With his financial record, don’t give more power

The recent letters and the editorial criticizing Premier David Eby's attempt to grant himself dictatorial powers through Bill 7 are well justified.

Justin Trudeau tried the same thing early in the pandemic, but was forced to retreat by public outrage and solidarity of the opposition parties.

B.C. citizens need to apply similar pressure with their local MLAs.

The type of judgement that has seriously weakened B.C. by turning a $5-billion surplus into an $11-billion deficit in the past two years is not the kind of judgment that should ever be given unfettered power.

Dan Graham - North Cowichan

Rational oversight needed for Eby

With respect to the NDP government's proposed Bill 7, it seems Premier David Eby is taking a leaf out of Donald Trump's playbook by trying to use a declaration of emergency to give him and his cabinet dictatorial powers to bypass the legislature and enact any kind of policies and actions be they related to tariffs or other matters.

This is both unnecessary and undemocratic and is typical of the high-handed governing style of this government.

Further, on counter-tariff issues, I think it is dangerous to the country's overall interest if provincial premiers start taking individual actions outside of a co-ordinated strategy led by the federal government.

This is why some kind of rational oversight is required.

Graham Williams - North Saanich

Alice in Wonderland has lessons for Eby

Re: "Provincial government's Bill 7 is a disgraceful overreach," editorial, March 21.

Premier David Eby has run amok with Bill 7.

As the Queen of Hearts was wont to say in Alice in Wonderland, "off with his (legislative) head."

Sayonara, Mr. Eby.

Rick Lee - Victoria

Pass this legislation at your peril

Re: "Provincial government's Bill 7 is a disgraceful overreach," editorial, March 21.

I couldn't agree more with the editorial. I have been an NDP voter but if this bill passes, not anymore.

I am tired of a political class that believes they know best and the citizens should just thank them for their superior brain power.

The opposition parties that garnered one less seat than the NDP will not be permitted to debate anything, but the government will consult with Indigenous peoples who represent about 5% of the population. This is not democracy, it is a power grab similar to the "executive authority" used by Donald Trump.

Wayne Cox - Saanichton

Stand up to our leaders, make them work for us

Re: "Provincial government's Bill 7 is a disgraceful overreach," editorial, March 21.

There is old adage that hard cases make for bad laws. The threat to Canada makes for a hard case but Bill 7, the Economic Stabilization (Tariff Response) Act, is the epitome of a bad law. Not only is it unnecessary, its very existence does more harm than good.

Canadians have come together in unprecedented fashion to stand up to American threats and President Donald Trump's insulting attacks. Canadian premiers have been tripping over themselves to get in front of the crowd.

Ontario's Doug Ford bills himself as Captain Canada, threatening drastic retaliatory acts, then withdrawing them for lack of practicality, then threatening them again.

Alberta's Danielle Smith and Saskatchewan's Scott Moe are effectively threatening to sell out Canada by seceding from the federation if we don't surrender our energy, potash and agriculture. And B.C.'s David Eby wants to go all Viktor Orbán and pull an end run around our democratic institutions.

Meanwhile, our newly minted prime minister is struggling to show the world a coordinated approach, bolstering the military, affirming alterative foreign alliances, and promoting trans-Canada trade but it's a tough gig without a mandate and herding a room full of cats.

It's time the 90 per cent of Canadians who want to save this country stand up to their leaders.

Force Eby to re-holster his Bill 7, Smith and Moe to start pulling in the right direction, and engage in a federal election to choose a national leader with the experience, skill and mandate to realign Canada's economic, social, and international infrastructure so we can survive this bad case, united and strong.

Gerry Klein - Maple Bay

This bill would destroy our democratic system

Re: "Provincial government's Bill 7 is a disgraceful overreach," editorial, March 21.

Section 19 of Bill 7, the "Economic ­Stabilization (Tariff Response) Act" allows cabinet (read Premier David Eby, who has total control of cabinet) to "make a regulation under this Part for one or more of the following purposes: (c) supporting the economy of British Columbia and Canada."

Of course, almost any regulation could be justified under such an undefined non-specific broad purpose. This government recently determined that it was "good for the economy" to take away vested land-use rights from people operating perfectly legal short-term rental businesses.

What might be next under this new law? Eliminating other established and lawful activities to react to U.S. demands, or appease the American president would be possible under Section 19.

We shake our heads in disbelief at how executive orders can be made in Washington with no input or involvement of their elected congress and senate.

