Science shows that staying positive can lead to a longer and happier life. It's not complicated: Improving your diet, spending time in nature, and exercising can improve your overall well-being. And there's one more key ingredient: compassion.

According to Epoch Times, compassion is being sensitive to the suffering of others (and ourselves) coupled with action. Empathy is just recognizing the suffering of others; compassion is acting to help. This simple shift can have profound benefits, including reduced loneliness, increased happiness, and lower cardiovascular risk. In fact, a 10-year study found that compassion has a more positive impact on wellbeing than smoking has negative effects.

In essence, performing kind deeds and taking real actions not only boost your own well-being, but they also foster meaningful connections. You'll find yourself surrounded by like-minded people who appreciate your kindness and are willing to lend a hand in return, which creates a cycle of positivity that leads to a life filled with happiness and genuine friendships.

About BCREA’s Housing Monitor Dashboard

The BCREA Economics team has created the Housing Monitor Dashboard to help REALTORS^® monitor BC’s housing market. This dashboard, which is updated monthly, provides up-to-date data on key variables for public education and use. Focuses include: 

• Resale Home Market

• Construction

• Rental Market

• Borrowing Costs

• Other BCREA Data

In the dashboard, the image and data are available for download under each chart, where possible.

For more information, please contact: Gino Pezzani.

In today's dynamic work environment, forging meaningful connections with colleagues is more than just a social nicety—it's a key to success. Building these relationships can heighten job satisfaction and create a supportive network that boosts productivity and well-being. To nurture camaraderie in the office, try to initiate casual conversations during breaks, actively partake in social and team-building events, and consistently show empathy and support.

However, while fostering these friendships, ensure you maintain a professional demeanor, respect boundaries, and avoid behaviors that could sideline others. It's noteworthy that studies, including one by the Society for Human Resource Management, highlight the positive impact of workplace friendships on collaboration, teamwork, and overall job engagement.

An increase in newly listed properties is providing more choice to home buyers across Metro Vancouver in October, but sales remain below long-term averages.

Learn more at www.rebgv.org

For more information, please contact: Gino Pezzani.

Calling all book lovers! As the pages of life continue to turn, a book club offers a way to embrace the joy of reading while fostering meaningful connections with like-minded individuals.

Whether you have a passion for classic literature, mysteries, memoirs, or any other genre, starting a book club tailored to your interests can be an enriching and rewarding endeavor.

Step 1: The first step in forming your book club is to decide which types of books to read. Your club could invite people to read and discuss one book, or everyone can read a book and give a report. You can limit the books to one genre, such as romance, or allow people to read whichever book they want.

Step 2: Organize the club’s structure. Decide on the frequency of meetings, such as once a month or biweekly, depending on everyone's availability. Rotate the host's home to keep things fresh and exciting.

Step 3: Compile a diverse reading list that encompasses various genres, time periods, and cultural perspectives. By including a mix of familiar classics and contemporary bestsellers, you'll ensure each member finds a book to enjoy.

Step 4: Invite people in your community to join the book club through word of mouth, community bulletin boards, or social media. When advertising the club's appeal, mention that it offers a chance to delve into great books and an opportunity to make new friends.

Step 5: Decide on the format and activities. During your meetings, encourage open discussions about the selected books. Offer prompts to explore themes, characters, and personal connections to the story.

Remember, starting a book club tailored to your reading interests is an enjoyable way to embark on literary adventures while forming cherished friendships. Happy reading!

Canadian prices, as measured by the Consumer Price Index (CPI), rose 3.1 per cent on a year-over-year basis in October, down from 3.8 per cent in September. Excluding gasoline, CPI rose 3.6 per cent year-over-year in October. Shelter costs continue to be the main driver of inflation, with mortgage interest costs up 30.5 per cent and rent up 8.2 per cent. Grocery price inflation continued to moderate, albeit slowly and still elevated at 5.4 per cent year-over-year. Month over month, seasonally adjusted CPI fell 0.1 per cent, largely as a result of falling gasoline prices. In BC, consumer prices rose 2.7 per cent year-over-year. The Bank of Canada's preferred measures of core inflation showed significant downward momentum for the first time in months, falling to around 3.5 per cent year-over-year after trending near 4 per cent since the spring. 

