What are the causes, consequences, and potential solutions to this ever-increasing rent in the Greater Toronto Area?
Condo and apartment research firm Urbanation just announced that purpose-built rentals have hit a new record, surpassing an average rental price of $3,002 per month in Q1-2023. So what does this mean for landlords, if the tenant population cannot afford to live here any more? What can we do to mitigate this risk?
Read MoreMy new friend Derek Wu talks about the huge move from Montreal to Toronto, in search of better job opportunities but at the cost of more affordable housing and not as much entertainment options. We also discuss all the cool new technology from a resident’s perspective, and how it’s made his life easier.
Read MoreLooking to invest in Toronto real estate? There are lots of deals to be hand in today's assignment market, from people that purchased a few years back and now can't close (or don't want to) because of the high interest rate environment that we are in. Let's talk about the pros and cons of buying an assignment in Toronto, or if you're thinking about flipping a property you bought and haven't closed on yet, let's talk about that too. At the end of this video, I'll show you how to actually structure an assignment deal and the paperwork involved (for real estate agents).
Read MoreBy 2030 Toronto is estimated to have a population of 8 million people, on its way to 10 million by 2045. Toronto will be one of the most diverse megacities if Ontario government projections are correct. In this video podcast, we'll discuss the 6 factors that could shape the Toronto real estate market over the next decade.
Where do you think we are headed? Do you think the density will bring us to ruins or will we become an even more thriving metropolis?
Read MoreIf you're considering purchasing a property or coming up with creative strategies to get your listings sold, you may be considering a vendor take-back mortgage. VTB’s are a type of financing structure where the seller provides a loan to the buyer. Let's take a closer look at the advantages and disadvantages of this financing option.
Vendor take-back mortgages can be a good option for some buyers, especially those who may have difficulty qualifying for a traditional mortgage. However, it's important to weigh the pros and cons carefully before making a decision. If you're considering a vendor take-back mortgage, be sure to do your due diligence, negotiate the terms carefully, and have a clear contract that outlines the terms of the loan.
Read MoreLet's ignore all the negative headlines in the news AND the overly positive ones too, and let's just get into the facts. Let me give you my take on what I see in the first quarter of 2023 for the GTA Real Estate Market, and how it performed for the month of February, with an increase of 5.5% month-over-month in terms of the average price and over one and a half times the previous month's sales volume.
Let's also look at the shortage of new listings, resulting in bidding wars. Are they here to stay?
Read MoreIn this podcast, we sit down with Andrew Dryer of Outline Financial to discuss the current state of the economy and how it's impacting the Canadian real estate and mortgage industries. We dive into the differences between the Canadian and US economies, the recent rate increases, and the impact of bond yields on fixed rate mortgages. Our guest also explains how Outline Financial sets itself apart by working as a team to help clients with difficult deals and staying up-to-date on industry developments. Tune in to gain valuable insights into the Canadian mortgage market and the broader economic landscape.
Read MoreHome ownership rates are declining in Canada. In Ontario, they fell -3.1% to 68.4% over the past decade, yet in Toronto, the percentage of renter households were up by +25.1%. To add to it, housing supply is shrinking with a pause on new development demand and supply. Home ownership affordability is at an all-time high, household debt ratios are through the roof.
So where do you think are we going to house all these newcomers?
Read MoreJoin our seasoned professionals to go over the current economic outlook for Toronto's housing market and what roadblocks you may encounter. We are going over common concerns and strategies to ensure that you are still successful in this wild market. Plenty of time for Q&A at the end.
Location: Online Zoom Webinar
Date: Tuesday, February 28th, 2023
Time: 5:30PM to 6:30 PM EST
Cost: Free
Read MoreWhat are some opportunities in today’s real estate and mortgage market? Ryan Dennahower and I explore who is qualifying for mortgages, how to get approved, and what the process is. We talk about how people are dealing with the high carrying costs in today's high interest rate environment.