How are Section 19 regulations any different? This ability to "un-make laws" previously duly enacted by our elected representatives in the legislature is nothing short of the destruction of our democratic system.

We do not react to a loss of control south of the border by allowing ourselves to lose control.

Bill 7 must be stopped.

Elgin Bulova - Victoria

"To stand up to the U.S., we must first stand up for democracy and against autocracy at home," writes former B.C. premier Gordon Campbell."

We live in troubling times. People are frightened and feel vulnerable. Taking advantage of that David Eby's Bill 7 tries to establish autocratic rule for the next two years in B.C. It's the move of an aspiring autocrat. Now is the time for measured, thoughtful action. Taking away democratic rights weakens us and destabilizes our future.

Eby decries President Donald Trump's actions while copying him. He wants to rule, not to serve, the people of B.C. He is trying to set aside democracy for more than half his term. His claim that this is necessary to address issues that may arise due to Trump's tariffs is, put bluntly, nonsense.

This is the same premier who reneged on his commitment to call the legislature back right after the election. The election was Oct. 19, 2024. He did not call the legislature back until Feb. 17, 2025, well after President Trump declared his intentions regarding Canada. Eby delayed when it fit his political needs. Now, he introduces Bill 7 not to meet the province's or Canada's needs, but to serve his political wishes.

Mr. Eby says he wants to remove all trade barriers between provinces. Fine. Lead the way. Table legislation that removes all barriers B.C. imposes on other provinces. Get on with it. He does not need to usurp the democratic authority of the legislature to get that done immediately. Mr. Eby, take down those walls!

All people of B.C. deserve to be represented in these times. Any action should take place only with proper public scrutiny.

Democracy is messy. It can be frustrating, but it is a necessary check on autocratic power.

The best, and constitutionally correct, way to fight Trump's action is not by suspending our democratic institutions, but rather by fully and carefully considering our response to U.S. actions in our constitutionally enshrined parliamentary system. There is no need or reason to give Eby the dictatorial power he seeks. We should exemplify how a properly functioning democracy makes policy decisions through its legislative assembly in accordance with the rule of law. Eby engages the legislature despite his proclivities to do the opposite.

Every MLA, from every party, has an obligation to uphold our democratic institutions. The legislature can and will act quickly when needed. With Bill 7, Mr. Eby takes away our rights and our elected representative's responsibilities. We must hope that some New Democrats in his caucus remember they were elected as New Democrats, not New Autocrats. They should not acquiesce to the most autocratic bill ever tabled in B.C.'s legislature.

The legislature can be called back within 24 hours any time to properly debate, scrutinize and decide on any actions Mr. Eby dares propose. These are not, and should not be, personal decisions. Important decisions of this magnitude should be decisions where MLAs from every part of the province, from all parties, are included and held accountable.

All members of B.C.'s legislature are obligated to stand for Canadian democracy and due process, not to bow to autocracy.

We are Canadian. Our parliamentary principles and practises define our public institutions regardless of party. Canadian responsible government requires that the premier and his cabinet account to the legislature. That's the critical democratic link between a premier and cabinet and the people of the province.

Mr. Eby's Bill 7 is a power grab, pure and simple. It gives Eby the sole power to amend any law, change any regulation, change any tax, use your personal information and ignore the legislature for more than two years. No checks. No guardrails. No recourse. That is simply wrong for all of us regardless of political affiliation or what is decided in the U.S.

Mr. Eby's Bill 7 undermines your rights and the governing principles of Canada.

We are smart enough, strong enough and creative enough to withstand powerful changes. But we will fail, if we follow Eby's desire to undermine the democratic foundation upon which we stand.

MLAs should be against this unnecessary power grab. Even if the NDP MLAs cannot find a democratic conscience, then all opposition MLAs must.

To stand up to the U.S., we must first stand up for democracy and against autocracy at home.

Write, call, email or text your MLA. Tell them to stand for Canada and for our democratic values; tell them not to support this unconscionable power grab of the New Autocrats in Victoria.

So, finally, the federal uncertainty is over...Trudeau stepped down in January and prorogued parliament. This left a void at the federal level, at the very time the U.S. tariffs were initially being considered.

A new Liberal party leader (Mark Carney) was chosen on March 9th, and then he assumed the role of Prime Minister. Today, he has advised the Governor General that he is calling a federal election...Election Day to be April 28th.

The Conservatives, the NDP, the Bloc, and the Green Party will be fielding candidates and running in opposition to Liberal Party candidates.

Mark Carney had advised Justin Trudeau since 2020, and this bid to remain in power is being described by opposition parties as a fourth term for Liberal policies.

