The national vacancy rate is 2.6% compared with 2.8% from October 2009. CMHC attributes this to the economic recovery.. according to CBCnews.ca.
We are also hearing reports of Real Estate Investment Trusts (REITs) buying up properties as they expect the rental market to remain strong.
And here’s one more article about the Florida housing market… 90,000 homes and condos were bought by International Investors… read more here.
Add in historical low mortgage rates and this looks like a good time to buy an investment property…. Consider that a $250,000 mortgage will carry for around $1072/mth based on a 5 year fixed rate of 3.79% (lower rates are available but we’re using a higher rate for illustration purposes). Something to consider….
As an industry insider, Steve will share info that the BANKS don't want you to know. Steve has appeared on TV's Global Morning News, CBC's "Our Toronto" and The Real Life TV show. He's also been quoted in several newspapers such as the Globe and Mail, The Toronto Star, The Vancouver Sun, The Star Phoenix, etc.