The Burn Your Mortgage Podcast: 2024 Rental Market Outlook with Giacomo Ladas

Full  Transcript

Sean Cooper  

Hi, Giacomo, how are you doing today? It's great to have you on the podcast.

Giacomo Ladas  

I'm very well, Sean, thanks for having me on. I'm really happy to be here today.

Sean Cooper  

Yeah, it's great to speak with somebody like yourself that is so knowledgeable about the rental market and really interested to hear your perspective about what's going on. Because of that guy, there have been some interesting developments in 2023, as well as 2024. So far, and yeah, interested to hear your thoughts, because you seem like a pretty knowledgeable guy and all this stuff.

Giacomo Ladas  

Yeah, for sure. Like one of the big things you do. Everyone does not say, we're not just an online marketplace, where we connect private landlords to renters. But we also produce our national report that comes out every month. And what does it detail really well across the whole country, nationally, provincially and municipally? What's the cost of rent? What are the averages of rents across the country, and what are the differences month over month, year over year.

Giacomo Ladas  

 And this is really important, because it helps you know, policymakers make their decisions based on what asking rents are, and it also helps people who are looking into the rental market, understand what the costs are going for across the country and what the changes are. So we just put out our research for last month. And what was nice about that is it's kind of a summation of what we saw in 2023. So I'm happy to kind of discuss throughout the year, what we saw last month, and really kind of delve into the numbers, and what they mean for Canada and for the year to come. Sounds great.

Sean Cooper  

Thanks so much for your perspective there. And definitely, just speaking from my own firsthand experience, as a landlord, as well as a mortgage broker who helps a lot of real estate investors, your report is by far the most detailed and helpful one out there, because there's other sources like CMHC. But the problem is that our data is so outdated. 

Sean Cooper  

And I mean, the rental market can move pretty quickly. Like if I'm looking at stats from 12 months ago, it's really not helpful. So I have to say, your reports, like the fact that they're updated on a monthly basis, are very helpful. And if I was looking for current rental data, I definitely read your reports there. And I guess that is the reason why the media is always quoting your reports there. So yes, I really appreciate the reports that you put out.

Sean Cooper  

 And if you're not subscribed to the reports, I highly encourage you to sign up for them there. Because they're very helpful if you're thinking of buying a property or you're a real estate investor yourself, just to know what's going on in the various markets.

Giacomo Ladas  

Yeah, hey, thanks for the kind words, we really appreciate it and looking for these reports to get better as to hear the feedback from those who subscribe to it. So the more of you that can subscribe and let us know your thoughts, the more we can tailor it for people's individual needs. So I really appreciate that. And like I said, I'm really happy to go over what we saw last year. And what's to come for 2024.

Sean Cooper  

Sounds great. So let's jump right into it here. So as you mentioned, I'd be interested if you could talk just because 2823 just finished here. So if you could just basically look back on the rental market in 2023. And just let us know, what's happened there, understand from your last Rental Report for 2023, that the rent growth was stronger than expected last year, but it kind of slowed down in certain markets towards the end of the year. So yeah, if you could kind of give us a bit of a summary of what we saw in terms of 2023 from the landlord's perspective.

Giacomo Ladas  

Yeah, of course. So I've just seen rents for all residential property types in Canada reached a record high in December of 2023 of $2,170 a month, and this margin 8.6% increase from this time in 2022. And just to kind of put that in a little bit more perspective, if we're looking at a two year growth. So over the past two years, African rents in Canada have surged by about 22%, which equates to an average monthly increase of $390. More per month for rent, on average, has pointed to this time two years ago. So you know what we saw in 2023, we really saw explosive growth that kind of surpassed our expectations. 

Giacomo Ladas

And what this did was it led to unprecedented demand. We saw in 2023, that the average cost of rent increased by about 9%, just shy of 9%. And the year before that, it was 12%. So it actually moderated a little bit more beside 2022. However, the year before that in 2021, rent increased by only 4.6%. So we're about double what we were two years ago, and we're about 4% less than we saw in 2023. What was interesting though, is in 2023. In general, the surge spilled into markets that are traditionally known for greater affordability. speaking in August, we saw a record year over year rent growth in markets that are typically considered, quote unquote, more affordable. 