It's important to vote on April 28th...everyone's voice counts. Be involved, check out the candidates in your riding. It is not a time for apathy.

The real estate markets across Canada have been in "pause mode" in the past two months...markets do not like uncertainty. With a decision as to who will be in charge, at the federal level, and whether in a minority or majority position, is essential to unfolding developments for our more local real estate markets.

At this time, inventory here remains low, and prices remain relatively stable. A desire for rural lifestyles and a sense that a real estate purchase in unique areas is a preservation of capital decision (which is about our bottoming dollar value) also continue to drive activity in secondary home areas.

It will perhaps take until mid-May to see a specific market direction locally for 2025.

If there were any doubt that ­Premier David Eby lacks respect for the ­provincial legislature, he has removed it.

His government has tabled legislation — Bill 7, the Economic Stabilization (Tariff Response) Act — that provides far-reaching emergency powers to bypass the legislature.

The purpose of the statute, supposedly, is to address challenges arising out of Donald Trump’s tariff war.

But Bill 7, as drafted, basically gives Eby the power to do as he pleases, across almost the entire field of public policy, without any oversight or accountability.

For the next two years, the premier and his colleagues can change, rewrite or set aside any law or regulation behind closed doors.

Eby justifies this by asserting the need to act quickly, and he insisted that any actions he takes must be ratified by the legislature.

The latter statement is untrue. All the premier has promised is that he will inform the legislature, after the event, of what he has already done.

The longstanding principle, upon which parliamentary government rests, is advise and consent. That is to say, the government must advise the legislature of its intended actions, and the legislature must give its consent.

This legislation, if it passes unchanged, does away with that principle. There need be no consent.

To get a sense of how parliamentary due process is being overridden, a read of the act is illuminating.

Too much over-reach by NDP government

I find it ironic that Premier David Eby's rationale for Bill 7 legislation is that it allows him to move quickly to prevent harm to the B.C. economy. I would argue that Eby has caused more harm to the B.C. economy than any premier in modern history.

Bill 7 is just another insidious power grab, couched in protectionist language. We are already feeling the effects of provincial over-reach with Bills 44, 46 and 47, which have spawned the loss of property rights, dismantling of heritage protections, erosion of tree canopies and biodiversity and no commensurate infrastructure to support the unfettered development that has been foisted on our cities.

Let's hope this is a precursor to an early election, as it is time the public told Eby that we don't want to live under a dictatorship.

Nancy Di Castri
Saanich

Democracy dies with Eby's Bill 7

The announcement by Premier David Eby of the imposition of Bill 7, the "Economic Stabilization and Tariff Response Act," on British Columbians represents a dark moment in an increasingly dark time for Canada and the world, but especially for British Columbians.

No legitimate government has the right to give itself emergency powers without the discussion or the participation of a duly-elected assembly. And yet we are seeing this with increasing frequency in B.C., in Canada and around the world.

In Eby's case, as with other political leaders, the intent of the legislation is to guard against theoretical dangers that may occur in a potential future.

Frankly, this isn't good enough. It doesn't meet the litmus test of democratic practice that we have spent centuries of legal precedent and untold sacrifice, not to mention war and blood, trying to establish.

What it does represent is an impingement on people's democratic rights and the negation of their will. The imposition of this bill will cut even more deeply into the rights of citizens who simply want to live a good life under fair and balanced laws.

If, as British Columbians, we are willing to stand for this extraordinary imposition on our democratic rights, then we have no right to complain if, one day, those same rights disappear altogether.

Bill 7 is a thin edge of undemocratic authoritarianism inserted into our lives. It does not bode well for any of us, and it should be withdrawn or scrapped immediately.

Perry Foster
Duncan

Bill 7 pulls us apart during a difficult time

In a democracy, Premier David Eby's proposed Bill 7 Economic Stabilization Act is not required.

Each needed action for change or response to trade and tariffs should be presented in the Legislature for a vote and if the majority in the house agrees, passed.

What is being proposed is nothing short of a dictatorship and welcoming to Putin's Russia-style democracy.

At this time in history, we need to pull together rather than apart.

D'Arcy Morrow
Nanaimo

Nero fiddles while Rome burns

The King of England is figurehead of the Commonwealth, a group of nations fostering international cooperation and promoting shared goals such as democracy, peace and sustainable development.

Canada, a founding member and the largest member of the Commonwealth, is being economically attacked by the most powerful nation of the world with a stated aim of taking over the country.