Read MoreYou may have seen in the news recently how the Toronto homeowners have had their homes sold without the home owner’s consent. Whether it’s identity theft, mortgage fraud, or organized crime, real estate fraud has been given the spotlight in the media. You may be wondering, how can this happen? More importantly, how can you protect yourself? How are these fraudsters getting away with it?
Join industry veteran Mitch Korman, principal lawyer from Korman and Company as we discuss how to protect yourself from real estate fraud.
Read MoreThe number of home sales in December is down by -48.2% year-over-year, new listings coming to the market are at an all time low of -21.3%, and the average selling price is down by -9.2% overall.
OFSI is contemplating new lending rules, and they have not touched the stress test. Inflation is running wild. Interest rates are high. Unemployment is low now, but what happens if we have a hard landing?
The Bank of Canada overnight lending rate is now 4.75%, with a +0.25% rate increase. How will this impact the housing market?
Read MoreBritish Columbia is the first Canadian province to require a three-day cooling period for buyers. This means that after a purchaser has signed an agreement buy a home, they can back out of a residential resale deal within 3 business days.
What does this mean for the industry? Do you think this is fair for sellers? Will it make an impact on housing affordability?
Read MoreToronto recently proposed legislation that will allow (licensed) rooming houses and come in to effect as soon as March 2024. They would all have to undergo annual inspections by staff from Toronto Fire Services and Municipal Licensing and Standards to ensure safety.
What are the impacts of this, and could this make a difference for housing affordability?
Read MoreMost people that think they have lost their chance to build wealth in real estate, but there is still opportunity to win in this market. You just have to get a little creative.
Does it have to be one house, one family anymore? Will sellers buy down mortgage rates? Developers putting in second dwelling units? How about seniors with lots of equity in their homes? Tenants in non-rent controlled buildings?
There are so many possibilities given our current landscape. It's no wonder why Glenn calls it a crisis and an opportunity at the same time.
Read MoreI got invited to speak on a round table on CBC The National, our national public broadcasting station. It was such an honour to be there representing the landlord’s perspective.
It’s such a polarizing issue, they had to cut it down to 11 minutes but we could have gone on for hours. We did actually, off camera.
So here we are, discussing the very same topic with the team. It’s an honest conversation from both sides of the spectrum, as we have renters, owners, landlords, and combinations of the mix at this table. We are becoming a renter nation, and a handful of landlords are having to bear the rising cost of housing. Tenants on the other hand, find that landlords are taking advantage of their situations, gouging them for the right to live. These are the extreme views of course, so let’s discuss.
Read MoreEverybody goes and says, “I built equity in my house. I bought this house". A year later, it's worth $400,000 more. Sure. So you ask them or her, “what did you do to the house?" What have you done to the house to make it worth $400,000 more?”
Who put that? Who put that money inside that house? The government, obviously the government, through quantitative easing. It's diluting money, making it worth less great inflation. Sure. And inflation. That house belongs to the government. That equity belongs to the government. If they want to take that money back, they're taking it back right now.
As we are in an environment where interest rates are rising the quickest in history, times are getting tougher economically for everyone and it's top of mind. What can we do in this scenario?
Read MoreToronto is a rapidly growing city. We are seeing approximately 100,000 new immigrants to the city every single year, yet we are limited by the lake and the greenbelt. So what's the impact of all this intensification that's happening around us?
Read MoreDoug Ford just recently announced his plan for more housing. We need 1.5 million houses in Ontario in the next decade. And traditionally that's 150,000 units per year. In 2021, we've delivered 100,000 housing completions, but that’s an all-time high. We’ve typically only built around 40,000 to 60,000 units per year. So we need to be super aggressive on building these homes. Today, we are going to be talking about how to convert single family homes to triplexes, and whether or not you should.
Read MoreLet’s talk about the current state of the market, and try to answer the big question: are we near the bottom of the market?
I’ve been in the real estate business and in the real estate market as an owner for almost two decades. I've seen a lot of ups and downs, and I want to share with you my thoughts on whether or not we're near the bottom. So let’s talk though it.
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