November 22 2017
Kitchener Waterloo Real Estate News Update
November 22 2017. In today’s news: living in a parallel universe, six new storeys on Victoria at Margaret, six predictions that were way off, five regrettable real estate trends, Canada as a tech hub, and some great reasons why the Canadian property market will not fail.
Living in a parallel universe
I’m in Taipei for a couple more days, sitting around coffeeshops, wandering the streets, riding the subway, hiking in the mountains and riding along the rivers. I’m living a fake life, spending my mornings online, reading and writing and taking care of clients coming up to closings. It is really amazing how much work you can get done from half way around the world – and with no distractions!
No phone calls.
No client meetings. No meetings at all!
I change out the sim card every couple of days and check my messages. Otherwise I catch up with my emails first thing in the morning. When it is 8am in Taipei, it is 7pm in Waterloo.
Living in a 180 square foot, fully loaded, fully functioning bachelor suite, I marvel at it’s efficiency. It even has a washer dryer! I cannot imagine a world without airbnb.
Committee approves six-storey building on edge of Kitchener heritage district
Dozens of residents packed a room Tuesday morning where the committee of adjustment approved the majority of the zoning exemptions requested by Vive Development Corp. for its proposed development at 64 Margaret Ave. A controversial development that will put a six-storey apartment building on the edge of the Civic Centre heritage district can proceed, with some modifications.The proposition would see a six-storey apartment go up on Victoria Street, as well as a three-storey townhouse along Margaret Avenue. A small portion of the project will spill into the heritage district.
These 6 predictions about the 2017 Canadian housing market were way off
No one of could have forecasted the wild ride that was the Canadian real estate market in 2017. Following a white hot first quarter with record home prices, the introduction of Ontario’s Fair Housing Plan in April saw sales and prices plunge over the summertime. Now, as we head into 2018, the marketplace appears to have found a new balance. How does all of this compare to what economic experts were predicting at this time last year? Here are six forecasts for 2017 that ended up being way off.
- The “no inspection” trend: 58 percent
- The “offer sight unseen” trend: 57 percent
- The “co-buying with strangers” trend: 54 percent
- The “cashing out from retirement savings” trend: 37 percent
- The “tiny home” trend: 36 percent
Canada Has Always Been a Tech Hub
Over the past decade or so, Canada has proven itself a leader in technology and innovation. One only needs to look at the success Canadian tech companies like Hootsuite, FreshBooks and Shopify have had to be reminded of that fact.
More importantly, Canada has a long history of individuals and companies who have demonstrated their ability to push the technological innovation barrier. From the invention of the radio, to that of the BlackBerry, to the recent advancements we’ve seen with blockchain (read: cryptocurrency) technology, one thing is certain: Canada has always been a place where innovation thrives.