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SteelTown
Oct 2, 2009, 1:32 PM
Economic optimism drives Hamilton buying boom
No. 2 in Ontario for real-estate buys

October 02, 2009
Meredith Macleod
The Hamilton Spectator
http://www.thespec.com/News/Business/article/645970

A new entrepreneurial spirit that is breathing life into a once-battered economy is the reason Hamilton has become one of the province's top real estate bets.

The Real Estate Investment Network has named Hamilton the second-best place in Ontario to buy a house or invest in commercial property.

"Known formerly as a hard-working steel town, Hamilton has transformed itself into a diverse economy," says the Top Ontario Investment Towns report released today.

"An entrepreneurial spirit has entered the city as it puts the wheels in motion to create a major high-tech industrial park, in conjunction with growth at McMaster University. In fact, Hamilton's leadership has been very innovative in terms of its revitalization plans throughout the city."

Don Campbell, president of REIN and author of Real Estate Investing in Canada, said today's investors must be selective and should target cities with the greatest potential.

"The years of skyrocketing prices are finally over; however, over the long term, the economic fundamentals of these key regions will help their property values dramatically outperform other regions of the province."

Campbell told The Spectator that Hamilton is finding new life after serious shocks to its manufacturing heart.

"Some cities will lose their industry and sit in a corner and cry and never come back."

The city's economic development department is celebrating another win earlier this week.

Hamilton was ranked seventh among Canadian metropolitan areas in attracting new and expanded corporate facilities.

Site Selection Magazine, a North American publication aimed at corporate real estate executives, tallied 13 corporate projects between June 2008 and May 2009.

The rankings are based on projects per capita, investment per capita and job creation.

Neil Everson, the city's director of economic development and real estate, says the recognition these kinds of studies bring "goes a very long way to changing people's perception and image about us ... it gives credibility to our marketing efforts."

The REIN study analyzed 13 economic measures, including average income growth, population growth, job creation, affordability, economic diversification and infrastructure.

Researchers also visited the top cities, talked to local economic development staff and listened to conversations in coffee shops, Campbell says.

It's about the future, not the past and not even the present, he says.

"Every city has to get over its past reputation and these rankings are totally objective.

"We put out the first study 17 years ago and Barrie and Orillia were the best back then. People thought they were just cabins and cottages, and look at them now."

The last survey, in 2007, ranked Hamilton at fifth in Ontario and before that it was eighth.

A mix of good news and bad news is actually a good sign for a revitalizing city, Campbell said on the day after the latest bid to bring an NHL team to Hamilton fell short.

"When everything is positive, you know something is coming around the corner."



Top 10 investment towns

1. Kitchener/Waterloo/Cambridge

2. Hamilton

3. Simcoe Shores: Barrie/Orillia

4. Brampton

5. Durham Region: Whitby/Pickering/Ajax

6. Ottawa

7. Brantford

8. Toronto

9. Vaughan

10. Whitchurch-Stouffville

Source: Real Estate Investment Network, Top Ontario Investment Towns, 2009-2014


Top Canadian metro areas for corporate facility projects, June 2008-May 2009

Calgary 37

Vancouver 37

Toronto 34

London 19

Montreal 18

Quebec City 16

Hamilton 13

Wood Buffalo (Fort McMurray), Alta. 8

Saskatoon 6

Halifax 6

Source: Site Selection Magazine

markbarbera
Oct 2, 2009, 8:43 PM
What a refreshing article to read, given all the negative, doom-and-gloom postings that have been placed here over the past few weeks. Sometimes one cannot see the forest for the trees.

highwater
Oct 2, 2009, 9:14 PM
Ok then. Guess I'll pass on my 'housing bubble' post. ;)

adam
Oct 2, 2009, 9:29 PM
I'm surprised Ottawa didn't even make it on the list of metro areas... no Winnipeg either..?

bigguy1231
Oct 3, 2009, 5:31 AM
It's called speculation. When your at the bottom the speculators see that and know the only way to go now is up. Lets hope they make lots of money and soon.

holymoly
Oct 3, 2009, 12:41 PM
Not necessarily, when it comes to REIN's recommendations. REIN (and founder Don Campbell) focus primarily on a buy-and-hold strategy when it comes to real estate investment, not speculation and flipping.

adam
Oct 3, 2009, 2:14 PM
It's called speculation. When your at the bottom the speculators see that and know the only way to go now is up. Lets hope they make lots of money and soon.

