chat gpt open ai real estate

ChatGPT for Real Estate

The long-anticipated ChatGPT and Whisper APIs were released on March 1, 2023, giving developers access to cutting-edge language and speech-to-text capabilities: “Through a series of system-wide optimizations, we’ve achieved 90% cost reduction for ChatGPT since December; we’re now passing through…

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city of vancouver positioning year

Positioning Year

For the first time, the Canadian Housing Statistics Program (CHSP) published data on investors and the residential properties they owned in Nova Scotia, New Brunswick, Ontario, Manitoba and British Columbia for 2020. The proportion of investors in British Columbia came…

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vancouver city housing exp rentals boc policy rate

Pause and Reflect

The Bank of Canada made its first rate hike of the year, increasing its key policy interest rate by 25 basis points to 4.5%, sending the prime rate to 6.70%—the highest since March 2001. Adjustable-rate mortgage payments will jump about…

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happy chinese new year 2023 year rabbit zodiac vancouver real estate

Year of the Rabbit

Despite the plethora of new regulatory policies focused on the demand side of the transaction, buyer activity has been picking up over the last couple of weeks. Homes that have been sitting on the market are suddenly going into multiple…

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housing market city of vancouver future dall-e ai

Housing Market 2023

2023 is the Year of the Rabbit symbolizing peace and prosperity, while 2022 was all about the three ‘i’s—inflation, interest rates, and inventory constraints. Never in history has there been a rate move like we saw on a percentage basis, with the prime…

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The Portal excessive exuberance

Excessive Exuberance

As covered in last week’s market update, the sales slump continues as we head into the winter months, with a decline of 45% in Greater Vancouver. Sales are also flat in the Fraser Valley where only 901 properties exchanged hands—a…

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