Canadian real estate became an issue when housing was considered more of a financial commodity than the homes where people live. There are too many forces and factors that intentionally inflate home prices so their value goes up on paper and in portfolios.
@@ArkopiaRUclips Yep and the conservatives contributed to that for decades, especially when Pierre Poilievre was housing minister and did nothing to make housing more affordable. He's all talk, he's a professional politician that has done next to nothing during his political career aside from criticize people lol
When I started my career, the workers were paid more than American counter parts but the dollar was worth less and the American dollar. This was the bargaining chip ceo's and corporations used to press workers wages. The workers on the floor were middle class, with homes, vacations and sending children to school with nice cars.....20 years of fighting and taking away pensions, sub par pay increases and many many strikes, the workers can no longer afford the cars they are making parts for. Today, the American worker makes more than the Canadian counter part with homes costing 1/2 as much and the American dollar still has more value. What happened to Canada??
That's 10 years of Trudeau, and "the budget will balance itself" and destroyed the economy, stupid taxes that does nothing but inflate the prife of everything loke the carbon tax. Mass immigration when we didn't need it keeps wages down, because compagnies don't want to pay a good price for their workers so they rather hire a low IQ and mostly incompetent and barely speak English or French and pay them peanuts instead of a skilled worker born here that could do the work or 2 or 3 people so should be payed more then can't find a job. I hope the housing crash.. most people yhat owns 2 or 3 proprety and people that doesn’t live here can't afford to pay their mortgages so they are forced to sell. It will sort itself out in a few years as we stop mass immigration and remove the stupid spending and taxes.
Foreign interference. Allowing foreign ownership of Canada. And for the twits saying the Liberals it has been the same under the Conservatives. Canadians are insane keep regurgitating the same two political parties forgetting unlike our American neighbours only have the two parties. Quite frankly it is time to move away from the revolving door of con/lib/con/lib. The definition of insanity is repeating the same action and expecting a different outcome.
So funny how I just watched CTV say that they expect it to booooooom this year. I make well over 100k, have no debt and I can still feel the pinch. Good luck with those rising prices...
Real estate markets are local. National averages mean next to nothing. When the average household income cannot comfortably afford the average house then the market is in an unsustainable condition. When that situation is ridiculous, as it is in many markets in Canada just now, we observe a bubble. It is unwise to buy into a bubble, and a great piece of luck to sell into one.
@@ArkopiaRUclips I'm surprised they're selling, I thought they were just an infinite-money glitch of retirement funds to turn all land into rentals. You know, and spread corruption to any company that wants their investment.
Same here , real estate agents tell you this is the right time to sell if you have a house, and this is the best time to buy if you’re looking to buy property
I’m not buying any land at these prices. It’s wayyyyy over and above the productive capacity of it. If I need more land soon, I will rent. You need a home base though. ✌️
Great video. Im not too concerned about our garbage government destroying our country. I've been preparing for it for the last 10 years. I have 2 full time jobs, and my house is almost paid off. I hope to retire early from one of my full time jobs and just work part time at my home business after that. My business is a pretty rare one, so i don't have a lot of competition, so i think im GTG! Im not convinced about gold and silver as i believe meat and real food will be the new gold and silver.
Great video and content! Thank you 👍🏼 ~ I'm a 37 yr Ex Union member no kids but certainly want a family. Plan to buy out rest of family inheritance (House) with money I earned working for 7 years in civil construction. (Pipelayer / Structural aggregates) Lower Mainland. Looking forward to more videos! Wow 1oz Gold / 3 almost 1oz platinum... How Intersting 🤔😆
Thanks - good info. I have been buying silver for a few years now and waiting on the sidelines to buy again but cannot believe how long they can continue printing fiat and dragging the country down.
Politicians be like: > affordable housing > keep valuation of the real estate equity Oxymoron Choose one What they will do is building very small houses and apartments, it won't fix the problem at all but the people will have the illusion of something
I’m a realtor in the Fraser Valley almost 20 years and this is probably the most accurate description of our ridiculous real estate market, prices and financial situation that I’ve ever heard! 😅 Love it, I also have seen you on Nate’s program a few times Canadian Prepper it’s a routine for me to watch Nate here in my wife’s RUclips account. I do love what you’ve done there and I’m definitely interested in picking up a few boxes (4-5) for my family. I’ll be in touch Cheers, Dave Dimen
I immigrated to Canada in 1993 and watched the market go completely crazy in Vancouver. I ended up in the US and I’m currently out looking at a new to me place after living in an RV for the last 5+ years. I just looked at a place that was 10 acres with a double wide on it for $100,000 asking price. It has power, well and septic and is fenced. I better pull the trigger before all the Canadians flee South and inflate the prices. 🤣🤣
A lot would if they could. It's too bad that it is so hard to get to the states. We immigrated as well about 14 years ago and dont want to go through that process again especially with our younger children.
It's not the "Canadians" inflating prices you should worry about. I hope your borders and regulations truly are strong!!! Canada'a wasn't...and our fearless leaders should have learned from what happened in Vancouver and Toronto!
Great to mention the value of houses in terms of gold! It's amazing how closely they track and maybe we see a fall in houses-to-gold price. But definitely detached housing is not in a bubble in coastal BC. Now maybe condos are in a bubble, but I do no t give a crap about condos. Families cannot exist in Condos, they need good Canadian detached houses. In BC in 2003 we saw 15,000 houses get built. In 2023 there were only 6,500 houses built in BC despite the population being 40% larger than 20 years earlier. That means land and detached houses remain in a dire shortage and the price will never really fall, even in terms of Gold real money. Regulatory burden, delays and costs for new homes make used houses more attractive and pricey. NDP just added a handicapped code change which will add $80k to the price of building every new house! It's been like this at least 30 years in BC, and every national housing crash prices merely flatten in BC while they fall other places. Further: detached houses in north america have doubled in price every decade: SINCE WORLD WAR 2. The prices the last decade or two merely match this 80 year trend line. So don't hold your breath waiting for houses to fall in price, at least not in coastal BC and Okanagan. I own a couple buildings in BC BUT I hold most of our net worth in US companies and own a house in the USA too, and have some gold of course. I really like Poilievre but Canada has been scorched-earth by Trudeau - not looking good to be exposed to Canadian real estate and business at all.
