Immigrants Drive GTA and Condo Sales

15 July 2009

A recent study by Scotiabank says that new immigrants will be an important driver of the housing industry, particularly in cities such as Toronto. The study was based on information from the MOST RECENT CENSUS in 2006 which is just now getting released! And it is now appearing in newspapers.

What's wrong with this picture? We are being fed new information based on three year old stats! If you asked the people on the street about the housing market in 2006 and earlier, we would have told you that immigrants were driving the market and to make your plans accordingly. Immigrants like to live downtown but they are also an important investor group in the condo market. For example our Company caters to the diverse ethnic make up of Toronto. Our agents speak over 35 different languages and we did not have have to wait until 2009 to figure this out.

But why is it that the public is fed information from so called experts who are generally the last to know. We do not have to wait until three months after the fact to find out how the economy is doing. Just talk to the people on the street to get real 'live time' information. We knew things were bad last fall, governments learned the facts in February and it is now July. Where are all the big public works projects? Still on the drawing boards. What else is new. Thank goodness the smart people are not relying on old media to get late news.