Settling back in after the holidays can be challenging. Food, party, and credit card hangovers aside, January is always a time of reflection. It’s an opportunity to take stock of life and what we hope to achieve in the coming year. And what better way to start than by looking back on a few of the events that helped shape 2021. In no particular order, here are four defining moments that made headlines in our world.
THE RED-HOT REAL ESTATE MARKET
In a year filled with uncertainty and the unexpected, one thing that was all but promised was a soaring real estate market. The pandemic forced people around the world to take a hard look at their lives (and many didn’t like what they saw). Canadians left downtown, urban neighbourhoods for more space. Vancouver and Toronto continued their torrid price pace and new markets like Ottawa, Calgary, and London emerged as ‘one’s to watch.’
Top level Year End TRREB data vs previous year:
- 28% increase in the number of homes sold
- 8% increase in average price of homes
- 2% increase in listings; low supply of new listing
MEME STOCKS, CRYPTO, AND LOW INTEREST RATES
In normal years, investors have a wealth of investing options. Stocks, bonds, and high-interest savings accounts are all standard considerations. However, this year avoided any sense of normalcy like, well, the plague. We saw interest rates tumble to record lows which both incentivized taking on debt and disincentivized saving. We saw a major increase in volatility in the stock market as hobby traders and professional amateur investors went toe-to-toe with Wall Street. And we witnessed an explosion in the world of crypto currency that saw hundreds of new digital coins join the scene, as well as legitimate financial apps on which to trade them.
VACCINES
It’s obvious that the vaccine rollout played a colossal role in the previous year. And while its mere creation is a feat of scientific excellence that will be celebrated throughout history, it’s more what it meant to our lives. Vaccinations were the catalyst for a return to somewhat regular life. In-person events, shopping, school, and most importantly seeing loved ones was possible thanks to a coordinated tireless effort from scientists, health care professionals, and volunteers around the world.
DORR CELEBRATES 10 YEARS
In a historic year, we are proud to say we made history ourselves. 2021 marks Dorr Capital’s 10th anniversary in business. Back in 2011, when the global financial crisis was still recent and Canada’s big five were reevaluating their mortgage loan policies, a fresh-faced Brian Dorr launched a unique commercial real estate mortgage brokerage with a dream, a basement office, and an old coffee maker. He saw an opportunity to target land and construction-development with a focus on brokering deals between builder-developers and private banks. 10 years on and hundreds of millions of dollars later, Dorr Capital is a bustling hive of activity in North York. The little shop with big personality is now and has been thriving for the last decade, welcoming lots of new employees, exceeding previous sales, delivering unmatched value to clients on both sides of the deal, and innovating new financial products like the recently launched RealAlt® Investment, a Mortgage Fund Trust. We are proud of our growing team of employees, clients, and partners.
No one know what 2022 holds, but after powering through 2021, we’re confident we have the strength, savvy, and resilience to take it on.
