🧡 September 30 is recognized as the National Day for Truth and Reconciliation, also known as Orange Shirt Day. While my work is in real estate, I believe it’s important that we as a community take time to understand and reflect on the true history of the land we live, work, and raise our families on.

The Land Before Settlement

For thousands of years, what we now call British Columbia was home to thriving Nations including Coast Salish, Nuu-chah-nulth, Kwakwakaʼwakw, Haida, Tsimshian, Gitxsan, Nisga’a, Secwépemc, Tsilhqot’in, Dakelh, Wet’suwet’en, and many more. 🌿 These Nations cared for and governed the land long before settlers arrived.

Early Contact and Colonization

European contact began in the late 1700s, with Captain James Cook and George Vancouver. By the mid-1800s, colonies were established, and the gold rush brought settlers who displaced Indigenous peoples from their homelands. ⚓

Land Dispossession and Reserves

In the 1860s, colonial officials such as Joseph Trutch reduced reserve sizes and denied Indigenous land title. Nations were forced onto small reserves, often on poor land, with limited access to resources. Conditions were restrictive and harsh. 🏞

Federal Control and the Indian Act

In 1876, the Indian Act gave the federal government sweeping control over Indigenous peoples. It determined who was legally recognized as “Indian,” controlled governance, and enforced assimilationist policies. 📜

Churches and Residential Schools

Churches, funded by the federal government, ran Residential Schools with the purpose of assimilating Indigenous children. Children were removed from their families, forbidden to speak their languages, and subjected to abuse. Schools in BC such as Kamloops, Alberni, and Kuper Island became infamous for these practices. ✝️

Deaths and Unmarked Graves

The Truth and Reconciliation Commission (TRC) confirmed over 3,200 deaths of children in residential schools. In 2021, ground-penetrating radar at the Kamloops Indian Residential School revealed 215 probable burial sites, confirming what Survivors had always shared. 🕯

Closing of the Schools

Residential Schools in BC operated for nearly 100 years. The last federally run school in the province closed in 1984, but the impact continues through intergenerational trauma.

Apologies and Steps Toward Change

In 2008, the Government of Canada issued a formal apology. In 2019, BC passed the Declaration on the Rights of Indigenous Peoples Act, committing to align provincial laws with the UN Declaration on the Rights of Indigenous Peoples. In 2023, September 30 became a statutory holiday in BC. 🇨🇦

Why This Matters in Our Communities

As someone who helps people find homes, I believe it is important to understand the truth about the land we live on. Reconciliation is about more than a single day. It is about remembering, acknowledging history, and supporting healing and change.

🧡 Let us honour Survivors, remember the children who never came home, and commit to keeping the truth alive. 🧡

#TruthAndReconciliation #OrangeShirtDay #EveryChildMatters #BC #IndigenousHistory #CommunityMatters

Despite all the talk of a Canadian housing market “crash,” the data tells a very different story depending on where you look. According to the Canadian Real Estate Association (CREA), the national benchmark home price fell to $686,800 in August 2025, down 19.4% (-$164,800) from the peak. But this steep drop is almost entirely due to what’s happening in Ontario and British Columbia. The rest of the country? Still hovering near record highs.

Record Highs Across Most Provinces

Looking beyond Canada’s two most expensive provinces reveals surprising resilience.

• Newfoundland, a small market with fewer sales than Saskatoon, just set a fresh record high in August.

• In total, 8 out of 10 provinces hit all-time highs within the past year, and 6 of those reached records in just the past quarter.

• Provinces like Saskatchewan, Manitoba, Alberta, and the Atlantic region have only seen tiny declines, ranging from -0.13% to -1.97% from their peaks.

This hardly looks like a widespread crash—if anything, it shows that most provinces have only slowed in sales activity, not prices.

Ontario’s Steep Correction

Ontario has experienced the sharpest reversal in the country.

• From March 2020, when interest rates were slashed, to February 2022, Ontario home prices soared 59.9% (+$396,500).

• Since then, prices have dropped 25.6% (-$271,200).

• Even after that correction, prices remain 18.9% (+$125,300) above pre-rate cut levels—meaning affordability is still stretched.

