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Saskatchewan resident making real estate more accessible for all – SwiftCurrentOnline.com

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A Saskatchewan native is making real estate more affordable for everyone through a new website called Willow.ca

CEO and Founder of the site, Logan Yergens was born in Estevan and provides details on his new online venture. 

“So Willow.ca is an online platform that allows everybody to get into real estate regardless of wealth. Our smallest amount currently with our first couple of properties is less than $13 and someone can get started, it’s democratizing real estate to make it accessible to everybody.”

Yergens adds that everyone knows real estate is one of the best investment vehicles of all time, imparticular commercial real estate but this has become more and more exclusive. Williow.ca makes those investment vehicles accessible to everyone and it only takes about five minutes to get started and own your first piece of property. 

According to Yergens, real estate in its traditional form is 100% or nothing. A person either owns 100% of it or they buy a pool of properties through what’s called a Real Estate Investment Trust (REIT). The issue with this is that investors don’t get to pick which asset they are buying, they are subject to market blows and the returns are averaged across hundreds of properties along with a lack of choice/awareness about which properties you own. 

In a press release from Yergens, he states “Willow.ca purchases and manages thriving commercial buildings, passing along monthly profits from rental income, plus appreciation on the buildings themselves. And you can sell your shares whenever you want.”

Yergens provides some insight into the benefits of his company. 

“If you can break down the ownership into a small enougth piece that allows everybody to participate, I think that is a great thing to do. Then when you are doing that you need to also do it in a very simple, intuitive way that you don’t have to be the landlord, you can pick and choose which properties you’re investing in, and you don’t have to be stuck in those investments for long periods of time and you don’t have to pay realtor fees when you want to sell out.” 

Yergens grew up on a farm just west of Estevan Saskatchewan and his mother was a financial advisor so he had always been exposed to people and their investments. After doing his undergraduate degree at a university in Montreal, he moved to Toronto where he worked in traditional finance and started working for a blockchain company where he was exposed to new ways of investment vehicles or ideas of how to coordinate/design these vehicles. Yergens says that Willow.ca is allowing him to bring his knowledge and experience to a real-world application accessible to everyone. 

In regards to the current state of real estate, Yergens says that at the age of any city, ownership of the property within the city becomes more and more consolidated so he feels as though that is what we are currently seeing around the world where fewer and fewer people are able to own homes/real estate. Ultimately he says this is not good for society and just creates a further and further divide across the population. 

Yergens feels that breaking ownership from own or not to fractional so that anyone can own a piece of property and buy more every month or two weeks or whatever they wish to do changes the paradigm and allows everyone to participate regardless of wealth and this a guiding principle behind the company. 

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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

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