A one-day flash sale in Surrey City Centre cut condo prices by 25%, sparking strong buyer interest amid weak Greater Vancouver sales. Despite high prices driven by COVID-era demand and government costs, many first-time buyers remain priced out. Government policies, including taxes and bans on short-term rentals, hinder housing supply. Federal measures to reduce taxes on new homes and support development costs may help, but coordinated efforts and more non-market housing are needed.
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