Ontario’s market shows just how sensitive expensive real estate can be to changes in interest rates.

BC’s Market: Stickier, But Still Correcting

Here in British Columbia, the correction has been more modest.

• Prices jumped 51.6% (+$364,600) between March 2020 and April 2022.

• Since the peak, they’ve slipped 12.0% (-$128,800), bringing the benchmark to $942,800 in August 2025.

That’s about half the correction Ontario has seen, which highlights how “sticky” BC’s market continues to be—even with higher rates weighing on buyers.

The Real Driver: Cheap Credit, Not Population Growth

So, what’s really behind the changes? It’s not just immigration or slowing population growth.

The true driver has been cheap credit. Lower interest rates during the pandemic fuelled massive borrowing, especially in expensive markets like Ontario and BC. Immigration and interprovincial migration helped add pressure, but ultimately, interest rates determined just how far buyers could stretch themselves.

This is why Ontario and BC corrected so sharply when borrowing costs climbed—while the rest of the country, with lower price points, continues to hold steady.

Bubble Contagion and Interprovincial Migration

Another trend worth noting is “bubble contagion.” Buyers leaving frothy markets like Toronto and Vancouver often look to other provinces, rationalizing higher prices elsewhere.

For example, the condo discount in Halifax versus Toronto shrank from 50% in 2020 to less than 20% in August 2025. That gap illustrates how demand and pricing pressures spill over across provinces, even when local fundamentals might not fully support it.

What It Means For Buyers and Sellers

Ontario and BC are correcting, while other provinces continue to hit new highs. The big question: are those markets immune, or just late to the downturn?

For buyers and sellers in BC, the takeaway is clear—our market remains resilient, but it’s not immune to rate pressures. Understanding these dynamics is key to making smart real estate decisions in today’s climate.

Let’s Chat About Your Next Move

Whether you’re considering upsizing, downsizing, or making your first move, let’s chat about your options and how today’s economic trends may affect your buying or selling strategy.

✨ Tara Kennedy
🏡 REALTOR®, ABR, RENE, SRS
📞 236-992-8989
🌐 TaraKennedy.ca
📧 TaraKennedySells@gmail.com

#CanadianRealEstate #BCRealEstate #HousingMarketUpdate #CREA #OntarioRealEstate #BCMarket #HomePricesCanada #RealEstateTrends #BuyingInBC #SellingInBC #TaraKennedyRealtor #TaraKennedy #HomeSweetHome #CREA #HousingBubble #AlbertaRealEstate #RoyalLepageEliteWest #InterprovincialMigration

The holiday season just got brighter for Surrey residents! After more than 25 years dazzling visitors in Vancouver’s Stanley Park, the beloved Bright Nights holiday light show is officially coming back home to Surrey. Even better, it will be bigger and more magical than ever.

A Surrey Tradition Comes Full Circle

Bright Nights has deep roots in Surrey. Back in the mid-1980s, residents Bob Wingfield and Marg Barrett created an elaborate Christmas light display at their Newton home. With the help of local firefighters, the tradition grew and eventually became part of the BC Professional Fire Fighters’ Burn Fund, raising funds for burn survivors across the province.

In 1997, their lights were donated to the Burn Fund and became the heart of the Bright Nights in Stanley Park display. Now, decades later, the tradition is returning to where it all began.

As Surrey Mayor Brenda Locke put it: “This started in Surrey, and it is coming back home.”

The Festival Details

This year, Bright Nights will be featured as part of the Noel Holiday Light Festival at the Cloverdale Fairgrounds (Bill Reid Millennium Amphitheatre) from November 28 to December 28, 2025.

Here’s what visitors can look forward to:

• 🎇 Over 3 million dazzling holiday lights along an accessible walking path around the pond

• 🎡 A 50-foot Ferris wheel lighting up the skyline

• 🎁 An expanded Christmas market filled with festive treats and treasures

• 💖 Proceeds supporting the BC Professional Fire Fighters’ Burn Fund, helping burn survivors across B.C.

With more space to accommodate guests, Cloverdale offers the perfect setting for families, couples, and friends to celebrate the magic of the season.