Giacomo Ladas  

For example, Calgary saw a 70% increase in rent while Montreal 16% annualized growth and market rents, which is much higher than we expected in this rapid growth. But only last week. For a quarter before it began to cool down, as you mentioned, but what's happening is people are not really able to afford rents in areas like Ontario and BC and we're seeing really high interprovincial migration. So we're seeing 10s of 1000s of people leave Ontario and are going to the Maritimes, or they're going to Alberta in search for more affordable rents. And as that happens, it increases demand. And as any commodity when demand increases, and supply can meet it, the cost of that demand is going to go up. 

Giacomo Ladas  

And that's why we saw the pressure on the Calgary market specifically, when we sample 17,000 People moved to Alberta as a whole, between July and September 2023. Majority of that are people going right to Calgary as their final destination is to search for more affordable rents. And to put them more into context, we're going to look at our rent report. So as mentioned, the average rent right now in Canada is $2,178 A month. So let's just say 2200 bucks. In Calgary, right now, the average rent for a one bedroom is around $1,700 a month. So you kind of say in general, you're gonna save four to $500 by going somewhere like Calgary. 

Giacomo Ladas  

That's why we're seeing record increases in rent. And in areas like that, because you know, people have really no other option, but to search for more affordable rents. So we can't expect that to continue until we see a little bit more balancing of supply and demand. Now,

Sean Cooper  

Thanks so much for your insight, it sounds like you really know your stuff there. And with the trend of work from home, it really gives people the freedom to be able to move to more affordable places, if they're finding it really tough, especially with the cost of living there. 

Giacomo Ladas  

Yeah, that did happen. And what was interesting is That's exactly it. And you know, anecdotally, myself and CO what happened, you didn't have to work in the office. So you can kind of just be comfortable in your apartment and not have to live in the downtown Metro corps. But what's happening now is people are coming back, we're seeing that demand increase in those Metro cores, again, when people were really excited about it there for a while. So we're kind of seeing a little bit of, for lack of better term, a return to normal as people are coming back to the office. So we're going to be monitoring that in 2024, to see what happens in the future. 

Sean Cooper  

Definitely a stark contrast from 2021, the rents kind of crashed there, but glad that we're kind of recovering from that. Yes, point in time there. That's for sure. And maybe you can talk a bit about the factors behind this rent increase here. Like in your last rent report from December, it was talking about some of the factors like non permanent residents, resilient economy, other factors like that there, I'm sure record level of immigration is playing into it there. 

Sean Cooper  

But if you could talk a bit about the underlying factors, which are leading to these big rent increases in 2023, just so that people can have a bit of a better understanding that would be great. 

Giacomo Ladas  

Yeah, that's a great question. I'm happy to go into that. Because, as I like to say, the price increases that we're seeing is the symptom, it's not the underlying issue. In Canada, specifically, we've seen a really significant period of population growth, inflation, and a low production of new housing. And on top of that the purpose built rental market has been so under supplied for decades, where we haven't really been building at the rate that we need. 

Giacomo Ladas  

So when you have population growth, when you have high inflation and low production, it creates a real burden on the rental housing market. And as a result, we have more people who are competing for rentals. And who rents now, right, that's a little bit different than what we may have thought. You know, when I first was getting into this industry, I assumed that most renters were those who are moving out of their parents for the first time, they're going to school and they're starting to undergrad, or maybe they're moving in with a significant other. It's not really the case anymore. Renters are not just 18 year olds who are moving out, but they are couples with good incomes and stable jobs and kids. 

Giacomo Ladas  

They have good income, and they're able to afford these more premium rents that kind of come back to what you're saying about Canada's population. It's interesting because the BMO study, which I read this year, suggested that for every 1% that Canada's population increases, housing prices typically increase by roughly about 3%. Well, Canada's population in 2022 alone increased by 2.7%. Now the average that we usually see is about one and a half. So yes, we did see a large influx in population growth. But what's interesting about that is that we're seeing a huge spike now in interprovincial migration. 

Giacomo Ladas  

So yes, we're seeing tons of people come into the country, but we're now seeing people go to different provinces and increase their population. Right. So it's interesting, because the good thing about these boards and podcasts like yourself is that people are listening in their understanding that there is a burden on the rental housing market. And we're seeing this right. We are now going to put a cap on student visas that they're going to allow so there's going to be less international students coming to this country, which is not really what we want. We want to welcome as many people as we can. 

Giacomo Ladas  

But when there's not enough housing, that's when you really get to the crisis that we're seeing right Now, international students' study permits issued in Canada increased by 75%. In the last five years, according to the RCC, right, we have over half a million. Yeah, we had a record of over half a million permits issued just last year alone. So it's just getting a little bit too much for the supply that we're seeing, hey, if and if we're matching the supply, that's great. But until we start doing that, it's going to really put a burden on the housing market. 

