Google’s moving in Waterloo. #SiliconValleyNorth
CONNECT asset management
December 4, 2017
With a population of about 140,000 people, a third of them students and 20 percent working in the technology industry, Waterloo has been billed as Canada’s Silicon Valley. One of the many reason’s why Google decided to move in. Read more here. #WelcomeNeighbours
Last week we saw vacancy rates in Toronto rise (ever so slightly!), which might mean that rental rates will likely level off (and perhaps even come down… ever so slightly). Hamilton makes headlines again as we see the city becoming more of a metropolitan area with new condos that are very popular for young individuals and first-time buyers looking for low-cost city living when compared to Toronto. And we have great news for variable mortgage holders with Bank of Canada maintaining its interest rate!
You may have heard some of the recent reports stating that a good chunk of Toronto Condos have a negative carry; meaning the inward cash flow on a property—the money received from rent—does not cover the cost of mortgage and condo fees at the end of each month.
If you know what you’re doing, negative carry is hardly a concern.