@planesandbikes7353 i would say yes that coastal properties will retain most of their value especially if they have a little useful property. The real killer to real estate, in my opinion, will be the urban places with no property (where all the crackheads live) if you can grow food or house livestock, your place will retain value if you can learn to grow the food or care for the livestock.
@@sunsetoriginals7320 Yes land is valuable, especially if sunny and room for gardening etc. Land in certain popular areas is scarce. But generally growing your own food is not economical even if you own the land. It's a fun hobby and my mom used to keep a huge garden to feed us kids, but I doubt it saved any money doing so. I am a minor prepper though - lots of emergency supplies and even a seed cache. The house I grew up in the prior owner lived through the Depression - they planted the whole yard in potatoes through the 1930s.
Dean ... last week I, offered my (Big Six) bank mortgage dude .... (who I bought a stack of shiny bullion from 10 years before) to now use as a 100% cover for a three bridge loan to buy a farm. I wanted the farm mortage to be free, I wanted to pay back the loan within 3 years, and pay regular monthly interest rates in the interim. My manager sent it up the approval pipe. Three days later bank says ... nada, nix, nein!. Even with the 100% of the mortgage free title on the real estate and the bullion as risk cover for the loan. Even if we had a 50% price crash in that 3 years, they would still be whole... plus . Even though I bought the bullion from them they said "nope." Reason. Can't store the stuff, we don't have vaults anymore, too expensive to move and store. Too unusual. You might be a crimminal? Canada, banking, common sense and the productive economy is hopeless. Afterwards, I pulled all the remaining paper lucre out ... except for $666. I left this sum in the account as a passive agressive middle finger. We are going back to barter and trading. Love your content. You jyst make too much sense. LOL. ❤
I also asked multiple bankers if metal (money) could be collateral for a loan in the past. Answer always the same, after a brief explanation to the bank manager what money was. 🤪
A lot of people are going to find it hard to believe that real estate in Canada can go down by 75% , but let's face it , it shouldn't have reached this point in the first place . A chicken coup of a house costing $1,000,000 plus , frankly I wouldn't be surprised if the crash is even more than 75%.
I agree mostly. I liken real estate to roulet . I like the shameless plug at the end of the video. 14 people can't share the same plate of food ! 🤠 your correct. keep stacking !
UK 1850s. The average worker makes 30 pounds per year. The average worker home costs 75 pounds. Wake me up when I can buy a house in exchange of 3 years worth of income.
Great video. I bought an old mobile home for now but our plan is to buy land somewhere and build a house. These prices are kn crack and it may or may not crash but im not sitting around waiting for it to crash
I'm wondering if the vast acreages required now for dolar farms, wind farms, and Data Farm requirements don't 😅 actually skew logic on this topic? New to your channel! 👍🥰. 👃👃✌️🇨🇦
Three years ago I bought a house for $15k. Paid cash. Just living in it. Haven't done any renovations. Not sure if I will sell soon or if I should hold the note myself.
All assets whether they be "hard", like gold and silver, or perceived like fiat currency have any value if they "desired" by someone else. A very hungry person could care less about those about those assets due to a change in priorities, like starvation.
Thank you Dean, I love your projects. The unlaying reason for the high prices are a low interest rate in recent years which drove prices up since the cost of borrowing was low and the borrower could qualify for the greater debt (higher price).....AND....... the Millions of extra people in the country during that same time, most of which without funds, which are being subsidized by taxes (YOU) and additional national debt + inflation and (YOU). New Housing stock can be built via NOT FOR PROFIT, Co - Op style model to provide a decent, respectful living space. Germany, starting in the early 1950`s were finishing 250,000 units per year, all rental, not for profit.
Sold our home in small town Alberta to move back to family farm in Sask… felt really lucky to get out of old house and mortgage after 11 years there. Wife and I were getting worried we would be able to sell and cash out as we were already seeing signs of a major slow down in real estate in our small town. Our house would have been worth $700,000+ in the cities - we escaped with a sale price $237,000 after renovating the entire property. Trying to turn our cash into real assets before our money becomes worthless due to hyperinflation.
I live in Greater Victoria. I rent a half duplex for 3000 a month that's 35 minutes outside of downtown, about as far and as "cheap" as you can get. We also have the "cheapest" homes for sale in the metro region in my neighbourhood. The absolute cheapest single family homes are 700k. The average is 1 million, and it can go up pretty much infinitely from there. I rent a house because I have a family. Most people I know my age in their early 30s have no kids and live in 600 sq ft or smaller condos. Those are still 500k+ in most situations, or $2300+/month if you're renting. A few years ago, house prices were literally half of what they are here today, and interest rates were also lower during that time.
I enjoyed your song and your info but maybe because I'm getting older I get bothered by this mindset of how older baby boomers and mid baby boomers (of which I am neither) are thrilled: drooling and wringing their hands about how much their real estate has gone up in value. They were fortunate to have lived in a time where disposable income versus cost of owning a home was much better than it is now. During this boom there were far more manufacturing jobs with decent wages per capita than there is now as greedy corporations want a larger profit margin which they can get through cheaper labour in other countries. I doubt many in that age group purchased their homes with the thought of making big bucks when it was time to sell - yes, they probably planned to downsize when the kids have become independent and make a little extra money for retirement living (big house more costly than little house). Don't you think they worry about their kids or grandkids housing affordability? Well you definitely can't blame people younger than yourself for the state of things so I guess you can only point fingers at older generations. If we want to be judging by generations, isn't it the younger people who use money making schemes such as house flipping and air bnb's?? It's unfortunate that we lost a lot of manufacturing jobs due to corporate greed, that our government doesn't really have any strong regulations regarding limiting foreign investment, immigration, speculation of a basic necessity etc., etc., etc. because they see dollar signs and go gaaah (they truly are the ones drooling and wringing their hands in anticipation of tax dollars)! Our leadership is corrupt if not criminal in it's use/abuse of taxes and support of the wealthy.
