Sneer all you want, Vancouver and Toronto: Windsor, Ontario’s recession ravaged rust-belt city is turning into the country’s hottest real estate play

Financial Post

George Guo is showing off one of his son’s Windsor rental properties, a two-bedroom house with a view of the river. The house is up for sale.

It’s small for a Windsor house, but positively roomy compared to much of what’s available on the Toronto rental market. It could definitely use some updating, but it has a large fenced yard, parking and two bathrooms. The floors are a little, well, slanted. But the roof is in good condition.

When Guo hears the exact same detached house in Toronto could sell for over a million dollars, he laughs and laughs and laughs. Guo’s son bought the house three years ago for $21,000 and is listing it for $49,900, standing to more than double his money, on top of the $650 in monthly rental income he’s been earning.

In other words, things have worked out exactly according to plan. In the depths…

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