While the plunge in the price of oil has certainly hurt the overall Canadian economy and the value of our loonie, it is providing a definite silver lining as far as Eastern Canadian real estate markets are concerned, especially those in Ontario. That's because it has triggered a shift of economic activity from West to East, and with that a "reverse migration" of people will occur. Also the strengthening U.S.economy will provide a big lift to manufacturing exporters, the bulk of which are located in Ontario. The low dollar will help boost even more export sales. All of this is great news for Ontario's employment situation. Finally, the oil patch woes caused the Bank of Canada to cut interest rates at a time when everybody thought they would finally be increasing. It all adds up to a "perfect positive storm" for Ontario real estate!
I am very pleased to announce that I have launched, besides my new website, two new online portals, www.NakomaHomes.info and www.UniversityGardensHomes.info, which are designed to give homeowners additional statistical information beyond what I can fit onto my newsletter.
This website will provide you with two years worth of data for each statistical category on my newsletter, making it very easy for you to see price growth changes on a year over year basis. In addition to the enhanced statistical data, you will find a video from the Hamilton/Burlington area. This site will be updated each month with new content, so be sure to make it a point to become a regular visitor! I will be adding new features to the site as we go along, so your comments and suggestions are very welcome indeed! Larry Szpirglas |
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August 2020
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