Mission

Mission is what you might call the last stop for affordability on the edge of the Lower Mainland. It’s that reputation that’s fueled its steady 7.7% growth since 2016, pushing the population to over 41,500. It’s a place that attracts young families and workers looking for a bit more space. Unlike some of its neighbours, Mission has a real sense of place, with deep Stó:lō heritage and landmarks like the Xa:ytem Longhouse that give it an identity beyond being just another suburb. The climate is a draw too—it’s a Zone 8b, meaning a milder, longer growing season, which is a definite plus for many homeowners. But a pleasant climate and a sense of history don’t automatically create a resilient real estate market.

Take a look at the housing and you’ll see exactly who lives here. Single-detached houses make up nearly 65% of all homes, which lines up perfectly with a median age of 40 and a large working-age population. On the surface, it looks like a standard, stable market for brokers. The economy reinforces that impression. The top three industries are construction, retail, and healthcare—essential services, for sure, but not exactly high-growth sectors that pull in talent and money from elsewhere. The median household income of $98,000 is solid, but there are some soft spots. A high percentage of local income comes from government transfers, which can signal economic vulnerability. More importantly, Mission lacks a powerful economic engine or a unique recreational draw, like a major ski resort or a wine region, that creates deep market liquidity and pulls in outside capital regardless of the economic cycle.

Here’s how we see it at Tekamar. We stress-test every potential market against a worst-case scenario: what does a foreclosure look like on the ground? We have to factor in every cost and every delay. For a place like Mission, we see a high probability of a slow recovery. It’s a nice community, but it lacks the powerful retiree or lifestyle draw of an Okanagan or Island destination that keeps demand alive even when the broader market turns sour. Our analysis shows it could take upwards of six months to sell a foreclosed property here, and even then, it would likely require a moderate discount. That timeline introduces a level of risk and uncertainty that we just can’t pass on to our investors.

Our lending model is built on one thing: protecting the principal of our investors, who are often our friends and family. A slow, uncertain liquidation process doesn’t align with that promise. When you combine the risk of slow marketability with Mission’s location in the broader Fraser Valley—a region we generally don’t serve—the decision becomes clear. This isn’t a judgment on the community itself; it’s a straightforward assessment based on our specific, conservative lending criteria. For brokers looking to place a deal in this area, our position is firm. The maximum loan-to-value in Mission is 0.0%.