Real Estate

Charities helping higher-income Canadians buy houses: Canadian real estate news for July 29

04/08/2023
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This week’s top real estate and housing news.Alex Rothe/Alexander Rothe

Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.

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As home prices soar, Habitat for Humanity helps higher-income Canadians buy properties

The latest sign of how unaffordable Canada has become: a charity that’s historically provided lower-income families with no-interest loans to buy a home is now seeing its client base shift to higher income brackets. Habitat for Humanity is witnessing a profound change in who it is assisting, reports Rachelle Younglai.

Should parents sell half their home to their adult kids and share the space?

In the usual narrative of family assistance in home buying, parents give down payments to their

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Real Estate

Buy Property in These 5 States To Be Rich in 5 Years

16/07/2023

Countless millionaires built their fortunes from a single property, and you can too. But when choosing a state, remember that location is everything.

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“Investing in real estate has long been considered a reliable avenue for building wealth,” said Mike Qiu, owner of Good as Sold Homebuyers in Seattle. “While the real estate market can be unpredictable, certain states have consistently demonstrated promising potential for real estate investment. In the next five years, several states are expected to offer lucrative opportunities due to factors such as population growth, economic prosperity and favorable policies.”

If you’re looking for a place to start your journey to real estate wealth, the following five states should be at the top of your list.

Texas

Mark Severino, owner of Best Texas House

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Real Estate

Buy The REIT - Sell The Real Estate

10/07/2023

THEPALMER

Cognitive dissonance has hit the real estate market as people simultaneously love real estate and hate REITs. Physical real estate properties are presently selling for all-time highs while the REITs that own them are selling at fear mongering, recession level multiples. We discussed the cheapness of share prices more thoroughly here, but today I want to discuss the expensiveness of the physical real estate.

When these two facts are put together it creates a rather odd opportunity in which one can buy a REIT at 70 cents on the dollar and then sell its assets at full price.

Allow me to begin by taking a look at a variety of actual real estate transactions.

Real world transactions

The office market has been written off as dead, but big money has come in and paid quite a price tag in the recent SL Green (SLG) Office sale.

“New York City’s

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Forec

Two Americans Take a Chance in Playa del Carmen, Mexico: Which Condo Did They Buy?

16/05/2023

Morien Wark and Zoelle Appell had long been fond of Mexico, particularly Playa del Carmen, a coastal resort town where they had spent many vacations over the years. During the pandemic, the couple, who met at a restaurant in Austin, Texas — Mr. Wark was the manager, Ms. Appell a server — began toying with the idea of putting down roots there.

In 2021, they were living in Portland, Ore., in a house they bought in 2018 for $350,000 and had spent years renovating. Mr. Wark was working remotely as an accountant for a hospitality group, a job he could take anywhere, and Ms. Appell was working at Trader Joe’s and not feeling especially connected to her job.

The couple, now both 43, applied for temporary residency status in Mexico so they could stay there for longer than six months at a time. But they still had no plan for

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