Ciao! Welcome to a new episode of Building Wealth Through Real Estate...Brick by Brick with me, Nico James-Bock, Founder of The CondoWiz™ Group and Broker at Keller Williams Co-Elevation Realty in Toronto.
In this episode, I dive into the current state of the real estate market and explore the key factors driving property values. I focus on the cost of ownership, job security, and housing supply—fundamental elements that shape how the market behaves. I also touch on regulatory changes and global influences that add to the complexity of today’s environment.
I point out that the media often sensationalizes market stats, which can lead to unnecessary fear or hesitation. From where I stand, this is clearly a buyer’s market—especially in the condominium segment. Inventory levels for new condos remain high, and I expect that to keep downward pressure on prices for the foreseeable future.
My advice to buyers is straightforward: don’t wait for the perfect moment or for the economy to shift. The current conditions offer real opportunities, and now is a smart time to act.
Salient Facts & Next Steps:
1. Bank of Canada to potentially reduce interest rates by 25 basis points at the June 4th announcement.
2. Federal Government to continue negotiations and implement retaliatory tariffs on $21 billion worth of U.S. imports.
3. CMHC to oversee the allocation of $365 million for building 767 new homes in Toronto.
4. Federal Government to manage the $2.5 billion investment in low-cost financing for rental housing construction in Toronto.
5. Ontario Provincial Government to work towards building 1.5 million new homes by 2031.
6. Ontario Provincial Government to implement the $2.3 billion infrastructure funding for water and wastewater systems.
7. Toronto Municipal Government to proceed with freezing development charges and offering incentives for rental builders.
8. Toronto Municipal Government to initiate the construction of 8,000 affordable homes through development charge waivers.
9. Toronto Municipal Government to continue implementing tenant protection programs such as the Rent Bank and Eviction Prevention Program.
Ciao 👋🏼
Helping you increase wealth through #realestate
Book a time for a quick 15min Chat - Discovery: https://calendly.com/thecondowiz/15min
Social:
https://linktr.ee/nicojamesbock
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