Hey there!
Well, folks, it finally happened!
After months of waiting and watching the skies, we finally got enough snow to justify firing up my brand-new snowblower.
Now, I know what you might be thinking:
“Vince, why on earth are you so excited about a measly few inches of snow?”
But here’s the thing: as a new snowblower owner, I’ve been itching to put this baby to the test ever since I brought it home.
Sure, it may not have been the massive dumping of snow that the weatherman promised us, but hey, I’ll take what I can get!
So, this morning, I woke up to a decent blanket of the white stuff covering my driveway. I’ll admit, for a moment there, I wasn’t sure if it would be enough to warrant breaking out the big guns.
But then I thought, “You know what? Life’s too short to wait for the perfect snowfall. Let’s do this!”
And so, with a childlike grin on my face, I fired up my shiny new snowblower and got to work.
My wife, bless her heart, even snapped a picture of me in action because she knows how long I’ve been waiting for this moment. 📸
As I carved a path through the snow, watching it disappear before my eyes, I couldn’t help but feel a sense of satisfaction and excitement.
Sure, it may not have been the winter wonderland I was hoping for, but sometimes, it’s the little things in life that bring us the most joy.
And you know, as I was out there clearing the driveway and pondering the unpredictability of Mother Nature, it got me thinking about another kind of unpredictability that’s been on my mind lately:
The current state of the housing market.
It’s no secret that the housing market has been on a wild ride the last few years.
But amidst all the ups and downs, there’s one trend that’s been quietly gaining steam: the shift away from single-family homes and towards high-rises and multi-family low-rises.
Now, I know what you might be thinking:
“But Vince, I thought the single-family home was the American (or in our case, Canadian) Dream!”
And you’re not wrong. For decades, the idea of owning a detached home with a white picket fence has been the ultimate goal for many families.
But here’s the thing: the math just isn’t working out anymore 📊
Don’t believe me? Take a look at this eye-opening chart, courtesy of the brilliant Mike Moffat:
Twenty years ago, Canada had 41 different housing markets where a middle-class family could afford a family-sized home.
Today? We’re down to a measly 9.
Let that sink in for a moment. In just two decades, we’ve seen a staggering 78% drop in the number of markets where the average family can realistically afford to buy a home😱
And it gets worse. According to Mike, there’s not a single market in Canada where housing affordability has improved in the last twenty years. Not one!
Take London, Ontario, for example. In the last two decades, single-family home prices have skyrocketed by over 300%, while wages have only risen by 76%.
And that’s not even accounting for inflation!
So, what does this mean for the future of housing?
Well, it’s no wonder that we’re seeing a growing trend of developers and investors shifting their focus towards multi-family rental properties like high-rises and low-rise townhouses with separate upstairs and downstairs units (and even ADUs in the backyard!).
As much as we might love the idea of the traditional single-family home, the reality is that it’s becoming increasingly out of reach for the average Canadian family.
And while this shift might take some getting used to, at the end of the day, what matters most is that people have an affordable roof over their heads 🏘️
That’s where financing comes in. As developers scramble to get these multi-family projects off the ground, they need access to the right funding to make it happen.
And that’s exactly why we’re hosting a special event on February 27th to discuss multi-family financing and the government-backed programs that are available to support these types of developments.
If you’re curious about the future of housing and want to learn more about how you can get involved (or maybe even invest in a multi-family property yourself!), we’d love for you to join us.
Just click the link below to reserve your spot 👈
Trust me, you won’t want to miss this. The housing market is changing, and those who stay ahead of the curve will be the ones who come out on top.
So, what do you say? Ready to explore the future of housing together?
I’ll save you a seat! 😉
Until next time,
Vince
P.S. – While the future of housing may be changing, one thing remains the same: our commitment to helping you navigate the ever-evolving world of real estate. Whether you’re a first-time homebuyer, a seasoned investor, or somewhere in between, we’re here to guide you every step of the way. 🙌
