Exactly. Not sure why people got Tiff Macklens comments so wrong. He said we want inflation at 2 percent and that means rate hikes are not out of the question. People got out of this rate cuts are coming 🤪 😜 wtf
@@rightcondosit has already dropped close to or around 30% from peak Feb ‘22. I was asking the OP if they meant prices are going to be 35% of what they are today which is like super extreme. Prices so far this year are stable.
My prediction is that people will make predictions. Some will be right, and will retroactively justify their decision, proving their brilliance by ignoring the facts that pointed to an alternative conclusion. Money nerds will worship the person who guessed right. That’s my prediction and I have been right every time.
It's all about affordability, the market now is completely unaffordable for investors and first time buyers. That's not going to change with a small boc cut
That’s right, but what changes is consumer perception and confidence. It’s too early to tell and yes it’s the spring market, but there are lots of happenings right now with multiple offers on homes throughout GTA and even outside the GTA. Forget about the Mississauga one with 85 offers on it. Peterborough had a semi with 13 offers and likely sold for $100k over asking. Or more. What do you think will happen when the first fractional 0.25 cut happens in May/June this year?
@johnderperez nothing. The central bank starts cutting when the economy is trending weaker. Almost always a recession follows and RE prices continue tanking. Enjoy.
Confidence does not equal ability to buy. One home with 85 offers that could have been a coordinated effort to stoke FOMO does not equal a trend. $100k over asking may be $200k less then the home would have fetched last year. 5% policy rate is not high, more normal. Only the inexperienced, and unrealistic would ever think that historic decimal point policy rates would be a trend or will even repeat in their lifetime. Whatever the buyer can afford is what can be paid. If price is not congruent with that, house sits on market. More examples of that than 85 offers. @@johnderperez
@@johnderperez yea I know.. cause people can only pay certain fixed amount per month and thus the prices WILL HAVE TO come down cause interest rates won't by much.
Why doesn't someone with no debt and savings in money market or bonds......of course they like rates higher. Low negative rates are for degenerate real estate gamblers.
I don’t disagree about what ultra low rates and cheap money for long time did for specs. For non-spec folk… it caused suffering. And it’s still being felt. Good for debt free folk - but they’re still affected by the way rates impact businesses and thus pricing of goods and services. After all businesses also service loans.
@johnderperez sure inflation but if wages keep up and savings have a positive real return.....they are better off. 5% isn't historically high...it seemed to work fine for a long time previously. The problem is household debt.
Rates won't drop for over 15 years. Baby boomers are retiring, and they will take their capital with them. They own 80% of the stocks as well. Inflation in canada will continue as well
Inflation will continue, and higher inflation may be the new reality. But rates will drop. By how much? Not to near zero unless something catastrophic happens. Maybe 0.25 to 0.50 drop in 2024?
it is so ''nothing new'' just like watching two boring people with nothing better to do then listen to the sounds of themselves. try doing something good for the community.
Not only no cuts, but if inflation keeps edging up, more hikes! Let's go!
Exactly. Not sure why people got Tiff Macklens comments so wrong. He said we want inflation at 2 percent and that means rate hikes are not out of the question. People got out of this rate cuts are coming 🤪 😜 wtf
LOL let’s goooooooo (for cuts) haha thanks for the comment.
35% home price coming. Listen to Jon Flynn. Only realtor who has been telling the truth.
Yes I fallow him he is the best
35% home price - what does that mean? We’ve already seen a drop of almost 30% from peak Feb 22. You’re calling for a 65% drop?
Prices are going to decline further yes. 35% is an absurd projection. No chance housing comes down this much. 10% at most IMO
@@rightcondosit has already dropped close to or around 30% from peak Feb ‘22. I was asking the OP if they meant prices are going to be 35% of what they are today which is like super extreme. Prices so far this year are stable.
My prediction is that we'll not see rates below 4% for the decade. We want higher rates to bring balance to the market.
No rate cuts 2024.
Let’s find out in May/June…. 2024. 😅
Holding for 2024 book it!
Booked! 😅
Lol.....2.....mortgage brokers begging for cuts.
Real Estate Brokers... but sure.
My prediction is that people will make predictions. Some will be right, and will retroactively justify their decision, proving their brilliance by ignoring the facts that pointed to an alternative conclusion. Money nerds will worship the person who guessed right. That’s my prediction and I have been right every time.
Wow. How wise.
People need to start crying and lose their homes before they cut anything.
Some are already crying... others have already lost their homes I'm sure.
Real risk is higher inflation in the long run.
It's all about affordability, the market now is completely unaffordable for investors and first time buyers. That's not going to change with a small boc cut
That’s right, but what changes is consumer perception and confidence. It’s too early to tell and yes it’s the spring market, but there are lots of happenings right now with multiple offers on homes throughout GTA and even outside the GTA. Forget about the Mississauga one with 85 offers on it. Peterborough had a semi with 13 offers and likely sold for $100k over asking. Or more. What do you think will happen when the first fractional 0.25 cut happens in May/June this year?
@johnderperez nothing. The central bank starts cutting when the economy is trending weaker. Almost always a recession follows and RE prices continue tanking. Enjoy.
Confidence does not equal ability to buy. One home with 85 offers that could have been a coordinated effort to stoke FOMO does not equal a trend. $100k over asking may be $200k less then the home would have fetched last year. 5% policy rate is not high, more normal. Only the inexperienced, and unrealistic would ever think that historic decimal point policy rates would be a trend or will even repeat in their lifetime. Whatever the buyer can afford is what can be paid. If price is not congruent with that, house sits on market. More examples of that than 85 offers. @@johnderperez
Real estate will drop 75% before it recovers in a couple years. That’s how far it was from affordable with normal interest rates
...and you've seen it drop 75% at some point in history? That's a steeeeeep prediction.
It's not like People don't like interest rates, they don't like the prices
...and there's an inverse relationship (typically) between the two.
@@johnderperez yea I know.. cause people can only pay certain fixed amount per month and thus the prices WILL HAVE TO come down cause interest rates won't by much.
Why doesn't someone with no debt and savings in money market or bonds......of course they like rates higher. Low negative rates are for degenerate real estate gamblers.
I don’t disagree about what ultra low rates and cheap money for long time did for specs. For non-spec folk… it caused suffering. And it’s still being felt. Good for debt free folk - but they’re still affected by the way rates impact businesses and thus pricing of goods and services. After all businesses also service loans.
@johnderperez sure inflation but if wages keep up and savings have a positive real return.....they are better off. 5% isn't historically high...it seemed to work fine for a long time previously. The problem is household debt.
i am loving your videos'.
Thank you!
Rates won't drop for over 15 years. Baby boomers are retiring, and they will take their capital with them. They own 80% of the stocks as well. Inflation in canada will continue as well
Inflation will continue, and higher inflation may be the new reality. But rates will drop. By how much? Not to near zero unless something catastrophic happens. Maybe 0.25 to 0.50 drop in 2024?
What is the point of your conversation? Analyzing mainstream speculative propoganda is pointless
Maybe watch and you’ll get the point or not 🤷🏻♂️
No, he’s right, angry uncle and you kinda rambled. 😂
@@davidhughes6048 lol okay...
it is so ''nothing new'' just like watching two boring people with nothing better to do then listen to the sounds of themselves. try doing something good for the community.
Thanks for spending your time watching. ;)
Interest rates are low
Relatively speaking... no they aren't low. They're higher than what they were. But yes, they are now lower than they were in the 90's.