I'm at about 50% equity in the suburbs of SLC. I wonder if now is the time to sell and move to my land to make homestead building a full-time job. The pending automation of the majority of the service economy has me thinking now is the time.
College grad here... All money is real enough if it is accepted for food. Your silver coin would be rejected at a grocery store. You are correct that fiat is a poor store of wealth over time. Your coin is better. Interestingly, the base unit of value is not dollars, it is "life-hours".
Hyper inflation is an injustice and devaluation of ‘life hours’… money printed out of thin air should only be printed in proportion to the actual life hours of value that society has produced. The value of money should be reflective of the life hours… but governments have devalued our life hours and we are literal slaves as the dollar is worthless. Why we need to transfer garbage money into real assets and money while we still can.
I think you are missing the concept of supply and demand in your video. Plus Inflation and taxes impacting the cost. But I understand your point of view. I agree that the prices of home could reduce once the government starting increasing the supply of homes.
The banks in Canada are often protected against loss if the mortgage is CMHC insured. If those mortgages default then the bank is made whole by the people of Canada since CMHC is a crown corporation. Canadian banks often realize a return on loans even where their risk is zero.
Hoping to sell our homestead in Ontario this spring. Things are getting out of hand here. Sad to be leaving what we spent so long to build, but where we are going will hopefully be better. Great commentary as always Dean!
Interesting video….not too concerned. Timing is everything with any commodities. Being debt free, I feel the only way that this all can happen is with a full financial reset. I can’t see it happen.
So the condo in Ottawa will loose value then later you say that houses will keep the value but the money will crash. Am not sure i understand, should i sell or keep my real-estate? Or should i transfer my canadian$ to US$ ?
I think you are half right about this, because of rhe Baby Boom in the US and Canada being the largest generation we saw a sharp rise of housing costs as they became adults and started forming families, this was exacerbated when half of them were conviced that they needed to get dovorced and have seperate bouseholds. To keep up with the rising housing costs, moms that would have stayed home before started going to work, which doubled the labor pool and cut wages, while housing costs stayed the same. But since the Boomers didnt have as many kids as their parents, we should be in a state of excess houses. To keep the housing prices propped up, we have increased immigration, which uses up the surplus houses and widens rhe labor pool depressing wages and propping up housing prices. So while a house should be a depreciating asset that might keep up with inflation or close to it, when you have massively inflated demand because of devorce and immigration and suppressed wages due to the same reasons, you have the situation we see.
Excellent video on just how this banking system has become so corrupted to the point where those who r forced to live on the streets in tents are realistically way better off except they r not able to leave their curb and venture out to the woods and live off the land .Our native population has survived with that mindset for 5 thousand years and they did well enough to prosper. They truly are the masters of their environment. So how has it gotten to this stage in human development where there is nothing but decay and death? This isn't right .
A great video and points! Side or maybe part of the main note to add is that in Canada, the majority of the lands are held by the governments and not the people, which artificially keep up the land values, even in rural Canada. It's 90% of the land base held by governments, and in places like BC, it's 95%! One bug reqson why in anywhere Texas you can buy land for a fraction of comparable in BC.you can fit Texas into BC and still have about approx. 200k sq km of land left over. The people need to take a hard line and push back on this. Also, as long as you pay taxes on anything, you own nothing and remember that property taxes are a tax on unrecognized gains.... let that sink in 😉
Man, just talked to wife recently about house being a depreciating asset in reality (same as car). Got your video recommended. True face of AI in action. Have you thought to share your experience in more details on how to start - land, building house etc. Thanks
Interesting point about silver as a store of value but being of limited transactional value. I also have stacked Au/Ag but lately have become more convinced of the value of digital currencies, BTC in particular. This assumes of course that it is not a creation of the government ( will we ever know?). The advantage of BTC is that it is a finite resource ( 21 million), quite unlike fiat and even precious metals. Also, it requires no storage, cares not for international borders and can be transacted privately. Great channel Dean. I will soon be joining you on prairie acreage after decades on the west coast. Your greenhouse project is an inspiration which I hope to emulate on a smaller scale.
The main criticism i have of this method of looking at real estate: Its not the home that drives the value up, its the land value. This is determined by the vacant lot prices vs a house. average city lot in my smaller town is 250k, the cheapest house on the market is 280k. House worth ~30k. Every other point hes made is spot on.
In Canadian clown bucks even cars behave like assets. The used car i bought in 2019 for $7k is selling for $11k to $13k with the same amount of miles my car currently has now.
I sold my house in Saskatoon , Saskatchewan, in one of the most expensive per square-foot neighbourhoods with a Riverview. I had granite countertops 2200 ft.² I own the house since 2008 and I couldn’t be happier I sold I moved to a small town of 600 people 95 km away and purchased a shitty little house for $15,000. I’ve had the big house $200,000 renovation I could care less about looking rich anymore. I was on the hamster wheel to try to impress other people get out of any big city especially Ontario. I don’t get why if you wanna go to Ontario? There’s very little economic advantage to be in there move to a small town in Alberta or Saskatchewan. You can get a money job that starts at 40 bucks an hour or you can move to Ontario and you can get a job at Subway that starts at where a minimum wage is, it makes no sense to me to live in a large urban environment
I hope the back of your T-Shirt says 'Said No One Ever". I've been saying that the Canadian real estate market has been due for a massive correction ever since the 2008 global financial crisis.
well thats PPs plan to strip boomers of retirement! build larger gov that can controls city gov! canadians are too smart to believe a lifelong politician that has a vested interest in housing crash and made millions magically working in gov getting paied very little. wonder how many people he owes favors too? hmm. wonder if he will buy israeli surveillance tech company with canadian tax money harper purchased a several years ago "to keep our borders safe"? i wonder if he will defacto put in so much legislation any digital currency will effectively become centralized and feds will have access to your spending habits and track each dollar u spend... lol i mean writing is on the wall here folks. JT needed to go but PP is HORRIBLE option, otoole was far better statesman to bring canada together vs divide like they do in the USA..
