In a recent speech at the World Economic Forum in Davos, Switzerland. Prime Minister Justin Trudeau praised Waterloo University as a Canadian economic hub rich with “brilliant minds and brilliant ideas.” Trudeau also highlighted comments from President of Y Combinator that mentioned “one school that stood out as a source of graduates with sparkling new ideas was Canada’s Waterloo University.” View more of his speech here.
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.