Heddle Real Estate - Royal LePage State Realty Brokerage

By Shawna Connelly
Posted Monday, Feb 28, 2022 11:37 am

Real estate investing frenzy rips through Canadian housing market

The surge in interest from investors, who provide the bulk of the country’s rental units, is feeding record levels of home construction despite concerns about the types of units being built

When Michael Sarracini first started investing in real estate in 2000, he said people told him he was crazy. He was warned that he could be stuck with huge mortgage costs if interest rates hit double digits like they did in the 1980s. He was told he could end up defaulting on loan payments and lose his property to foreclosure.

“They would always reference some obscure moment in the 1980s where interest rates went up for 24 months,” he said. “Real estate investing was not common.”

At the time, Mr. Sarracini was a student at the University of Guelph. He used his student loan for a down payment and together with a friend and his dad as co-signer, they bought a house in Guelph for about $110,000. They added bedrooms in the basement and rented them out to fellow students. The rent covered....[READ MORE]

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