As our population continues to increase, and the government's lack of response to keeping housing starts at a level to satisfy demand, prices have risen and will continue to rise dramatically.
While all levels of government talk about increasing housing starts, it seems to be more of an opportunity to garner votes rather than solving the problem. As I have been saying for years, the land is there, and builders are willing and able.
The governing bodies are just not willing to change or streamline a red tape system that takes years to get a building permit rather than months.
How about building more rental unit buildings to supplydemand? Good idea! But with an unreasonable rent control system and a poorlyand unfairly implemented Landlord and Tenant Act, few builders are prepared tobuild rental units. While the idea of rent controls is a good one, unless it’sproperly implemented, being fair to all parties, it eventually fails allparties.
While the situation is challenging, it represents an opportunity. House prices and rents will continue to increase! If you are considering upgrading your current home, or looking to purchase an investment property, great real estate opportunities exist today! If you have a child who will be entering university in a few years, perhaps a pre-construction condominium might be the right fit. Give me a call, let's talk, after all, you have a friend in real estate.
Have a great February
Best,
Elena
Your Friend in Real Estate
PS. If you know of anyone thinking of buying or selling, I would appreciate you putting us together.