Giacomo Ladas  

So yes, there's a whole bunch of factors. And I'm happy to get into this as well. But what we're seeing in the rental market is really hand in hand with the housing market as well, and what's going on there. And I'm happy to kind of discuss how the housing ownership market really affects the rentals as well, if we're interested.

Sean Cooper  

Sure. If you want to talk about that for a couple of minutes here, that would be great, because certainly, I'm not an economist myself, but I'm thinking with the click of home prices, appreciating over the last decade as much as they did here. It's like you said there earlier that it's not just like the people moving out from home who are renting the places like people with good incomes are deciding to rent because maybe they can't just they're not able to come up with that minimum downpayment, and then they need more time to save. So I would imagine that the fact that some people need more time to save the down payment, because of the higher home prices is a main reason we're seeing more competition in the rental market. I would imagine that's at play as well. 

Giacomo Ladas  

Yeah, like what's happening in the rental market is not like renters aren't on one side and one motors on the other. It's kind of a combined thing that we're seeing. So basically, what's happening is, there's a supply and demand issue, everything that we're seeing with the price increases, because there's not enough supply for the demand. So how do we create more supply? Well, typically what would happen is people would rent for a while, and then they would graduate into homeownership. 

Giacomo Ladas  

However, right now with interest rates the way they are, and the price of housing right now, people are reluctant, everyone's waiting for an impending crash, or interest rates to go down. And until that happens, people are not getting out of the rentals. Anecdotally, myself, I'd love to get into the homeownership market. But there seems to be no real sign right now that this is the time to go, the trades are really high. And the cost of homes haven't, even though they have come down, they're still way higher than they were pre pandemic levels. So until we start seeing that turnover in the rental market, people are moving out of their units and going into homeownership. We're going to see a bottleneck of the supply issue continue. 

Giacomo Ladas  

And it's interesting as well, because what's happening in Toronto seems to be like the epicenter of Canada, and what happens in Toronto kind of permeates throughout the country. But 1/3 of total households in Canada are renters. A third, it's about 5 million households. And the rate of which that's growing is twice as fast as homeownership now and to put that more perspective, half of Torontonians are renters. But almost 90% of all apartment construction in Toronto over the past two decades, have been condos. So the supply of verbal rentals has been so low, that when people get a place, they're not moving out. 

Giacomo Ladas  

And they can blame them, but the interest rates the way they are and what housing prices are, there's no turnover. And when there's no turnover, there's no supply, when there's no supply, the cost for what is available, skyrockets, what we've seen now.

Sean Cooper  

So there are definitely a lot of factors that play and the fleece that sounds like if you're thinking of buying investment property right now sounds like a good opportunity to help provide not only some income, but help provide a property for people in desperate need of rental units there. And I mean, interest rates are a bit of a double edged sword, like the main driver of home prices are interest rates. So with interest rates being higher than bees, home prices are lower. So I mean, definitely there's an advantage of getting in now. But of course, you have to be able to come up with the downpayment to do that.

Giacomo Ladas  

Yeah, and in conjunction with that, too, like, you know, we obviously want to create more supply and Canada is doing a really good job. Russia, new provincial rental starts, completions are higher than the worst since the 70s. But interest rates are really high. The cost of labor is really high and the cost of supplies is really high. So to build purpose built rentals, it's very expensive. That's why you see the federal government's new initiative to remove HST on permissible rentals for developers in hopes that it'll bring the cost down to get the supply into the market.

Giacomo Ladas  

 So yes, is it a good time to start investing in proposal rentals? I mean, of course, because people are really chomping at the bit to find these places, when there's new units available to usually go really quick. And we're seeing markets like Calgary specifically, or the Maritimes or Montreal see the fastest growing rates and rent. And we do kind of continue to see that happening. Because the cost right now in areas like Toronto and BC are so high. People are now prioritizing affordability Over accessibility. 

Giacomo Ladas  

So the only thing that people really care about right now is what's more affordable, and they're willing to go to Calgary, they're willing to go to the Maritimes even though it wasn't their first choice. So yes, if you want to get into the market and become a landlord, and you want it to bring some supply into the market, the good thing is the rentals.ca National Report will tell you what he's asking rents on average are going for. So you can kind of gauge if I have some units available, what are they going for? 

