In April 2017 the Ontario Provincial Government put into force a Foreign Buyer’s Tax of 15%. The immediate result was an abrupt halt in the marketplace. This cooling effect didn’t last long, however, and the heat was turned back up by late May. In fact, house prices rose by 3.6% in Toronto in May (despite decreased total number of sales). The measures also seem to have had little to no effect ...
History has shown that the wealthy have invested in multiple properties… often being part of the reason they became so wealthy. Why solely invest in the volatile stock market, when you can have cash-flow positive investment properties? Everyone needs a roof over their heads, so there will always be a need for real estate. Rent it out and make money!