Despite recent regulatory changes, homes in Toronto and Vancouver will become even less affordable in the long term if supply and demand issues aren’t addressed, according to CIBC Deputy Chief Economist Benjamin Tal.

Review BNN’s report on Real Estate for more details by following this link below:

http://www.bnn.ca/toronto-vancouver-housing-to-become-less-affordable-when-the-fog-clears-cibc-1.915173

Fact is that 55% of Canada’s immigrants settle in the GGTA (Oshawa to Hamilton)…. at the current level of 250,000 per year, there is an average of 370 people arriving and looking for accommodation each each day!!  Keep in mind they are not refugees and have some financial capacity.  Unless the government changes the rules and offers incentives to reside outside the core urban areas, supply issues will remain.

For this reason I think areas of Hamilton, St. Catharines and Welland offer good alternatives for investment as they have excess capacity for growth….. all that is needed is people and jobs to reduce pressure on housing prices.

If you have any particular question either call or message below if you would like to discuss,

Mark Steiman