Giacomo Ladas  

And what kind of increases can I expect? I mean, this is a good time, right? This is the time where people need housing more than ever right now. So we strongly urge those who are looking to go into the market to really look at these reports and see what you can kind of expect to get for rent. And then of course, know your local laws of what rent control is, and what increases you can charge for rent year over year, because that will obviously play a major factor in it. No

Sean Cooper  

great tips. And certainly, like I said earlier, a lot better than relying on rental data that's a year old from CMHC. There. So that will be the last time I say that. I don't want to sound like a broken record there. 

Giacomo Ladas  

Oh, no. and just like little background, too, but like the data we use, like so we work in conjunction with urbanization. And for those urbanization is a real estate research firm, and they provide market research, they do a really good job in providing dead market analysis and consulting services. And they've done this since 1981. So our data, it's worked with data experts and research firms. And we always try to account for outliers as well. Like, for example, we have properties that are listed for greater than $5,000 per month, or maybe we have some that are listed for less than 500 hours per month. We'll take that into account, because what will happen is that will affect the averages, right? 

Giacomo Ladas  

So we try to make sure that random outliers don't affect our data. And they're really presenting a good average rent that covers what people are actually being paid and what actual listings are being put. So yeah, it's a really good conduction effort between residency and urbanization.

Sean Cooper  

Yes, I have it and receive it every month and have it bookmarked. So definitely be sure to sign up if you haven't already. So perfect. Let's talk a bit about how the start of 2024 here and what's going on in the rental market. Like being a landlord myself, I've experienced this firsthand, owning a rental property here in Toronto. There seems to be a slowdown in the rental market. Your report mentions that it's happening in Toronto, and Vancouver. 

Sean Cooper  

So maybe you can just talk a bit about what's going on in those markets. Because rents can't increase indefinitely. Like there has to be a ceiling, people. People aren't getting huge salary increases or anything like that. So yeah, maybe you could just talk about what's going on specifically. Yeah, those markets.

Giacomo Ladas  

That's an interesting point. And to be completely honest, I was surprised when I saw the data to see what's happening in the last couple of months, but areas like Vancouver and Toronto, Brampton Burnaby BC, where she has seen a decrease in rent month over month. There's a lot of factors that play into what we're expecting this time of year, you know, the winter months. There's usually less demand for those areas where people are not moving, like there's less listings available, and there's less demand for those areas.

Sean Cooper  

Yeah, that makes sense. I mean, I wouldn't want to be moving in the winter unless I absolutely had to.

Giacomo Ladas  

Exactly. And on top of that. Vancouver is $3,000 a month on average to rent, right for permissible rental. How much higher can that go where people are willing to pay? Dancers? It can't go there. Right. So what's happening in areas that are usually at the top of our lists, areas like Vancouver, Burnaby, Toronto, Mississauga, North York, people are not able to really afford these rents at the same rate, there's less listings, there's less interest in those areas. And there's less people looking to go to areas where rent is more affordable. 

Giacomo Ladas  

And it does make sense. But to see that like, hey, actually Vancouver in December, rent was almost 6%, less than it was in November. Kind of interesting. Toronto's both 3% cheaper. So rents are actually going down a little bit in these areas. Seasonality plays a factor, the cost plays a factor. But yeah, it's interesting how those markets are reflecting what we're seeing. And, you know, I'm happy to also kind of go into what we expect in 2024. Because, you know, without a crystal ball, we have some predictions that might happen as well. And I think that'd be kind of a nice way to tie it all together.

Sean Cooper  

Yeah. That'd be great. And I'm just curious, definitely, you could jump into the predictions for 2024. But before you did that, is it normal to have these seasonal adjustments in Toronto and Vancouver? Is that to be expected? Like what is the housing market? The most popular time is spring in the fall in Dubai? So I'm just curious, like, was this to be expected? Or would you say that this is a more like, bigger slowdown than in prior years?

Giacomo Ladas  

You know, it's definitely a bigger slowdown. Now, is it to be expected? Yes. Like most people, they don't want to move in the winter. And most people don't want to list their units in the winter, right? Like a developer wants to have their building ready by the springtime, right? At that busy spring, summer rental season and right before students have to start their semesters, that's when they want the units to be available. So typically this time of year, we do see less listings, less units coming to market, but also less people looking to rent. So we do kind of expect a little bit of softening of demand. However, when you look across the country that's only happening in certain areas, right. And in other countries, it's going up. 

