Episode 124: The future of renting in Toronto
For almost 20 years, I’ve been on the ground level of the Toronto real estate market. I don’t need no stinking crystal ball 🔮. Advice is far more useful than opinion. Those of you renting need to understand where rental prices are going and how that will affect you. Predictions are that prices are going up 11% for rentals in 2019. Right now averages are in $2000s. By 2030, likely $3000s. By 2040, likely $4000s. And property values will go up from almost $ $1M now to possibly $2M by 2030. And $3M by 2040. The time is now to reverse engineer your future. The goal is to pay down your mortgage and be ready to rent out your spaces as a way to supplement your income as you get older. If you are ready to get started, the time is now.
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