What does the head of the Commonwealth do to organize its members to help Canada?

The head of the Commonwealth releases his favorite 10 songs.

Yes, Charlie fiddles while Canada burns.

John Barrand
Victoria

Today's the deadline for voting no

Re: "Affordability crisis from Saanich council," letter, March 15.

Saanich council is incapable or unwilling to make real-life decisions about what to give up in the budgeting process.

When families and companies are faced with tough financial decisions, as they are especially today about making ends meet, they are forced to dig deep and find things they can forego or postpone instead of spending money that we don't have. Not so Saanich council!

Instead, council has chosen to get more money outside of the five per cent borrowing limit through an alternate approval process. The total proposed extra borrowing amounts to about $9.6 million at annual debt servicing costs of around $908,000. There is waste in some of those proposals.

For example, bylaw 10025, the second biggest item at $3.1 million, includes more money for cycling infrastructure, including bike lanes, etc.

From what I see in my area around Royal Oak, the bike lanes on West Saanich, Royal Oak, including Mann Ave. and the recently installed traffic obstructions on Old West Saanich and Oldfield roads were unnecessary and are an utter waste of taxpayers' money.

They reflect an ideological rather than a business approach to managing Saanich's financial affairs.

As well, the public was given inadequate notice of these extraordinary financial proposals. The public was notified only through newspapers and consideration of the item at council's Jan. 20 meeting.

This is a highly questionable and cynical approach to managing Saanich's finances. Deficit and debt financing must stop.

You can still vote "No" by completing the forms at the municipal hall or printing them on your computer and delivering them to Saanich. The deadline is 4:30 p.m. today.

Evert Van Eerden
Saanich

Americans have paid our 'tariffs' for years

In response to recent letters about tariffs, let me point out that B.C. and Victoria have had "tariffs" on American property owners for several years. They are known as "speculation tax" and "property transfer tax."

Until December 2024, we had owned a residence in Victoria for more than 30 years. During that time, laws were passed saying if we sold the place, gifted it to our children or died, we would pay a 25 per cent tax on the gain between the current value and our cost.

If we died or gifted the property, we would have to find cash elsewhere to pay the tax.

Also, beginning about eight years ago, we were reclassified as "speculators", even though at that time we had owned the place for more than 22 years and it was enjoyed by four generations of our family. The speculation tax alone was almost $20,000 per year, and was in addition to paying the full amount of property taxes, with no exemptions.

In December we decided we could no longer afford the taxes and sold.

At the close of the sale, the B.C. government withheld 25 per cent of the gross selling price. At some point we might get roughly half of that back.

During those 30 years we put lots of money into the Victoria economy. Our family will miss our regular visits to Victoria, but with the attitude of some of the letters to the editor, we would be reluctant to admit that we are Americans.

Please don't get mad at Americans, most of us don't agree with what is happening. Remember, this too shall pass. Let's stay friends.

Daniel Cunningham
Fresno, California

We don't want to be like Puerto Rico

In keeping with the U.S. cry of "no taxation without representation" I think that the U.S. has much better candidates for statehood than Canada.

Washington D.C. has a populace of 700,000 (more than both Vermont and Wyoming) with no governor or fully-elected representation in both the U.S. Senate and the U.S. House of Representatives.

Similarly, the Commonwealth of Puerto Rico has a populace of more than 3.2 million and no representation. The U.S. citizens of both jurisdictions are subject to U.S. law without representation — ideal candidates to become the 51st and 52nd states.

I hope that this process would occupy the White House for the remainder of the term. In keeping with the current U.S. vogue of re-drawing the world atlas, should Ottawa consider offering provincehood to Alaska and Hawaii?

Paul Morgan
Central Saanich

Many fortune seekers travelled to the Yukon

With the recent report on the Trump family fortune beginning with a "restaurant and brothel" in the Yukon more than 100 years ago, it is hilarious the way left-leaning journalists spend their waking hours trying to trash Donald Trump constantly.

If they were true journalists and readers of history, they would know that the Yukon Gold Rush in the 1800s brought fortune seekers from second sons of England's landed gentry, to adventurers, to down-and-out hopefuls, along with women of ill repute, women hoping for rich husbands — all streaming up from the U.S., Victoria, Vancouver, the Chilcotin and many other points.

They all hoped to make it big, with many enterprising men and women providing supplies, rustic hotels and raunchy women for the influx of all the dreamers. Persevering through awful northern wilderness conditions, history has applauded their ingenuity and doggedness.

