@@jerrylee3887they don’t have to. The money isn’t backed by anything. BoC can wipe out the Federal debt with a keystroke. That’s the advantage of having your own currency.
Yeah it's not like it's the only city in Canada that has mild winters, has the ocean front on one side & mountains on the other. Nothing like that. It makes no sense does it
Buyers can afford it!! What are you talking about? Houses are still being sold at higher elevated prices - I realize that most people on RUclips watching these videos are renters… the market is very resilient. As soon as rates drop - you’re going to be shocked
@@donm2067 all my properties cash flow. I’ve been in real estate just shy of 20 years. I cannot afford more real estate but everyone else around me can and they do keep buying. All you keep saying is how unaffordable it is but people are still buying - it’s still a sellers market - I don’t even want your explanation either - no one knows this market- no one.
@@donm2067 doesn’t matter what rates are - banks are bailing their clients out aren’t they?? My mortgage on one of my homes went up 650 as I had to take a fixed rate. I just raised the rent on my tenants. Simple fix. They were paying under market anyway
If we end all short term rentals like airbnb, do we have an inventory problem? If we build 1M new homes investors will buy them all and we will have the same problem. We need to limit the number of homes someone can own. It is so crazy that we have homeless AND people who own multiple empty units.... Are we even human? Even ants treat their species better.
Limiting number of homes shouldn't be the solution. How about, only Canadian Citizens ( while PRs can be guarantors) can purchase homes, reduce immigration, build more homes on vacant land, remove the carbon tax (makes construction far more expensive), reduce the number of permits/laws required for building, regulate the rent prices (would deter people from buying just to rent), etc. If need be, then we can limit the amount of property per individual (ex 2 or 3, or total properties in value at time of purchase).
@davida6146 Canada needs more Cities. Build the infrastructure and they will come. They should ban tearing down and rebuilding homes, And they should make a new city from scratch in each province, lucrative enough to draw investment towards that.
@willsee8391 this would be the only solution. People will come knowing cheaper prices. Keep lower prices for people who own no properties (per household) and double or tripple the price for people who own a previous property.
The people who overpaid for these rental properties and cannot rent them for their money back absolutely are getting stuck with these properties. Kids and other folks are stuck in their parents houses or their existing rentals because any new properties are overpriced and out of reach for their income levels. Anyone buying up investment properties right now is just really freaking dumb. Like seriously unless you can afford to accept NOTHING in rent you won't find a renter. Nobody wants to sink cash into a building then can't get it out or back.
I think Steve Saretsky is a good guy, but I'm surprised by his take on Airbnb - of all people he should know how extensive it is running. In a place with such an a acute problem, every little bit helps... and Airbnb counts for much more than 'a little bit'.
Makes me laugh every time i see the red herring of Airbnb being blamed. Airbnb is the reality of the new market. If someone can privately deliver a room to tourists for a lower dollar, then it's going to a big BC business tourism. What isn't talked about, is that maybe hotels are on their way out and should be converted to rentals. AirBnb is more flexible use than a hotel. Of course the hotel industry is using this to have the dumbed down public chose this as the problem, rather than face a new reality.
it’s all good until your tenant loses their job or stops paying. Good luck getting them out! Especially if you’re dumb enough to LIVE with them. Winter is coming ❄️ 😅
@@InvestingAlex “borderline thug” stretched his two brain cells too thin. He won’t have to worry about his mortgage pymt in prison . You’ve illustrated the intellect of these “investors”. Grift is over. Seek employment 😂
Give it time. It’s death by a thousand cuts for the RE parasites and hopefully the ethical ones can hold on and weather the storm. Suns out and the roaches are scrambling now 😂😂
If inventory was the problem, prices wouldn’t have dropped last year when interest rates were lower. This is the activity of speculators. Now that they believe interest rates hikes are over, they are buying in anticipations of rate cuts. The problem was never inventory.
That makes no sense. Even if every single buyer today was a speculator, if the options that those speculators have increased then they wouldn't be all bidding on the same units this.. prices come down. More inventory always equals less prices .. eventually.
@@tidbit5 yeah, inventory isn't low. There is over 3months supply in most markets. Problem is speculating from easy money policy. Many people who already own property are buying 2nd, 3rd and 4th units to rent out. Many of those people are doing it through fraud. This drives up prices of both rental units and housing. Plus airbnbs and so on. If Airbnb was banned, that alone would tank the market as a flood of properties would hit and rental prices would crash forcing speculators to sell as well.
@@paul23238 yeah that's what people say, but I just don't see it. I don't buy that people are speculating right now. It's not easy money when your paying 1m for a condo that fetches less than half the outgoings.
