Right Time to Buy Toronto Real Estate?

Yes, the spring and summer real estate sales rush is just a memory now however this was an outstanding year for both Toronto real estate sales and for Sell Mississauga. Is it a good time to buy real estate? Yes, of course. Toronto’s real estate sector is thriving, but it needs help. The latest stats show sales have dropped considerably in September. The Canadian, US and Ontario governments only see doom and gloom and are creating their usual self-fulfilling prophecies. Even with a severe slowdown, real estate values in Toronto likely will retain their value over the next ten years. And for quality of life, Mississauga is a sure bet. This is one city that is growing and gaining its own identity and personality. You may not make a million if you’re flipping a home these days, but as an investment, not too many other investments will outpace the value of a Toronto or Mississauga home.

The introduction of the HST (which BC citizens are demanding a moratorium on, and so should we) and stricter mortgage qualification rules ruined a healthy and thriving home development market. As we now know, inflation was never a threat and unemployment hasn’t grown significantly, yet our economy is sliding a little because it’s being neglected. 

There wasn’t a threat to Harper’s conservative government before but with our economy flagging and the Feds and Ontario Liberals doing nothing to revive it, it stands to reason that voters will be increasingly upset. The Federal conservatives are comfortable right now, but the winter will bring discontent, especially in Ontario.

And none of it is needed. Canada has an outstanding future. Our natural resources are creating unbelievable wealth, but they also increase the $CAD way above what it is really worth. That hurts Ontario’s economy badly. And with no pressure being put on the Chinese to let the Yuan float naturally to its real level, Ontario’s manufacturing sector will continue hurting. How can we compete with China when they can lower their currency continually to beat us every time? How long does this have to go on before we speak up and do something to change it?   

The US has been unbelievably tolerant toward China and its currency manipulation. The effects on US manufacturing activity is deadening yet the Obama administration continues to let it happen. There’s no way the US or Ontario can allow our manufacturing to continue on this slow death course. Something has to be done. If we act, we can revive our economy. McGuinty’s only solution was to add an HST tax. How is that going to stimulate Ontario’s manufactuing sector and make us a leader in International business?

Ontario has a huge and very important role in Canada’s overall economic potential yet these international plays ruin our GDP.  Every Canadian whether born here or another country wants to own their own home.  We’re not going to fall into the subprime nightmare the US did, so why stifle the home building industry.  Developers like Mattamy Homes and Tridel Corporation are building amazing new buildings, townhomes and homes in Mississauga and Milton. They were willing to invest hundreds of millions of dollars into the Mississauga economy only to see the Federal and Ontario governments do all they can to stifle home ownership.

It’s a good thing homes aren’t made in China or we’d have big trouble. China’s auto production is now above the US, Europe and Japan, so their currency manipulation is unfair and bad for the world economy.  Having everything made in china is just not good for Canada or the US. If the US economy fails, we’re in for a bad ride. We’ve already tied our ship to theirs so we could sink too. It’s time people got noisy about how our economy is being managed. Canada can show leadership in dealing with the Chinese and that should be inspiring for the Americans too.

Getting tough with currency manipulators can help revive our economy and open the door for a very bright future for Ontario. To let things continue as they are is unacceptable. Our aging population demands that we be assertive in protecting our economic interests.