Shooting for $50K: Hoop-A-Thon Goes Live on April 23!
On March 9th, Gary Chomyn, who leads our Hoop-A-Thon Project Committee, provided an update of the upcoming 2022 event.
For those who don’t know, Hoop-A-Thon is our club's signature fundraising event based on pledges in support of the number of free throws each participant can sink in one minute. The funds raised go to scholarships, local youth leadership programs and the basketball program at Strathcona Community Centre (SCC).
The Hoop-A-Thon program at SCC started in 2006. Since then, over $460,000 has been raised and the program has experienced significant growth in terms of organizational partners and the annual fundraising totals. The 2021 fundraising total of $44,197 was distributed as follows: $32,000 to scholarships; $4,500 to Girls Who LEAP (Lead, Empower, Act with Purpose); and $7,697 to Strathcona Basketball.
This year, with the return to a live program in the SCC gym, the Hoop-A-Thon fundraising target is $50,000 in recognition of the 50th anniversary of the Strathcona Community Centre and the basketball program. Our 2022 Hoop-A-Thon partnership now involves nine Rotary Clubs, Rotaractors, Interactors, a Rotary Club and a basketball club in Germany and various local business sponsors, including Global BC TV and regular attendees Chris Gailus and Yvonne Schalle.
To read about this year's plan, or to make a pledge, visit the Hoop-A-Thon website: www.hoopathon.ca. See you there on April 23rd!
Vancouver Young Professionals Rotaract Club Organizes UNYA Fundraiser
Julia Halbert, President of the Vancouver Young Professionals Rotaract Club joined us on March 2nd to share her club's plans for an upcoming event to support the Urban Native Youth Association (UNYA) https://unya.bc.ca/about/. UNYA's programs include residential foster care, relief counselling for youth, safe houses, young spirits summer camps and other activities and services for Indigenous youth in Vancouver.
An evening featuring live entertainment along with live and silent auctions will take place on June 2nd, 2022, from 6 - 10 pm at the Bill Reid Gallery of Northwest Coast Art. The event will also showcase established indigenous businesses in Vancouver and BC.
A Very Special Welcome to our "New Arrivals" in March!
Welcome to new Club member, Dr. Briar Sexton!
Congratulations to proud parents Natalia and Miguel on the arrival of their beautiful daughter (and future Rotarian?) Adella!
Welcome to new Club member, Dr. Sonny Baidwan!
Vancouver Real Estate: What's Selling and What's Not
On March 16th, Shawn Anderson presented an overview of the real estate market in Metro Vancouver. Shawn Anderson graduated from UBC’s Sauder School of Business with a Bachelor of Commerce in real estate and worked as a Real Estate Appraiser from 2008-10, valuing homes and land for lenders and banks. He became a Licensed Realtor in 2010 and is currently a Top 1% Advisor in North America and a 2021 Brand Ambassador for Engel & Völkers Vancouver.
Shawn advised that two key factors affecting the local real estate market have been population growth and densification. Between 1986 and 2016, the population of Vancouver and Metro Vancouver increased by 46% and 95% respectively. Over that same period, the population density in Vancouver and Metro Vancouver increased by 46% and 50% respectively.
So where is the market now? The February 2022 MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver was $1,313,400 - which represents a 21 per cent increase over February 2021. For all property types combined, the sales-to-active listings ratio for February 2022 was 51 per cent (35% for detached homes and approximately 63% for town homes and condos). Generally, analysts say upward pressure on home prices occurs when the ratio surpasses 20 per cent over several months.
Thanks to Shawn for de-mystifying the range of factors affecting the situation for buyers and sellers. As for what's hot and what's not, we learned that due to continuing demand, along with rising taxes and interest rates, there are likely no deals for real estate in Vancouver in the foreseeable future.
Rotaractors, Interactors and Rotarians Back in Action!
With pandemic restrictions easing in March, our King George Interactors (pictured above) were busy in March working on their seven (yes 7!) projects to support Reconciliation.
UBC Rotaractors (pictured below with two members of our Sunrise Club) took time out from their end-of-term studies to get trained on how to recognize and respond to overdose situations with Naloxone treatment - training provided by Dan Turvill, Executive Director of the Strathcona Community Policing Centre.
An Uncertain Future...but Less Uncertainty for BC?
On March 23rd, Bryan Yu, presented his 2022 economic outlook for BC. Bryan is Chief Economist at the Central 1 Credit Union, and, in that role he leads a team of economists conducting macro and regional economic analyses for Central 1 and the broader credit union system.
Prior to joining Central 1 in 2010, Bryan worked as a housing economist for the BC Real Estate Association and CMHC, and conducted academic research in immigration economics. He holds a BA from the University of Manitoba and an MA in Economics from SFU.
Bryan’s presentation provided global and provincial economic conditions with the following observations and key “predictions”:
Inflation in Canada and the US expected to increase sharply
Bank of Canada’s overnight rate expected to surge with up to 6 rate hikes in 2022
Sharp and significant upswing in commodity prices expected
Global growth forecast will be lowered and accompanied by an increased risk of a downturn
Canadian economy will prove resilient again as Omicron losses fully reverse in February
Increased Omicron health measures to slow activity in Q1 before a bounceback
Unemployment rate sinks to 5.5%, falling below pre-pandemic levels
Business investment has more room to recover and the consumer goods demand is expected to normalize
Immigration to Canada set to surge on high federal targets in the order of 400,000 per year
BC outpaces Canadian growth in 2021 but that trend to slip below 2% by 2024
BC growth outperforms peers as employment fully recovers and joblessness sinks
Vancouver’s performance will be very similar to that of BC
Vancouver’s pandemic-sensitive sectors are set to rebound sharply
Housing market in BC heats up as interest rates expected to rise
Mortgage rates still low but housing affordability to continue getting hammered.
Thank you to Bryan for providing a compelling picture of the emerging economic landscape in 2022.
We closed out the month of March with Tim Ellison, Interim General Manager of The Vancouver Club (TVC) providing us with a virtual walkthrough of its history and contemporary story at our March 30th meeting from the early days as a men's-only social club to a modern-day hub for local and international business people.
Born and raised in Vancouver, British Columbia, Tim’s hospitality industry career has spanned nearly 50 years and is grounded in his education and certifications in Hospitality Management, Red Seal in Cooking, Chef de Cuisine, and Sommelier with the International Sommelier Guild.
Established in 1889, TVC currently serves over 2400 members plus visitors with its range of activities and events. Special thanks to Tim and TVC staff for hosting our Rotary Club breakfast meetings during the pandemic period!
Rotaractors, Interactors and Rotarians Back in Action!
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