We pampered folks in this century couldn't manage without our cars, face creams and cappuccinos.

Well done, to the Trumps and their contemporaries of old!

Barbara Zielinski
Victoria

U.S. financial collapse stopped Harper's plans

Re: "Stephen Harper's memory is not selective," letter, March 15.

Based on my recollections of the time leading up to the 2008 financial crisis, my impression is that individuals do have both short and selective memories.

Stephen Harper advised us that his government was on a path towards deregulating Canada's financial institutions. By what seemed more like good luck than good management, he was "saved by the bell" with the financial collapse in the United States that year, before a Canadian de-regulation plan could be enacted.

Laurie McDonald
Gabriola

Let's rebuild trust to weather future storms

During the COVID pandemic, it wasn't the vaccines, masks or social isolation that I was afraid of, but their mandatory imposition.

I remember, early on in the vaccine mandates, trying to understand why we were threatening individuals with job loss and social isolation for not taking one of the new vaccines — while at the same time many individuals around the world wanted access to vaccines but were unable to get them.

When I tried to ask my MLA and MP for a pointer to whatever cost-benefit analysis had been done, they said it was a medical decision. When I asked my family doctor and Healthlink, they said it was a political decision.

My fear is that due to the imposition of mandates in the past, individuals will be less trusting of guidance in the future.

My hope is that, with a bit of contrition and humility, we can rebuild a level of trust that will let us weather future storms together.

Scott Newson
Nanaimo

Emergency Powers Bill

The B.C. Provincial government has just brought in a draft bill (March 13th) giving itself extensive emergency powers, in order to be able to act unilaterally to respond to potential further tariffs from U.S. This would allow the Premier to act without any legislative oversight. It has had first reading.

The issue and impacts of proposed tariffs are worrying, and they will cause disturbance to the way things were being done, but they do not fall into the category of war or global pandemic.

This is a worrying development by a premier who is in a minority position, without the deal he struck yesterday with the two elected Greens, to support his NDP. This unnecessary bill will be in place until May 2027...unless gov't decides to extend it. This is a very serious thing, covers many things, and is not perhaps limited to tariffs responses. The premier should call an election and let this be up to the electorate. This bill will allow the premier to be the sole decider of all things going forward.

Canada’s Next Prime Minister

Federally, on March 14th, the new leader of the Liberal party will be sworn in as Prime Minister, and his cabinet choices will also be sworn in. It is expected that he will call for an election, before the prorogued parliament reconvenes at end of March. We will then hear his ideas about negotiation with the U.S. President.

The premiers of the provinces are dealing with various specific and differing provincial issues and therefore are unable to speak broadly for the country itself. It will take time to begin interprovincial trade...long standing barriers in place between each province have to be removed. This does not happen quickly.

Federal Uncertainty Stalls Real Estate Momentum

In the meantime, across Canada, people are treading water about real estate decisions, and are again taking a wait and see response. The uptick in markets in October, November, December, January began to slow in February...due to uncertainty. If there is an early federal election, it may take until late May to see the pattern of the 2025 marketplace appear.

At the moment, locally, low inventory continues and prices remain relatively stable. Listings are up in Vancouver, which has been the main source of our buyers since 2016. A desire for the safety of a rural lifestyle and a preservation of capital (a currency concern) are still the two main drivers of action here. A pause in activity has once more developed.

Stay Tuned!!!

BOC Interest Rate Cut

The Bank of Canada cut the key interest rate this morning by a further 25 basis points. The key rate is now 2.75%. Part of the BOC decision to reduce was affected by the current tariffs from U.S. and resulting retaliatory responses from Canada. The impact of same is still unknown.

The BOC in both 2023 and 2024, according to business pundits, was alerting the federal government that there were no measures in place to grow the Canadian economy. This lack of attention to Canada's economy was apparently in place throughout Trudeau's lengthy leadership. Business minded pundits were also speaking consistently about this.

By changing the face of the leader, the federal Liberal party is hoping to continue as the party in power, going forward. Mark Carney also advised Trudeau, and was close to his policies...as was Christya Freeland (who also ran for Leader)

The Blackberry?

Canadians generally are an innovative group and many interesting opportunities have been created here. (What was the story on BlackBerry?).

Have the various innovations been supported and encouraged to grow/benefit Canada? Did the companies move to U.S. in order to benefit from their less regulated and more supportive stance? Hmmm...

I wonder about the retaliatory and angry response to the U.S. tariffs shift...tourism is one of the key financial outcomes right across Canada. The fuss is not at the citizen level and yet responses seem to target same. If tourism drops because Americans are nervous about visiting, then it is Canadians who will suffer. Your thoughts?

