just got into bitcoin trade weeks ago and i already made more than $12,500. I wish I knew about this earlier, i would have been a new millionaire by now
Bitcoin should be transparent and it isn't as easy as people thinks It is, there are so many strategies to be learnt and unfolded about Bitcoin trading
Pierre Poilievre is being moved out of the finance critic position. Funny how the only man in parliament who is calling out what the central banks are doing is getting booted out for doing his job.
Pierre is completely incompetent.......if you actually understand what the fool says you will understand he spews out mutually exclusive scenarios one after the other to try and sound smart for some twitter clickbait like most right wingers.....Tiff was like well wtf you smoking and get to your actual questions.....then he's got nothing.
Janet Yellen said to G7 couple days ago: "Time To Go Big Is Now". Don't be surprised to see Bank of Canada start to print out 6 trillion dollars or more in the next few years.
Tesla actually bought in december, they just announced now because volume in btc is dropping and they re afraid their investment is gonna go south. Big players never announce until they ve been in for a while.
@SA I'll say that high values purposefully drive people into areas they wouldnt otherwise consider. Alberta for example, depending on how your earn, is a beautiful wide open place.
I’ve personally never believed that there’s only one place to live and it’s where your at. Maybe your selling your self short thinking there’s no options, in fact every satellite town outside the GTA has just about every convenience the core city has with exception of entertainment that’s currently been restricted. So.....what the benefit is depends on flexibility in job and needs. Timing with family might also be a consideration, but putting all these things aside reducing higher priced housing for repurchased a lower cost home might serve you well if the markets correct 20%. Since 20% of a $750,000 house is less than 20% of a $1.2 million dollar house. Never mind the obvious gain between what you sell versus what you pay. Maybe freeing up $400,000 in tax free capital is a game changer in learning to love your new hood? Much to consider!
@@greatchalla3799 great advice. Many people went from toronto to the Niagara region and ended up in absolutely beautifully built homes with money to spare. That's how you do it, not be afraid to relocate!
@@irszgatti many of our small towns are becoming unaffordable because people from areas such as Toronto are ditching Toronto and bringing big city mentality with them . When homes are bought up by people from Toronto looking for profit and then the rent is jacked up by $600 to Toronto price it destroys the affordable town.
Why are 20 different people bidding on a house in Vancouver? There has to be an influx of people moving to B.C. whether it be from overseas or from other provinces. It's always supply and demand. Municipalities are making it next to impossible for developers to build. Just this week White Rock council turned down a 2nd proposal to replace a 56 year old building of 35 suites and replace it with a building with 80 suites. People in the neighbourhood signed a petition against it citing that it would increase traffic in the area. It's a classic example of, "Not in my neighbourhood" attitudes.
It’s called money laundering. I live in Chilliwack. Every buyer here is an Indian or Chinese for investment ....I mean money laundering. And it’s screwing everyone here who will never ever be able to purchase a house.
My village has brown water and bad pressure. Half a million for a detached. In the 70s, people got a job at the furniture factories and had a detached and a family by Sept. I'm not expecting that, but heck we can do better in Canada.
The only way to against printing money is don't go to work, let the Government give us money. I want to see how long the government can give out free money without collecting back from the one who have assets.
Rates can't go much lower and people's salaries are stagnant. There's more room for crypto growth apart from pullbacks since you can buy in much smaller amounts. Aren't we reaching a threshold with real estate where the average Joe just can't borrow anymore?
Depends on mentality. I want the quick results. Wholesaling the Real Estate, putting the profits into Crypto. Real Estate will always be here, and I believe there will be better times to buy. Just my thoughts.
@@michaellauga1117 you can move in and out of Bitcoin very easily. I certainly wouldn’t hold it for too long. Don’t want to hold real estate if the big one comes. Leverage will sink you.
It seems the RE doomers have just pivoted from being bearish to picking an end of the current bull run sometime “into the future”. This run has lots more legs to go. There are many ways they can and will juice this market. I don’t say this as a perma bull, I say it because in the end, they have no choice. It’s really that simple. We have a few years left here people, at least. What happens after that? Who the hell knows. But it’ll probably be ugly.
*“Once a nation parts with the control of its currency and credit, it matters not who makes the nations laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile.”* - Prime Minister of Canada, Lyon McKenzie King 👑 (1874 - 1950) on why private banks should not be handed control of the nation's monetary system, central bank or the creation of credit.
Looking forward to great content from you Steve. We need more discussion on the Canadian market. Also, one topic that I try to talk a lot to my kids about is how to protect ourselves and navigate through the possible outcomes due this irresponsible management of our economy. Hope you can touch base on that again in your interviews. Keep it up!
Steve, my lumber and trusses costs shot up this year! What used to cost $30k, is now $60k. Resale market is matching that of presale market. Owning a house is luxury now. Costs of concrete also went up, and to top it of, noone wants to push a barrel of concrete on site... Trudeau should start importing people that want to work!
"Making more money from the appreciation of your house than from the salary" - Pierre Poilievre. Yup, my little old house is on par with my career in tech backed by an engineering degree and 15 years of experience. My student loan interest rate was 2x my mortgage rate. I would be so much better off if I invested in housing instead of in engineering. I guess our governments want a country full of gamblers instead of hard working contributors.