High interest equals less buyer for new home equals less inventory equals higher price. Higher interest related equals higher inflation. Borrowing is a cost. Cost equals higher price, equals higher inflation. Inflation is up, but a high inflation on a toothbrush isn't as bad as a high inflation on housing mortgage. Food is 9% up, mortgage is 30% up. Do you spend as much on mortgage and food? No. Mortgage hurts more
Love the “aLL mY pRoPeRTies cAsH fLoW” 🤡 yea.. after two months let’s have the same conversation after 6 or 9 months. You can pay the mortgage but also need to account for what you’re no longer spending money on. You see when you’re sick you can squeeze your ass for few minutes- even few hours but eventually that 💩 gotta come out.
People in Vancouver has a lot cash , strong foundations. Parent will support the kids to make the payments . You will not see the housing drop as other cities like Toronto or Calgary who has bigger mortgages but mainly support from employment income.
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
*you know times are tough in Canada when Trudeau's wife is having a hard time qualifying for a mortgage after her separation from Trudeau* 😅🤣😂
They stole enough trust me
This s federal mistake to bring too many people to the country. This is not a vancouver housing issue that is caused by the government.
The amount of money spent on COVID. They need a higher tax base to pay the debt. Plain and simple. It's not rocket science.
@@jerrylee3887they don’t have to. The money isn’t backed by anything. BoC can wipe out the Federal debt with a keystroke. That’s the advantage of having your own currency.
@@sharinglungs3226You're high right?
@@sharinglungs3226😂😅
No, there is enough supply. It's just greedy speculators and real estate investors.
Asking Steve about how the housing market is doing, is like asking a tire pumper how its going pumping tires.
Realtor didn't even take .5 seconds, to contradict himself on air bnb.
Yes, his reaction was a tell - He owns Airbnbs
Thank you Trudeau and Jagmeet.
Vancouver ... why do people live there again exactly?
World class price gouging? Japadog?
If you have housing taken care of its good, that and I don't have to freeze my balls off every winter
Yeah it's not like it's the only city in Canada that has mild winters, has the ocean front on one side & mountains on the other.
Nothing like that. It makes no sense does it
@@tidbit5 don't be butthurt.
@@donm2067 I'm not butthurt. I don't even live there anymore I just think the idea that there is no reason to is completely ridiculous
Sellers will roll over eventually, buyers can't afford the current prices.
Been watching the same properties since Aug 21, very little price declines, hell some even relisted higher this spring.
Buyers can afford it!! What are you talking about? Houses are still being sold at higher elevated prices - I realize that most people on RUclips watching these videos are renters… the market is very resilient. As soon as rates drop - you’re going to be shocked
@@Lifeisapartydresslikeit I understand you're probably over leveraged as most real estate "investors" are, but what happens when rates stay higher?
@@donm2067 all my properties cash flow. I’ve been in real estate just shy of 20 years. I cannot afford more real estate but everyone else around me can and they do keep buying. All you keep saying is how unaffordable it is but people are still buying - it’s still a sellers market - I don’t even want your explanation either - no one knows this market- no one.
@@donm2067 doesn’t matter what rates are - banks are bailing their clients out aren’t they?? My mortgage on one of my homes went up 650 as I had to take a fixed rate. I just raised the rent on my tenants. Simple fix. They were paying under market anyway
If we end all short term rentals like airbnb, do we have an inventory problem?
If we build 1M new homes investors will buy them all and we will have the same problem. We need to limit the number of homes someone can own. It is so crazy that we have homeless AND people who own multiple empty units.... Are we even human? Even ants treat their species better.
Limiting number of homes shouldn't be the solution. How about, only Canadian Citizens ( while PRs can be guarantors) can purchase homes, reduce immigration, build more homes on vacant land, remove the carbon tax (makes construction far more expensive), reduce the number of permits/laws required for building, regulate the rent prices (would deter people from buying just to rent), etc.
If need be, then we can limit the amount of property per individual (ex 2 or 3, or total properties in value at time of purchase).
@davida6146 Canada needs more Cities. Build the infrastructure and they will come. They should ban tearing down and rebuilding homes, And they should make a new city from scratch in each province, lucrative enough to draw investment towards that.
@willsee8391 this would be the only solution. People will come knowing cheaper prices. Keep lower prices for people who own no properties (per household) and double or tripple the price for people who own a previous property.
The people who overpaid for these rental properties and cannot rent them for their money back absolutely are getting stuck with these properties. Kids and other folks are stuck in their parents houses or their existing rentals because any new properties are overpriced and out of reach for their income levels.
