Vancouver Has Highest Rents in Canada

Vancouver home ownership continues to be further out of reach

Vancouver continues to be the city where average rents are the highest in the country.

Canadian Housing and Mortgage Corporation comes out with an annual report that includes important data on rental figures that were just released today. CHMC says the average rent in Vancouver for a two-bedroom place is C$2,181 per month, Toronto is second with C$1,961, and Victoria close behind at C$1,839.

Montreal is a bargain at C$1,096, cheaper than St John's at C$1,198.

The city leads in the highest rents in Canada

This average is for all rental units, including those who have had the same tenant for years.

When it comes to new two-bedroom rental units, Vancouver is still on top at C$2,601, followed by Toronto at C$2,405, and Victoria at C$2,351. Kelowna is in fourth place at C$2,073.

Looking at the vacancy rate, Vancouver is the lowest in the country at 0.9 percent, and Halifax in second place at 1 percent, and Kelowna at 1.3 percent.

Why is this happening?

Because of high interest rates and inflation, home ownership is even further out of reach of people who want to buy and so they continue renting. They also want to avoid moving to another rental because that may mean higher rents. Another reason is high population growth last year which kept demand high and supply low.

While Vancouver is such a beautiful city, trying to afford to live here is a terrifying reality...

 

Neighbourhoods that Gave Out the Most Candy

Science World lit up like a giant glowing pumpkin

Today people are recovering from their sugar highs from Halloween last night, while one academic has pored over the statistics to see which Metro Vancouver neighbourhood had the most trick-or-treaters.

Since around 2016, Andy Yan, director of the Simon Fraser University City Program has tracked which areas give out the most candy, and the winner like all previous years is... Douglas Park, around West 22nd Avenue and Heather Street near Cambie Village.

One child getting candy via a kiddie slide

One home reported handing out a whopping 2,853 candies, and another 2,475.

Other popular areas are New Westminster's Queen's Park, Surrey's East Clayton, Richmond's Steveston, and Victoria's Rockland.

Yan observed the popular areas for trick-or-treating are located near parks, making them walkable.

"[They have] a density, and yet at the same time, it's density through which I think people feel safe. They feel like they're part of a community," he said in a radio interview this morning.

"I think it's very much about the importance of green space and... this role of parks and how they kind of help anchor a community."

And despite the rising costs of candy this year, more than 80 percent of respondents said inflation did not deter them from buying candy to give out for Halloween.

Interestingly it's the wealthier neighbourhoods that have fewer trick-or-treaters like Shaughnessy, as Yan explains there is a lower "door-to-curb" ratio that forces kids to have to walk or run further to the next house, whereas if the houses are closer to each other, they can collect more candy in the same period of time.

Neighbourhoods near parks gave out lots of candy

It's all about the strategy.

Which includes more "destination trick-or-treating", a relatively new phenomenon where kids are driven around to other neighbourhoods to collect even more candy. 

Whatever happened to just being content with what they got in their own area?

There are also opportunities to trick-or-treat at neighbourhood businesses, as various BIAs or business improvement associations organise shops to give out candy during the day.

Another factor is new immigrants who may not have experienced Halloween before and are unfamiliar with the traditions involved, and hence didn't participate.

Nevertheless, with Metro Vancouver -- heck the province of British Columbia -- focused on densifying cities, will this mean even more candy for kids in the future?

(Almost) Free Lunch

Peri peri chicken with fries and a lemonade (not shown)

The South Granville Business Improvement Association enticed people to come to the neighbourhood this weekend, with street vendors set up in blocked off side streets, offering snacks to essential oils, jewellery and art.

South Granville is not an area I go to often, but went to visit a clothing shop celebrating its second anniversary. It sells Canadian designed leisure wear and the owner told me this year has been more challenging than last year coming out of Covid.

She said just opening a shop wasn't enough -- it had to look nice to entice people in, but also have good staff to chat with customers and encourage them to shop.

Was finding staff difficult?

For her, millennials were a group she could not understand. In job interviews, prospective candidates requested working three days a week, which made the owner wonder, don't they need to make money, or are their parents supporting them? But surely that won't last long?

She compared herself to them, recalling that she hustled several jobs in her younger years.

Nevertheless, her work ethic will put her in good stead, determined to find ways to get more business, and one key component is the shopping experience in the store. And what that looks like is something she will have to figure out; it may mean her spending more time in the store to meet customers, or hire someone who will be just as vested as her, which would be difficult.