Vancouver’s Loss, Surrey’s Gain

In past years, Bright Nights in Stanley Park featured a popular miniature train ride through the forest. Unfortunately, the train was recently deemed inoperable, prompting organizers to look for a new home. Surrey’s Cloverdale Fairgrounds was the perfect fit.

While Stanley Park will now host a new “Harry Potter: A Forbidden Forest Experience,” Surrey residents (and visitors from across the Lower Mainland) can celebrate the return of an event that truly belongs here.

Plan Your Visit

Bright Nights will run November 28 – December 28 at the Cloverdale Fairgrounds. Tickets are now available, and timed entry is required.

🎟 Get your tickets here 👉 www.noelfestival.com

✨ This holiday season, come be part of Surrey’s brightest tradition. Stroll under millions of sparkling lights, ride the Ferris wheel, shop the Christmas market, and help support a wonderful cause. ✨. Experience Bright Nights in Surrey Nov 28–Dec 28 at Cloverdale Fairgrounds! Millions of lights, Ferris wheel, market & family fun for a great cause. ✨

#BrightNightsSurrey #NoelFestival #SurreyEvents #HolidayLights #CloverdaleFairgrounds #ChristmasInSurrey #WinterFestival #FamilyFunBC #ChristmasMarket #SurreyBC #FraserValleyEvents #HolidayMagic #LightFestival #ThingsToDoInSurrey #SupportLocal

On September 17, 2025, the Bank of Canada announced a 0.25% cut to its key policy rate, bringing the overnight rate down to 2.50%. This marks the first rate cut in six months and the lowest rate in three years. For homeowners and prospective buyers, this could have important implications, depending on the type of mortgage you hold.

What This Means for Your Mortgage

With the prime lending rate now at 4.70%, here’s how different mortgage types are affected:

💸 Adjustable-Rate Mortgages (ARMs)

If you have an adjustable-rate mortgage, your interest rate is directly tied to the prime rate. With the recent decrease, your monthly payment could drop by approximately $13 per $100,000 owed. This can provide immediate relief on your monthly budget.

🏦 Fixed-Payment Variable Mortgages

For fixed-payment variable mortgages, your monthly payment remains unchanged, but more of it will now go toward reducing the principal. Over time, this means you pay down your mortgage faster and build equity sooner.

📊 Fixed-Rate Mortgages

Fixed-rate mortgages are not directly affected by the Bank of Canada’s policy rate. Instead, they are influenced by bond yields, which represent the return investors require for lending money over time. If bond yields decrease, future fixed rates may also decline, but existing fixed-rate mortgages remain the same.

✨ Economic Context

The Bank of Canada’s decision was influenced by several factors:

• Economic slowdown: Canada’s GDP contracted by 1.6% in Q2 2025.

• Labour market: Unemployment rose to 7.1% in August, the highest level in nine years outside of the pandemic.

• Inflation trends: Core inflation remains near the upper end of the Bank’s target range but is projected to ease, helped by the removal of Canadian retaliatory tariffs on U.S. goods.

📌 Key Takeaways

1. Adjustable-rate mortgage holders may see immediate savings.

2. Fixed-payment variable holders won’t see a change in payments, but your principal will grow faster.

3. Fixed-rate mortgage holders are unaffected for now, but future fixed rates may benefit from falling bond yields.

4. Economic trends and inflation remain important to watch as they influence future rate decisions.

Contact Me for Real Estate Guidance

If you’re wondering how this rate cut could impact your home buying or selling plans, I can help you navigate the current market and make informed decisions. Whether you’re looking to buy your next home, sell your current property, or explore your options, I can provide the insights you need to take advantage of today’s market conditions.

📱 Tara Kennedy ~ REALTOR
📞 236-992-8989
🌐 TaraKennedy.ca

#BankOfCanada #PrimeRate #MortgageTips #HomeOwnership #VariableMortgage #FixedMortgage #BCRealEstate #FinancialPlanning #MortgageSavings #InvestInYourHome #TaraKennedyREALTOR #CanadaRealEstate #HomeFinance #MortgageUpdate #InterestRateCut

The Metro Vancouver real estate market is showing signs of a gradual recovery. With easing home prices and more buyers stepping off the sidelines, now is a great time to understand the latest trends. Whether you’re planning to buy, sell, or stay informed, here’s a detailed look at the August 2025 market.

