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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
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Investing in Windsor Ontario

Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Posted Sep 29 2018, 02:44

There is a lot of economic development going on in Windsor right now, so I've started this thread to keep people up to date on all the latest news.  As we all know, economic development is directly correlated with real estate prices; keeping track of the latest news should help all us be better real estate investors.  Check back regularly for updates!


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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Jun 28 2022, 05:38
This Toronto company vowed to buy $1 billion in single-family homes to rent out.

Institutions have finally caught on to the fact that real estate, simply put, is the best investment class in the world. Expect the trend of big players snapping up supply to continue, proving a floor to real estate prices and keeping the rental market tight.

With a goal of buying 4,000 rental units in Ontario, the Atlantic provinces, B.C. and Quebec, property records show Core has so far acquired at least 81 homes in Ontario, through various subsidiaries. Most are houses, with some multiplex buildings, spread across Peterborough, Chatham, Kingston, St. Catharines, Cambridge, Barrie, London and Hamilton.

https://www.thestar.com/business/real_estate/2022/06/27/this-toronto-company-vowed-to-buy-1-billion-in-single-family-homes-to-rent-out-heres-what-its-been-up-to-since.html?fbclid=IwAR2BnqngkOl0berS3nwqf0YlyPPuXNSycpIa27ta8cWuT7yBmjh-SRlrPyw

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827
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214
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Jun 29 2022, 07:50
Windsor Remains the Most Affordable Rental Market in Ontario

Windsor is the most affordable housing market in Ontario for home sales and rents, which provides a certain level of safety in a shifting market. Investing in the lower priced cities carries significantly less risk than their more expensive counterparts.

The Canadian housing market continues to witness a dramatic climb in rental prices according to a report from rental listing platform Zumper published last Wednesday.
With cities like Toronto, Vancouver and Victoria averaging over $1,800 a month for a one-bedroom apartment in June, the majority of Canadian cities included in the report (60 per cent) experienced double-digit year-over-year rent price increases. The monthly rent for a one-bedroom in Toronto, for instance, has now reached an average of $2,000, with a two-bedroom rental settling at $2,630.

https://www.ctvnews.ca/canada/these-are-the-most-expensive-canadian-cities-to-rent-a-home-1.5956534?cid=sm%3Atrueanthem%3Actvedmonton%3Amanualpost&utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR24Mv6hTWIzYNr-VVrHCrHgXHuOZGL-IOwEQCn4vuvaqcBMWsq4xMO04hc

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Khurram Mirza
  • Investor
  • Ottawa Ontario, Canada
3
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27
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Khurram Mirza
  • Investor
  • Ottawa Ontario, Canada
Replied Jul 13 2022, 04:07

Hi Scott, thank you for this thread. Can you refer to some reputable property management companies in Windsor. 

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Jul 22 2022, 07:41
Windsor home prices third cheapest in province despite increase in 2022

There is a certain level of safety living/buying/investing in one of the cheapest cities in Onatario, and one of the most affordable cities in the country. I'd be a lot more nervous buying in top-priced cities like Toronto/Vancouver/Kitchener-Waterloo/Etc.

Although its average home price now sits at roughly $542,000, Windsor is the third most affordable city in Ontario behind Thunder Bay (about $315,000) and Sudbury (nearly $403,000). Windsorites, on average, are paying 54 per cent of their monthly income on mortgages — lower than residents in London (62 per cent), Kitchener-Waterloo (63 per cent), and Hamilton and Barrie (76 per cent). The average homeowner in the Greater Toronto Area is paying all of their monthly income on the mortgage, the report said.

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Sep 30 2022, 07:55
WINDSOR: Local investors purchase CS Wind property

Plans for more automotive? Windsor is perfectly positioned to capitalize on the shift to electric and these big-time players may know just that.

A group of local investors headed by Windsor auto dealer Terry Rafih have purchased the 27-acre CS Wind facility in a $27-million deal that is the largest industrial-site transaction in the region since 2013.

https://windsorstar.com/news/l...

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Patrick Michael S.
  • Investor
  • Toronto
8
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13
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Patrick Michael S.
  • Investor
  • Toronto
Replied Oct 5 2022, 07:32

@Scott Innocente thank you for keeping this thread active and updated. 

do you have a map or report of the best neighbourhoods to invest in Windsor?

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Oct 5 2022, 11:54
Quote from @Patrick Michael S.:

@Scott Innocente thank you for keeping this thread active and updated. 

do you have a map or report of the best neighbourhoods to invest in Windsor?


 Thanks for the feedback. 

Check out this link for neighborhood breakdown:  

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Oct 14 2022, 12:20
Housing starts will fall below 2030 supply targets in Ont., Que. and B.C.: CMHC

There are not enough labour, materials, or cheap land available to meet housing targets set by provinces, which is no surprise for a target that never stood a chance of being hit to begin with.

