Real Estate Insider: May 2023
Posted on May 18th 2023 by Lalovich
Welcome back, Real Estate Insiders! This past month we’ve dug up some of the hottest Canadian real estate topics including why a renter could soon have to answer to multiple landlords, the problem with being house rich, the real costs of building an ADU, and much more. Enjoy!
You Can’t Spell “Wealth” Without “E”!
This blogger breaks down why it’s important to focus on the EXISTING home on your property when building wealth for your financial future!
Government Cutting High School To 3 Years For Skilled Students
That’s what a click baiter would title this article. Instead, we’re calling it: “In an effort to encourage high school students to enter the skilled trades, the Government is introducing incentives to teach the younger generation the opportunities and benefits of learning a skilled trade.”
Read: Ontario Government Initiatives
70% Rule: 60% Of The Time, It Works Every Time
House flipping can be a tricky maneuver. Luckily, there are some “rules of thumb” that will simplify evaluating a potential flip—this 70% rule is one of those tools!
Read: What Is The 70 Rule In House Flipping?
Canada Amends Foreign Buyer Ban
Almost as quickly as it was introduced, amendments have been made to allow foreign buyers to invest in land and development in Canada. Is this a good sign for economic growth?
Would You Spend $40,000 More than You Make?
The answer should be a resounding “HECK NO”, but that’s exactly what the Federal Government is proposing in their latest budget. Learn how this new budget could directly affect you!
Building Costs HOW MUCH?
Thinking of building an Additional Dwelling Unit? The building cost breakdown in this video may give you sticker shock!
Immi-great-tion Policy To Help Attract Skilled Workers To Canada
These policies will allow more immigrants with skilled trade or construction experience into Canada. The next step is to provide better funding for the schooling required of Canadian skilled trades.
Read: New Immigration Deal Will Help Residential Construction Industry
Fractional Real Estate Investors Could Wreak Havoc On Affordable Housing
New companies—like the ones listed in this article—are allowing people to invest in real estate for as little as $5. With so many hands in the pot looking for returns, what will this mean for low-income renters?
Read: Your Next Landlord Could Be 100 Random People
Should There Be An Index Fund For the Housing Market?
It’s hard to diversify when your biggest asset is the roof over your head. As real estate is regional, the national average sale price really doesn’t mean much. Would it be possible to invest in an index fund for housing across the country? The short answer is no, but you can read more here!
Read: There Is No Index Fund For The Housing Market
Are you Exempt From Rent Control?
New homes, basement units, or ADUs built after 2018 may be exempt from rent control as long as you can provide a few details as outlined in this video!
Latest Housing Bill: What You Need To Know
This blogger gives the lowdown on the latest housing bill released, including their plans to “help” tenants and landlords, future land development, and more.
Read: What The Latest Housing Bill Will Mean For Ontario’s Renters And Rural Areas
Does Borrowing To Invest Make Sense With High Interest Rates?
While it was a no-brainer when interest rates were sub-3%, can it make it sense now? This financial expert shows how it could still be beneficial—as long as it is done right.
Is Intergovernmental Coordination The Heart Of The Housing Affordability Crisis?
This blogger thinks that poorly anticipated demand, lack of increased supply, and overall poor growth planning has led to the continuing deterioration of affordable housing. They also provide solutions that may just improve all of the above, but will they work?
The Problem With Being House Rich
While it’s nice to have a lot of value in your home, there are some issues with having the majority of your net worth tied up in this illiquid asset.
Read: The Problem With Being House Rich
Extend And Pretend
Canadian banks are extending amortizations to avoid defaults. Is this a good longterm solution or a bandaid on an even bigger problem?
Read: Canadian Banks Are Extending Amortizations Over 35 Years To Avoid Defaults