Your comment suggests that Kitchener/Waterloo is at the absolute bottom of the barrel... and that Toronto is 8th from the bottom of the barrel... did you even read the rest of the list?

bigguy1231
Oct 4, 2009, 12:34 AM
Your comment suggests that Kitchener/Waterloo is at the absolute bottom of the barrel... and that Toronto is 8th from the bottom of the barrel... did you even read the rest of the list?

I was only referring to Hamilton. There's no other reason for people to invest in this city at the present time other than for speculation purposes.

adam
Oct 4, 2009, 3:34 AM
I'm getting tired of you taking every single post and turning it into something negative. if you aren't happy here, why don't you go somewhere else?

bornagainbiking
Oct 4, 2009, 11:11 AM
This is good news and maybe due to the reasonable prices and certain areas that draw a specific crowd (artists to James North).
What we shouldn't do is allow this news to generate greed or an opportunity to start jacking up the prices as this will just divert any chance at recovery to another town that is still cheap like St Catharines.
Or Toronto will wake up and concentrate on the areas that need new life.
Promote waterfront as have you seen the number of new highrises near the waterfront and skydome.......
Check out our Stoney Creek Mtn. Sure changed since 94 when I came to town.
Start at the North end and the Marina. :notacrook:
Biggie put some positive spin on it and encourage a think tank can-do approach. yeah team yeah

highwater
Oct 4, 2009, 1:56 PM
I was only referring to Hamilton. There's no other reason for people to invest in this city at the present time other than for speculation purposes.

This is a ridiculous assertion for which you have no evidence.

For some reason you see it as your purpose in life to come on this forum and counter the 'glee club' with your negativity. I guess you fancy yourself an independent-minded contrarian, but that would only be true if there were factual bases for your arguments, which 90% of the time there isn't. Too bad. I would welcome factual opposing viewpoints, but your knee-jerk contrarianism is just annoying and stale.

Blurr
Oct 4, 2009, 4:49 PM
I was only referring to Hamilton. There's no other reason for people to invest in this city at the present time other than for speculation purposes.

No, it is not speculation.

Hamiton's fastest growing (and biggest) industries are health care and education, which are both seen to have high growth in the future.

Yes in the 80's Hamilton was on the decline, but it is now most certainly a different outlook.

BrianE
Oct 5, 2009, 1:51 PM
I think Bigguy is half right, it's not that Hamilton is at the bottom it's that Toronto and the GTA is hyper extended past it's top. Investors (home buyers, speculators, people... whatever) can't find any value in Toronto real estate. $750 000 gets you a fixer upper in toronto, only suckers bite on those houses. The smart money goes where the value is, that's Hamilton.

This is a mix of good and bad news really. Good in that Hamilton is finally getting some recognition as a City with amazing housing stock. Bad in that it shows how over valued the rest of the GTA is and how prime it is for pull back.

bigguy1231
Oct 7, 2009, 6:04 AM
This is a ridiculous assertion for which you have no evidence.

For some reason you see it as your purpose in life to come on this forum and counter the 'glee club' with your negativity. I guess you fancy yourself an independent-minded contrarian, but that would only be true if there were factual bases for your arguments, which 90% of the time there isn't. Too bad. I would welcome factual opposing viewpoints, but your knee-jerk contrarianism is just annoying and stale.