The best negotiations are not about retaliations, but about a seeking of ways to arrive at a productive middle place. Is that happening?

What Will Parliament Do?

At the moment, many things are being stated by Trudeau's cabinet. That is the "past". Parliament is not sitting. The new leader has not chosen his cabinet (which is the “present”). We should be hearing from them, and the prorogued parliament (done by Trudeau) needs to re-open. The opposition parties (3 of them) need to speak to these issues. An election should be called ASAP and the Canadian population’s voice will then be heard. (Ontario’s premier, Doug Ford, was wise to pull back his initial angry response earlier today and to call for a lowering of the temperature).

A real negotiation needs to take place at the federal level. Who's in charge right now? Just my "thinking out loud" thoughts...welcome yours!

Who will assume the new role of Prime Minister?

So, the forecasted outcome has been settled. Today, Mark Carney won the Liberal leadership "race" to replace Trudeau. He will also assume the role of Prime Minister.

It is expected that he will call for an immediate election. After being prorogued by Trudeau, the parliament will convene again March 27-29.

By changing the face of the leader, the federal Liberal party is hoping to continue as the party in power, going forward. Mark Carney also advised Trudeau, and was close to his policies...as was Christya Freeland (who also ran for Leader)

The U.S. tariffs issue will affect Canada.

Unfortunately, the federal government was not seeking economic health in the past several years of being in power. The current head of the BOC (Bank of Canada) had been trying to alert the party in power of this disturbing fact in both 2023 and 2024.

It's also odd that it's only now that long-standing barriers to inter-provincial trade are being discussed. This inability to trade between provinces has nothing to do with tariffs.

Some provinces may be more affected than others, but the usual way of doing business has changed. Reciprocal tariffs will be in place. April 2nd has been mentioned as the date this will begin. More later...

(Real estate updates from real estate boards are always one to two months behind. Transactions need to close in order to be counted in a month’s outcomes. In March, it is the January and/or February stats that are reported.

Today, on March 4th, the U.S. tariffs on Canada began. Canadian business leaders are of the opinion that the proposed counter retaliatory tariffs from Canada are political and not necessarily productive. The outcome of tariffs for each province will be different and are not yet fully understood.

Below, is the Vancouver Board February market report. Since 2016, the main buyer profile on Salt Spring has been a purchaser from Vancouver).

After a 46 per cent year-over-year increase of new listings in January, the number of newly listed properties on the MLS® in Metro Vancouver* rose more moderately in February helping keep market conditions in balanced territory.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,827 on Metro Vancouver's Multiple Listing Service® (MLS®) in February 2025, an 11.7 per cent decrease from the 2,070 sales recorded in February 2024. This total was 28.9 per cent below the 10-year seasonal average (2,571).

"After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions,” Andrew Lis, GVR’s director of economics and data analytics said. “With a potential Bank of Canada rate cut on the table for mid-March, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre-pandemic times."

There were 5,057 detached, attached and apartment properties newly listed for sale on the MLS® in February 2025. This represents a 10.9 per cent increase compared to the 4,560 properties listed in February 2024. This was 11.6 per cent above the 10-year seasonal average (4,530).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,744, a 32.3 per cent increase compared to February 2024 (9,634). This is also 36.4 per cent above the 10-year seasonal average (9,341).

• Across all detached, attached and apartment property types, the sales-to-active listings ratio for February 2025 is 14.8 per cent.
• By property type, the ratio is 10.7 per cent for detached homes, 18.5 per cent for attached, and 16.8 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

"Balanced market conditions typically bring a flatter price trajectory, and we've seen prices across all segments remain in a holding pattern for the past few months,” Lis said. "But with the active spring season just around the corner, it will be interesting to see whether buyers take advantage of some of the most favorable market conditions seen in years, and whether sellers change their willingness to bring their properties to market."

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,169,100. This represents a 1.1 per cent decrease over February 2024 and a 0.3 per cent decrease compared to January 2025.

Sales of detached homes in February 2025 reached 477, a 14.8 per cent decrease from the 560 detached sales recorded in February 2024. The benchmark price for a detached home is $2,006,100. This represents a 1.8 per cent increase from February 2024 and is virtually unchanged compared to January 2025.

Sales of apartment homes reached 976 in February 2025, a 10.6 per cent decrease compared to the 1,092 sales in February 2024. The benchmark price of an apartment home is $747,500. This represents a 2.8 per cent decrease from February 2024 and a 0.1 per cent decrease compared to January 2025.