While the main contributor to lower inflation this month was falling gas prices, there were other strong signs of progress on inflation that should please the Bank of Canada.  The three-month trend in core inflation measures fell to between 2.7 and 3.1 per cent and inflation excluding mortgage interest costs fell to just 2.2 per cent. Those trends, along with slowing GDP growth and early signs of a weakening labour market, should keep the Bank of Canada sidelined in December and looking to lower rates in 2024. 

Link: https://mailchi.mp/bcrea/canadian-inflation-october-2023-november-21-2023

For more information, please contact: Gino Pezzani.

Canadian housing starts rose 1 per cent to 274,681 units in October at a seasonally adjusted annual rate (SAAR). Starts were up 4 per cent from the same month last year. Single-detached housing starts rose 5 per cent from last month to 59,911 units, while multi-family and others rose 1 per cent to 214,768 units (SAAR). 

In British Columbia, starts jumped 50 per cent from last month to 60,174 units SAAR in all areas of the province. In areas in the province with 10,000 or more residents, single-detached starts were unchanged from last month at 5,588 units while multi-family starts surged 65 per cent to 51,813 units. Starts in the province were 33 per cent above the levels from October 2022. Starts increased from last month by 9k units in Vancouver, 6.2k in Victoria, 2.9k in Kelowna, and 2.2k in Abbotsford. The 6-month moving average trend in BC fell by 0.3 per cent to 50,887 SAAR. 

Link: https://mailchi.mp/bcrea/canadian-housing-starts-october-2023

For more information, please contact: Gino Pezzani.

About 85% of North Americans have smartphones, which we rely on for texts, calls, web browsing, getting directions, ordering services and products online, and much more. Yet even if you know your way around your smartphone, you can boost productivity and reduce friction by enabling the right services and installing certain apps.

For example, almost everyone receives spam calls, but with Android and iOS, you can block many of them by toggling on the built-in spam blockers. There's no simple way to block all spam text messages, but you can block certain numbers, including spammers, through the built-in messaging platforms.

Notifications also might be bombarding you. Fortunately, you can turn off notifications from websites and low-priority apps in the settings menu.

Privacy is another major issue. Many phones and apps will share your location automatically—not just with authorized apps, but with friends and family, too. You can enjoy peace of mind by turning off location sharing.

Finally, if you're constantly running out of storage space on your phone, then remember you can store such things as photos and videos on the cloud. Besides cloud services offered by Google and Apple, you can opt for pCloud, Tresorit, or other apps.

For the complete news release, including detailed statistics, click here.

Vancouver, BC – November, 2023. The British Columbia Real Estate Association (BCREA) reports that a total of 5,373 residential unit sales were recorded in Multiple Listing Service^® (MLS^®) systems in October 2023, an increase of 1.8 per cent from October 2022. The average MLS^® residential price in BC was $968,786 up 4.1 per cent compared to October 2022. The total sales dollar volume was $5.2 billion, representing a 6 per cent increase from the same time last year. 

“Home sales have slowed as expected given high borrowing costs and a punishing stress test,” said BCREA Chief Economist Brendon Ogmundson. “However, the inventory of homes for sale remains quite low, despite a modest uptick in new listings. Consequently, markets have found balance, though at a very low level of activity.”

On a seasonally adjusted basis, active listings in the province have increased for the fifth consecutive month, but still remain low by historical standards and fall short of what is typically required for a sustainable market balance in the long term.

Year-to-date BC residential sales dollar volume was down 13.6 per cent to $63.1 billion, compared with the same period in 2022. Residential unit sales were down 105 per cent to 64,936 units, while the average MLS^® residential price was down 3.4 per cent to $971,802. 

For more information, please contact: Gino Pezzani.