No, it's called being realistic. I don't jump on bandwagons like alot of you here do. Facts and statistics are not always what they seem to be. Different people interpret them in different ways. Facts and statistics in most cases can be skewed to benefit either side of an arguement and there is always two sides to every arguement. I don't need to quote others or often inaccurate statistical analyses to make my point. I can formulate and articulate my own opinions without using other peoples words or research. I can think for myself. If you don't like my opinions too bad.

markbarbera
Oct 7, 2009, 11:25 AM
Isn't 'economic optimism' synonomous with 'speculation'? Why is speculation being treated like a bad word here? When driven by facts and identifiable trends, speculation can become a positive driving force for a city. Speculation is a bad thing only when it is not based on the reality of a situation. In the case of Hamilton, this speculation is based on actual growth and potential, and IMO will act as a conduit to further growth. And in the words of the almighty Martha Stewart, this is a good thing.

Zaz
Oct 7, 2009, 12:57 PM
I can formulate and articulate my own opinions without using other peoples words or research. I can think for myself. If you don't like my opinions too bad.

-- George W. Bush :tup: :haha:

highwater
Oct 7, 2009, 2:36 PM
I can formulate and articulate my own opinions without using other peoples words or research. I can think for myself. If you don't like my opinions too bad.

:haha:

"The fact that they looked it up in a book just shows that they don`t get the idea of truthiness at all. You don`t look up truthiness in a book, you look it up in your gut." - Stephen Colbert

highwater
Oct 7, 2009, 2:41 PM
Isn't 'economic optimism' synonomous with 'investment'? Why is investment being treated like a bad word here? When driven by facts and identifiable trends, investment can become a positive driving force for a city.

Fixed it for you.

markbarbera
Oct 7, 2009, 3:54 PM
:previous:
If it ain't broke, don't fix it.

Seriously, this 'fixed it for you' pattern of posting is not exactly an approach that fosters healthy discourse.

emge
Oct 7, 2009, 4:12 PM
Isn't 'economic optimism' synonomous with 'speculation'? Why is speculation being treated like a bad word here? When driven by facts and identifiable trends, speculation can become a positive driving force for a city. Speculation is a bad thing only when it is not based on the reality of a situation. In the case of Hamilton, this speculation is based on actual growth and potential, and IMO will act as a conduit to further growth. And in the words of the almighty Martha Stewart, this is a good thing.

Speculation alone inflates values without getting anything accomplished. If speculation becomes a catalyst for investment, fine.

But Hamilton's been hard done by the hundreds of "property speculators" who sit on properties hoping for their value to increase.

If this means they finally sell and investment gets done, fine. But speculation alone doesn't accomplish anything by itself, and may make it harder for those looking to invest, because it's more expensive when values are driven up.

adam
Oct 7, 2009, 7:14 PM
The denial of an NHL team actually convinced a few stagnant property owners to sell some property. This is the case with the new restaurant/bar at Bay and King at least. Now those properties can be developed and used.

SteelTown
Oct 13, 2009, 2:35 PM
Ontario's Top Investment Towns Named For 2009 – 2014
http://www.onlineprnews.com/news/8618-1255439072-ontarios-top-investment-towns-named-for-2009-2014.html

National Independent Real Estate Research Company Releases Findings of Ontario Economic Analysis

"Technology Triangle remains the Number One place to invest in Ontario"
 
Online PR News – 13-October-2009 – The Real Estate Investment Network’s (REIN™) release of Top Ontario Investment Towns analyzes the current and future prospects for real estate investment opportunities in Ontario. The 108 page report states that recent market correction provides buying opportunities for home owners and investors; however, only in select regions of the province.It identifies which areas will outperform in the coming decade and finds that the Kitchener Waterloo Cambridge area is the top region in Ontario in which to invest in real estate.

REIN™ is Canada's leading real estate research, education, and consulting organization for the last 17 years and its latest report is an analysis of key economic fundamentals for investors and home owners across North America. The in-depth research is based on the latest statistics, economic and social trends, and on-the-ground reports from REIN™'s research staff, members and industry professionals.

"Despite today's continuing market turmoil, our research indicates that there are more buying opportunities now than in the last few years, meaning more investment options and better yields" said report lead author Don R. Campbell, REIN™ President and author of the best-selling books Real Estate Investing in Canada and 97 Tips For Real Estate Investing.

