Real estate investing is a lucrative business, but in today’s post economic-crisis world, that many Canadians are enjoying, many wonder when the next fall or total collapse will occur. For all of those who could afford to take advantage of the crisis when it peaked in 2008, they were able to snatch up relatively cheap properties – between foreclosures, short sales and those trying to sell before it was too late. But many may wonder if, or when, the other shoe will drop. When will the next crisis hit? What will trigger it?
This is a topic fraught with speculation, but there still seems to be a healthy buying and selling market in Canada – and several very strong markets at that. Real estate investing is often considered an art of the economy, and as an investor you simply have to look closely to spot the signs of an endangered marketplace.
No one can predict the future, but some would make educated guesses. A few issues that savvy real estate investors will be keeping their eyes on are firstly the state of international affairs and whether we may be facing yet another war, and secondly, the possible legalization of marijuana. At the moment, both of these things seem realistically possible, but it’s the marijuana that will have the most direct impact. How? Simple. Multi-family buildings and condos are going to be rife with landlord-tenant issues, between those who don’t smoke and those who do. Marijuana has a pungent and infectious odour that can be detected a long ways off. If anyone in your condo is smoking it, or growing it, it’s likely you will be affected in some way.