Trading housing and stocks is a pure luck. Most of the people who own houses in Vancouver are poor and without education. They think the are smarter then bankers and government 🤣 Your education gives you an ability to survive in this crazy world. Every asset requires maintenance and taxes. And only brain is maintenance and tax free) Wall Street and housing it’s a big scam.
There is no value one can put on knowledge and being able to think critically. There are opportunities out there all the time you need to just be able to identify and be in a position to take advantage of those opportunities. As well, what is good for Tesla, Warren Buffett, Bill Gates etc. is not always good for the average person.
@@hawkmoon206 I have taken many opportunities in engineering, that's why I work in tech now but even with that, I'd be much better off if I focused on housing instead.
@@firstlast4229 It’s not a maintenance, it’s an option) Unlike property 🤣. When you have leaky roof - you don’t have many options. That’s why Steve now promoting Bitcoin instead of real estate. Bitcoin doesn’t need maintenance and you can get out with one click, unlike smelly Kitsilano shelter for 3mils. But idea is the same - speculation!
There is a certain level of arrogance acedemia/government has to poke fun at bubbles in crypto and turn a blind eye to Canadian real estate. True definition of the swamp.
in my opinion real estate is not in a bubble cause immigration and speculation is virtually not at play. rates are low, driving the fervour for those who sat on the sidelines renting since 2016 waiting for that big market crash. trade up buying is also fuelling the market. And... rates will remain low and house prices are still lower than 2016 prices. and and and.... 1.3m in immigration lined up for the next years ahead. if two lockdowns didn’t crash real estate, nothing will.
There is extreme demand lead by super low interest rates and limited inventory. There isn't too much data on insolvencies yet but I expect it will be muted with all the money they are dumping. With the expected immigration policy we are adopting I would say the demand continues and house prices keep going up. Fundamentally speaking this makes sense. Bitcoin however is somewhere people are hiding out based on speculation. I think the two cannot be compared as one has intrinsic value and the other is bought based excess funds and sex appeal.
My question re: immigration. At what point do people looking to immigrate look at Canada and the out of control housing costs and not just choose to apply to move here and maybe look at other nations instead? We act like we’re somehow special and people should be blessed to live here but if you come to Canada and all you’re ever going to do is work towards paying for a small apartment, you figure people would look at that and say what’s the point...
Those in debt would then have to work hard to pay off the debt they took on. And creditors (aka banks) that provided all those bad loans should also be eating a loss. But banks want taxpayers to eat the loss on bad mortgages the banks profited from creating. Its a fraud.
debtors prison type slavery for you and your children for the next several generations after the government takes on your debt for you. That's the great reset they keep talking about.
@@saretsky You really think the global bond market cares about Canada or real estate investors in any country? You come on man ... get your head out!!! Sounds like even you are drinking the cool aide. Stupidity does not beget even more stupidity ... on the way down there will be no "setting" of any prices.
Sal is expected to reach 42% for February. But then you got guys like Bill Ferguson telling everyone SAL doesn't really mean much. He also mentions that sales are only high because prices are down. He's been saying that the high sales from 2019 is due to falling prices. Be cautious when joining his channel "metro Vancouver housing Collapse", he still post under-reported sales and doesn't inform his viewers.
Ironically, money printing by the big countries is the driving force behind crypto currency's growth. Money printing has evaporated the trust in traditional currencies
I think the important here is that unlike Bitcoin or other Commodities there's an inherent cost of maintaining real estate such as property taxes and other expenses and as an investor you need a return which means they can only go up so much
@@CheekyMonkey888 that is true but the cost is still a lot less than maintaining real estate and virtually nothing if you maintain Bitcoin as a store of value
Great video- I’ve been staying away from crypto and real estate. And heavily investing in the psychedelic sector, and studying mental health. Still in the very infancy of the sector. Feels good to invest in something you believe in. MMED NUMI MYCO FTRP are just a few.
You better hold those stocks for 20 years and expect to lose all your profits within the next 5 years. Psychedelic industry is about 10 years behind cannabis and we’ve seen major volatility over the last three years in cannabis stocks.
Excellent video. But you see trading cryptocurrency requires more than just a primary knowledge of crypto. It is advisable to trade with an expert to avoid unnecessary losses. Trading with Mrs Josephine has been really productive. In fact i would say she is the best broker.
Wow it’s nice seeing someone else talk about Mrs Josephine, I can boost of being financially buoyant because of the massive profits i made from trading with her.
Mrs Josephine is really an expert, i was able to revive my family’s financial status with her help. I started with $1000 and i can proudly say I’m financially fit now.
BoC dumped 150 billion of junk mortgages from banks on taxpayers via CMHC at the very start of the pandemic in May, 2020. So if RE is not a bubble, how about handing that junk back to the banks and getting back our 150 billion + interest. RE is not a bubble as long as taxpayers are on the hook for bad mortgages it seems.
Single family home sales look like they will be roaring higher as we start 2021. Where i live (Walnut Grove) there is no supply. Almost all of the ‘listings’ you see on MLS are already sold (with accepted offers). As houses are listed they sell within days with multiple offers. The winning bids have few, if any, conditions. The question i have is what kind of price appreciation will we see this spring? 30% year over year price increases look possible to me. Holy moly Batman. Feels like a reality game of Monopoly. The wealth divide is exploding (those who own assets - real estate and stocks - and those who do not).