As long as they keep printing money (and they don't have any choice but to print) , assets are going to keep going up. Unfortunately so is everything else.
In Venezuela, you can fill up a truck with fuel for a small amount of food (1 smoothie). A currency need to be uniform, consistent, have intrinsic value, and last a long time. Gold and silver last forever, freeze dried food lasts longer than a 25 year best before date, regular food only lasts days or weeks. 👍
Hey Dean, I am a middle millennial who still has not been able to afford a home myself yet but am currently saving up for a down payment. As much as I would like a death contract as soon as possible… I feel like I will wait a bit longer, and save more until a certain scheme unravels.. hmm 🤔
Rewind to 2003. The average house price was closely tied to the AFTER TAX average income. There were pockets of higher rates (typically cities), but overall, housing was affordable, pretty much everywhere. Canadian residential real estate skyrocketed under Harper by 67%. Under Trudeau? 62% I mostly like what PP is saying, but he will not bring back housing to affordability because he is dead wrong on his statements. Housing is not double what it should be, it is approaching 10x, based on the model from the early 2000's and beyond, a metric that was true forever in Canada. And rents? LOL. No. It is NOT getting slashed. I'm in Vancouver. $2000/month for a shitty one bedroom. That's going to be cut in half? Eff off, socialists.
Great time to buy a condo in Toronto! Going cheap and toronto real estate only goes up. Now is the time to SPLURGE and buy a way bigger better dream home than just a few months ago. Cmon down we will show you some places. Sign you up for a great home! Nows the time to get in before its too late.
That's why they call it the American Dream, because you have to be asleep to believe it. ~ George Carlin
Legend. Still... From beyond. 😎😎👍
I bet he faked his death@@SAABROSS
Canadian real estate became an issue when housing was considered more of a financial commodity than the homes where people live. There are too many forces and factors that intentionally inflate home prices so their value goes up on paper and in portfolios.
For sure. 👍
@@ArkopiaRUclips Yep and the conservatives contributed to that for decades, especially when Pierre Poilievre was housing minister and did nothing to make housing more affordable. He's all talk, he's a professional politician that has done next to nothing during his political career aside from criticize people lol
@@KathleenHawkbingo
@@KathleenHawkthank you for seeing the truth! Wish more Canadians would see the truth. This idiot is an idiot!
@@KathleenHawk Politicians being well politicians.....
When I started my career, the workers were paid more than American counter parts but the dollar was worth less and the American dollar. This was the bargaining chip ceo's and corporations used to press workers wages. The workers on the floor were middle class, with homes, vacations and sending children to school with nice cars.....20 years of fighting and taking away pensions, sub par pay increases and many many strikes, the workers can no longer afford the cars they are making parts for. Today, the American worker makes more than the Canadian counter part with homes costing 1/2 as much and the American dollar still has more value. What happened to Canada??
Every White Ntaion is being dismantled from within.
Kalergi Plan. Look it up. It's all intentional (and our fault for letting it happen).
That's 10 years of Trudeau, and "the budget will balance itself" and destroyed the economy, stupid taxes that does nothing but inflate the prife of everything loke the carbon tax. Mass immigration when we didn't need it keeps wages down, because compagnies don't want to pay a good price for their workers so they rather hire a low IQ and mostly incompetent and barely speak English or French and pay them peanuts instead of a skilled worker born here that could do the work or 2 or 3 people so should be payed more then can't find a job. I hope the housing crash.. most people yhat owns 2 or 3 proprety and people that doesn’t live here can't afford to pay their mortgages so they are forced to sell. It will sort itself out in a few years as we stop mass immigration and remove the stupid spending and taxes.
Liberal government
@glacialmobbs7657 as much as I'd like to point at them, 20 plus years travel both parties....
Foreign interference. Allowing foreign ownership of Canada. And for the twits saying the Liberals it has been the same under the Conservatives. Canadians are insane keep regurgitating the same two political parties forgetting unlike our American neighbours only have the two parties. Quite frankly it is time to move away from the revolving door of con/lib/con/lib. The definition of insanity is repeating the same action and expecting a different outcome.
Dang !! Straight to the point, harsh , fast , smart and 100% real 👍🏻👍🏻👍🏻 keep it up 🔥🔥🔥Great job 🎉🎉
So funny how I just watched CTV say that they expect it to booooooom this year. I make well over 100k, have no debt and I can still feel the pinch. Good luck with those rising prices...
Real estate markets are local. National averages mean next to nothing.
When the average household income cannot comfortably afford the average house then the market is in an unsustainable condition. When that situation is ridiculous, as it is in many markets in Canada just now, we observe a bubble.
It is unwise to buy into a bubble, and a great piece of luck to sell into one.
i bought in the bubble :')
09:00 - Banks want You, the Slave, to pay principal and interest // The Asset is the Slave Person, Not the House //
The Banks might not want your house
but Vanguard does
Blackrock is currently selling US real estate at a loss.
@@ArkopiaRUclips I'm surprised they're selling, I thought they were just an infinite-money glitch of retirement funds to turn all land into rentals.
You know, and spread corruption to any company that wants their investment.
Your channel is undervalued, Dean. You should have way more subscribers. Great video.
We are serfs to The Crown. We will NEVER own land. Once people realize that, things change.
