Scott McGillivray’s podcast Real Estate Rebel kicked off its second season last month with new episodes every Tuesday until Dec. 29. With one of the wildest real estate markets the country has ever seen still unfolding, we checked in with the HGTV star in the hopes that his two decades of experience will help us make sense of it all.
How do you navigate this one-of-a-kind market from an investment standpoint?
The best advice I can give is to not chase the trends. For years I’ve been telling young people to invest in the suburbs. If you did, great, the value of your property probably just went up. Now that everyone is doing it, it’s time to take a look at what’s becoming available in the cities. If you can withstand a few years of uncertainty while we all collectively adjust, you’ll probably see the value go back up.
Do you see the trend of fleeing the centre of the city continuing or will it adjust?
Obviously, I don’t have a crystal ball, but I can make a few educated guesses, and I believe that ultimately the cities will rebound. It’s just a matter of how long it will take. It could be two years, five years or 10 years, but the cities will thrive again. Right now nobody is keen to get in a condo elevator or be in any other small, shared space, so the suburbs are very appealing. I expect that to last for a little while yet.
Where do you see the real estate market going in 2021?
As government subsidies run out, the reality of the numbers — whether it be unemployment rate, debt-to-household ratio or the amount of taxes people owe on income that they no longer have — will hit. At that point I expect we’ll start to see more inventory and more volatility in the markets. And typically, what you see in that type of situation is a drop and then a quick bounce back as people take advantage of some of those opportunities.
What keeps you excited about the real estate industry?
There’s always something new and different happening. New properties, new opportunities. No two deals are ever the same, and every time I have a new experience and learn something different. It’s also a unique type of investing because literally anyone can do it. Even if you don’t have a penny to your name you can still do it. As long as you have the knowledge and the ambition, you can find people to invest with you. I love the hustle that’s involved with investing, and I admire people who do it.
What inspired you to consider doing a podcast?
I’ve been wanting to do a podcast for a long time, I just couldn’t ever find the time to do it. Then COVID hit and all my usual work was put on hold, so it was the perfect time to get started. I love podcasts because they’re so quick and easy to produce and you can talk about anything you want. TV is great, but it can be months and months between filming and when it goes on the air. With the podcast, I can talk about more current events and time-sensitive issues.
What does this medium offer that you haven’t found in all the other things you do?
It allows me to go into detail and really get to the nitty-gritty of certain topics in a way that I can’t in my shows. There’s more to real estate investing than we can fit into an hour of television. This allows me to cover all the extra stuff that doesn’t make it to air. It’s also allowed me to talk to all kinds of guest experts, which has been really exciting and helpful. I’ve learned a lot from them while doing this show!
Who has been your most interesting guest thus far, and why?
Honestly, all the guests have been great for different reasons. I’ve had financial experts and real estate experts that have offered some really great insight and sound advice. I was particularly excited to talk to Brandon Turner and Grant Cardone. Two guys who have done amazing things in the real estate investing space. I think listeners will really enjoy those episodes.
What are you hoping people take from your podcast?
I hope people realize that they can do it. Real estate investing is not reserved for the wealthy or elite. If you’re willing to do the work you’ll be able to find investors who will put up the money. I hope people will be inspired by the podcast — whether they want a single income suite or to become a full-time investor. I also want people to learn from my mistakes. When I was starting out I didn’t have anyone to guide me so I made a few mistakes. I want to share them with people so they don’t make the same ones!
What’s the best real estate advice you’ve ever received?
Never give up. It’s true in everything but especially real estate. If you don’t get the first property you want, move on to the next. If the first lender you go to won’t give you financing, move on to the next. There is always a solution. You just have to find it.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