"With today’s mixed market signals it is critical that investors and home-buyers complete that extra level of due diligence. We are no longer in the Tiger Woods years of real estate investing, where you won no matter what you bought. Now we get back to market reality where economic fundamentals, not speculation, will once again play the key role in whether a property increases or drops in value. The years of skyrocketing prices are finally over; however, over the long term the economic fundamentals of these key regions will help their property values dramatically outperform other regions of the province."

The Top Ontario Investment Towns report list:
1) Technology Triangle:Kitchener, Waterloo, Cambridge
2) Hamilton
3) Simcoe Shores:Barrie- Orillia
4) Brampton
5) Durham Region – Whitby, Pickering, and Ajax
6) Ottawa
7) Brantford
8) Toronto
9) Vaughan
10) Whitchurch-Stouffville


KWC on Top of the list
The communities of Kitchener, Waterloo, and Cambridge, known collectively as Canada’s Technology Triangle, are becoming known as a competitive area in which to build high-tech businesses. The area is so strong economically that the Real Estate Investment Network™ in its past research has dubbed it the "Economic Alberta of Ontario". This continues to prove true as the region was once again selected as the number-one investment town in Ontario. Within a 24 hours drive, the Technology Triangle has access to more than 60% of Canada’s population and 40% of the U.S. population. The reinvention of the region’s economy in the last few years has lead to investment in the information technology sector, a venture which has protected the Triangle from the steep increase in job losses experienced in many other Ontario communities. A commitment to infrastructure improvements and transportation projects will also help drive the economy and the real estate market in this area.

Breaking through its past, Hamilton jumps up with a bright future

Hamilton is poised to outperform most the province as it breaks through its past reputation and grabs a hold of the future. The continuing diversification of the City’s economy coupled with the increase in accessibility provided by the transportation improvements provides a strong economic base from which to work. Hamilton’s economy, in just a few short years will be unrecognizable when compared to the past decades. This renewal will help drive demand for real estate (rentals as well as ownership) in the City, especially in older neighborhoods going through transition.

Vaughan will benefit tremendously from increased housing values due to transportation projects

With the largest job growth in all of Canada between 2001 and 2006, the economy of Vaughan is becoming increasingly more diverse. Its extensive transportation network, available land, and the lowest commercial and industrial property taxes in the GTA continue to attract new businesses to the area. The City of Vaughan has become a preferred location for investment, leading the country’s cities in the per capita of building permits issued. Once all the region’s transportation and other infrastructure projects are completed (like the expansion of the TTC Spadina Line and the construction of the Vaughan Corporate Centre), Vaughan will be among the most accessible regions in the Greater Toronto Area; this combined with the fact that the City has the lowest commercial and industrial taxes in the GTA, will drive demand for both residential and commercial/industrial property.

Scarborough has the best opportunities in the City of Toronto
Toronto continues to be a major economic engine for Canada, as it continues to be the financial and head office capital of the country. This, combined with a strong growth of immigration to the city will help to provide an ongoing source of both rental and ownership demand in the housing market. Some regions of the city will prove to be provincial leaders, while other regions will lag sadly behind. Investors in the Toronto market must focus on areas with future potential, while at the same time ignoring past neighborhood reputations. One breakout region in coming years will be Scarborough. With home prices consistently below other regions of Toronto and a planned Rapid Transit expansion, the region will experience rapid growth.

A Complete Discussion of the Top Ontario Investment Towns Friday October 2, 2009

Don R. Campbell will be presenting the complete findings of this research at the International Centre in Mississauga at 7:00PM on Friday October 2, 2009 as part of the Real Estate Investment Network’s™ Investor Training weekend.For more information on this event, call the office at 888-824-7346 or email info@reincanada.com The full 102-page report is available to the media at no charge by contacting Allyssa Epp by phone at 888-824-7346 or email allyssa@reincanada.com and to members of the public for $59.97 from the REIN™ office by phone at 888-824-7346, email info@reincanada.com and at www.reincanada.com.