No one owns land now. They can seize that land, you think you own, if you don't pay your property taxes.
I'm glad at least one other Canadian believes that. The monarchy is a huge problem.
Inflation is another way to increase taxes. Thank you for being truthful!
I subscribed just because you kept flashing real money. 😜
Very well articulated, thank you.
We sold a few years back and are waiting for the bubble to burst.
Same here , real estate agents tell you this is the right time to sell if you have a house, and this is the best time to buy if you’re looking to buy property
I often feel like in a terrible person for wanting land prices to collapse so I can afford land outside of the city.
I’m not buying any land at these prices. It’s wayyyyy over and above the productive capacity of it. If I need more land soon, I will rent. You need a home base though. ✌️
And land owners aren't terrible for wanting it to double every year? They deserve it if it crashes.
@@bookkeepingtipswithty the rent? I been renting mine the same price since I bought. What has rental prices increased from 2020 till now?
Spot on content. I always appreciate your wisdom and now I get the added bonus of a song. Can't go wrong there. Keep doing what you are doing.
Wow! That’s quite a perspective on real vs fake money. Thank you!
Great video. Im not too concerned about our garbage government destroying our country. I've been preparing for it for the last 10 years. I have 2 full time jobs, and my house is almost paid off. I hope to retire early from one of my full time jobs and just work part time at my home business after that. My business is a pretty rare one, so i don't have a lot of competition, so i think im GTG! Im not convinced about gold and silver as i believe meat and real food will be the new gold and silver.
Exactly. In a severe crash, gold and silver will be traded for a hardy meal.
@bookkeepingtipswithty I'd still rather be the one with the food.
Thanks for the Roger Miller remix!😂
Great video and content! Thank you 👍🏼
~ I'm a 37 yr Ex Union member no kids but certainly want a family. Plan to buy out rest of family inheritance (House) with money I earned working for 7 years in civil construction. (Pipelayer / Structural aggregates) Lower Mainland.
Looking forward to more videos!
Wow 1oz Gold / 3 almost 1oz platinum...
How Intersting 🤔😆
I don't agree if interest rates come down . 😊 but I like the FIG TREE behind you 😊.great green house 😊
Thanks - good info. I have been buying silver for a few years now and waiting on the sidelines to buy again but cannot believe how long they can continue printing fiat and dragging the country down.
Politicians be like:
> affordable housing
> keep valuation of the real estate equity
Oxymoron
Choose one
What they will do is building very small houses and apartments, it won't fix the problem at all but the people will have the illusion of something
you can't have affordable housing and have them keep their value, and we have politicians telling you both in the same
sentence!
Canada traded affordable homes for free Covid cheques, our houses didn’t double in value, the money halved in buying power.
I’m a realtor in the Fraser Valley almost 20 years and this is probably the most accurate description of our ridiculous real estate market, prices and financial situation that I’ve ever heard! 😅 Love it, I also have seen you on Nate’s program a few times Canadian Prepper it’s a routine for me to watch Nate here in my wife’s RUclips account. I do love what you’ve done there and I’m definitely interested in picking up a few boxes (4-5) for my family. I’ll be in touch
Cheers, Dave Dimen
I immigrated to Canada in 1993 and watched the market go completely crazy in Vancouver.
I ended up in the US and I’m currently out looking at a new to me place after living in an RV for the last 5+ years. I just looked at a place that was 10 acres with a double wide on it for $100,000 asking price. It has power, well and septic and is fenced. I better pull the trigger before all the Canadians flee South and inflate the prices. 🤣🤣
A lot would if they could. It's too bad that it is so hard to get to the states. We immigrated as well about 14 years ago and dont want to go through that process again especially with our younger children.
It's not the "Canadians" inflating prices you should worry about. I hope your borders and regulations truly are strong!!! Canada'a wasn't...and our fearless leaders should have learned from what happened in Vancouver and Toronto!
I always appreciate your perspective on government! 😂
Great to mention the value of houses in terms of gold! It's amazing how closely they track and maybe we see a fall in houses-to-gold price. But definitely detached housing is not in a bubble in coastal BC. Now maybe condos are in a bubble, but I do no t give a crap about condos. Families cannot exist in Condos, they need good Canadian detached houses.
In BC in 2003 we saw 15,000 houses get built. In 2023 there were only 6,500 houses built in BC despite the population being 40% larger than 20 years earlier. That means land and detached houses remain in a dire shortage and the price will never really fall, even in terms of Gold real money. Regulatory burden, delays and costs for new homes make used houses more attractive and pricey. NDP just added a handicapped code change which will add $80k to the price of building every new house! It's been like this at least 30 years in BC, and every national housing crash prices merely flatten in BC while they fall other places.
Further: detached houses in north america have doubled in price every decade: SINCE WORLD WAR 2. The prices the last decade or two merely match this 80 year trend line. So don't hold your breath waiting for houses to fall in price, at least not in coastal BC and Okanagan.
I own a couple buildings in BC BUT I hold most of our net worth in US companies and own a house in the USA too, and have some gold of course. I really like Poilievre but Canada has been scorched-earth by Trudeau - not looking good to be exposed to Canadian real estate and business at all.
Correct. Go up in dollars, and down in money, as stated in the video. 👌
@planesandbikes7353 i would say yes that coastal properties will retain most of their value especially if they have a little useful property. The real killer to real estate, in my opinion, will be the urban places with no property (where all the crackheads live) if you can grow food or house livestock, your place will retain value if you can learn to grow the food or care for the livestock.
@@sunsetoriginals7320 Yes land is valuable, especially if sunny and room for gardening etc. Land in certain popular areas is scarce. But generally growing your own food is not economical even if you own the land. It's a fun hobby and my mom used to keep a huge garden to feed us kids, but I doubt it saved any money doing so. I am a minor prepper though - lots of emergency supplies and even a seed cache. The house I grew up in the prior owner lived through the Depression - they planted the whole yard in potatoes through the 1930s.