Smells like a trap personally. They let bags of cash in through the casino's, don't care about questionable money hitting the market. The governemnt has made so much money on every aspect of the housing bubble. Canada has a 60% ownership rate, so 60% of people are stoked on the gains. The only thing is eventually something has to give.
In your opinion, Steve what of these two options is most likely? 1. BOC is successful in inflating the debt away without losing control 2. Significant Housing Correction
Great job Steve, keep it up. Central bank ranchers will never state the truth to the cattle. Morgan Stanley putting $150 Billion into Bitcoin. Actions speak!
Credit is flowing like water Steve. As such, market is not frothy :-) Crazy how the CMHC can justify valuation on strong fundamentals. These markets continue to blow my mind and the next few years will be interesting. I wish I had held my BTC but needed the gains to help fund my house build. At least the real estate I swapped by BTC for is riding this wave. Crazy. Thanks again Steve.
Aren't people afraid of buying at the top of the bubble? Is the fomo that strong? "Be greedy when others are fearful and be fearful when others are greedy" ... I'm being fearful
A rising tide lifts all boats, but i think it was Churchill that said Socialism is like standing in a garbage can and trying to lift yourself up by the handles. I buy BTC because it is rules without rulers. All people are equal. If you own BTC, we are the same. There is no authority that can cancel, or mess with the money through inflation.
Yes, absolutely. Glad others can see this. Real Estate is the most egregious government back casino in the last 100 years. I’ll never have a nice home because they cost millions, but I made a few thousand on crypto and the central bank thinks its not legitimate. Home owners are the generational aristocracy of the real estate-financial complex and they have all the power.
Have you read "The wealthy renter"? The greenbelt's impact on supply and demand in Ontario is the reason prices keep going up. Also you have to look at the population of people in the home buying age... in the states after the bust of 2008 investment stopped thus creating a shortage of supply. My two cents. ♥ the content.
New goverment policy just comes out today & they commit target 400,000+ new immigrants 2021. Probably it is one of the factor that affects the housing market. I just a little bit shocked because of this news. They tried to lower immigration’s qualification to get more people coming here.
I think what’s become apparent in economics and maybe in politics as well, is the Main Street economy has taken a backseat to the market economy. The decision by central banks to prioritize market economy over main street economy has become more progressive over the years. So this means literally everyone has a hand in the market economy. Ppl wanting to purchase a home are desirous of a market that can help fulfill those needs when even the lowest price home requires a mortgage. That’s when things like Bitcoin come in, to provide relief from pricing pressures in housing. Banking is at the centre of all this, but the central bank had gone through a series of warnings of an overheated real estate market that fell flat. After a crisis like COVID to destabilize the housing bubble would impact the banking sector as a whole, so the Bank Of Canada has backed away from criticizing housing prices, and the stampede of real estate speculators has just gotten bigger.
bingo. the demand side of the equation is really strong in real estate as well. For everyone rich enough to participate in these crazy bidding wars, there's 10 more waiting in the wings for a crash.
I agree some people are losing faith in the system, but the average Joe isn’t thinking about the health of the economy. They’re jumping in because they see all markets going up and they want a piece of it.
With helicopter money raining from the sky, I wonder how long this can keep going and how much more expensive everything becomes. American money supply increased 25% in one single year and talks about another 1.8 trillion. Printing money to inflate away a depression.
In a speech Wednesday, Chairman of the United States Federal Reserve Jerome Powell echoed the urgency voiced by President Biden for a robust $1.9 trillion in additional pandemic aid to help shore up the struggling US economy
@@saretsky Whoops, your right. Shouldn't a 25% increase in money supply translate to a 25% increase in asset prices? Is that what we are seeing in stocks and real estate?
Do you think that we will run in to uncontrol inflation? If bank of Canada loses its AAA international credit rating. Are we getting close to this with obvious pumped up credit. I know people getting 3 million on a wooden bungalow in Surrey that was bought for 0.5 if this is not a balloon I wonder what it is. House in Nanaimo are going for over 1 million in Nanaimo. :) Steve what do you thing? Are we getting closer and closer to the end. I have seen this pattern before it ended with currency crises .
So, what you're saying is that house prices rocket up, but they don't crash down.... but then again, everyone's definition of a crash is different... If we are going to go through every turn in the future where nothing makes any "sense" anymore, then what do you think the lay person should be doing regarding purchasing real estate? just get in whenever you can afford?
What i find interesting and alarming are sharp people like Steve who have their niche expertise like real estate, crypto, silver, gold , and the stock market where they are all independently converging on similar opinions of critical dangerous economic fault lines and essentially heading to an economic reset. I would LOVE to get into RE but I won't right now for 2 reasons: a) too much money as a proportion of my overall assets to punch into one asset class which then exposes me to too much risk when things go pop. b) the numbers don't make sense as a rental investment. With a million dollar mtg nobody will come close to breaking even with rents. BTC just seems crazy to me. I do think the government will restrict it or ban it if it threatens their monetary policy sovereign power. There are many countries including Canada which have partial bans in the banking sphere on it. What makes sense to me are tangible commodities that are still affordable (for now) like gold, silver, uranium, copper, nickle, cobalt, graphite. Things we need to run everyday life or things valued from east to west for 1000s of years. Goona-be-interesting!
