Real Estate

Huge influx of immigrants from USA

  • Last Updated:
  • Oct 4th, 2018 12:09 pm
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[OP]
Jr. Member
Jul 4, 2018
183 posts
113 upvotes

Huge influx of immigrants from USA

Man this is going like crazy, every week I am coming to know that new family just came to GTA from USA.
All of them are coming on PR, bringing money, renting a townhouse and waiting for right time to buy a home after obtaining 1/2 notice of assessments...
They all seem have at least 30% as downpayments.

In my area I started noticing that townhomes rents have surpassed 2600/2700 range.
Once all these guys obtain some credit history may be in 1/2 years span, you will again see new euphoria.

Fasten ur seat belts guys...
7 replies
Banned
Jul 8, 2018
40 posts
7 upvotes
United States has start to torture foreigners. The bounce of real estate in Canada will be coming soon.
Lavaris1 wrote: Man this is going like crazy, every week I am coming to know that new family just came to GTA from USA.
All of them are coming on PR, bringing money, renting a townhouse and waiting for right time to buy a home after obtaining 1/2 notice of assessments...
They all seem have at least 30% as downpayments.

In my area I started noticing that townhomes rents have surpassed 2600/2700 range.
Once all these guys obtain some credit history may be in 1/2 years span, you will again see new euphoria.

Fasten ur seat belts guys...
Deal Addict
Mar 20, 2017
1160 posts
901 upvotes
We don't really need help from USA people.
My latest feeling is that now rent is growing much faster than before. maybe 20-30%+ YOY instead of 15%.
If it keeps going, and sale prices don't change much, the year of 2019 will be a year of massive cashflow-positive deals even without USA people.

Remember, they are also subjects to 15% FBT.
Newbie
Feb 20, 2017
73 posts
42 upvotes
Hamilton, Ontario
I moved from the US June 2017 and bought a townhome in Hamilton last month.

If the people are moving here, how can they be subjected to the 15% FBT? Yes these people are able to afford paying higher rent and with more demand in the rental market, the prices are bound to go up. But it has nothing to do with the country per se. Just more people moving into an area and not many houses that leads to shortage.
Deal Addict
Jan 20, 2016
2028 posts
1007 upvotes
Houston, TX
Lavaris1 wrote: Man this is going like crazy, every week I am coming to know that new family just came to GTA from USA.
All of them are coming on PR, bringing money, renting a townhouse and waiting for right time to buy a home after obtaining 1/2 notice of assessments...
They all seem have at least 30% as downpayments.

In my area I started noticing that townhomes rents have surpassed 2600/2700 range.
Once all these guys obtain some credit history may be in 1/2 years span, you will again see new euphoria.

Fasten ur seat belts guys...
Nice story bro, however I'm seeing the opposite for last ~3 years. For sure there are people coming from USA to Canada (as well as opposite), just the balance rather neutral than having any SUBSTANTIAL difference.
You're not talking about those "refugees" like Quebec having thousands last year, eh? ;) hardly they will afford 2700 monthly rent...
Make the face great again
Deal Fanatic
Feb 9, 2009
7940 posts
4942 upvotes
asa1973 wrote: Nice story bro, however I'm seeing the opposite for last ~3 years. For sure there are people coming from USA to Canada (as well as opposite), just the balance rather neutral than having any SUBSTANTIAL difference.
You're not talking about those "refugees" like Quebec having thousands last year, eh? ;) hardly they will afford 2700 monthly rent...
Regardless of who and what, the rent is the rent and people are paying it .. who is it? I dont know but I can see some people from the US, particularly from the east coast coming up here over time..
Deal Addict
Jul 14, 2002
2122 posts
822 upvotes
Sanyo wrote: Regardless of who and what, the rent is the rent and people are paying it .. who is it? I dont know but I can see some people from the US, particularly from the east coast coming up here over time..
The refugees are paying $1500-2000.
The ones paying $2400+ are recent immigrants (< 1 year) who have a job, usually a couple, husband and wife, combined for about $120k. Some are from the US, generally having some experience in the tech area for a few years.
But generally, not people who are born in the US and have lived there for most of their lives.
Job market is strong and rentals are supporting it.

Who are the people coming up from the East Coast? Are you talking about highly skilled people from New York, Washington, Boston relocating/immigrating to Canada?

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