Andrew la Fleur talks foreign buyers and the hot market on CBC Radio
Andrew la Fleur heads down to CBC headquarters for an interview on CBC Radio to talk about the Toronto condo market’s hot streak, foreign buyers, and more.
Andrew: Hey, how’s it going? Andrew here and I just got asked to be interviewed on CBC Radio, talk about the market, what’s happening, foreign buyers, will this crazy hot streak that we’re on keep up, why are people selling, things like that. We’ll see how the interview goes and then we’ll catch up with you on the other side. [Music 00:00:19]
Hi again. I’m back. I just finished up the interview there on the radio with CBC. They wanted to talk about the usual subjects, foreign buyers, what’s happening in the market, why is the market so hot. One interesting topic that came up was this idea of trying to time the market. Again, my advice to you, the conduit investor if you’re out there, is do not try to time the market. It’s impossible to time the market. Anyone who’s ever tried to time the market has failed. That’s a 100 percent guarantee. No one has a crystal ball and knows exactly what’s going to happen, so what do we do as conduit investors? We focus on buying quality assets and we hold them for the long term. When you do that, you’re always going to do well. When you’re trying to time with buying and selling, timing the market to buy at the trough and sell at the peak is never going to work out well for you. Focus on buying quality assets and holding them for the long term.
Funny enough, when I just sat down here at this table, look at publication is sitting there on this table with me, the new condo guide. Real estate is a subject that is on everyone’s minds and everyone’s lips. Everyone’s talking about it in the market. It’s crazy hot right now, but this is not normal. The market will return to normal in the short term. I don’t know if it’s three months, six months, twelve months away, but sometime in the short term we will see a return to normal. Prices will not continue escalating at 33 percent a year like this. You don’t want to be buying with that in mind. You want to be buying quality assets, cash flowing assets that are going to give you a great return over the long run.
Okay, I hope you enjoyed this little video and this little day in life of this interview today. Until the next time, we’ll see you soon. [Music 00:02:26]