SteelTown
May 10, 2011, 7:09 PM
Hamilton Top Place to Invest in Ontario

Diversified economy responsible for top ranking

HAMILTON, ON, May 10 /CNW/ - Calgary based Real Estate Investment Network of Canada today ranked the City of Hamilton as the top location in which to invest in Ontario (2011-2015). As part of REIN's extensive assessment of Canada's top investment locations, Hamilton, along with its top Ontario ranking, was also named #3 in all of Canada.

"Known formerly as a hard-working steel town, the city has quickly shed this image in the eyes of potential investors - as indicated by the record breaking building permit values Hamilton has experienced in recent years," said REIN President Don Campbell. "The wheels have been set in motion to create a major high-tech industrial park in conjunction with growth at McMaster University, sparking an entrepreneurial spirit in the city."

The detailed REIN investment report identifies cities, towns and regions poised to outperform other regions of the province over the next 5 years. As part of the research into this Top Investment Cities list, REIN considered the following key fundamentals: Is the area's average income increasing faster than the provincial average? Is the area's population growing faster than the provincial average? Is the area creating jobs faster than the provincial average? Does the area have more than one major employer? Is the area in the RBC Affordability Index Hot Zone (25% to 39%)? Will the area benefit from an economic or real estate ripple effect? Has the political leadership created an economic growth atmosphere? Is the Economic Development Office progressive and helpful? Is the area's infrastructure being built to handle the expected growth? Are there any major transportation improvements in the works? Is the area attractive to Baby Boomers' lifestyle? Is there a short term problem occurring that is slated to disappear in the future? Is there a noted increase in labour and materials cost in the area?

"This is further proof that the diversification of Hamilton's economy is starting to pay great dividends," said the City of Hamilton's Economic Development Division Director Neil Everson. "We're thrilled with the ranking and encourage investors to contact us to learn more about one of Ontario's hottest economies."

http://www.newswire.ca/en/releases/archive/May2011/10/c3087.html

DC1983
May 10, 2011, 7:31 PM
Let's just hope that once these Investors reach Hamilton, they don't get blocked by our backwards-thinking Mayor, City Council & Staff ie: Trinity (incinerator ppl)

Duckyboy
May 11, 2011, 5:52 PM
Let's just hope that once these Investors reach Hamilton, they don't get blocked by our backwards-thinking Mayor, City Council & Staff ie: Trinity (incinerator ppl)

Bear in mind, "Property Investment" is not the same as "Buying a house to raise your family in". Many people invest in Hamilton because it's cheap (except for the property taxes) & there are LOTS of people willing to rent. I own 2 rental properties in the city (and live here, too), and I know a few other people who live outside the city who own properties as well. And their logic is exactly the same... (simplified, of course!)

Hamilton > no jobs > lots of people on welfare/assistance/disability > lots of low-income people > cannot afford to buy a home > must rent > therefore, as an investor, there are cheap house prices > chop them up into multi-unit houses > rent them out to people who will always have to rent for their entire lives AND the rent is guaranteed (for the most part) because they are being paid by the government.

The guys I know say they'll keep holding onto them as long as there is loads of people on social assistance... easy money. Sit back and collect the rent without any fear of them moving on to home ownership.

And the sad thing is this... that income is coming from Hamilton citizens (property tax which helps pay for the welfare cheques) and going out of the city (out-of-town owners spending their money in Oakville/Burlington/Toronto).

At least I'm keeping the money in town, but still... that is the "word on the street"!

Don't get me wrong, I love any kind of attention Hamilton gets, but let's keep our heads on straight here.

thistleclub
May 11, 2011, 7:13 PM
Yeah, these sort of stories always come off with a whiff of "Hamilton: Canada’s Capital of Can't-Miss Property Speculation" to them. (It's even an explicit selling point of the Hamilton Grand.) And of course we've seen how winningly that kind of thinking has served the city in the past.