Best Developer Investment, CEO WEHBA, Planner Mike Collins-Williams

<p dir="ltr">I’d like to take a moment to reflect on the human beings negatively affected by investing on pre-construction or speculation. There have been many and will be many more people losing their 15% deposits on pre-construction condos and houses and they’re on the hook for any costs and losses incurred by the builder when they resell the property.</p> <p dir="ltr">In combination with a slowing economy and job losses it’s just awful out there.  </p> <p dir="ltr">In a country with massive affordability issues someone was going to get burnt and let’s not forget renters who are praying to stay in their rent controlled units as a move could be a disaster in having to pay today’s outrageous market rents.</p> <p dir="ltr">A friend of mine told me he rented out his downtown Toronto condo, two bedroom, two bath for $3,500 plus utilities and it’s still negative cash flow. Rent went up $500 over a two year period.</p> <p dir="ltr">If the federal Liberals wonder why their polling numbers look so bad… well they didn’t have the courage to force municipalities to revise their zoning to allow for higher density and they’ve simply allowed immigration to exceed the supply of health care, education and housing.</p> <p dir="ltr">While the Canadian economy is shrinking in real GDP terms.  The numbers are even worse when you remove the economic growth from immigration.  Housing affordability hasn’t improved much either and it’s about to get worse.</p> <p dir="ltr">Royal LePage is forecasting Toronto housing prices to increase by 6% by end of 2024.  Between rate cuts and rising prices, this is why I’ve recommended my clients to wait for a rising market to sell to maximise their sale prices.  We investors need all the help we can get with investment properties so out of favour in the current market.</p> <p dir="ltr">The housing crisis still exists, there are deals out there for short term gains for those with deep pockets and strong stomachs.  I still believe those who create housing, as they always have will continue to be a pro