Real Estate Insider: May 2022
Posted on May 26th 2022 by Lalovich
Real Estate Insiders: if you’re looking to buy land, a home—or your dream cottage—be prepared with our latest set of handpicked articles. We’ve got the inside scoop on the rates and pesky taxes that come along with today’s market, plus the supply and demand issue affecting—well—everything!
Who Are They Building For?
To combat the supply shortage, the Federal Government plans to double the number of housing units built within the next decade. While this sounds like a worthy goal, they are leaving out two important details of building these units: how and where! It’s important to understand this alarming trend in new builds, as it could affect families for decades.
Read: The Federal Government’s Big Hairy Audacious Goal (BHAG) to Double the Number of New Homes Built
The Top 8 Items In Canada’s 2022 Budget Not To Miss!
Read about some of the top strategies the Canadian Government has implemented in the 2022 budget, including controlling the housing market, helping small businesses, and planning for a “Crypto-centric” future.
Tax Implications On Pre-Construction Assignments
Are the profits as good as they seem? Watch this video to find out!
Duplex Conversion Done Right
Watch this video if you’re thinking of tackling a duplex conversion in the near future. This in-depth walkthrough explains the ins and outs of converting a single family home into a duplex—the right way.
“Buy land, they aren’t making any more of it!” – Mark Twain
Even if you’ve heard this famous quote, you might still be wondering how to finance vacant land. Here are all your options!
Read: What Are Your Options For A Vacant Land Mortgage In Canada?
How To Evict A Tenant In Ontario
This short video highlights the necessary steps to take.
Who Profits From Unaffordable Housing?
It’s easy to blame greedy Landlords and Investors, but following the money clarifies who’s responsible for the housing crisis (Hint: it’s the same people advocating for affordable housing).
Read: Who Profits Most?
Is The Housing Bubble About To Burst Or Just Stop Inflating?
According to this blogger, there are four good reasons why we won’t see a large price drop anytime soon.
Read: 4 Reasons the Housing Market Won’t Crash
Will Liberals Tax Canadians’ Primary Residences?
If they have any plans on reelection, they shouldn’t! Learn why it would be a bad idea, and how it could negatively affect the real estate market.
Read: Will Liberals put a tax on primary residence sales?
Too Good To Be True? Probably!
Here’s the story about the tragic collapse of a large real estate investment company that “guaranteed 15% returns on investment”, leaving investors with nothing but unanswered questions.
Read: Real Estate Company Collapses, 500 Homes Affected, $10M From Investors Across Canada Missing
The Time To Buy Is Nigh
Can we all agree that it’s probably the worst time to be a first time homebuyer? Here’s an argument as to why you shouldn’t wait to buy.
Read: The Case For Buying a House Right Now
Supply And Demand Issue Standing Strong Despite Rising Interest Rates
This blogger breaks down the stats of population increases and new homes built prior to and after 2016. In addition to explaining the recent price boom, it also explains why it would be foolish to predict a large crash coming anytime soon.
Read: Supply, Demand, and Southern Ontario’s Housing Market
Bank of Canada’s Prime Rate Versus Overnight Rate Explained
These two rates can directly affect you when it comes to mortgages rates, inflation, and more—make sure you understand them!
Read: Overnight Rate Vs. Prime Rate
Cottage Life: Is It For You?
Besides what size boat you want, here are some considerations to make when buying a cottage.
Read: 4 Tax Considerations To Make When Buying a Cottage as Your Second Home