Attached home sales in February 2025 totalled 359, a 10.9 per cent decrease compared to the 403 sales in February 2024. The benchmark price of a townhouse is $1,087,100. This represents a 1.2 per cent decrease from February 2024 and a 1.7 per cent decrease compared to January 2025.

Wow...it's meteorological Spring today, the first of March. This begins the seasonality that is treasured on the great Pacific Northwest Coast: early Spring, Spring, Summer, early Fall. March Break (mid-March) to Canadian Thanksgiving (mid-October) are key seasons for Salt Spring and the Gulf Islands.

The islands real estate market continues to follow the trends of the past two plus years: lack of inventory and relatively stable pricing. The main buyer profile has continued to be a Vancouver/Lower Mainland purchaser.

The reasons for seeking a Gulf Islands/Salt Spring Island property are two-fold: one, a desire to leave urban for rural (to be self-sufficient). There also continues to be an interest in preservation of capital through a real estate purchase in a unique area...emphasizing a currency concern.

There is not a lot of choice for a buyer. Most owners are not wanting to be sellers. There is always opportunity, though, and some buyers may need to consider shared ownership models as a way into a market that rarely sees first time buyers.

The outcome of the Islands Trust governance model (put in place in 1974, by the provincial government) was to cap growth through strict zoning/bylaws restrictions. It's important for buyers to read about the Islands Trust online...to pay attention to those bylaws/zoning restrictions...and to also look at the Official Community Plan and to Development Permit Area restrictions. These can supersede the original bylaws. It's important to understand the community "rules" before buying.

At the moment, there are approximately 95 listings (all property types...residential, land, commercial) on the MLS system. In a more balanced market, there would be around 380 listings. Lack of inventory remains the issue, and can lead to buyer hesitations.

2024 saw the beginning of many societal changes and 2025 appears to be continuing these shifts. It can be both alarming and energizing, when one encounters serious changes. We don't get to choose our "time", though...just our reaction to it.

The current referencing to potential U.S. reciprocal tariffs has reminded Canadians of their inability to trade between provinces. This is something that needs to be done. The lack of this has nothing to do with outside tariffs. It makes no sense to keep provinces isolated from each other, economically.

In B.C., business groups have recently come up with a plan to support economic pro-growth options. They point out that both provincially and federally there have been no-growth policies for at least a decade and that has nothing to do with outside tariffs either. Hmmmm......

The flexing of U.S. policies that emphasize that country's outcomes could also benefit Canada's rethink about our own dynamics. So many talented Canadians may have moved south in past years, as Canada did not offer the same opportunities. What were our governments doing?

The concern over the impact of proposed reciprocal tariffs, from our biggest trading partner, has brought forward many different "forecasts" about the economy, going forward. Real estate is one of the pillars of economic health in Canada, and the spectrum of current forecasts ranges from "we will continue to see slow growth" to "we will see a correction/downturn". Many scenarios talk about a softening of sales and lowering of prices, with an improving trend in 2028.

These are the same people who were insisting that the covid shutdowns of early 2020 would cause a crash and then we ended late 2020/into 2021 with "over ask" bidding wars and an erasing of inventory...plus dramatic price increases.

Our lower dollar is attracting interested U.S. buyers...although the federal government ban on foreign buyers (brought in on January 1, 2023 and put in place until January 1, 2025...then extended till January 1, 2027) may be in place, there are many exemptions and it doesn't apply to land or to commercial options. (The ban was brought in to help solve the lack of housing dilemma).

Lots to be concerned about...this month we will find out who will replace Trudeau and also whether there will be an early federal election. We will hear the budget from the provincial government and learn about their plan to create economic strength for B.C. The question of tariffs will be answered. And so forth and so on..... It is difficult to point to a trend at this exact moment. It may take until late April or mid-May to understand the tone of the 2025 market.

Meantime: it's a good plan to take advantage of this seasonal awakening, to enjoy the beauties of the natural world that are erupting all around us, to remember to get out and about (beachcombing, hiking, picnics, tastings, al fresco dining, farmers markets, kayaking, art gallery openings, spa retreats, sailing adventures, theatre discoveries, and day trips to companion islands....in other words, to remember to live...and to simply and calmly breathe).

Opportunity always exists...we just need to be looking. And your thoughts are? Always welcome!

The threat of 25% tariffs on Canadian goods, proposed by the U.S. President, has resulted in a "pause" for 30 days.

