In 2004, more than 230 thousand new homes were built in Canada; last year 210 thousand; and, this year, that number is expected to drop down around 150 thousand.
While the housing market correcting itself, people want to know where to invest in Canada, and when? Don Campbell gives his opinion on this matter in an interview with the CBC’s George Strombolopoulos. Don Campbell is a real estate investment specialist and has been researching the country’s housing market for more than 20 years. In the interview, Campbell recommends that you “…make your money work hard for you”.
Here’s one other thing to consider when you’re going to buy… the government right now is spending billions of yours and my dollars… they’re spending all this money on infrastructure, with new LRTs, new subways, new highways – so follow those tracks.
People are going more green. I don’t know about you, but every time I get on the [highway] 401 or the Highway 1 in Vancouver, it drives me crazy! You can’t get anywhere most of the time of the day. So people are buying within 800 metres of the new LRT, GO Stations, new LRT Skytrain station in Vancouver… fall in love with the potential of that property.
Strombolopoulos asked Cambell to name the top five hot spots in the country, to which he responds:
Long term, and I’m talking five to seven years, you want to be buying in Edmonton, you want to be buying in Calgary, you want to be buying in Barrie and Orillia, you want to be buying in Kitchener-Waterloo/Cambridge, and you want to be seriously looking at Hamilton…
…Hamilton’s got the GO Train servicing it, and it’s getting much more expensive to buy in Toronto, so people are coming down to Hamilton. You’ve got the transitions that’s going down there, the city leadership is fantastic in the region. And it’s close to KWC, it’s close to Toronto (in relative terms).
I bettcha it’s going to be one of the top three in all of Ontario.
Listen to the entire interview in “Don Campbell” on The Hour (CBC)