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Tagrent control

Posted Finance

Housing crisis.. Made in Canada

It’s really not that complicated.  If you really want to resolve the housing crisis you just need to do these FIVE things

  • 1. Bring back 35 year amortization periods and increase qualifying home prices to $1,250,000 or higher.
  • 2.Remove rent control rules.
  • 3.Halt new immigration until we can build up enough support services to handle what we have already. *(exception below)
  • 4.Cut back on the municipal, provincial gov’t Red Tape to build any type of residential housing and that includes purpose built rental apartment buildings.
  • 5.Create a hiring program to entice and incentivize people to get into skilled trades …and bring over people from outside Canada if you have to (this would be my exception to point 2 above)
  • Do this and you’ll soon have more housing units available than you could even dream of.  It could be done in 3 to 5 years.  It’s just not that complicated.
Continue reading “Housing crisis.. Made in Canada”
why rent when you could buy
Posted Mortgage News

The affordability of homeownership… Rent or Buy?

why rent when you could buy

After years of seeing countless articles and posts about interest rates, housing affordability issues, mortgage stress tests disqualifying some people from being able to buy, higher personal debt levels, does it still make sense to buy a home?

Yes! There is positive news. You can still buy a home. And you can still qualify for a mortgage.

Continue reading “The affordability of homeownership… Rent or Buy?”

Posted 1 Comment on ‘Renovictions’ should motivate you to BUY, not rent! Mortgage News

‘Renovictions’ should motivate you to BUY, not rent!

blog image, rent or buy, jan 2019

Do you need motivation to buy and own your home? Well, read this.

I read an article recently about “renovictions” courtesy of Rentals.ca. (This is geared more for Ontario and BC residents.) This is a new word that you’ll be hearing more often, I’m sure.

Here’s my warning and words of advice… Attention renters:  If you’re currently renting a condo or house with below market rents, you’ll want to read this.

And I’ll skip to the bottom line for a moment: If you’re renting, you should give serious consideration to buying and owning so that you have control over your place of residence.

Continue reading “‘Renovictions’ should motivate you to BUY, not rent!”

Posted 3 Comments on The End of Rent Control? Bring it on! Mortgage News

The End of Rent Control? Bring it on!

Rent Control Blog Image, Nov 2018

Ontario’s controversial rent control is about to come to an end – and that’s a positive change!

When I was attending a speaking session with one of my favourite economists – Benjamin Tal – a few weeks back, he had a great quote: “There’s a Swedish economist who said, ‘Rent control is the best way to destroy a city, maybe besides bombing it.’”

Isn’t that the truth?!

In the GTA, rental units are scarce. And, says Tal, rent control would only further diminish the already depleted supply of available units. 

Continue reading “The End of Rent Control? Bring it on!”

Posted 2 Comments on Buying a home is cheaper than renting. Don’t be intimidated! Money saving tips

Buying a home is cheaper than renting. Don’t be intimidated!

Buy Or Rent?

Could 2018 be the year where the pessimists finally get their way? I hate to admit it, but this could be the year where buying a home may not be a good idea.

OK, just kidding!!!

But after years of seeing countless articles and posts about rising interest rates, housing affordability issues, mortgage stress tests disqualifying some people from being able to buy, higher personal debt levels, NAFTA economic fears and Donald Trump (ok, Trump has nothing to do with this, but you can’t write an article these days without blaming him, right?!), does it still make sense to buy a home?

Yes! There is positive news. You can still buy a home. And you can still qualify for a mortgage.

Continue reading “Buying a home is cheaper than renting. Don’t be intimidated!”