@@good2goskee I believe the above ground stock shrinking YOY, the fact we need it more in green energy, all the electronics, and its use as a store of wealth. The mines are returning less and less high quality silver every year, etc.
It's not a bubble, it's inflation in cost materials and construction labour markets due to a shortage and the various levels of money printing. Lumber increased significantly making affordable housing projects not viable for single detached homes, and local governments not wanting single family development in inner city areas. So that puts upward pressure on existing single family homes, that also seen an increase in demand as millenials and gen z move back in with their parents. In my opinion the housing market is undervalued based on the m3 money supply.
So Steve are you saying that hyperinflation is already here......because after hearing you say about prices increasing is due to a collapsing dollar and not because the value of the house is going up.....all asset classes are in bubbles with the exception of gold and silver witch are heavily manipulated to the downside.....but with every asset exploding we must be in hyperinflation.....sorry about that, I forgot we only have less than a 2% inflation rate lol
@Steve Saretsky Thanks Steve, I am heavy into crypto except my choice is ethereum, good luck.....I'm in it for greed , but I joined the revolution along the way
Steve, what are your thoughts on the Vancouver condo market? I'm heavily invested in the stock market, and have enjoyed nice gains. Also plan to put some gains into crypto as well to ride this. But I'm thinking to ride this bubble further in the markets and then getting in thr real estate market when rates start to increase a couple years time as they are predicting, which should drive asset prices down.
The exodus to Bitcoin and Precious Metals is a representation of a loss of confidence in the Fiat Currency. In times of printing to oblivion, the best way to protect your declining dollar is invest in hard assets. So I’ve stacked up my silver and waiting for JP Morgan to give up their SLV shorts. Which was just done this morning with a change in their prospective manager. Basically saying to SLV investors we might not have enough physical silver to cover investors shares.
@@andrewbrenner425 Andrew, no haven’t heard of it, I’m just, a cranky old man. With ideas, that are not currently popular. Like, if you don’t have the cash, you can’t afford it. Credit, is only for, things that pay their own way. That goes, especially for government, and personal use. If you have to work, for money, or for food, it wont kill you. Most of us, are confused, need and want, have changed places. If the west, stays politically divided, the CCP will .... us real bad. Courtesy, respect, and consideration for others, is the foundation, of civilization. Did i get, most of it?
@@billpetersen298 lol. You’re not grumpy- you’re wise. You’ve see this nonsense happen before and know what’s coming. Check his blog out... www.greaterfool.ca
@@saretsky Steve, i can only give you my experience. My first house, was a rental in Prince George, 1979, at %13.25. When the forest industry, went flat, a few years later. The tenants wanted a big cut in rent, then left. I lost my apprenticeship, a few other things personally went very wrong. Resulting in losing the house, and all of my wealth. That experience, shaped my view of what markets can do to you. Back in the market again. Two weeks before the Quebec referendum 1995. We renewed, with a split, of 5yr at %15, and 3yr at %18. The price of risk. We haven’t yet experienced, the follow through. Of ever increasing debts, at all levels, of our society. Without the moderating affect, of a price for risk. The unwind, will be spectacular to watch. But not to experience.
Im inclined to agree. at least with housing you get somewhere you can... you know... live... or rent it to generate income. why is there so many different cryptos? going all in on sushiswap for some reason. whatever TF that is.
Hard for relators to make a leaving in this environment without having blood in their hands.. relators with no conscious who is pushing their clients to buy over priced homes in bedding wars they will destroy lots of lives... you eat what you kill not a metaphor anymore
As a forex trader it’s almost inevitable that you’re going to experience some ups and down along the way, alertness and decisiveness are both fundamental ingredients in the recipe for a successful forex trader
Forex is not a magic, if you don’t seek proper advice from an expert you will definitely lose...it’s a learning process and will succeed only with proper guidance
Wasn’t there going to be a correction in the RE market from 2014 onward according to the “experts” on RUclips and online fora? Yet to see any signs of that. In fact, if you’d held off your purchase, you’d have ended up spending a lot more to get a crappier house. I recently bought in Ajax and for each detached house there were 12-15 offers pouring in! You’d have had to bid your socks off to get a home! For each house sold, there are still 14 people still left in the market with cash to buy. I’m not falling for this RE crash thing. I ended up buying in 2020 for about 200k more what I’d have got in 2017 for 200k less. Enormous appreciation! And, like I said there’s a lot more people in the market with $$$ The game“online experts” are all playing is to keep predicting doom all the time. Essentially, even a broken clock is right two times a day! Eventually they’ll be right and there’ll be a correction and they’ll all chirp in and say “see I told you”!
The thing with real estate is that if you sell and buy a house at the same time have you made any money or have you just bought a bigger house? If you refinance and borrow more money to buy another house, so that now you own 2 houses, who is going to pay the mortgage on those 2 houses? Remember, the trend is your friend until it isn't.
@@hawkmoon206 Your reply has got literally NOTHING to do with my post. If you overborrow that’s your issue. There are mortgage ratios and stringent checks on earnings that are done in Canada. I went through them as well despite putting over 20% down
Interesting Video thanks for the idea 💡
just got into bitcoin trade weeks ago and i already made more than $12,500. I wish I knew about this earlier, i would have been a new millionaire by now
The zenith of investment platforms deals mainly with Bitcoin and forex trading.. Invest and invest at the right time
Bitcoin should be transparent and it isn't as easy as people thinks It is, there are so many strategies to be learnt and unfolded about Bitcoin trading
@@vincentwatkins7807 I agree with you.. tryna make the best from investing
I'm new to trading and my presumption is that I'll be needing an expert to guild one through. But I'm a hit curlous about getting one
Pierre Poilievre is being moved out of the finance critic position. Funny how the only man in parliament who is calling out what the central banks are doing is getting booted out for doing his job.
