I heard a story this week about a civics lesson. It did not take place in a high school. It was a lesson both learned and taught by some elderly newcomers who were participants in a civic awareness project. Along with learning to speak English and finding out about the systems and the laws of Canada, these folks are being challenged to engage with their new communities.
We constantly hear headlines proclaiming the 'Toronto Housing Market' is this or that, but in fact, each neighbourhood within the city has its own housing market, as unique as its culture. Understanding the many factors that shape housing prices in each of these markets, as well as knowing where prices are trending, is an important part of a successful home purchase.
Buying a property in a neighbourhood that is in the early stages of such a process is generally considered one of the best ways to build equity in terms of real estate investments. The media constantly runs stories along these lines. Unfortunately however, they couldn't possibly be further from the truth.