All Forum Posts by: Scott Innocente

Rising wages across the US will lead to higher rents and higher real estate prices

Looks like the 1000 job chem plant is still in play after being put on pause due to power shortage. There also appears to be a pipeline of supply chain participants looking at Windsor for the EV push:

https://www.iheartradio.ca/am800/news/invest-windsoressex-head-says-lg-chem-plant-still-possible-1.17872941

Dwindling returns have Canadian real estate investors flocking South of the border.

Canadian Purchases of U.S. Real Estate – Quick Facts

• Canadians made up 8% of total foreign buyers in the U.S.—the top country of origin among foreign buyers
• Canadian purchases totalled over $5 billion (CAD) in 2021
• Top destinations for those Canadian purchases were: Florida (38%), Arizona (24%) and California (7%)
• The average purchase price paid by Canadian buyers was $601,100 (CAD)
• https://www.canadianmortgagetr...

You can't get anything done in this country with all the red tape, that is the reason that, across the country, Canada will remain in a perpetual supply/demand imbalance.

Staff Shortages in Planning Department

Harder to slow the cheapest market in Ontario.  Despite the recent hikes in bank interest rates, the demand for new homes in the Windsor area remains robust, and the rate of local home prices continues to outpace most other Canadian markets.  Price appreciation is slowing, however, which could represent good opportunities for buyers or investors.  The long-term fundamentals have not changed for Ontario real estate which continues to have one of the lowest homes per capita of any G7 country.

Windsor's Market Remains Strong Despite Rising Rates

Fla. rents are up because demand is up, and new residents boost demand. In 2020, 167 people moved in for every 100 who left. In 2021, the inbound number was 210.  People from all over the world continue to flock to this coastal state with low taxes and great weather.  Given supply shortages for labour and building material, supply simply can't keep up with ever-increasing demand.  This is pushing rents higher as well.  Florida has always been known as a snowbird state, but now it's become one of the top places to live in the world for people of all ages. 

https://www.floridarealtors.or...

Most international students come to Canada on study permits because it's the path to permanent residency. Most students end up staying forever and absorb a significant amount of housing resale and rental properties.

#windsorrealestateinvesting #windsorontario #windsor #realestateinvesting #students #immigration #realestate

https://kitchener.citynews.ca/national-news/federal-government-will-let-international-graduates-stay-in-canada-another-18-months-5291183?fbclid=IwAR0Qwe7YyKTCBAMdcXK7c4Vv5jaUUod1a124usgFozVE7JPaNqbkXCui8Ws

More huge news!!

https://windsorstar.com/news/local-news/stellantis-announces-3-4-billion-investment-in-ontario-plants

Canadian Bank Regulator Confirms Investor Mortgage Reduction Coming Next Year

The Office of the Superintendent of Financial Institutions (OSFI), Canada’s bank regulator, confirmed new rules being rolled out in Q2 2023. These new rules will force lenders to apply a higher risk profile to investment properties which means they'll be forced to charge higher interest rates, or ask for more money down.

https://betterdwelling.com/canadian-bank-regulator-confirms-investor-mortgage-reduction-coming-next-year/

More big news for Windsor

https://windsorstar.com/news/local-news/windsor-companies-seeing-25-million-investments-in-electric-vehicle-research-projects?utm_medium=Social&utm_source=Facebook&fbclid=IwAR3eU05T7GjcfBUnJcCwQ_VRGuMcVFl10yA8SY08AuxZ43GrTMHaxHu0N_s#Echobox=1651239223