Packing Less Punch: Millennials’ Home Purchasing Power Drops by $40K due to New Stress Test Rules + MORE May 6th
Rental vacancies are ridiculously low and demand for rental units is high… and growing!
That’s just a sampling of the opportunistic real estate investment news Ted Tsiakopoulos, CMHC’s Regional Economist for Ontario, shared recently at the Canadian Mortgage Brokers’ Association (CMBA) of Ontario annual conference.
Here are other main takeaways:
Strong 2017 economy helped ease imbalances
Sales and new home starts expected to slow
Prices to grow moderately
Eastern & Western Ontario will outperform Southern Ontario
Mortgage delinquencies remain at record lows – much lower than credit card or car loan debt
There was so much data that I can’t cover it all here. Thanks to Ted for providing this extensive info!
Can you say, Opportunity?
Increased investor demand is presenting an opportune time to examine rental property options. Look, buying a rental property has always been considered a sound investment, provided you go into it with the right expectations and a solid game plan…
A few years back, I had the privilege of hearing one of my childhood idols – former Toronto Maple Leafs captain, Darryl Sittler – speak at a Real Estate Investment Network (REIN) meeting.
In case you haven’t heard of REIN, let me share some details about this group of real estate investors that gets together to network and share valuable information affecting real estate in Canada. The leader of the group is Don Campbell. His approach to buying investment properties has proven to be very sound and profitable. In fact, his “Top 10 Best Cities to Invest” lists are legendary!
WHAT’S REIN ALL ABOUT?
I first heard of Don Campbell years ago through an associate Mortgage Broker who needed some help servicing her clients while she was on vacation. Usually, when someone calls with the intent of buying a rental property, there’s a learning curve. Buying a rental property is very different than buying a principal residence. So, I was prepared to coach and guide this client through the usual learning curve process…