Each New Year comes with its usual traditions and in British Columbia that is the release of assessed property prices for 2021. Every year the government releases the data on which property taxes are based. The short of it is that on average home prices since Covid started in early 2020 prices have increased by 34%. That’s quite the number in particular if you realize that the province and in particular the Vancouver metropolitan area already was one of priciest pieces of land on the planet.
This is one of the biggest risks to the innovation economy in BC. I do not include the value of the home I live in as part of my net worth, and will not until I decide to sell it. I need a place to live after all and am fond of my home.
At Ibbaka we are seeing a lot of concern about inflation and higher interest rates. These will change how one segments markets, the value drivers that resonate, and how to approach pricing. Playing out the different scenarios is something all companies should be doing at this time. We have gotten too complacent about living in a low inflation, low interest rate environment.
This is one of the biggest risks to the innovation economy in BC. I do not include the value of the home I live in as part of my net worth, and will not until I decide to sell it. I need a place to live after all and am fond of my home.
At Ibbaka we are seeing a lot of concern about inflation and higher interest rates. These will change how one segments markets, the value drivers that resonate, and how to approach pricing. Playing out the different scenarios is something all companies should be doing at this time. We have gotten too complacent about living in a low inflation, low interest rate environment.