Giacomo Ladas  

So it was to be expected. But I don't think it was at this level where we saw 6% Decrease in rent month over month in Vancouver, right? So they are outliers. But seasonality. This is kind of what's been expected. And it makes sense, right? Who wants to move in the dead of winter, right? You know, what developer wants to showcase their properties and amenities? When there's horrible weather outside, people can't see these facilities in the way they want to right. So we do expect the demand to decrease. But honestly, the cost is so high right now for these apartments that people are just moving and going into different areas of the country and searching for more affordable rents. No,

Sean Cooper  

That makes sense. Thanks so much for your insight. Yes, as you mentioned a few moments ago, it would be great to get your perspective on where you see rents going in 2020 for your latest rent, monthly rent report, there talks about projected growth for 24 and continued under supply there. So yeah, we were able to talk a bit about growth expectations and what you see happening across major markets across Canada, I mean, have listeners all across the country from Toronto to Vancouver, as well as in smaller markets like Calgary and Saskatoon. So yeah, any insight you're able to share? I mean, I know you don't have a crystal ball or anything like that. But it sounds like you have a lot of great data there. So I'm curious to hear what you expect for 2024.

Giacomo Ladas  

Yeah, and a lot of that comes from me just talking to developers as well and seeing what's on their horizon. So as we begin 2020, the Canadian rental market stands at a crossroads really, like we're balancing unprecedented demand with huge challenges of supply, affordability and sustainability, right. Our governments at all levels, for lack of a better term, they've kind of woken up to this issue that's affecting their communities. And they've started pushing for meaningful changes, such as removing HST for resale rentals, and the trajectory that we're currently traveling out that we may see challenges in the new year. 

Giacomo Ladas  

But when we look into the future, right, it's going to be interesting, because we do expect that the strong demand will persist. However, if the economy slows down a little bit, you will see a reduction in non-permanent residence, and we'll see an increase in home buying activity with declining interest rates. That could be helpful, because that could increase the supply in the markets as demand softens. Right. And it's not all bad news, right? There are many ongoing projects, which are going to hit the market in 2024, across the country that ensures that supply of new units continues to grow. 

Giacomo Ladas  

And you can't turn on the TV and listen to any political conversations all without this being the number one issue, right? This is hitting policymakers and they are trying to increase supply. What's gonna be interesting, as the later parts of the year of 2024, we probably will see a decline as projects are completed and reduced construction starts become more visible. So it's gonna be interesting. What we're really waiting on is what happens to the economy. What happens to home buying activity? Well, interest rates go down, if interest rates go down, that means borrowing costs are much more feasible for developers, and more people are going to be buying homes. So it's going to be interesting to see what happens. 

Giacomo Ladas  

What we are kind of anticipating is rent growth is going to converge towards a five year average of about 5% increase, as I mentioned, at the top of our conversation, and by 2021, rent will increase by 4.6%, then it skyrocketed to 12%, then it continued last year to about 9%. But we're hoping that that trend continues to decrease. And then if we look at a five year trend, it's going to be about a 5% increase. So that's what we're looking for. It's hard to have a crystal ball, but we are seeing that projects are going to be ongoing, they're gonna hit the market. And then if interest rates soften, that will be a huge indicator to see what's going to happen if housing prices become more affordable. And then borrowing costs for developers can soften a little bit as well.

Sean Cooper  

Thanks so much for your insight there. And yeah, I'm not going to hold you to this 5% number because I mean, even the smartest economists at the big banks find it difficult enough to predict what the Bank of Canada is going to do with interest rates. There's like the global economy's so inter connected, like issues in the Red Sea with ships getting through can cause inflation and the rest of the world there. So definitely a lot of factors at play. But yeah, thanks for sharing the great insight you have in the great data in terms of what you are seeing and expect for the rents in 2024. 

Sean Cooper  

And finally, I just wanted to since you have so much great data here. I just wanted to get your thoughts, like imagine that you were planning to buy an investment property here in 2024. and it didn't really matter to like, basically, you're open to buying it anywhere in Canada, any province in Canada, like where would you say, are there some good places to invest when it comes to rent rates? And I know that you don't come out with your own data on the home prices, but just based on what you know, like, what would you say, if you were looking to buy investment property? Where do you say is a good place to buy? Like just reading through the last few reports here? I just keep hearing Alberta coming up time and time again. So I would imagine that's a good place. But yeah, if you're buying a place, where would you say are some places that you consider buying?

