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  • Demitry Omrin


The mortgage qualification rule changes that took effect January 1, 2018 converted many potential buyers into renters since they no longer sufficiently qualified for mortgage financing. This drove up rental value in Toronto. COVID however has changed this dynamic. Short-term or AirBNB rentals are now hitting the Toronto rental market due to restrictions stemming from COVID. This has resulted in more choice for prospective tenants. Rental value and market value of condo apartments in Toronto are down. A relatively minor correction is not unwarranted. However many owners rode the rental "wave" and invested in multiple units so there is potential for some investors to sell of assets. Always think long term and hedge against risk responsibly otherwise the upfront returns are paid back when policy or market dynamics change. #recg #stresstest #realestatevaluation #torontorentals

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