In-person events are back in full swing. Nothing matches the collective energy of people coming together to network and share success stories so that others can learn to leverage real estate as a vehicle to achieve financial independence. Not only for monetary gain, but time wealth to do what you love. The Landrush and Outlook Conference returned after a 3-year hiatus to provide an outlook into 2023 and beyond, led by legendary real estate mogul, Ozzie Jurock. For nearly 30 years, Ozzie and his team of experts have provided thoughtful interpretations of all the facts, meaningful forecasts, and making money in any market. Touting that the best deals come in uncertain times, and the next 12 months will tell the story.
Speakers included Kyle Green from our preferred mortgage broker Green Mortgage Team—top 0.1% of all mortgage brokers in Canada, sharing insights into investing, inflation, and strategies through increased interest rates. Cam Good, president of Key Marketing on the best pre-sale opportunities and tools to take advantage of in the next 90 days. Charan Sethi, president of Tien Sher Group of Companies, a major success story hailing from Jalandhar who founded a top-tier development company with the goal of creating housing affordability, and revitalizing the Whalley District. One of the more interesting talks was given by Ozzie's son, Marc Jurock, dubbed the "Sci-fi real estate guy" sporting a shiny red suit, who in the last two years has been actively involved in studying the Thailand real estate market and what opportunities there may be. He hosts the Thailand Fun Real Estate Tour for anyone with the slightest interest in Thailand real estate investment. The tour spans 10 days in Bangkok, Pattaya & Phuket with local property experts and time set for culture, scenery and shopping.
MLA Canada, a real estate marketing and sales service also held an event for the launch of O2 in Metrotown. A packed room indicated the shock from higher rates may be wearing off and more liquidity coming back to the market. To combat the decline of purchasing power from increasing interest rates, developers have reduced deposit structures and expanded their incentive programs. The Vancouver real estate market is one of the most uniquely positioned markets in the world and possesses extremely strong fundamentals that should give buyers entering the market–even an uncertain one–great confidence. Prices have only ever declined for two consecutive years once in over 20 years. All other downturns have lasted less than a year. A price dip is typically followed by double-digit appreciation the next year. Historically, the Canadian housing market is robust and follows a pattern of price appreciation post downturns brought on by larger market forces. Presale homes in particular have captured the attention of investors, as the presale timeline of 1 to 3 years before completion allows buyers to begin building equity immediately, with the opportunity to lock in lower mortgage rates when they are expected to fall in the future.