In this timeline, Canada will be required to show a serious response to the border issues of people illegally crossing into U.S., and also the passing of fentanyl into the U.S. from Canada. The Canadian government has taken solid measures to do this.

A similar response to the 25% proposed tariffs on Mexico, for southern U.S. border, also resulted in a 30 day pause.

It is essential that Canada would look into protecting its citizens from both illegal immigration and fentanyl drugs, quite apart from the U.S. request. This may be a long overdue response from the Canadian government, working on behalf of Canadians.

Meantime, there is a sense that a rupture of good relations between the U.S. and Canada occurred. That kind of easy trust may take time to rebuild. That said, it's important to keep strong connections.

However, the much vaunted idea of inter-provincial trade is long overdue. If this is the outcome of the initial tariff threat, that is definitely something that each province needs to address. If not done, then the provinces have misunderstood the importance of such a shift.

After a few days, while the dust settles, I will comment on current local market conditions and note any repercussions. Keep an eye, meantime, on our currency.

Lovely February, usually a traditional coastal reminder of the coming Spring, is visiting our coastal region wearing its Winter face. An Arctic Front is being forecast, with significant snow for Vancouver Island and the Gulf Islands. No one is ever ready for this weather downturn, especially after a Spring-like January. That said, it might only last a week...definitely a soft version of a real Winter.

It's difficult to suggest a usual first day of a new month market report, this time around. Threatened tariffs from U.S. will affect Canada if put in place. February 1st was stated as the date they would kick in. As soon as an outcome is known, will make my "early month report".

Meantime, listing inventory remains exceedingly low. Prices have remained relatively stable. After two and a half years of buyer inaction, sales did slowly begin in last quarter of 2024, with projections that this activity would continue in 2025.

The tariff issue with Canada's largest trading partner is the wild card item. More later!

Changing Market Conditions

Real estate markets are not static items...they change (and the shifts can be rapid), as different elements come to the fore.

2024 saw renewed sales in October, November, December...with projections for 2025 mentioning continuing low inventory and potential for resulting price increases.

Since then, the early days of 2025 have seen the prime minister stepping down, a Liberal party seeking a leader replacement, and an understanding that all this will result in a Spring federal election.

At the same time, the incoming president of the U.S., our biggest trading partner, appears to be serious about his 25% tariff hit for Canada. The premiers are not of one voice regarding response, and B.C.'s premier acknowledges that such tariffs would decimate the B.C. economy. Meanwhile, the absence of a leader/prime minister role federally means no unified voice for negotiations.

These early days of 2025 are showing mixed signals, and it may take until late April or May to see coherent outcomes in real estate activity.

The diminishing value of the Canadian dollar might be one reason owners are not wanting to be sellers...as a way of preserving capital through a real estate investment.

The Bank of Montreal (BMO) is stating that real estate outcomes may not improve markedly until 2029. Different reasons are given. Again, projections and trends can change quickly in any market-driven sector, and these concepts are not static reports...it is opinion.

Meantime, low inventory & buyer reluctance make it difficult for marketing decisions by realtors...and various marketing venues are noting less uptake. The year has opened with unexpected shifts...always interesting.

Changing Market Conditions

Real estate markets are not static items...they change (and the shifts can be rapid), as different elements come to the fore.

2024 saw renewed sales in October, November, December...with projections for 2025 mentioning continuing low inventory and potential for resulting price increases.

Since then, the early days of 2025 have seen the prime minister stepping down, a Liberal party seeking a leader replacement, and an understanding that all this will result in a Spring federal election.

At the same time, the incoming president of the U.S., our biggest trading partner, appears to be serious about his 25% tariff hit for Canada. The premiers are not of one voice regarding response, and B.C.'s premier acknowledges that such tariffs would decimate the B.C. economy. Meanwhile, the absence of a leader/prime minister role federally means no unified voice for negotiations.

These early days of 2025 are showing mixed signals, and it may take until late April or May to see coherent outcomes in real estate activity.

The diminishing value of the Canadian dollar might be one reason owners are not wanting to be sellers...as a way of preserving capital through a real estate investment.

The Bank of Montreal (BMO) is stating that real estate outcomes may not improve markedly until 2029. Different reasons are given. Again, projections and trends can change quickly in any market-driven sector, and these concepts are not static reports...it is opinion.

Meantime, low inventory & buyer reluctance make it difficult for marketing decisions by realtors...and various marketing venues are noting less uptake. The year has opened with unexpected shifts...always interesting.