Items

• 2020

  Low mortgage rates help home buyers as prices rise — if they can qualify

  This article tells a similar story of many that I have recently heard, the story of renters purchasing homes in order to take advantage of the low interest rates that were a result of the global pandemic. This article details that the estimate of about a 3% average interest rate will remain the same until the end of the year! Despite this, because of many Americans having less than reliable jobs through this pandemic era, banks are not giving out loans to just anyone, and it has been difficult to qualify for a home loan. Lower income households are still having difficult acquiring property, possibly even more difficulty than before the pandemic.
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  2020-06-16

  How the Airbnb ban led to lower rental prices in Canada's major cities

  Many of Canada's largest cities have been experiencing what have been dubbed housing crises in the past few years; rental and purchasing prices have shot through the roof while availability shrinks, pushing out many poor or even middle class residents. This article explores how the drop in demand and government restrictions for AirBnBs (short term online rentals), as a result of the pandemic has impacted the market. To ensure they are still receiving income from their properties many who were renting their units for short term stays are instead turning to leasing them out traditionally, causing an influx in housing availability and driving the prices down with the increased supply. While this is not the best for those looking to turn a profit off their real estate it is an unexpected benefit of the pandemic for many average citizens.