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UPDATES: Automatic Eviction, Inflation and Interest Rate

I hear you.


There’s so much support for automatic eviction when tenants don’t pay rent.


If you don’t know what I’m talking about, make sure you catch last week’s episode at the link below.


A couple months ago, a landlord in Ontario started a petition from a website called change.org.


He collected 30,000 signatures.


I signed that petition too.


The landlord has sent the petition to all Ontario MPPs, Member of Provincial Parliament but has not heard anything back from the government.


I guess that’s not really a surprise to anyone.


So I have been looking for a way to officially start a petition which can get us a response from the government.



And there is a way.


First, you need to create a petitioner’s account at the House of Commons.


I’ve done that.


Write and submit a draft.  Done.


Get support from 5 Canadian citizens, easy.


Now, I’m stuck on step 4.  


I need to get an authorization from a Member of Parliament.


This MP will be responsible for presenting the petition to the House of Commons after I get at least 500 signatures.


Once the petition is presented, the government is obligated to provide a response.


The challenge is, how can I find the one MP who’s going to support my idea?


I get 5 chances and each MP can have 1 month to think about whether they want to accept or reject my idea.  

So in the end I could have just wasted 5 months for nothing if they all reject me.


It is a tough battle.


Our government wants to win votes from renters and I need to find an MP who’s going to openly support landlords.


Maybe I should see which MP has the most properties?


I’m not giving up yet.


I’m trying to use my connections to see which MP I might have a chance with.


And I want to make an open invitation to invite you to work on this together.


If you have any insights or connections on which MP I should try, please connect with me directly.


There’s another thing I want to chat with you about in this video.


If you are subscribed to my Deal of the Week email, I’m sure you would have noticed the same thing too.


During the first 3 months of the year, you saw weekly emails from me with sellers struggling to close their pre-construction units.


They were losing all 20% deposits just to avoid lawsuits from developers.


You saw 1 bedroom deals that were $100,000 off.


These days, I’m getting phone calls from people asking me “Where are the deals?”.


Indeed, I haven’t been sending out Deal of the Week for the past 1 to 2 months.


I know in this market, buyers are only looking for deals, they are not interested if the seller is not losing money.


All of a sudden, desperate sellers are gone.


It is because we have already gone through the huge spike of pre-construction condo closings in downtown Toronto.


We added 5 more people to our team just to handle all the closings and rentals.


At one point, we had 120 active rental listings on the market.


Our lawyer’s assistant was telling me that this year is the busiest in her entire 35 year career.


It was that crazy, but the number of closings is definitely ramping down now.


Things are starting to stabilize and we are going to see tighter rental supply over the summer.


On the resale side of things, listings are starting to pile up with investors trying to offload because of the high interest rate.


In just 1.5 weeks, on June 5, we are going to hear the big announcement from the Bank of Canada.


Inflation has now slowed to only 2.7% in April.


Inflation is obviously under control but is that enough for the Bank of Canada to start cutting rates?


Money market bets are now 50:50.


We’ll find out very soon.


I hope the Bank of Canada is going to make a smart move this time.

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