I couldn't be more disappointed in O'Toole, he is Trudeau in a fat suit.
Pierre is completely incompetent.......if you actually understand what the fool says you will understand he spews out mutually exclusive scenarios one after the other to try and sound smart for some twitter clickbait like most right wingers.....Tiff was like well wtf you smoking and get to your actual questions.....then he's got nothing.
@@GreenBeanGreenBean I understand Pierre perfectly, your bafflegab not so much.
@@augustwest2931 I couldn’t agree more, there is only a sliver of difference between the two
Janet Yellen said to G7 couple days ago: "Time To Go Big Is Now". Don't be surprised to see Bank of Canada start to print out 6 trillion dollars or more in the next few years.
small towns are now becoming unaffordable. We have inflexes of a big city mentality. Property being bought up at a dizzying rate.
@Dirty Burger I am expecting a repeat of our debt crisis thanks to Jr.
Tesla actually bought in december, they just announced now because volume in btc is dropping and they re afraid their investment is gonna go south. Big players never announce until they ve been in for a while.
"I could sell, but where would I go..."
Mark these words.
@SA I'll say that high values purposefully drive people into areas they wouldnt otherwise consider. Alberta for example, depending on how your earn, is a beautiful wide open place.
@SA we are not locked down here in Lloydminster Alberta. What business are you in?
I’ve personally never believed that there’s only one place to live and it’s where your at. Maybe your selling your self short thinking there’s no options, in fact every satellite town outside the GTA has just about every convenience the core city has with exception of entertainment that’s currently been restricted. So.....what the benefit is depends on flexibility in job and needs. Timing with family might also be a consideration, but putting all these things aside reducing higher priced housing for repurchased a lower cost home might serve you well if the markets correct 20%. Since 20% of a $750,000 house is less than 20% of a $1.2 million dollar house. Never mind the obvious gain between what you sell versus what you pay. Maybe freeing up $400,000 in tax free capital is a game changer in learning to love your new hood? Much to consider!
@@greatchalla3799 great advice. Many people went from toronto to the Niagara region and ended up in absolutely beautifully built homes with money to spare. That's how you do it, not be afraid to relocate!
@@irszgatti many of our small towns are becoming unaffordable because people from areas such as Toronto are ditching Toronto and bringing big city mentality with them . When homes are bought up by people from Toronto looking for profit and then the rent is jacked up by $600 to Toronto price it destroys the affordable town.
The world is now look a casino.
It is refreshing to hear honest opinions from a real estate agent. Most only speculate
Vancouver land at 10 million an acre is insane.
I'll stick with my bitcoin.
Thanks to money laundering crooks like Steve.
Can you sleep in your bitcoin?
Why are 20 different people bidding on a house in Vancouver? There has to be an influx of people moving to B.C. whether it be from overseas or from other provinces. It's always supply and demand. Municipalities are making it next to impossible for developers to build. Just this week White Rock council turned down a 2nd proposal to replace a 56 year old building of 35 suites and replace it with a building with 80 suites. People in the neighbourhood signed a petition against it citing that it would increase traffic in the area. It's a classic example of, "Not in my neighbourhood" attitudes.
It’s called money laundering. I live in Chilliwack. Every buyer here is an Indian or Chinese for investment ....I mean money laundering. And it’s screwing everyone here who will never ever be able to purchase a house.
@@etbaby6967 bang on. Money laundering is the issue
Great insights. Would love to understand the impact of Bitcoin on real estate in the coming years
Canadian tax is in a bubble
Awesome video Steve. Keep em coming every Saturday
Value: ✅
Entertainment: ✅
My village has brown water and bad pressure. Half a million for a detached. In the 70s, people got a job at the furniture factories and had a detached and a family by Sept. I'm not expecting that, but heck we can do better in Canada.
The only way to against printing money is don't go to work, let the Government give us money. I want to see how long the government can give out free money without collecting back from the one who have assets.
1 BitCoin = 1 Vancouver 2 bdrm Condo
Not yet.... but soon
10 bitcoins can’t even get you a 1bedroom in Toronto.
@@indoguju yet*
Thanks Steve. More to think about. Have a nice long weekend!
Thank you for the great content. I am looking forward to reading Jeff Booth’s book The Price Of Tomorrow.
Rates can't go much lower and people's salaries are stagnant. There's more room for crypto growth apart from pullbacks since you can buy in much smaller amounts. Aren't we reaching a threshold with real estate where the average Joe just can't borrow anymore?
I'd rather be buying Crypto over Real Estate right now
Can't leverage 10 to 1 in crypto
Depends on mentality. I want the quick results. Wholesaling the Real Estate, putting the profits into Crypto.
Real Estate will always be here, and I believe there will be better times to buy.
Just my thoughts.
@@michaellauga1117 you can move in and out of Bitcoin very easily. I certainly wouldn’t hold it for too long. Don’t want to hold real estate if the big one comes. Leverage will sink you.
