Current Economic Stats

[Seankm21]

Good morning. I have a question. If we are trying to follow the gold score card for an area that you are not intimately familiar with and are looking to see if the town or city measures up for possible future investment, where do you get current information? I have been on about 10 -15 different city/county/regional website looking for information and on just about all of the websites the information on population, econimc development stats, rental market, housing market the information is at least 2 years old if not more? How can you make informed decisions on wheteher or not to investigate possible opportunities with outdated information. Even if you call the municiple office they try and direct you to the website for that information or are not sure of where to direct you to get current information. Has anyone else encountered this and how do you get around it. Thanks,

Sean McGleish

 

[DonCampbell]

A great place to start is through the 100 page research and analysis the REIN Team has put together for the Top Investment Cities in AB, BC & ON. Not only a good place to get information, but also a great place to see the sources of info that the team uses (most sources are referenced).



Some cities use Stats Canada census, while others do annual surveys on jobs, incomes etc. Sadly , many cities do not have the budget (or inclination) to keep up to date. Economic Development Officers are the most up to date. CMHC and Provincial sites provide good up to date housing stats (more so than local gov't)



Another great place is right here, contacting fellow REIN Members who are investing in your target area. Use the search function on this site to uncover the latest discussions, research, articles and issues for a particular area.



Information is not often easy to find, and many beginning investors give up on the hunt and then just start guessing & hoping (speculating).... I suggest that the extra steps you are taking will definitely make a huge difference in your bottom line. Keep digging and don't rely solely on government site, tap into your network.

 

[Seankm21]

Thanks for the info. I have looked at the Top Investment Cities. I was looking at a couple of areas that were not referenced there. I did not think about looking at the sources of the stats. I will do that as well. I will try the Economic Development Officers, CHMC and provincial sites.

I thought I might get some information here.

Sean McGleish