Nevertheless, she is resolved to work her way out of the economic doldrums, though high interest rates and inflation aren't helping.

Afterwards I went to the nearby Meinhardt Fine Foods to take a look around and there was a long line for the deli section that was stocked with various baked goods, salads and deli items. 

I picked up a carton of oat milk and while paying for it, the cashier asked if I'd like a free chicken meal.

Sure!

Just around the corner from the entrance was a tent set up with a barbecue manned by many staff. There was peri peri chicken or beef smokies to choose from, and that came with fries and a glass of lemonade.

Score!

At first I thought I'd just bring this takeaway lunch home to eat, but it was too tempting to wait at 11.30am. The chicken was cooked through and the dry rub was not spicy at all. We were only given forks to eat it with, but I managed to clean it to the bone. The fries were thick enough and not salty which was good, washed down with lemonade with lots of crushed ice!

It was a delicious and almost free -- though several bees made a beeline for my lunch... I had to eat it quickly and yet try to hold myself back from swatting the bees away, worried they may sting me! 

Controversial Development Yet to be Decided

The condo project is right next to Chinatown Memorial Plaza

The fate of the plot of plot of land in Vancouver's Chinatown that has divided the neighbourhood, will not be known until June 12.

On Monday evening, 70 people signed up to speak for or against the proposal on 105 Keefer Street to build 111 luxury condos on nine floors right next to the Chinatown Memorial Plaza. Some 20 still have yet to give their say.

Most of the people who spoke in the City of Vancouver development permit board hearing that lasted almost two hours beyond the scheduled time, were against the project.

Seniors want affordable housing on that land

Beedie Holdings bought the property, currently a parking lot, 10 years ago. Twice it went to the permit board hearing, the first time its plans for the building were criticised for being too tall, and then in 2017 it was shorter, but was resoundingly rejected.

Now it is back to the permit hearing board again -- with no changes to the plans. 

Seven Chinatown groups are for the project including the Chinatown Business Improvement Association, saying post-Covid it is time to get any kind of economic stimulation in the neighbourhood. They believe having these condos will bring at least 111 more people into the area and patronising the businesses in the area.

However, those against complained the condos should not be for the wealthy but social housing for the elderly, as inflation has made it harder for them to afford rent and food. Meanwhile others claimed the design was not culturally appropriate for the area, as it is near the Chinese Cultural Centre and Dr Sun Yat-Sen Classical Chinese Garden.

Lily Tang, 80, arrived in Chinatown in 1968, and has lived in her social housing building for about 25 years. She says life in Canada is becoming more unaffordable.

The fate of the land to be decided on June 12

"We are not against constructing this building, but it's looking at our needs," Tang said days before the hearing. "The last several years the government hasn't built much housing for us. There used to be a bit, but now governments just give lip service."

Russell Chiong, president of Chinatown Today agrees. 

"There is no affordable or seniors housing and no safeguards against gentrification. It would just do irreversible damage to the sense of place and community vibrancy of Chinatown," he said of the proposal.

Even people who lived in neighbourhood who are not Chinese also told the hearing they did not want to see luxury condos built there, and felt strongly for the unique character of the area to remain.

Meanwhile, Rob Fiorvento, managing partner at Beedie, said last week that the development will bring much needed mixed-use housing to the area, which is aligned with the city's goal of making the historic community prosperous again.

However, Fred Mah, founder of the Chinese Community Centre and an elder activist for Chinatown, said at the hearing he met with Beedie, but they agreed to disagree. They could not come to any compromise and so he does not support the proposal, saying it is not culturally appropriate nor does it cater to seniors.

But now that the City of Vancouver is pushing for market housing as a priority, it may be that the Beedie plan will be given the green light. It's also interesting that people who were against the project in 2017 have changed their minds even though the plan hasn't been modified in the last five years...

Saving Donuts from the Dumpster

Colourful and saccharine donuts from Punk Rock Pastries

A friend of mine has a relatively new hobby -- picking up food for cheap that would otherwise go into the garbage.

He is constantly checking a Danish-based app called Too Good To Go, which promotes businesses that have leftover food items that can be purchased at a cheaper price and picked up the same day.

I asked if the deals were mostly towards the end of the business day, but he said they were posted all the time and even snapped up quickly if your fingers aren't fast enough to secure the deal.

With the price of food up 10 percent in Vancouver, people are looking out for deals to fill their stomachs.