Giacomo Ladas  

Yeah, for sure. So Alberta has witnessed the fastest growth in car rentals that we've almost ever seen. Right? It's increased by 1516 70%. A year. Right? So we do expect that to continue as people are searching for more affordable rents. So if you're asking me that question there, I would assume that Alberta is going to lead rent growth for the foreseeable future. As mentioned before, rents are four or five $600, less on average, than the rest of Canada. 

Giacomo Ladas  

So if you have a place in Alberta, people are coming, people are leaving BC, Ontario, in search for more affordable rents. Now, to go back to BC and Ontario, they're always going to be at the top of our list for most premium mass rents, right? Average rents, it's always going to be BC and Vancouver, because Vancouver has a national draw, right? Everybody wants to be in Vancouver, it has a national presence, where people are always going to want to go there. And if you have supply, it will be filled. Because much like Toronto, these are not just the most important cities in Canada, but they're world renowned. 

Giacomo Ladas  

So there's always going to be really high demand in areas like Vancouver and Toronto, and that's why we always see them top our list of the most expensive rents. Now, contrary to that, Alberta, Quebec, the Maritimes, rents are cheaper, you might not be able to get that same premium price. However, if this continues, the way that I suspect, those areas will have fast scoring Renske because people can't afford Ontario and BC anymore, for the most part. So if you are looking for somewhere to invest, now, I would assume that Alberta is going to continue with the fastest growing rents. And I would assume that Quebec in the Maritimes will as well. 

Giacomo Ladas  

Obviously, you can afford something and Vancouver and Toronto, you take it because those are gonna be the most premium brands, but layers across the country that are a little more affordable, the rents are going to go up, which means that you're going to be making a little bit more money there. So I think that's kind of a summary of what we're seeing. If I suspect that Alberta rents were going to go down, I wouldn't suggest that right? But it's going to continue to go up because people have no other choice but to go to that area.

Sean Cooper  

Oh, thanks so much for sharing your insight. And I mean, what I really like about Alberta is the home prices are still a lot more affordable than Ontario and BC. So if you're able to still get decent rents, you may not get the same rents that you're getting in Ontario and BC. But if you're still able to earn decent rents, and you're paying half as much for the property and your mortgage payments are going to be half as much, the cash flow situation looks a lot better. 

Sean Cooper  

So that's the fact that there's such a high rent control there. And again, I'm not an expert in this, but the My understanding is you're able to raise the rent a lot more as a landlord there in Alberta. So I mean, me personally, that Alberta does seem like an attractive investment market if I was going to buy a property.

Giacomo Ladas  

Yeah, for sure. Absolutely. No pushback on that at all. Okay, perfect.

Sean Cooper  

Well, it's been a pleasure speaking with you today and getting all this insight on the rental market really learned a lot. I mean, I follow this myself, but definitely, this is great to have you on. And it'd be great to have you on the podcast again in like six months or years time, because this is really great to have check in with what's going on. But yeah, thanks so much for being on the podcast today, Giacomo, and it was great chatting with you and getting all of your helpful data and insight.

Giacomo Ladas  

Yeah, Shawn, thanks so much for having me. And the good thing about this industry, and these reports is that there's always new stories to tell. And six months from now, we'll probably have a whole new narrative and whole new outlook on what things are gonna look like. It's gonna be a very interesting year, there's going to be a lot of changes that could affect the markets in tremendous ways. So in six months, we want to hop on and see what's going on in the rental market, specifically purpose built apartments and condos. I'm happy to do so. 

Giacomo Ladas  

And for those who are listening, all you have to do is visit rentals.ca. Right at the top, you will see a report where you can view the second week of every month. And then we also have all the historical reports on our site as well. So you can kind of see what's been going on month over month over the past year or two. So now once again, thanks for having me on. I really appreciate the kind words and I look forward to hearing your future podcasts.

Sean Cooper  

Okay, sounds great. Thanks so much. And I'll certainly be inviting you back in the future.

Giacomo Ladas  

You got it man, thank you!

Sean Cooper  

Thanks for listening to another episode of the Burn Your Mortgage podcast. Besides being a podcast host, I’m also an independent mortgage broker. If you or anyone you know, family, friends, co workers or neighbors could ever use any unbiased mortgage advice or a second opinion, feel free to reach out. Email me at sean@burnyourmortgage.ca or call or text me at 647-867-3711 for a free mortgage consultation.

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