Dean ... last week I, offered my (Big Six) bank mortgage dude .... (who I bought a stack of shiny bullion from 10 years before) to now use as a 100% cover for a three bridge loan to buy a farm. I wanted the farm mortage to be free, I wanted to pay back the loan within 3 years, and pay regular monthly interest rates in the interim. My manager sent it up the approval pipe. Three days later bank says ... nada, nix, nein!. Even with the 100% of the mortgage free title on the real estate and the bullion as risk cover for the loan. Even if we had a 50% price crash in that 3 years, they would still be whole... plus . Even though I bought the bullion from them they said "nope." Reason. Can't store the stuff, we don't have vaults anymore, too expensive to move and store. Too unusual. You might be a crimminal? Canada, banking, common sense and the productive economy is hopeless. Afterwards, I pulled all the remaining paper lucre out ... except for $666. I left this sum in the account as a passive agressive middle finger. We are going back to barter and trading. Love your content. You jyst make too much sense. LOL. ❤
I also asked multiple bankers if metal (money) could be collateral for a loan in the past. Answer always the same, after a brief explanation to the bank manager what money was. 🤪
Wow, this is the best video I've ever seen on Canada. And on RUclips. Good job buddy.
Hey really appreciate that. I try my best. ✌️💪
A lot of people are going to find it hard to believe that real estate in Canada can go down by 75% , but let's face it , it shouldn't have reached this point in the first place . A chicken coup of a house costing $1,000,000 plus , frankly I wouldn't be surprised if the crash is even more than 75%.
Adult babysitter? No I'm an adult babysitter, Security at the RGH.
I agree mostly. I liken real estate to roulet . I like the shameless plug at the end of the video. 14 people can't share the same plate of food ! 🤠 your correct. keep stacking !
UK 1850s. The average worker makes 30 pounds per year. The average worker home costs 75 pounds. Wake me up when I can buy a house in exchange of 3 years worth of income.
Great video. I bought an old mobile home for now but our plan is to buy land somewhere and build a house. These prices are kn crack and it may or may not crash but im not sitting around waiting for it to crash
I'm wondering if the vast acreages required now for dolar farms, wind farms, and Data Farm requirements don't 😅 actually skew logic on this topic? New to your channel! 👍🥰. 👃👃✌️🇨🇦
Yup I started stacking silver and some gold instead of keeping $$ in the bank
Love your 🎵 song! 🤠
It has been almost 10 yrs still waiting for the burst
It’ll probably go up, but groceries will go up more, and gold way more.
😂 Where do You live? BC is not barren, it is beautiful and lush. I am here, however, for the bulk of your message 👍🏻
Three years ago I bought a house for $15k. Paid cash. Just living in it. Haven't done any renovations. Not sure if I will sell soon or if I should hold the note myself.
All assets whether they be "hard", like gold and silver, or perceived like fiat currency have any value if they "desired" by someone else. A very hungry person could care less about those about those assets due to a change in priorities, like starvation.
Here in the U.S. the houses need to lose 50% of their current value to be realistic...Canadian prices are just silly.
Thank you Dean, I love your projects.
The unlaying reason for the high prices are a low interest rate in recent years which drove prices up since the cost of borrowing was low and the borrower could qualify for the greater debt (higher price).....AND....... the Millions of extra people in the country during that same time, most of which without funds, which are being subsidized by taxes (YOU) and additional national debt + inflation and (YOU). New Housing stock can be built via NOT FOR PROFIT, Co - Op style model to provide a decent, respectful living space.
Germany, starting in the early 1950`s were finishing 250,000 units per year, all rental, not for profit.
Yeah we're on exactly the same page my dude. I'm 25 and trying to explain this to my realtor friends just makes their heads explode.
Sold our home in small town Alberta to move back to family farm in Sask… felt really lucky to get out of old house and mortgage after 11 years there. Wife and I were getting worried we would be able to sell and cash out as we were already seeing signs of a major slow down in real estate in our small town.
Our house would have been worth $700,000+ in the cities - we escaped with a sale price $237,000 after renovating the entire property.
Trying to turn our cash into real assets before our money becomes worthless due to hyperinflation.
Right? I missed lots out on things. Bubbles always go higher than I could ever imagine.
Finally someone gets it, what are your thoughts of Gold being reclacified tier 1 asset?
Gold is money. 👍
I liked your song!😂
I live in Greater Victoria. I rent a half duplex for 3000 a month that's 35 minutes outside of downtown, about as far and as "cheap" as you can get. We also have the "cheapest" homes for sale in the metro region in my neighbourhood. The absolute cheapest single family homes are 700k. The average is 1 million, and it can go up pretty much infinitely from there.
I rent a house because I have a family. Most people I know my age in their early 30s have no kids and live in 600 sq ft or smaller condos. Those are still 500k+ in most situations, or $2300+/month if you're renting.
A few years ago, house prices were literally half of what they are here today, and interest rates were also lower during that time.
Love this humour new sub here!!
That was great, definitely subscribing.
Beauty shirt btw 👌🏻🤣
Canada federal debt: $20k/person(USD) , USA debt $100k/person....as 51st state how much I gotta pay 20 or 100? 🤔
Right? 😃
Dude! This video is brilliant. Plenty of thanks!
Great common sense. And I love that song
You think canada becoming a state is common sense? It's really weerarded he thinks that's real.