Canada Mortgage and Housing Corp. says even under best-case scenarios, housing starts will fall well below the affordable housing supply targets it has set for Ontario, B.C. and Quebec to reach by 2030.
In those three provinces and Alberta there will only be enough labour capacity over the next eight years to increase the number of housing starts by between 30 and 50 per cent under best-case scenarios, the federal housing agency said in a new report released Thursday.

Though housing prices are coming down, they are not becoming more affordable. Until housing supply exceeds housing demand, we will see more renters in this country than ever before.

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Oct 19 2022, 11:37
Canadian Inflation Slowed in September

Inflation continues to slow which is good news for interest rates. That being said, the Bank of Canada is still likely to raise 1-2 more times prior to year end.

She expects the Bank of Canada will increase its policy rate another 50 basis points on Oct. 26 and raise the policy rate to 4.0 per cent by the end of the year.
However, other banks are predicting an even higher rate hike next week given Wednesday’s inflation reading.
CIBC now expects an interest rate hike of 75 basis points next week and a possible quarter-percentage-point hike to end the year in December.

Interest rates, like all markets, operate in cycles. Right now, we are in a rising rate cycle as the feds try to battle inflation. Once inflation comes into check, we can expect the cycle to shift back to falling rates. It's important to note that no one has ever been able to consistently and accurately predict interest rates, so don't think that you can either!

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Oct 20 2022, 09:36

Anticipation builds as APMA conference offers peak at first all-Canadian electric vehicleOnlookers at the Automotive Parts and Manufacturers Association (APMA) conference caught a glimpse of the first all-Canadian electric vehicle, on Wednesday, in Windsor, Ont.

"I think this is exciting," he said. "We've got a project here that's all-Canadian. It's going to be a real showcase of how you can build end-to-end. The entire ecosystem is right here. I'm going to say it. It's right here in Ontario."

https://www.cbc.ca/amp/1.66219...

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Oct 21 2022, 07:21
NextStar Energy battery plant to begin hiring in November

With construction of NextStar Energy’s battery plant in Windsor well underway, the company is turning its attention to hiring its first employees in November. Rising interest rates are really the only thing stopping Windsor's real estate market.

NextStar plans to begin producing modules in the first quarter of 2024 and battery cells in the first quarter of 2025 at the 45-gigawatt hour plant.
The joint venture between LG Solutions and automaker Stellantis has initially listed the 4.5-million square foot plant as having 2,500 jobs.

Long term, Windsor has the catalysts to offer above-average appreciation to local home owners and investors including the Gordie Howe Bridge, LG Battery Plant, Amazon Distribution Center, while also being the most affordable city in Ontario with the lowest rents.

https://windsorstar.com/news/local-news/nextstar-energy-battery-plant-to-begin-hiring-in-november

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Oct 24 2022, 11:24
Interest rates are rising and the house-buying market is cooling off, putting more strain on rentals

Rates go up, investors don't buy as many rental properties. Rates go up, less people can qualify for a mortgage meaning more renters.More renters + less supply of rentals = higher rents

Rents are indeed rising quickly in the area, according to a recent report by Rentals.ca and Bullpen Research and Consulting. Average apartment rents for the nearest major city — London, Ont. — climbed to $1,933 in June, up 28.5 per cent from the same time last year.

Some analysts predict that the rental market may get even hotter throughout Canada.Ben Myers, president of Bullpen Research & Consulting, a real estate advisory firm, says higher interest rates are pushing potential homebuyers to the sidelines, putting more strain on the rental market."These two factors will keep renters in their properties, further reducing rental supply," Myers said.

https://www.cbc.ca/news/business/rising-rent-housing-market-canada-1.6525075

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User Stats

827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Oct 31 2022, 07:59

Rents are up 15% nationwide.  Real estate prices may be dropping because of higher interest rates, but the housing crisis in this country has not been fixed.  This makes long-term cash flowing real estate a fantastic investment option.

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Nov 2 2022, 08:02
London hit by biggest average rent increase in Canada – 33% in one year

Rents in London grew at the fastest pace in the country over the past year, according to the latest snapshot of the rental market across Canada. The same thing is happening in Windsor and other major Canadian cities. Higher borrowing costs are causing thousands of future units to be canceled when we are already short millions of homes over the next decade.This coupled with mass immigration (target of 500,000 newcomers per year by the Canadian government) and there simply is no better asset class to invest in than cash flowing real estate.

https://lfpress.com/news/local-news/london-hit-by-biggest-average-rent-increase-in-canada-33-in-one-year

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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Nov 7 2022, 07:28
Trudeau's housing crisis fix is missing one key element: more workers to build homes

A lack of skilled workers threatens to derail the country's effort to tackle its housing affordability woes. We don't have enough workers, enough bureaucrats to process permits, or enough materials to build the millions of homes needed to house 500,000 newcomers to Canada per year. Expect rents and prices to rise long term.

https://financialpost.com/news...

