All Forum Posts by: Scott Innocente

Could New Zealand's radical new housing law help Canada curb its skyrocketing real estate prices?

Most people don't realize that the more socialist government controls there are in place the more expensive goods, services, and real estate will be. New Zealand is currently plagued by a real estate market that is even more unaffordable than Canada’s. The New Zealand government is proposing the idea of squashing “overly restrictive planning rules” that hinder development in urban cores. The problem is, it's too late. Building materials, labour, and land are too expensive to produce anything affordable, with or without zoning rules.

Owning Canadian real estate is a fantastic 20-30 year investment as we basically have no hope of ever catching supply up with demand.

https://windsorstar.com/news/canada/could-new-zealands-radical-new-housing-law-help-canada-curb-its-skyrocketing-real-estate-prices/wcm/deb3d262-e64c-4d9c-b8fe-123ec3e2a183?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR3khzX4f3Oo74aQko0HQyCtQNsQwMVBBSgvti02aMU2zG3sdaZpeXG__bw#Echobox=1634855490

Sephora, Lucid Motors, Bowlero sign leases at Miami Worldcenter

Just a reminder that the USA is the big leagues when it comes to real estate and wealth generation. Most of the world's biggest and wealthiest corporations are headquartered in the US. Follow the $$.

https://www.bizjournals.com/southflorida/news/2021/10/06/miamis-worldcenter-is-addind-three-new-retailers.html?ana=TRUEANTHEMFB_FL&csrc=6398&utm_campaign=trueAnthem%3A%20Trending%20Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR22gnct5wek4HwJUBxi46Mw6VoKAknyjhLwcR2dZ5um1n4FHqI9CIv4lIA

Rent prices in Windsor have risen an astonishing 25% since last year

The current housing crisis is creating a larger pool of qualified tenants than Windsor has ever seen. As housing prices continue to rise across the country, more-and-more would be buyers have no choice but to turn to renting. Buying a house is expensive, you need a large sum of money for the down payment, appliances, furniture, property taxes, insurance, land transfer tax, maintenance. Not everybody can, or wants to, own a home. Oh, and you need to qualify for a mortgage with a lender at the stress test rate of 5.25%. This is not an easy task for the average buyer (especially the first time buyer).

When you understand WHY prices are jumping, it makes investing much easier. The long term fundamentals of Canada's real estate market continue to point to limited supply, and high, global demand. While I don't try to predict any one or two year period of time, the next 20 years looks very promising.

https://www.blogto.com/real-estate-toronto/2021/11/rent-prices-have-risen-25-small-ontario-city/

More than 1,000 tech jobs are slated for Downtown Miami.

Seventeen businesses are committed to bringing 1,858 jobs to Miami over the next three years, according to the Miami Downtown Development Authority, including 1,069 technology positions. The DDA told Miami Inno that 286 of those jobs have been created at this point.

https://www.bizjournals.com/southflorida/news/2021/10/19/1000-jobs-coming-to-downtown-miami.html?ana=TRUEANTHEMFB_FL&utm_campaign=trueAnthem%3A%20Trending%20Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR1B6qvTeo-GYCvWCfcLLPEGCFJ3FE6SLTiMuCmE9jL9znwQwrLEd8dE_u4

Will real estate prices drop in Ontario?

I never try to predict market crashes, black swan events, or interest rates. I firmly believe that you will lose more money over a long period of time trying to predict a crash than you would in an actual crash. Many have been trying to predict Ontario's housing market for years while ignoring the fundamental supply/demand imbalance.

Their propensity to call for a housing crash no matter what the fundamentals say has cost many people dearly. I am not saying a crash will or will not happen, I'm saying that I'm not trying to predict it. If and when the crash does happen, I will be a buyer of cash flowing real estate then too, only probably more-so.

https://www.canadianrealestatemagazine.ca/expert-advice/will-real-estate-prices-drop-in-ontario-334902.aspx?fbclid=IwAR34cMt2gzpTVTMvRZ9MLfqywPLtF-dtBQoTZksZrz9LkCzrQqAe2mNDf3w

Hi Michael, we can help you out with all of the above!

Toronto council votes to require developers to build affordable units in some new condo towers

Once again, socialist government policies hinder developers from building more supply by increasing their costs and limiting their returns on investment. If developers have to discount a portion of their product, they will simply have no choice but to pass those discounts on in the form of higher prices for the other units.

This will ultimately make everything less affordable. Burdensome taxation will push developers to markets that they can operate more freely, and ultimately, exasperate the supply problem even further. 

https://www.cbc.ca/news/canada/toronto/toronto-council-votes-to-require-developers-to-build-affordable-units-in-some-new-condo-towers-1.6242811?

Housing crisis? What crisis? Canada has struggled to house people for decades

A FRESH APPROACH TO RATIONING LAND FOR NEW DEVELOPMENT IS NEEDED TO AVOID ANOTHER 50 YEARS OF HOUSING FAILURE

Great arcitle outlining Canad's failure to keep up with housing demand that has spanned more than 50 years. Housing affordability has been a problem for a long time, just not necessarliy in smaller cities like windsor; that has now changed and spread across the entire country.

https://financialpost.com/personal-finance/mortgages-real-estate/housing-crisis-what-crisis-canada-has-struggled-to-house-people-for-decades?fbclid=IwAR3GzjI68kCElFgF7dNgboEr136-_YxmUaQvqPFU5GOqSKM2G4nnrU7YGsE

Government fees and taxes account for 26% of Vancouver home price

The same goes for Windsor and any other major city across the country.  The government loves to get their cut of enterprising individuals who, unhindered, would increase the country's supply of housing.

This is what makes the term "affordable housing" a misnomer and a complete oxymoron across Canada.

The government continues to preach affordable housing from their soapbox to fool the middle class into believing that they are doing something to fix the crisis, all the while, they continue to increase bureaucracy, taxes, red tape, and regulation making themselves the very cause of the problem they are "trying" to fix.

https://dailyhive.com/vancouver/vancouver-housing-government-fees-taxes-costs-may-2018

The average sales price in Windsor October increased $13,092 over September

This is why I tell people "it's easier to make $10k than it is to save $10k."Driven by increased population and limited supply, Windsor continues to see historic price rises. Despite these rapidly rising prices, Windsor remains the most affordable city in Ontario and one of the most affordable cities in the country.

I think we still have a long way to go.https://windsorstar.com/news/local-news/average-price-of-homes-creeps-up-in-october

https://windsorstar.com/news/l...