📈 Overall Market Activity in August 2025

Key metrics for August 2025 highlight renewed activity across the region:

• 🏠 Total home sales: 1,959 — up 2.9% compared to August 2024

• 📋 New listings: 4,225 — slightly ahead of last year and on par with the 10-year seasonal average

• 📍 Active listings: 16,242 — a significant increase from last year and well above the long-term average

Insight: Increased sales activity suggests more buyers are entering the market while listings remain healthy. This could be the perfect window to make a move.

🏘️ Sales by Property Type

🏡 Detached Homes

• 📈 Sales increased ~13% year-over-year

• 💲 Benchmark price: ~$1,950,300

• ⬇️ Down ~4.8% from last year and slightly lower than July

🏠 Attached Homes / Townhouses

• 📈 Sales rose ~10.5%

• 💲 Benchmark price: just over $1,079,600

• ⬇️ Down ~3.5% year-over-year

🏢 Apartments / Condos

• 📉 Sales slipped ~5.5% compared to August 2024

• 💲 Benchmark price: ~$734,400

• ⬇️ Down ~4.4% year-over-year

Insight: Buyers are returning to higher-priced detached and attached homes, while apartment sales remain slightly slower.

⚖️ Market Balance & What It Means

The sales-to-active listings ratio is a key indicator of market balance:

• 📊 All property types: 12.4%

• 🏡 Detached homes: ~9.3%

• 🏠 Attached homes: ~15.8%

• 🏢 Apartments: ~14%

Market implications:

• 📉 Ratio <12% → downward pressure on prices

• 📈 Ratio >20% → upward pressure on prices

• 🗝️ Currently, buyers hold meaningful leverage

💲 Price trends:

• Prices have eased ~2% since the start of the year

• Month-over-month, prices dropped ~1% from July to August

• Sellers are adjusting expectations, creating more opportunities for buyers

🔍 Spotlight & Key Trends

• 💼 Higher-end buyers are returning to detached and attached homes

• 📊 Rising sales may gradually reduce available inventory

• ⏳ Buyer-friendly market conditions may not last long

• 📈 If ratios climb toward 20%, sellers could regain leverage, pushing prices upward

Takeaway: Timing is critical. Acting before inventory tightens or prices shift can provide a competitive advantage.

✨ What This Means for Buyers & Sellers

• 🏘️ If you’re thinking of buying or selling, now may be a sweet spot

• 📊 Understanding neighbourhood specific trends can provide a competitive edge

• 🤝 Partnering with an experienced REALTOR® ensures you navigate the market confidently

📞 Contact Tara Kennedy – REALTOR®

• 📱 236-992-8989

• 📧 TaraKennedySells@gmail.com

• 🌐 www.TaraKennedy.ca

Stay informed, make smart real estate decisions, and take advantage of current market opportunities!

#MetroVancouverRealEstate #HousingMarket #VancouverHomes #BCRealEstate #BuyersMarket #HomePrices #DetachedHomes #Townhouses #Condos #RealEstateTrends #PropertyUpdate #PortCoquitlamRealEstate #PortMoodyRealEstate #CoquitlamRealEstate #PittMeadowsRealEstate #MapleRidgeRealEstate #GVR #NewWestminsterRealEstate #TaraKennedy #TaraKennedyRealEstate #TaraKennedyRealtor #HomeSweetHome #RoyalLepageEliteWest #RLP #GVRAugustStats #CoquitlamRealtor #PortCoquitlamRealtor #PortMoodyRealtor #PittMeadowsRealtor #MapleRidgeRealtor #NewWestminsterRealtor #BurnabyRealtor 

Travelling internationally is one of life’s greatest adventures. Whether you’re exploring sun-soaked beaches, navigating the busy streets of a foreign city, or heading overseas for work, safety should always be part of your plan. One of the simplest and smartest steps Canadians can take before leaving the country is to sign up for ROCA – the Registration of Canadians Abroad.

✈️ What is ROCA?

ROCA is a free and confidential service provided by the Government of Canada. It’s designed to keep Canadians informed and connected while outside the country.