@@michaellauga1117 laughs in 100x Long on bitmex
@@michaellauga1117 You leverage crypto 40x. Where have you been?
They know the lost of faith in institutions is happening. Hence the “great reset” rebranding exercise. Opt out peacefully.
It seems the RE doomers have just pivoted from being bearish to picking an end of the current bull run sometime “into the future”.
This run has lots more legs to go. There are many ways they can and will juice this market.
I don’t say this as a perma bull, I say it because in the end, they have no choice. It’s really that simple. We have a few years left here people, at least. What happens after that? Who the hell knows. But it’ll probably be ugly.
Isn't it convenient that ownership is becoming increasingly complicated and difficult.
🙄🙄
*“Once a nation parts with the control of its currency and credit, it matters not who makes the nations laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile.”*
- Prime Minister of Canada, Lyon McKenzie King 👑 (1874 - 1950) on why private banks should not be handed control of the nation's monetary system, central bank or the creation of credit.
Easy, people generally can't handle the truth, and certainly hate it when history is involved in truth.
Our assets are only worth what we are able to pay for them. nailed it. Printing loonies haha, I think we can all smell what's next.
What think is next? Longer mortgage terms ?
@@sapper986 You can stretch that amortization to the moon, this thing will never double again.
Which asset class are you most confident in?
SNEAKERS & NBA cards.
Crypto is more speculative, real estate is less so.
Great work Steve. Really loving Pierre recently.
Thanks Steve.
Looking forward to great content from you Steve. We need more discussion on the Canadian market. Also, one topic that I try to talk a lot to my kids about is how to protect ourselves and navigate through the possible outcomes due this irresponsible management of our economy. Hope you can touch base on that again in your interviews. Keep it up!
Erosion in confidence in government around the world
Great content !!
Steve, my lumber and trusses costs shot up this year! What used to cost $30k, is now $60k. Resale market is matching that of presale market. Owning a house is luxury now. Costs of concrete also went up, and to top it of, noone wants to push a barrel of concrete on site... Trudeau should start importing people that want to work!
"Making more money from the appreciation of your house than from the salary" - Pierre Poilievre. Yup, my little old house is on par with my career in tech backed by an engineering degree and 15 years of experience. My student loan interest rate was 2x my mortgage rate. I would be so much better off if I invested in housing instead of in engineering. I guess our governments want a country full of gamblers instead of hard working contributors.
Trading housing and stocks is a pure luck. Most of the people who own houses in Vancouver are poor and without education. They think the are smarter then bankers and government 🤣 Your education gives you an ability to survive in this crazy world. Every asset requires maintenance and taxes. And only brain is maintenance and tax free) Wall Street and housing it’s a big scam.
There is no value one can put on knowledge and being able to think critically. There are opportunities out there all the time you need to just be able to identify and be in a position to take advantage of those opportunities. As well, what is good for Tesla, Warren Buffett, Bill Gates etc. is not always good for the average person.
@@allabershadska, thanks but my brain is not maintenance free, has to be fed and exercised every day.
@@hawkmoon206 I have taken many opportunities in engineering, that's why I work in tech now but even with that, I'd be much better off if I focused on housing instead.
@@firstlast4229 It’s not a maintenance, it’s an option) Unlike property 🤣. When you have leaky roof - you don’t have many options. That’s why Steve now promoting Bitcoin instead of real estate. Bitcoin doesn’t need maintenance and you can get out with one click, unlike smelly Kitsilano shelter for 3mils. But idea is the same - speculation!
There is a certain level of arrogance acedemia/government has to poke fun at bubbles in crypto and turn a blind eye to Canadian real estate. True definition of the swamp.
in my opinion real estate is not in a bubble cause immigration and speculation is virtually not at play. rates are low, driving the fervour for those who sat on the sidelines renting since 2016 waiting for that big market crash. trade up buying is also fuelling the market. And... rates will remain low and house prices are still lower than 2016 prices. and and and.... 1.3m in immigration lined up for the next years ahead. if two lockdowns didn’t crash real estate, nothing will.
There is extreme demand lead by super low interest rates and limited inventory. There isn't too much data on insolvencies yet but I expect it will be muted with all the money they are dumping. With the expected immigration policy we are adopting I would say the demand continues and house prices keep going up. Fundamentally speaking this makes sense. Bitcoin however is somewhere people are hiding out based on speculation. I think the two cannot be compared as one has intrinsic value and the other is bought based excess funds and sex appeal.
My question re: immigration. At what point do people looking to immigrate look at Canada and the out of control housing costs and not just choose to apply to move here and maybe look at other nations instead? We act like we’re somehow special and people should be blessed to live here but if you come to Canada and all you’re ever going to do is work towards paying for a small apartment, you figure people would look at that and say what’s the point...
The problem is........... that if the assets (real estate & financial markets) ever deflate.............the debt will still remain! What then?
Those individuals will still own it. They have to hold into the coming decades for it to raise or claim bankruptcy.
Those in debt
would then have to work hard
to pay off the debt they took on.
And creditors (aka banks) that provided all those bad loans
should also be eating a loss.
But banks want taxpayers to eat the loss on bad mortgages the banks profited from creating.
Its a fraud.
debtors prison type slavery for you and your children for the next several generations after the government takes on your debt for you. That's the great reset they keep talking about.