Anyone buying up investment properties right now is just really freaking dumb. Like seriously unless you can afford to accept NOTHING in rent you won't find a renter. Nobody wants to sink cash into a building then can't get it out or back.
Dumb investors are hoping real estate prices will keep going up.
@@InvestingAlex
Its only the dumb people buying at these prices. I don't think you'll find DUMBER folks to flip to.
I think Steve Saretsky is a good guy, but I'm surprised by his take on Airbnb - of all people he should know how extensive it is running. In a place with such an a acute problem, every little bit helps... and Airbnb counts for much more than 'a little bit'.
Makes me laugh every time i see the red herring of Airbnb being blamed. Airbnb is the reality of the new market. If someone can privately deliver a room to tourists for a lower dollar, then it's going to a big BC business tourism. What isn't talked about, is that maybe hotels are on their way out and should be converted to rentals.
AirBnb is more flexible use than a hotel. Of course the hotel industry is using this to have the dumbed down public chose this as the problem, rather than face a new reality.
Ban airbnb in Canada
The government Not building enough low housing income to help middle or low income people
So you want the government to take money from middle and high income earners to pay for homes for other people.
Nobody pointing out renting out part of your home makes the mortgage interest tax deductible.
1 million x 6 percent.. hmm... How much per month? Just to pay the interest?
This means pretty much all homes on sales were bought.
Homes across Canada 🇨🇦 are being built for the first time ever
Steve, Steve, Steve, Steve, Steve
it’s all good until your tenant loses their job or stops paying. Good luck getting them out! Especially if you’re dumb enough to LIVE with them. Winter is coming ❄️ 😅
Would u continue live with your landlord and stop paying rent, if u knew he was borderline a thug and u have a wife or children to keep safe?
@@InvestingAlex “borderline thug” stretched his two brain cells too thin. He won’t have to worry about his mortgage pymt in prison .
You’ve illustrated the intellect of these “investors”.
Grift is over. Seek employment 😂
Give it time. It’s death by a thousand cuts for the RE parasites and hopefully the ethical ones can hold on and weather the storm. Suns out and the roaches are scrambling now 😂😂
I'd rather be homeless then pay off a mortgage on a 1 bedroom 800k apartment no thanks!!
If inventory was the problem, prices wouldn’t have dropped last year when interest rates were lower. This is the activity of speculators. Now that they believe interest rates hikes are over, they are buying in anticipations of rate cuts. The problem was never inventory.
Correct. It was never a supply issue. That's just a scapegoat. It's just a bunch of greedy bunch screwing over everyone else.
That makes no sense. Even if every single buyer today was a speculator, if the options that those speculators have increased then they wouldn't be all bidding on the same units this.. prices come down. More inventory always equals less prices .. eventually.
@@tidbit5 yeah, inventory isn't low. There is over 3months supply in most markets. Problem is speculating from easy money policy. Many people who already own property are buying 2nd, 3rd and 4th units to rent out. Many of those people are doing it through fraud. This drives up prices of both rental units and housing. Plus airbnbs and so on. If Airbnb was banned, that alone would tank the market as a flood of properties would hit and rental prices would crash forcing speculators to sell as well.
@@paul23238 yeah that's what people say, but I just don't see it. I don't buy that people are speculating right now. It's not easy money when your paying 1m for a condo that fetches less than half the outgoings.
High interest equals less buyer for new home equals less inventory equals higher price.
Higher interest related equals higher inflation.
Borrowing is a cost. Cost equals higher price, equals higher inflation.
Inflation is up, but a high inflation on a toothbrush isn't as bad as a high inflation on housing mortgage.
Food is 9% up, mortgage is 30% up.
Do you spend as much on mortgage and food? No.
Mortgage hurts more
You can always downsize.
Love the “aLL mY pRoPeRTies cAsH fLoW” 🤡 yea.. after two months let’s have the same conversation after 6 or 9 months. You can pay the mortgage but also need to account for what you’re no longer spending money on.
You see when you’re sick you can squeeze your ass for few minutes- even few hours but eventually that 💩 gotta come out.
Doom and gloom Saretsky strikes again.
People in Vancouver has a lot cash , strong foundations. Parent will support the kids to make the payments . You will not see the housing drop as other cities like Toronto or Calgary who has bigger mortgages but mainly support from employment income.
Someone's sour cause daddy left them no money
@@RedandWhitePanther Vancouver is better than Toronto
@@RedandWhitePanther never been but would love to visit
@@zoro1674that's like comparing a hockey puck to a dog turd, one is obviously nicer than the other, but a hockey puck is nothing special.
@@donm2067Vancouver is nothing special ? Ok. I guess nor is Paris, Sydney, wellington, London, or New York.