@roseoverdose6451 Maybe not that part! The rest of what he said makes sense
I enjoyed your song and your info but maybe because I'm getting older I get bothered by this mindset of how older baby boomers and mid baby boomers (of which I am neither) are thrilled: drooling and wringing their hands about how much their real estate has gone up in value. They were fortunate to have lived in a time where disposable income versus cost of owning a home was much better than it is now. During this boom there were far more manufacturing jobs with decent wages per capita than there is now as greedy corporations want a larger profit margin which they can get through cheaper labour in other countries. I doubt many in that age group purchased their homes with the thought of making big bucks when it was time to sell - yes, they probably planned to downsize when the kids have become independent and make a little extra money for retirement living (big house more costly than little house). Don't you think they worry about their kids or grandkids housing affordability? Well you definitely can't blame people younger than yourself for the state of things so I guess you can only point fingers at older generations. If we want to be judging by generations, isn't it the younger people who use money making schemes such as house flipping and air bnb's?? It's unfortunate that we lost a lot of manufacturing jobs due to corporate greed, that our government doesn't really have any strong regulations regarding limiting foreign investment, immigration, speculation of a basic necessity etc., etc., etc. because they see dollar signs and go gaaah (they truly are the ones drooling and wringing their hands in anticipation of tax dollars)! Our leadership is corrupt if not criminal in it's use/abuse of taxes and support of the wealthy.
Thank you for this comment! I REALLY needed to head that!! ♥️. Please post more on your channel..... Please 😀. 👃👃👃✌️🇨🇦
I'm at about 50% equity in the suburbs of SLC. I wonder if now is the time to sell and move to my land to make homestead building a full-time job. The pending automation of the majority of the service economy has me thinking now is the time.
Just got my BC assessment and a 860SQ ft condo in old building went up 10% in New Westminster. To $513.000 K that is messed up.
I saw a news article that some houses in Calgary nearly doubled their assessed value, and thus the Taxes.
@@ArkopiaRUclips That is even worse, drove through Calgary last year and was a sprawl of houses that all looked the same.
Good tune... Lol. I just took my home off the market today. Not a lot of motion going on in central Okanagan.
Lag time for real estate is 6-18 months before people realize how the market changed.
They've been saying that for decades and yet somewhow, unexplicably, it just keeps going on.
Property surely worth to buy, but the price should be at least able to be affordable (pay with affordable mortgage) by half the people.
I think it’s something like the average person today has to make $280,000 per year to have the same quality of life as anyone living in the 1970s. 👍
so glad to hear your perspective, so much noise out there!
Whoever bought a house in the last 4 years is screwed ... Ships going down ..
College grad here... All money is real enough if it is accepted for food. Your silver coin would be rejected at a grocery store.
You are correct that fiat is a poor store of wealth over time. Your coin is better.
Interestingly, the base unit of value is not dollars, it is "life-hours".
Hyper inflation is an injustice and devaluation of ‘life hours’… money printed out of thin air should only be printed in proportion to the actual life hours of value that society has produced.
The value of money should be reflective of the life hours… but governments have devalued our life hours and we are literal slaves as the dollar is worthless. Why we need to transfer garbage money into real assets and money while we still can.
I think you are missing the concept of supply and demand in your video. Plus Inflation and taxes impacting the cost. But I understand your point of view. I agree that the prices of home could reduce once the government starting increasing the supply of homes.
Why is immigration so high? Economy shit and people not having kids, and need bodies to prop up the Ponzi scheme. As I stated. ✌️
The banks in Canada are often protected against loss if the mortgage is CMHC insured. If those mortgages default then the bank is made whole by the people of Canada since CMHC is a crown corporation. Canadian banks often realize a return on loans even where their risk is zero.
Great. More inflation.
Hoping to sell our homestead in Ontario this spring. Things are getting out of hand here. Sad to be leaving what we spent so long to build, but where we are going will hopefully be better. Great commentary as always Dean!
Where u located...know someone who is looking for a place
@@RobertMclaren68we are east of Owen Sound. Would love to be able to sell privately
@dennisknott9347 cool how many acres?
Interesting video….not too concerned. Timing is everything with any commodities. Being debt free, I feel the only way that this all can happen is with a full financial reset. I can’t see it happen.
Great show!👍🏻😁✊🏻🇨🇦
So the condo in Ottawa will loose value then later you say that houses will keep the value but the money will crash.
Am not sure i understand, should i sell or keep my real-estate?
Or should i transfer my canadian$ to US$ ?
Nobody knows. I invest in productive assets and real things. 👍
I think you are half right about this, because of rhe Baby Boom in the US and Canada being the largest generation we saw a sharp rise of housing costs as they became adults and started forming families, this was exacerbated when half of them were conviced that they needed to get dovorced and have seperate bouseholds.
To keep up with the rising housing costs, moms that would have stayed home before started going to work, which doubled the labor pool and cut wages, while housing costs stayed the same.
But since the Boomers didnt have as many kids as their parents, we should be in a state of excess houses. To keep the housing prices propped up, we have increased immigration, which uses up the surplus houses and widens rhe labor pool depressing wages and propping up housing prices.
So while a house should be a depreciating asset that might keep up with inflation or close to it, when you have massively inflated demand because of devorce and immigration and suppressed wages due to the same reasons, you have the situation we see.
Excellent video on just how this banking system has become so corrupted to the point where those who r forced to live on the streets in tents are realistically way better off except they r not able to leave their curb and venture out to the woods and live off the land .Our native population has survived with that mindset for 5 thousand years and they did well enough to prosper.
They truly are the masters of their environment. So how has it gotten to this stage in human development where there is nothing but decay and death? This isn't right .
Bubble have to boom 💣.. because if the CAD dollar is loosing value economy won't be posible.
Smart fella. He’s got things figured out
A great video and points!
Side or maybe part of the main note to add is that in Canada, the majority of the lands are held by the governments and not the people, which artificially keep up the land values, even in rural Canada. It's 90% of the land base held by governments, and in places like BC, it's 95%! One bug reqson why in anywhere Texas you can buy land for a fraction of comparable in BC.you can fit Texas into BC and still have about approx. 200k sq km of land left over. The people need to take a hard line and push back on this.