By registering, you ensure that Canadian officials can reach you in case of:

• Emergencies at your destination such as natural disasters, civil unrest, or health crises

• Personal emergencies back home when family needs to get in touch urgently

• Travel advisories and updates that could impact your safety abroad

📆 How to Register

The process is quick and convenient:

• Register before you leave Canada, or even once you’re already abroad

• Sign up online (you can also register family members or travel groups)

• Travelling to multiple destinations? You can register all of them at once

🔐 Privacy & Security You Can Trust

Many travellers hesitate to share personal information online—but with ROCA, your data is secure:

• All information is protected under Canada’s Privacy Act

• Registration details are automatically deleted 12 months after your return (or earlier if you register again for a new trip)

💡 Why ROCA is Worth It

When you’re far from home, peace of mind is priceless. Emergencies can strike without warning, and ROCA ensures you’re never left without support. From major events like earthquakes or political unrest, to unexpected family emergencies, this service ensures you’re reachable and informed when it matters most.

👉 Ready to Register?

Don’t wait until you’re at the airport. Take two minutes today to set yourself up for safer, smarter travel.

🔗 Register for ROCA here

✨ As a local realtor who also loves exploring the world, I believe in travelling safe and smart. Whether you’re planning a quick getaway or an extended stay abroad, registering with ROCA is one of the easiest ways to protect yourself and your loved ones.

📞 If you’d like more tips for safe travel or if you’re looking to buy or sell a home here in the Tri-Cities I would be happy to help.

Tara Kennedy – REALTOR®
📧 TaraKennedySells@gmail.com
📱 236-992-8989

#TravelSmart #CanadaAbroad #SafeTravels #CanadianTravelers #PeaceOfMind #ROCA #RegistrationOfCanadiansAbroad #TravelSafety #StaySafeAbroad #CanadiansTravel #TravelCanada #TravelPreparedness #EmergencyPreparedness #TravelTips #GlobalTravel #CanadianTravelers #InternationalTravel #TravelAlert #TravelSupport #PeaceOfMindTravel #StayConnectedAbroad

In 2017, Vancouver became the first city in Canada to implement an empty homes tax, aiming to address the housing crisis by encouraging owners of vacant properties to rent or sell. The tax rate was initially set at 1% and increased to 3% in 2021. Proceeds from the tax have been allocated to various affordable housing initiatives, with a 2024 city report stating that $170 million raised by the tax has already been allocated to these initiatives.

📉 Impact on Vacant Homes

Since the implementation of the empty homes tax, the number of vacant homes in Vancouver has decreased significantly. The 2023 vacancy reference year declared vacant rate was 0.54%, the lowest since the inception of the tax. This indicates a continued downward trend in vacant homes, aligning with the goals of the empty homes tax program. City of Vancouver

💰 Revenue Allocation

Since the inception of the empty homes tax, $169.8 million has been allocated to support a variety of affordable housing initiatives. These funds are used to support the delivery of new social, supportive, and non-profit co-op housing through the City's Community Housing Incentive Program (CHIP) and acquisition of new land for housing.

🏛️ Proposed Changes by Councillor Sean Orr

COPE Councillor Sean Orr plans to introduce a motion at the next city council meeting aiming to increase the rate of the empty homes tax and end the exemption for unsold new units. Orr argues that these changes reduce the incentive for owners to sell or rent out empty homes and decrease the funds available for affordable housing.

If you're interested in learning more about the empty homes tax and its impact on Vancouver's housing market, feel free to contact me.

✨ Tara Kennedy

💼 REALTOR, ABR, SRS, RENE

📞 Phone: 236-992-8989

📧 Email: TaraKennedySells@gmail.com

🌐 Website: TaraKennedy.ca

Let's work together to ensure that Vancouver remains a city where everyone has a place to call home.

#VancouverHousing #EmptyHomesTax #AffordableHousing #VancouverRealEstate #HousingCrisis #CommunityHousing #VancouverCityCouncil #SeanOrr #VancouverBC #RealEstateVancouver #HousingPolicy #VancouverLiving #SupportAffordableHousing #VancouverNews #HousingInitiatives #VancouverCommunity