The Executive Vice President of the National Apartment / Investment Properties Group Team at CBRE, Lance Coulson, is featured in this episode. He operates in Vancouver and specializes in apartments; a perfect skillset to provide us with insight on how that asset class is performing during the COVID-19 pandemic.
Lance explains some unique aspects of CBRE and provides a look at how the Vancouver market was performing in 2019. He tells us what he has been seeing in the city during COVID-19 and what he thinks the market will look like in the coming months.Topics covered include:
• The journey that brought Lance to CBRE.
• What Lance and his team at CBRE spend their time doing.
• Why CBRE has been a great fit for Lance for such a long time.
• What was transpiring in Vancouver’s real estate market in 2019.
• Decoupling of income and rent levels.
• Current required price for purpose-built to make sense.
• What valuations are looking like recently and where they could be headed.
• The strata wind-up segment of CBRE and what its benefits are.
• How clients are adapting to a different insurance world.
• What Lance sees happening over the next 60 to 120 days.
• Lance’s opinion on rent forecasts.
• Potential first-time home buyers in Vancouver being forced to rent.
• New builds versus old builds.
• The area of Vancouver that Lance would put his money in if he had to today.
• The bright future for Vancouver.