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 9 2023, 11:29

User Stats

827
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214
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 11 2023, 05:07
Record year for construction expected locally and in Ontario

The construction industry in Ontario, Canada is expecting a record year in 2023 with billions of dollars in investment and job creation in the sector. Infrastructure projects such as roads, bridges, and transit systems are expected to drive the growth, while the demand for housing and commercial real estate is also increasing. Local industry leaders are optimistic about the outlook for the sector, citing strong government support, favorable economic conditions, and a skilled workforce. However, challenges such as supply chain disruptions and labor shortages may also affect the industry's growth in the coming year.

https://windsorstar.com/news/l...

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 17 2023, 08:11

'Huge': St. Thomas lands VW electric battery plant, more than 2,000 jobs


Windsor finds itself at the center of the EV revolution that is reverberating throughout the province. This next wave of investment is sure to have a significant impact on our local realestate market. Perfectly positioned with a 100 year automotive history, a large blue collar workforce, and proximity to the USA with 3 international border crossings, Windsor will benefit from Billions in investments over the coming decades.

https://thenarwhal.ca/volkswag...

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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 18 2023, 11:15
Convoy Technologies To Open New Factory In Windsor-Essex

Windsor continues to benefit from the battery plant. Convoy Technologies, Inc. announced its intent on Thursday to establish a new manufacturing facility in Windsor-Essex employing up to 50 people by this fall.

Convoy Technologies, Inc. is a leading provider of innovative industrial-grade safety products, including cameras, monitors, sensors, recording systems, and accessories, serving the Heavy Duty On- and Off-Road Industries.

https://windsorite.ca/2023/03/...

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 21 2023, 11:52
Inflation in Canada continues to slow, reaffirming BOC's rate pause

Canada's annual inflation rate continued to slow last month, reaffirming the central bank's decision to hold its key interest rate steady. It took 18 months of near zero interest rates to get out of control inflation, it will likely take 18 months to get inflation back under control. If rates stay put, expect a very strong summer real estate market.

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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 22 2023, 12:23

The Gordie Howe Bridge is well-underway in the heart of Windsor.  This game changing mega project will boost trade, jobs, and tourism in the local area!

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 28 2023, 10:05
Windsor forecast to lead nation in economic growth rate

According to a recent report by the Conference Board of Canada, Windsor is forecasted to lead the nation in economic growth rate in 2021, with a projected increase of 10%. The report credits Windsor's strong manufacturing industry, increased infrastructure investment, and continued growth in the tech and innovation sectors as the driving factors behind this growth. Additionally, the report predicts that Windsor's economic growth will continue to outpace the national average through 2025, further solidifying its position as a key economic hub in Canada.

This projected economic growth in Windsor may have a positive impact on the local real estate market. With an increase in employment opportunities and population growth, demand for housing is likely to rise. This could lead to an increase in home prices and a decrease in inventory, creating a more competitive market for buyers. Additionally, increased investment in infrastructure and development could lead to new construction projects, providing additional housing options for those looking to purchase a home in Windsor. Overall, the projected economic growth rate in Windsor is good news for the local real estate market, with potential benefits for both buyers and sellers.

https://windsorstar.com/news/l...

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 29 2023, 11:43
Canada needs 300,000 new rental units to avoid gap quadrupling by 2026: report

Canada's rental housing shortage will quadruple to 120,000 units by 2026 without a significant boost in stock, Royal Bank of Canada said in a report Wednesday. Might be a good idea to start investing in rental properties.

  1. Canada needs to build around 300,000 new rental units by 2026 to prevent a quadrupling of the rental housing gap.
  2. The government needs to take immediate action to address the housing crisis and invest in building new rental properties.
  3. The report suggests that addressing the housing crisis can have positive economic effects by creating jobs, boosting economic growth, and reducing poverty.

User Stats

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
Votes |
827
Posts
Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Mar 30 2023, 05:26

Windsor remains on of the most affordable cities in the country on an income-to-home-price ratio. Couple Windsor's affordability with 3 massive infrastructure projects (Gordie Howe Bridge, LG/Stellantis Battery Plant/Mega Hospital) and you have the recipe for massive appreciation.

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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
214
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827
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Scott Innocente
  • Real Estate Agent
  • Windsor, Ontario
Replied Apr 3 2023, 06:29
Canada's Housing Crisis is Worsening

In a June 2022 report, CMHC estimated that Canada needs to build 5.8 million housing units to restore housing affordability by the end of 2030. This is 3.5 million units over and above the current pace of new home construction. #housingcrisis

https://www.cmhc-schl.gc.ca/en...