How will the real estate explosion affect local Hamiltonians?

At Robert Floris’ Mortgage Architects office we were mildly surprised to learn that 2016 values rose in Hamilton along with the giants: Vancouver and toronto. Today we analyze the good and bad of these price increases.

Good:

1. If you own a home, your value certainly increased.
2. Buyers are restoring not only homes but the neighbourhood as well which makes Hamilton a better City.
3. Expectations in 2017 is that this increase will continue.
4. Helps our local economy as building permits are up.

Bad:

1. Makes it more difficult for local Hamiltonians to purchase as their affordability level decreases.
2. Our secret on how great Hamilton is as a City has been discovered.
3. Hamilton is no longer considered inexpensive.
4. Local your have moved to Brantford and other areas of Ontario to enter the housing market.

Robert Floris is a mortgage planner, born and raised in Hamilton, Ontario. He offers free advice on financial planning and mortgages with no pressure and no obligation. You can apply for a mortgage online on his website at: Online Application