Broadview Table Talks: Toronto Real Estate Podcast

Season 4, Episode 5: Are We Going To See A Toronto Real Estate Market Crash?

Everything to do with Mortgages in this Wild Market

Everywhere you turn, you see the headlines about interest rates in Canada. The rapid rate of increase has been staggering. Even though the Bank of Canada warned us about it, almost everyone had been caught off guard by it. Join us as we sit with Rakhee Dhingra of Mortgage Savvy, to see what she has been seeing on the ground as a mortgage broker in Toronto.

Check out her team at www.msavvy.ca.

Season 4, Episode 4: This Crazy Rental Market!

What's happening in the crazy rental market? And how did we get here? How long will it last for?

While we only had a +5.3% price growth in June for the GTA from this time last year, we saw an increase of +21.9% in average rental prices. Why did the pace of the average rental price grow almost 4x higher than the price of purchasing a home? It’s because of the rapid increase in the interest rate policy used to tame inflation has put buying activity on pause. Less people qualify for the mortgages they once were able to qualify for, and that the cost of borrowing has increased dramatically, so that more people are looking towards renting until there is less turbulence in the market and that hopefully rates come back down a little bit. Or they are waiting for prices to fall, so in the interim, they decide to rent.

Either way, our leasing agent Keyvan Foroughi is on the ground running with tenants, putting in offers in the competitive rental market. He’s seeing lease listings have multiple offers, and they are leasing way over the expected asking price from recent comparable leases from only a month ago. Perhaps all this craziness in the leasing market will bring back real estate investors?

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If you want to chat with us, do the following:

1. Send an email at [email protected]; or

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If you’re not ready to reach out and just want to follow for more, find us online:

Web: http://www.broadviewavenue.ca

Season 4, Episode 3: Housing (un)Affordability: How to Make Housing More Affordable.

Housing in big cities like Toronto are massively unaffordable. We talk about why it’s like this, how can the government make housing more affordable, and how individuals can make it work within their own budgets.

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If you want to chat with us, do the following:

1. Send an email at [email protected]; or

—

If you’re not ready to reach out and just want to follow for more, find us online:

Web: http://www.broadviewavenue.ca

Season 4, Episode 2: Financial Literacy: How to Make Sound Financial Decisions

Do you know the concepts of financial literacy? What should you invest in?

They don’t teach any of this stuff in school. Thank goodness I learned it early on. Listen as Ken talks to the team about financial literacy and how to make sound financial decisions.

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Web: http://www.broadviewavenue.ca

Season 4, Episode 1: Buyer's Remorse: as the market cools, what can buyer's do about it?

Welcome back to the podcast! It’s been a year since our last episode. Since then, we’ve been focusing on rapidly growing the team. Now that we have a great vibe going on, let’s talk about what happens when buyer regret their decisions.

Also in this episode, we talk about housing (un)affordability in Toronto, and what “affordable housing” even means.

Check us out at www.broadviewavenue.ca.

People are coming back to the City. Not everyone, but enough. Enough to drive the rental market insane, causing bidding wars all over again… FOR RENTALS!

What does that mean for the Toronto real estate market? Watch this video or listen to this podcast to find out.

Join Ken Yim with Terry Hepditch of HOS Financial inc. to talk about the Rent-To-Own program. This revolutionary program gives consumers an alternative option when the bank says “NO”! In this webinar, we will teach you about some alternative borrowing options to give your family (or your buyer cli

Finally, we can dine indoors at restaurants again! Malls are open again. Over 61% of adults have been double vaccinated, 80% have at least one dose. Even if you personally have chosen not to vaccinate, the fact is that we are heading towards herd immunity and we can safely return to our normal lives.

So what does this mean for the downtown Toronto rental market?

Well, we are noticing just in this past month or so, the rental market has been on fire. While prices haven’t fully recovered to pre-pandemic levels, inventory is shrinking, demand is strengthening, and we are even seeing bidding wars on rental properties. When the volume increases, prices eventually do too.

Finally, we can dine indoors at restaurants again! Malls are open again. Over 61% of adults have been double vaccinated, 80% have at least one dose. Even if you personally have chosen not to vaccinate, the fact is that we are heading towards herd immunity and we can safely return to our normal lives.

So what does this mean for the downtown Toronto rental market?

Well, we are noticing just in this past month or so, the rental market has been on fire. While prices haven’t fully recovered to pre-pandemic levels, inventory is shrinking, demand is strengthening, and we are even seeing bidding wars on rental properties. When the volume increases, prices eventually do too.

In fact, you can see rents for a one bedroom (and one bedroom plus den) in downtown Toronto climb up slowly when you look at the average rental price on a monthly basis. If you haven’t been downtown lately, take a stroll. It’s thriving. We have been locked up for too long. We are all (im)patiently anticipating a normal life again. We want to see each other, we all want to do things. We are sick of cooking and delivered foods. We crave the experience of living, eating, and working downtown again.

In addition to all of this, real estate is getting expensive. A lot of people are priced out of home ownership, or they are choosing not to participate in it. They are looking to rent until they get to the next stage in life, save more money, or decide where they want to live. Maybe it’s a “no-strings attached” way for those that did the urban exodus to ease back in to the city.

It’s no wonder why the rental market is picking up again.

I think we are just getting started too. Just wait until we are completely back to normal, masks aren’t required, and more importantly when the borders open up again and we have a flood of newcomers to the country. As homes get more and more expensive, it just props up the rental market even more.

Until next time, we hope to talk or see you soon.

Kenneth Yim

In today's video, we have a discussion about buying your first investment real estate property, and a few tips and tricks that you should know to get you in the right headspace and make sure you set off on the right foot.

I wanted to have this chat with life insurance agent Erica Lee for a really long time. I always hated spending my hard earned after tax money on life insurance (or any insurance for that matter). Then again, I've also always heard that all wealthy people believe in life insurance, and use it as an investment and tax planning tool. After consulting with her, I can see how this is so powerful.

For full disclaimer, I am NOT getting paid for this. I do not sell insurance products, nor I do not get a kickback on any insurance policies. I probably won't even get a real estate deal or client referral from Erica for this. I only wanted to bring this to light because I finally took the leap, and want everyone to see the light too. It's an important conversation to have, especially if you hold assets and have any loved ones to pass them off to, because inevitably, we will all pass on and you can't take it with you.