Today is June 23 2017. This is a Kitchener Waterloo Real Estate News Update

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Property prices and subway stops

I think we all agree that there is a correlation between property prices and subway stops. But some are more affordable than others. Here’s one from Toronto and an old one I did for KW two and a half years ago (should have bought then).

Signs, signs everywhere signs

Uptown Waterloo is open for business and now they have lawn and window signs to remind us

Crisis? What crisis?

Everyday I get an email asking when the crash will come. I sometimes ask the emailer to define crash. But usually I just say never. Here is a news release backing me up because of major differences in the housing and mortgage finance systems.

Bank Of Canada believes housing is still pretty cheap

The Housing Affordability Index measures the ratio of disposable income that goes towards paying for housing. It currently is at 0.346, which is 1.14% lower than the historic average. Of course, the majority of Canada isn’t behaving like the lower mainland and the Greater Golden Horseshoe.

The state of the rate

The Canadian inflation rate hit it’s lowest level since 1999, challenging Bank of Canada’s plan to raise rates. Now we are not talking about when they will go up, but if.

Out of Africa

In terms of affordability, Vancouver ranked 107 on the world list of 209 cities, which was the top spot for a city in Canada, followed by Toronto (119), Montreal (129), Calgary (143) and Ottawa (152). Costs of housing, transportation, food, clothing, household goods and entertainment were all considered. Luanda, Angola is #1 most expensive city in the world.

Raising the rent

Ontario Landlords can increase rents up to 1.8% next year without approval of the Landlord and Tenant Board, as rent controls are expanded under the Liberal government’s housing plan.