the large body of research conducted in BC with corroborating international evidence He chose to implement policies that had clear harmful effects and one week after my briefing the BC govt ordered my university to destroy my team’s decades of scientific findings, also eliminating our ability to carry out funded research Rational action concerning addiction and public safety left BC’s capital some time ago and IMO the biggest challenge of the next elected govt is to reform and redirect relevant public services
This is David Eby’s legacy. He leaves behind tens of thousands of drug addicts who have lost the will to thrive, to succeed and even to live. He has turned B.C. from a province of happy prosperous citizens into a province of people struggling to stay alive, governed by batshit crazy lunatics.
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Steve Saretsky retweeted
Montreal! The Loonie Hour is coming to town! Come grab a drink or three with the boys and enjoy canapés and a lively macro discussion! eventbrite.com/e/20004986794… P.S. There is no Habs game that night! 😉
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Steve Saretsky retweeted
It should be obvious by now, but for those at the back, Canada's Crude Oil exports benefit ALL Canadians, even those here with me in Quebec.
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Steve Saretsky retweeted
Want to talk tax in #bcpoli? The chart below shows the trend of interest costs to BC's government. Buried in interest costs are the hidden tax of excess debt amplified by credit downgrades and rising bond yields. Credit quality determines cost of debt, and all credit agencies have downgraded BC's credit rating since Eby took power in 2022. Credit ratings are akin to a personal credit score but for a government, and BC's credit score has fallen. But that's just one part of the story. You have to apply that score to the amount of debt that is being financed. When Eby came into power in 2022 BC’s debt was $90.7B. 2026 is projected to end at $154.8B. And Eby’s own budget forecast shows that 2029 will see that number skyrocket to $235B. That’s a 250% increase over seven years, and it is before the latest round of goodies promised in this election cycle. This costs every BC resident. The budget estimate for 2026 is $6.5B in interest charges. That rises to $8.9B in 2029, or about $25M per day. That is money that doesn't build anything. It just pays bondholders. But the kicker is that the estimate is priced off of a steady yield of around 4.7% or 130 bps over the Bank of Canada ten year bond. That yield that has already jumped 50 bps, and is not factored into the forecast below. So two trends are costing B.C. residents. Overall borrowing costs are rising globally thanks to bond yields rising. And then BC’s credit quality continues to fall with no plan for change. This is not how you "Build BC Strong". It is how you transfer money from taxpayers to bondholders.
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Steve Saretsky retweeted
Context: This would raise BC to the highest income tax rate since 1981, and make the province (by a decent margin) the highest tax rate jurisdiction in Canada. The gap with Alberta would be back at 1990s levels. Data: financesofthenation.ca/statu…
NEW - @Dave_Eby proposes to raise income taxes on top two brackets by 2 percentage points, to generate $1b in extra revenue for BC. • $190,405-$265,545 will go from 16.8% to 18.8% • $265,545-$1m will go from 20.5% to 22.5% • New $1m+ tax at 24.5%
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Eby is such a jerk. Jimmy Pattison is one of the greatest British Columbians ever. He has likely created more jobs than anyone in BC history, and has been BC’s greatest philanthropist and booster. Eby’s attack on a 98 year old model citizen is a gross appeal to class warfare and the politics of resentment. The NDP at its very worst.
WATCH: David Eby doubles down on Jim Pattison comments - as a former NDP premier accuses Eby of "denigrating an icon". #bcpoli @GlobalBC @CUrquhartGlobal
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Steve Saretsky retweeted
So let me get this straight, @Dave_Eby launches an entire campaign around Buy Canada, then goes and stands in front of Cdn-owned Save-on-Foods and slams BC billionaire owner Jimmy Pattison (who donates 10% of annual wealth per year to charity) as a profit gouger, when Pattison is helping him fund $75m towards the NDP's new St. Paul's hospital through the largest donation by a private citizen to a medical facility in Canadian history? Ooooooookay.
Interesting point re: @Dave_Eby's sudden war on Cdns Jimmy Pattison and Galen Weston as billionaire gouging grocery owners, w/out calling out US giants during campaign urging buy Cdn. "Jimmy and his family own Save On Foods, they are going to be just fine," says Eby. Ignoring perhaps Pattison's many donations to hospitals, etc in BC.
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Steve Saretsky retweeted
The Canadian Federal Government must refinance 40% of its outstanding debt over the next 2 years as bond yields rise. This will increase debt-servicing costs. The good news is that the Feds have flattened the maturity profile compared with July of this year. See below.
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Steve Saretsky retweeted
Premier Eby says BC home prices are falling faster than anywhere in Canada and rents have dropped 26 months straight. His answer is to raise the spec tax again and hit builders with an escalating "Unsold Condo Tax." This is the same government that posted a record $13.3 billion deficit, raised income tax on the lowest bracket, expanded the PST, and is cutting 15,000 public service jobs to plug the hole. When a government runs out of money, every problem starts looking like a reason for a new tax. Sir Winston Churchill is credited with the right response: a nation trying to tax itself into prosperity is like a man standing in a bucket trying to lift himself up by the handle. His own numbers sink his so-called plan. In a falling market, nobody is hoarding condos to flip. Finished, unsold units are a builder's inventory, and builders want to sell them. They're unsold because the buyers have gone. The "up to 5,000 homes" is a ceiling disguised as a promise. And those units already exist. Forcing them onto the market adds zero new supply. It just transfers the loss from the builder to the lender and tells both not to finance the next tower. Unlock 5,000 homes today, and you lose far more that never get built in 2029. Some builders are holding units back waiting for prices to recover? Carrying costs already punish that. The tax can't tell a strategic hold from a failed sale, so it hits both. B.C.’s spec tax just doubled this year, with another increase already legislated for 2027. There isn't a full year of data on the last hike, and he wants another one. Blaming Trump's trade war while raising taxes on BC property doesn't lower anyone's costs. It’s another example of how fiscally inept Eby’s government truly is. And "BC Strong" is the Liberals' "Canada Strong" with the province swapped in. Borrowed slogan, borrowed money, borrowed time. #bcpoli
Today in Burnaby I committed to turning more empty condos into homes people can afford. Our housing plan is working. Home prices are falling faster in B.C. than anywhere else in Canada, rents have dropped 26 months in a row, and the speculation and vacancy tax has turned 20,000 empty units into homes. But too many finished condos are still sitting empty or unsold. So we'll raise the speculation and vacancy tax by one point and bring in a new Unsold Condo Tax on finished condos left empty for more than a year, climbing every year they sit. That could unlock up to 5,000 homes for British Columbians. The conservative parties have opposed nearly every measure we've taken on housing. They'd rip up the plan and hand the market back to the speculators. With Trump's trade war driving up costs, we have to keep pushing yours down. That's how we build B.C. strong. 🇨🇦
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Steve Saretsky retweeted
One of these things is not like the other things cc @Dave_Eby
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