In this episode of the Everyday Millionaire podcast, Patrick Francey and Steve Saretsky take a deep dive into Vancouver and British Columbia’s real estate markets, uncovering critical challenges and emerging trends that all investors and homeowners should know about. Despite efforts to curb speculation, Vancouver remains one of the most expensive cities in North America due to high immigration rates, a persistent supply-demand imbalance, and strict financing conditions that restrict developers from increasing new housing supply.

Landlords face increasingly harsh rent control measures, which often limit them to the point of either selling their properties or moving in themselves. The government’s recent flipping tax imposes a 20% levy on pre-sale contracts, even if purchased before the new legislation took effect. While designed to reduce speculation, it ends up discouraging investment and penalizing skilled tradespeople who are restoring older properties that could increase housing supply. Combine that with the fact that roughly 30% of new home construction costs are eaten up by government taxes and fees, and it's clear why new projects struggle to get off the ground.

In this engaging conversation, Francey and Saretsky highlight why diversification is essential. They explore how, when denominated in gold, Vancouver real estate prices have actually declined, underscoring the value of precious metals and foreign currencies in safeguarding investments. Maintaining liquidity, too, is vital amid rising inflation and a potential recession. With developers eyeing US real estate markets due to friendlier regulations, they discuss how Alberta remains a promising option domestically, but with a cautionary note about potential overbuilding.

Curious about how these insights can help you navigate the turbulent market ahead? Tune in to the podcast to hear how Saretsky’s deep understanding of market dynamics can give you the edge you need. Learn about strategic opportunities, emerging trends, and critical risks in the ever-evolving world of real estate.

Join Patrick and Steffany on this episode of Mindset Matters as they delve into the intriguing question: Habits or Discipline—what does it truly take to achieve the goals or visions we aspire to in our lives? Habits, at some level, we all have them, and ideally, we possess more good habits than bad ones. Countless voices suggest that cultivating good, or even great habits is the key to success. Best-selling books abound on breaking bad habits and forging new, positive ones. Yet, through our own experiences and observations, we've arrived at a different conclusion. It's not about adopting new habits, in fact, the term may not even be relevant.

What truly matters is discipline—a steadfast commitment to our future selves, fueled by self-love and a vision of who we aspire to become.

Tune in to Mindset Matters as we explore the transformative power of discipline in realizing our aspirations.

Join Patrick and Steffany for this episode of the Mindset Matters podcast as they explore the dynamics and the fine line between kindness and niceness. Delve into why being labeled 'a nice guy' might not always be a compliment for men. Discover how sincere empathy and authentic connections distinguish kindness from superficial niceties, unraveling the deeper motivations behind these two qualities and behaviors, and their impact on others." For the powerful women out there, if you have ever been called a BITCH here is why you can take it as a compliment! Listen in to find out why!