TagRental vacancy

The State of Homebuying in Canada 2019 CMHC Mortgage Consumer Survey

Posted November 28, 20192 Comments Mortgage News

Significant decrease in first time home buyers in 2019

Canada Mortgage and Housing Corporation released The State of Homebuying in Canada report on November 15, 2019, with a few key findings, including this headline.

The annual State of Homebuying in Canada report noted that 56% of all purchasers were first time buyers in 2018. This dropped to 47% in 2019.

The tightening of mortgage rules which has been taking place over the last 4 years is certainly having an effect. The never ending rule changes were intended to slow home sales and prices. But like most government interventions, its had the opposite effect.

Posted November 28, 20183 Comments Mortgage News

The End of Rent Control? Bring it on!

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 April 3, 2018 Mortgage News

Ontario Housing Market: Increased Opportunity for Investors!

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

Continue reading “Ontario Housing Market: Increased Opportunity for Investors!”