Hey everyone, 

Just wanted to send this message to few of the people i've talking with.  The reason why you received this video is because we've talked about real estate in one way or another.  

So this message is to outline some new things that came across the real estate industry thats pretty much brand new to 2023.  

First, the change of strata bylaws on two major sections:
1. stratas are not allowed to restrict the amount of rentals in a complex and
2. stratas are now not allowed to have age restrictions

This has now been in effect for the last month.

Now, at the start of 2023, there were two additional changes which include:

1. A home buyers recission period of 3 business days.  This was pretty much a reaction to to how many no subject offers were thrown around in the market. This new ruling i dont think will effect many people as a buyer, but what it will do is regulate the quality offers being presented in the marketplace

and 2.  A ban on foreign buyers take in effect now for the next two years, with few exceptions of course.  

So, the one thing that this has in common is that, even despite the interest rates changing, these regulations are making options better for buyers, whether its increasing the amount of inventory so you're not so restricted on buying a property based on their bylaws, or reducing the buyer pools that eliminates foreign buyers.  All these may actualy be helpful for buyers that are looking for those entry level properties. 

Anyways, this is just a brief summary to keep you updated.  Please don't hesitate to reach out if you have further questions

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