The other day my friend picked up two boxes of donuts from Punk Rock Pastries in Burnaby (he lives in East Vancouver). I don't know how much they cost, but they were definitely a colourful (and very sweet) treat.

The toppings were saccharine, while the donuts were fluffy, they were quite sweet too. 

Although my friend likes the concept of not wasting food, he also looks at it as an opportunity to sample something new relatively cheaply, and if he likes it he'll go back and maybe pay full price for it.

Perhaps the most ironic thing is that he has been picking up mostly cakes and donuts when his previous mantra was to invest his calories in alcohol than desserts...

Grocery CEOs Raking it in, while Food Banks Struggling

Weston in casual clothes, trying to relate to the everyman

As people are shelling out more than 10 percent more for their food at supermarkets because of rising inflation, the CEO of a Canadian grocery chain got a C$1.2 million raise to take home C$11.8 million.

Galen Weston Jr is the scion of one of Canada's richest families that runs Loblaws, and as president and chairman of the grocery chain he received C$8.4 million -- but consultants felt he was underpaid.

Weston is president and chairman of Loblaws

According to Catherine Thomas, spokesperson for Loblaws Cos Ltd, it is misleading to characterise his compensation plan as a raise, since he only took over the title of president and chairman in May 2021. Prior to that he was executive chairman of Loblaws.

Weston is not the only one to take home a massive paycheque. 

Eric La Fleche, CEO of the grocery chain Metro Inc, received CA$5.3 million in compensation last year, up from C$5,018,907 from the year before.

And Michael Medline, CEO of Nova Scotia-based Empire Company that owns Sobey's, Safeway, FreshCo, Foodland and other grocery brands, took in C$8,651,285 last year, up from C$7.4 million the year before.

Nevertheless, the optics of getting over $1 million in these tight times do not look good.

Medline of Empire Co.

Food banks are seeing an unprecedented number of people accessing their services because they cannot afford to put food on the table. 

In Toronto, Daily Bread Food Bank which has 128 locations in the city, saw about 65,000 clients per month before the Covid-19 pandemic. In March the number quadrupled to 270,000.

Some people are resorting to eating only one meal a day, two if they have enough food. One woman interviewed on TV said she tried to become vegetarian to cut costs, but it didn't help much.

PROOF is a research program looking into policy interventions that can help reduce food insecurity in Canada.

However, food inflation is worsening the severity of food insecurity people are facing, resulting in them turning to food banks.

Daily Bread seeing quadruple the clients pre 2020

The most recent PROOF food insecurity report in 2021 found 5.8 million Canadians are food insecure in all 10 provinces, with one in four ending up at food banks.

The number is probably higher now.

Canada is fast becoming country with haves and have nots, with the gap widening faster by the day.

Hong Kong Consumption Vouchers -- Yay or Nay?

Should local residents get consumption vouchers again?

The debate over whether the Hong Kong government should issue consumption vouchers has resumed again, with Executive Council convenor Regina Ip Lau Suk-yee saying no.

"There was a limited effect on the economy when the HK$10,000 spending vouchers were given out again last year. Government resources are limited, so they should invest in the long-term development of Hong Kong instead. But appropriate anti-poverty measures are still needed," she said.

Does she revel in making people not like her?

Ip with her beloved scarves says no

E-vouchers were introduced in 2021 to force people to use up the money through spending it on their Octopus card or on their phone app like AliPay.

But for Ip to not have any sympathy for those who have been out of work but are not considered below the poverty level especially during these three years, any kind of financial help would be greatly appreciated to pay for everyday items, in particular food with the surge in inflation these days.

Perhaps Ip isn't aware of how inflation is hurting people hard these days, when her sacrifice was to not wear her Burberry scarves or buy any more items from the luxury brand until it "retracted or apologised for its unfounded allegations against Xinjiang".

Local celebrities were split for and against supporting cotton from Xinjiang in March 2021.

But back to the vouchers.

The Democratic Alliance for the Betterment and Progress of Hong Kong supports issuing vouchers at no less than HK$5,000. The DAB joins the Federation of Trade Unions, and the Hong Kong General Chamber of Commerce in supporting the move.

Kong says yes, but with a HK$50K limit

Interesting that Legislative Council member Doreen Kong Yuk-foon suggests consumption vouchers should only go to those earning less than HK$50,000.

How did the solicitor and politician come up with this salary amount as the borderline?