Home Advantage: Increasing the Benefits of Home Sales

In 2012, the construction and real estate sectors collectively produced 25.5% of the province’s GDP. This was the largest share, by far, of the province’s economic output.

However, even this reliable economic generator can be significantly influenced by the global economy. The decline in our housing market in 2008/09 demonstrated that even strong markets are vulnerable and a significant number of well-paying jobs are placed at risk.

The Greater Vancouver area alone, a total of 25,032 homes were sold on the MLS® in 2012, generating $1.6 billion in economic activity and 12,265 jobs. Home sales activity is vital to our communities.

Unfortunately, the government’s economic plan doesn’t fully recognize and support the important role the real estate sector plays in the economy.

To read the full article, click on the link below.

http://www.rebgv.org/sites/default/files/Real%20Estate%20Board%20of%20Greater%20Vancouver%27s%20Pre-Budget%20Submission.pdf

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