Also, as long as you pay taxes on anything, you own nothing and remember that property taxes are a tax on unrecognized gains.... let that sink in 😉
Man, just talked to wife recently about house being a depreciating asset in reality (same as car). Got your video recommended. True face of AI in action. Have you thought to share your experience in more details on how to start - land, building house etc. Thanks
I have shared; maybe I’ll do some more. 👍
Interesting point about silver as a store of value but being of limited transactional value. I also have stacked Au/Ag but lately have become more convinced of the value of digital currencies, BTC in particular. This assumes of course that it is not a creation of the government ( will we ever know?). The advantage of BTC is that it is a finite resource ( 21 million), quite unlike fiat and even precious metals. Also, it requires no storage, cares not for international borders and can be transacted privately.
Great channel Dean. I will soon be joining you on prairie acreage after decades on the west coast. Your greenhouse project is an inspiration which I hope to emulate on a smaller scale.
I live in Vancouver, where there is NO industry at all. What keeps life going in this city?
Delusions and momentum, but the pendulum is at its apogee.
Buen video ⭐️😎⭐️
Keep stacking 🍀🤠
The main criticism i have of this method of looking at real estate: Its not the home that drives the value up, its the land value. This is determined by the vacant lot prices vs a house. average city lot in my smaller town is 250k, the cheapest house on the market is 280k. House worth ~30k. Every other point hes made is spot on.
Great job as always but this is a very high quality video my good sir!
In Canadian clown bucks even cars behave like assets. The used car i bought in 2019 for $7k is selling for $11k to $13k with the same amount of miles my car currently has now.
"Would you rather live in a tiny crack house in Vancouver or in a mansion in Texas?" --- I guess that depends on how much you like crack.
Another reason to buy a 14k home in admiral Saskatchewan like my sister did two years ago 🎉
That’s not in a bubble. 🫧 👌
So talented!--great song! Gave me a lot to think about. Awesome!
I sold my house in Saskatoon , Saskatchewan, in one of the most expensive per square-foot neighbourhoods with a Riverview. I had granite countertops 2200 ft.² I own the house since 2008 and I couldn’t be happier I sold I moved to a small town of 600 people 95 km away and purchased a shitty little house for $15,000. I’ve had the big house $200,000 renovation I could care less about looking rich anymore. I was on the hamster wheel to try to impress other people get out of any big city especially Ontario. I don’t get why if you wanna go to Ontario? There’s very little economic advantage to be in there move to a small town in Alberta or Saskatchewan. You can get a money job that starts at 40 bucks an hour or you can move to Ontario and you can get a job at Subway that starts at where a minimum wage is, it makes no sense to me to live in a large urban environment
Good decisions. 💪👌
Weird Al is so jealous of your intro...I am still laughing.
I hope the back of your T-Shirt says 'Said No One Ever". I've been saying that the Canadian real estate market has been due for a massive correction ever since the 2008 global financial crisis.
It’s my Urban Camouflage
well thats PPs plan to strip boomers of retirement! build larger gov that can controls city gov! canadians are too smart to believe a lifelong politician that has a vested interest in housing crash and made millions magically working in gov getting paied very little. wonder how many people he owes favors too? hmm. wonder if he will buy israeli surveillance tech company with canadian tax money harper purchased a several years ago "to keep our borders safe"? i wonder if he will defacto put in so much legislation any digital currency will effectively become centralized and feds will have access to your spending habits and track each dollar u spend... lol i mean writing is on the wall here folks. JT needed to go but PP is HORRIBLE option, otoole was far better statesman to bring canada together vs divide like they do in the USA..
HAHA 😂. ❤U 4 your humor .And other things as well , like thos smoothies I'm still trying to get from u .❤
Roger Miller spinoff👍 - 👍
As long as they keep printing money (and they don't have any choice but to print) , assets are going to keep going up. Unfortunately so is everything else.
🤔 How much will a smoothie be work in 25 years? Maybe it would be good currency to invest in… :)
In Venezuela, you can fill up a truck with fuel for a small amount of food (1 smoothie). A currency need to be uniform, consistent, have intrinsic value, and last a long time. Gold and silver last forever, freeze dried food lasts longer than a 25 year best before date, regular food only lasts days or weeks. 👍
Hey Dean, I am a middle millennial who still has not been able to afford a home myself yet but am currently saving up for a down payment. As much as I would like a death contract as soon as possible… I feel like I will wait a bit longer, and save more until a certain scheme unravels.. hmm 🤔
I don’t know if waiting is better or not. You need a place to live. I would say find a very good deal, not too extravagant, and just live your life.
@@ArkopiaRUclips you're right. An acreage with a passive solar greenhouse it is!
Good laugh about reality. Thanks
Rewind to 2003. The average house price was closely tied to the AFTER TAX average income. There were pockets of higher rates (typically cities), but overall, housing was affordable, pretty much everywhere. Canadian residential real estate skyrocketed under Harper by 67%. Under Trudeau? 62% I mostly like what PP is saying, but he will not bring back housing to affordability because he is dead wrong on his statements. Housing is not double what it should be, it is approaching 10x, based on the model from the early 2000's and beyond, a metric that was true forever in Canada. And rents? LOL. No. It is NOT getting slashed. I'm in Vancouver. $2000/month for a shitty one bedroom. That's going to be cut in half? Eff off, socialists.
Housing will go up. Groceries more. Gold wayyyy more. ✌️
Great time to buy a condo in Toronto! Going cheap and toronto real estate only goes up. Now is the time to SPLURGE and buy a way bigger better dream home than just a few months ago. Cmon down we will show you some places. Sign you up for a great home! Nows the time to get in before its too late.
That is often what I like to hear to validate my thesis of the opposite happening. 👍
Great info.
Interesting take on the situation.
you are right about the bubble deflating , the market chickens have come home to roost
Yes I agree with you....
Hey, I live in a frozen place Wisconsin not too far away I don't mind it, and I swore Trump said he was going back to gold.
If you go back to gold, I’m moving to the USA.