Now PlayingJanuary 5, 2019

2019 Canadian Real Estate Outlook

I spoke with CTV live on Friday afternoon about the Canadian housing market. Sales are down from the peak of 2016/17 and the main reasons are stricter mortgage rules, interest rate hikes and other government intervention like foreign buyer tax, vacancy tax, rent control etc... Don't get caught up in all the headlines this year, especially if you own real estate in Toronto (our market is healthy) and I'm saying...

I spoke with CTV live on Friday afternoon about the Canadian housing market. Sales are down from the peak of 2016/17 and the main reasons are stricter mortgage rules, interest rate hikes and other government intervention like foreign buyer tax, vacancy tax, rent control etc...

Don't get caught up in all the headlines this year, especially if you own real estate in Toronto (our market is healthy) and I'm saying this as a real estate investor myself, not as some sales pitch, I study the numbers each month in depth.

Here are the main points I spoke to CTV about

The Stress Test on mortgages is impacting purchasing power (not a bad thing, but just the reality)

If you're selling and buying in the SAME market, it's all relative. i.e. even if you sold your house at the peak of the market, then you would have to buy your new house at the peak of the market as well.

Real Estate markets have cycles: You should be buying/investing with a long-term perspective (not just on speculation) The Toronto market has averaged 6.57% growth a year from 1980-now - through the ups and downs. That's a solid return.

Interest rates will likely go up again in 2019 - so if you're thinking of entering the market, get pre-approved now and lock in a rate.
Focus on micro markets, not macro - if I'm a buyer or seller in 2019 I want to know what's happening in the pocket I'm interested in. (List vs sale price/days on market/ inventory levels)

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