Da
@@saretsky You really think the global bond market cares about Canada or real estate investors in any country? You come on man ... get your head out!!! Sounds like even you are drinking the cool aide. Stupidity does not beget even more stupidity ... on the way down there will be no "setting" of any prices.
Sal is expected to reach 42% for February. But then you got guys like Bill Ferguson telling everyone SAL doesn't really mean much.
He also mentions that sales are only high because prices are down. He's been saying that the high sales from 2019 is due to falling prices. Be cautious when joining his channel "metro Vancouver housing Collapse", he still post under-reported sales and doesn't inform his viewers.
He rely's on data from mortimer lol
It all sounds like back in 2007, Fed said there was NO housing bubble, and as we know what happened in 2008.
Watched the big short the other day
and the middle and poor class will lose as usual
Ironically, money printing by the big countries is the driving force behind crypto currency's growth. Money printing has evaporated the trust in traditional currencies
I think the important here is that unlike Bitcoin or other Commodities there's an inherent cost of maintaining real estate such as property taxes and other expenses and as an investor you need a return which means they can only go up so much
everytime you use bitcoin, there is a 4% or thereabouts transaction fee
move it 20 times and what are you left with
@@CheekyMonkey888 that is true but the cost is still a lot less than maintaining real estate and virtually nothing if you maintain Bitcoin as a store of value
Great video-
I’ve been staying away from crypto and real estate. And heavily investing in the psychedelic sector, and studying mental health.
Still in the very infancy of the sector.
Feels good to invest in something you believe in.
MMED NUMI MYCO FTRP are just a few.
👍
You better hold those stocks for 20 years and expect to lose all your profits within the next 5 years. Psychedelic industry is about 10 years behind cannabis and we’ve seen major volatility over the last three years in cannabis stocks.
Excellent video. But you see trading cryptocurrency requires more than just a primary knowledge of crypto. It is advisable to trade with an expert to avoid unnecessary losses. Trading with Mrs Josephine has been really productive. In fact i would say she is the best broker.
Wow it’s nice seeing someone else talk about Mrs Josephine, I can boost of being financially buoyant because of the massive profits i made from trading with her.
I’m new to all this, how do I get in with your broker?
Investing in cryptocurrency is the best business anyone could venture into in this modern age.
Mrs Josephine is really an expert, i was able to revive my family’s financial status with her help. I started with $1000 and i can proudly say I’m financially fit now.
Please someone should drop a means of contacting her, I really need to start investing already.
BoC dumped 150 billion of junk mortgages from banks on taxpayers via CMHC at the very start of the pandemic in May, 2020.
So if RE is not a bubble, how about handing that junk back to the banks and getting back our 150 billion + interest.
RE is not a bubble as long as taxpayers are on the hook for bad mortgages it seems.
Single family home sales look like they will be roaring higher as we start 2021. Where i live (Walnut Grove) there is no supply. Almost all of the ‘listings’ you see on MLS are already sold (with accepted offers). As houses are listed they sell within days with multiple offers. The winning bids have few, if any, conditions. The question i have is what kind of price appreciation will we see this spring? 30% year over year price increases look possible to me. Holy moly Batman. Feels like a reality game of Monopoly. The wealth divide is exploding (those who own assets - real estate and stocks - and those who do not).
Smells like a trap personally. They let bags of cash in through the casino's, don't care about questionable money hitting the market. The governemnt has made so much money on every aspect of the housing bubble. Canada has a 60% ownership rate, so 60% of people are stoked on the gains. The only thing is eventually something has to give.
This sounds just like Australian
Strange lol
In your opinion, Steve what of these two options is most likely?
1. BOC is successful in inflating the debt away without losing control
2. Significant Housing Correction
Great job Steve, keep it up. Central bank ranchers will never state the truth to the cattle. Morgan Stanley putting $150 Billion into Bitcoin. Actions speak!
Credit is flowing like water Steve. As such, market is not frothy :-) Crazy how the CMHC can justify valuation on strong fundamentals. These markets continue to blow my mind and the next few years will be interesting. I wish I had held my BTC but needed the gains to help fund my house build. At least the real estate I swapped by BTC for is riding this wave. Crazy. Thanks again Steve.
Who takes the Bank of Canadá seriously 🤮
@@bilgisahibisin7621
Scam Alert
What are your thoughts on commodities Steve?
Aren't people afraid of buying at the top of the bubble? Is the fomo that strong?
"Be greedy when others are fearful and be fearful when others are greedy" ... I'm being fearful
A rising tide lifts all boats, but i think it was Churchill that said Socialism is like standing in a garbage can and trying to lift yourself up by the handles. I buy BTC because it is rules without rulers. All people are equal. If you own BTC, we are the same. There is no authority that can cancel, or mess with the money through inflation.
Yes, absolutely. Glad others can see this. Real Estate is the most egregious government back casino in the last 100 years. I’ll never have a nice home because they cost millions, but I made a few thousand on crypto and the central bank thinks its not legitimate. Home owners are the generational aristocracy of the real estate-financial complex and they have all the power.
If the BoC is saying BTC is a bubble while real estate isn’t, the right thing to do is likely sell RE and buy BTC.
