All Forum Posts by: Scott Innocente

More huge news!!

https://windsorstar.com/news/local-news/stellantis-announces-3-4-billion-investment-in-ontario-plants

Canadian Bank Regulator Confirms Investor Mortgage Reduction Coming Next Year

The Office of the Superintendent of Financial Institutions (OSFI), Canada’s bank regulator, confirmed new rules being rolled out in Q2 2023. These new rules will force lenders to apply a higher risk profile to investment properties which means they'll be forced to charge higher interest rates, or ask for more money down.

https://betterdwelling.com/canadian-bank-regulator-confirms-investor-mortgage-reduction-coming-next-year/

More big news for Windsor

https://windsorstar.com/news/local-news/windsor-companies-seeing-25-million-investments-in-electric-vehicle-research-projects?utm_medium=Social&utm_source=Facebook&fbclid=IwAR3eU05T7GjcfBUnJcCwQ_VRGuMcVFl10yA8SY08AuxZ43GrTMHaxHu0N_s#Echobox=1651239223

The central bank signaled more rate hikes are coming through the year to tamp down on inflation, which it now expects to be higher than initially projected through the first half of 2022. What impact do you think this will have on the market?

https://globalnews.ca/news/8757132/bank-canada-interest-rate-april-2022/

The budget estimates that Canada needs to build 3.5 million homes between now and 2031 (good luck) while also introducing the ax-Free First Home Savings Account (TFFHSA) which will be similar to the RRSP (tax-free in and tax-free out). Most of the other details of the budget include accelerating development, increased densification, and banning foreign home purchases by non-residents (this excludes students which makes it almost pointless). Overall, this budget does little to address affordability in the short-term.

https://globalnews.ca/news/8743554/canada-budget-2022-housing-affordability-supply-foreign-buyers/?utm_source=GlobalCalgary&utm_medium=Facebook&fbclid=IwAR0L8fQquFWJucPvcFeloYhqwIhHqOgy1PfYRe8n6tqvPAXXJyhWXblkaxM

Young estimates those provincial measures will likely equate to between $8 billion and $10 billion in support this year. More money printing and social support = more inflation = higher real estate rents and prices.

https://www.bnnbloomberg.ca/federal-budget-could-have-measures-to-help-with-cost-of-living-scotia-1.1747623?utm_campaign=trueAnthem%20Manual&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR2JuZTLq1CnPXoG0QUxv4zL2pZjlokJlNlJm7Pawag6T2Pi5FBkvJtwCP0

The shift to EVs is well under way in Canada and Ontario is epicenter. Windsor is perfectly positioned to capitalize on billions of dollars worth of investment over the coming decades.

https://windsorstar.com/news/n...

#windsor #windsorontario #realestate #realestateinvesting

There’s not enough supply (homes) to meet demand, with little relief in sight. The U.S. needs about 3M more homes, and it will take years for builders to catch up.

By one estimate, the U.S. is more than 3 million homes short of the demand from would-be homebuyers. Pandemic-related supply chain problems aren’t helping. They’re adding tens of thousands of dollars in cost to the typical house. But the roots of the problem go back much further – to the housing bubble collapse in 2008.

https://www.floridarealtors.org/news-media/news-articles/2022/03/proof-prices-wont-fall-new-home-market?fbclid=IwAR324K5dPbZU9ErQ_mt7u7F_KFYfH4GBpmHQoGlGq3dWwrciZcOe7MUb1iI

The government continues to tinker in the free market and their policies usually have a way of backfiring. Now they intend on developing policies to attack investors likely not understanding the potential fallout from doing so:

https://storeys.com/cmhc-target-down-payment-requirements-real-estate-investors/?fbclid=IwAR3XOYGFQDJrcpUNiSZFJpIvk4HH64hRBXeBVZ6XTKd9U74SkvR1w-7V7bQ

Rent increases for one- and two-bedroom units across Canada averaged about five per cent. No surprise, more people getting priced out of buying and turning to renters, more renters = more demand, more demand = higher prices. This is likely a 20+ year trend in Canada.

https://nationalpost.com/news/canada/rental-rates-across-canada-show-rapid-gains-in-february?utm_source=Facebook&utm_medium=postmedia_organic&utm_campaign=broadsheet_promo&fbclid=IwAR11jl3wrn_4szVVaWocY38AYgOC1t5LEvaR886GIlNx0IoG6CU_gNa_l3Q#Echobox=1648219000-2