ON THE EDGE
Is it sunrise or sunset? The start of a new day, or time to wind down for the night? Initially I was certain it was a beautiful sunset; but the credits on this stock image claim that it’s a sunrise. Either way, it’s quite beautiful!
We’re clearly not poets, but the image is a good one for this New Year’s Eve. Why? Well, what will each of us celebrate? The year that was, or the year to come? Sunset or sunrise, or both!
It feels like the world of Canadian real estate investing was turned on its head in 2022. Cheap money ended abruptly, foreign buyers had their last chance (with exceptions for 2023/24), and rents sky-rocketed. Even taxes are changing, again, for real estate investments. Whether any of these changes is good or bad really depends on each investor’s perspective.
In our world, there are many things to be grateful for in 2022. Finishing a large build project, completing the exit of a Joint Venture, and problem solving for a couple of Rent to Own clients are at the top of our list. With one young adult on a gap year in New Zealand, and another teenager completing high school soon, it’s a season of change in our house anyways. 2022’s challenges have been wrestled to the ground—bring on the next level!
2023 looks like it will be one for that expression, “may you live in interesting times.” As we look forward, it appears that our adaptability will continue to determine whether we thrive or struggle. Like so many of our colleagues, we have both exciting new projects in the early stages, and a few worries or challenges yet to solve. We will continue to keep it positive, and keep it real.
So tomorrow night, as we sit on the edge, we are of two minds. We will say a fond farewell to the year that was! And we will watch the birth of a new year with anticipation for the opportunities to come. We will be grateful for all we learned in 2022, and hopeful for the “good luck” we are about to create for ourselves and our colleagues.
Be safe, be well, and Happy New Year to all!
