This week, the federal government in its pre-election budget did something they always do; produce smoke and mirrors and buy your votes with your own money. The question is, why do Canadians fall for this strategy every single time? The Wynne government did it with rent control and now the federal liberals are at it again.
I was at the Toronto City Council with the Planning and Housing Committee and this is what I had to say.
I made a map that easily visualizes what the average price of 1-bedroom and 2 bedroom condos were according to their sale prices in 2018. I’ve kept it to a 0.5km radius around each TTC station so that the condos are walking distance. Now you can hunt in the market armed with better knowledge!
How much does a condo in Toronto cost based on the sales within the past year? We have done all the heavy lifting for you so you don’t have to. Here’s an easy graphic of prices within a 0.3km radius of each TTC subway station!
I know you think that prices can’t get much higher and you don’t want to think about what life might be like for you 20 years from now but trust me, real estate prices will become more expensive. I know you think that some areas of the city aren’t great but trust me, 20 years from now everyone will want to be in this neighbourhood. Continue Reading
How can you win in the real estate game if you want to become a real estate investor?
1. Start young
This means you, millennials! There is nothing better than having time on your side to watch your real estate assets grow. Over 5, 10, 15, 20 years, your real estate will appreciate. Continue Reading
Let’s talk about your goals this year.
I was quite surprised by the recent announcement that the Bank of Canada plans on purchasing mortgage-backed securities for its balance sheet. Their plan is to purchase a bundle of CMHC-backed mortgages as investments. The Bank of Canada maintains that it will continue to be impartial when setting interest rates despite this transaction.
Have you noticed mortgage rates are slowly climbing their way up? If you’re looking to purchase house, condo or investment property in the next year, take note. These rate increases will directly affect your purchasing power. Continue Reading