Whatever the Bank of Canada says I tend to do the opposite
Have you read "The wealthy renter"? The greenbelt's impact on supply and demand in Ontario is the reason prices keep going up. Also you have to look at the population of people in the home buying age... in the states after the bust of 2008 investment stopped thus creating a shortage of supply. My two cents. ♥ the content.
How can banks approve lending for houses that were purchased over asking price?
I ask the same thing.
Who tf bids up the price of anything more than they have to, "oh you'll take 500k$, ill give you 650k$", thats stupid.
Have Peter Shiff on your show.
He would definitely pop that crypto bubble in Steve’s head
When do you think Shiff will reveal his bitcoin position?
Great insight Steve
if the money flow into Bitcoin，their “house market game” will be over. so they try to stop it
New goverment policy just comes out today & they commit target 400,000+ new immigrants 2021. Probably it is one of the factor that affects the housing market. I just a little bit shocked because of this news. They tried to lower immigration’s qualification to get more people coming here.
Still can't sell what I bought mine for 14+ yrs.
I think what’s become apparent in economics and maybe in politics as well, is the Main Street economy has taken a backseat to the market economy. The decision by central banks to prioritize market economy over main street economy has become more progressive over the years. So this means literally everyone has a hand in the market economy. Ppl wanting to purchase a home are desirous of a market that can help fulfill those needs when even the lowest price home requires a mortgage. That’s when things like Bitcoin come in, to provide relief from pricing pressures in housing. Banking is at the centre of all this, but the central bank had gone through a series of warnings of an overheated real estate market that fell flat. After a crisis like COVID to destabilize the housing bubble would impact the banking sector as a whole, so the Bank Of Canada has backed away from criticizing housing prices, and the stampede of real estate speculators has just gotten bigger.
Clearly people have the money.
bingo. the demand side of the equation is really strong in real estate as well. For everyone rich enough to participate in these crazy bidding wars, there's 10 more waiting in the wings for a crash.
I agree some people are losing faith in the system, but the average Joe isn’t thinking about the health of the economy. They’re jumping in because they see all markets going up and they want a piece of it.
With helicopter money raining from the sky, I wonder how long this can keep going and how much more expensive everything becomes. American money supply increased 25% in one single year and talks about another 1.8 trillion. Printing money to inflate away a depression.
In a speech Wednesday, Chairman of the United States Federal Reserve Jerome Powell echoed the urgency voiced by President Biden for a robust $1.9 trillion in additional pandemic aid to help shore up the struggling US economy
@@saretsky Whoops, your right. Shouldn't a 25% increase in money supply translate to a 25% increase in asset prices? Is that what we are seeing in stocks and real estate?
I'm so glad my friend introduced me to BTC. I also think that we will see a housing crash.
Do you think that we will run in to uncontrol inflation? If bank of Canada loses its AAA international credit rating. Are we getting close to this with obvious pumped up credit. I know people getting 3 million on a wooden bungalow in Surrey that was bought for 0.5 if this is not a balloon I wonder what it is. House in Nanaimo are going for over 1 million in Nanaimo. :) Steve what do you thing? Are we getting closer and closer to the end. I have seen this pattern before it ended with currency crises .
@@saretsky This is good news.
So, what you're saying is that house prices rocket up, but they don't crash down.... but then again, everyone's definition of a crash is different... If we are going to go through every turn in the future where nothing makes any "sense" anymore, then what do you think the lay person should be doing regarding purchasing real estate? just get in whenever you can afford?
@Steve Saretsky well, looks like someone's account got hacked...
RE and $ will be/are in hyperinflation against BTC.
Gas is $1.40 a liter with majority of travel shut down.. I think nonflation could make $100 a barrel a thing again.
can someone explain what pierre is on about? business as usual in other words since 2009?
Jeff Booth is great, he wrote an excellent book, The Price of Tomorrow. Look forward to it.
What % of your portfolio is crypto?
When Central bank digital currencies go mainstream crypto will be hurt drastically
Only people that dont own whole bitcoins say stuff like that
Good luck to you
People keep investing in RE till it will be positive cash flow property.
What i find interesting and alarming are sharp people like Steve who have their niche expertise like real estate, crypto, silver, gold , and the stock market where they are all independently converging on similar opinions of critical dangerous economic fault lines and essentially heading to an economic reset.
I would LOVE to get into RE but I won't right now for 2 reasons: a) too much money as a proportion of my overall assets to punch into one asset class which then exposes me to too much risk when things go pop. b) the numbers don't make sense as a rental investment. With a million dollar mtg nobody will come close to breaking even with rents.
BTC just seems crazy to me. I do think the government will restrict it or ban it if it threatens their monetary policy sovereign power. There are many countries including Canada which have partial bans in the banking sphere on it.
What makes sense to me are tangible commodities that are still affordable (for now) like gold, silver, uranium, copper, nickle, cobalt, graphite. Things we need to run everyday life or things valued from east to west for 1000s of years.
Goona-be-interesting!
Silver alone is going to surprise the b-jesus out of people.
@@donm2067
Ya?
What captures your eye about silver specifically?
@@good2goskee I believe the above ground stock shrinking YOY, the fact we need it more in green energy, all the electronics, and its use as a store of wealth.
The mines are returning less and less high quality silver every year, etc.
Chilliwack properties selling for 30% above asking in some cases, 1million for houses that were 500k not very long ago!
OMG! Who wants to live in Chilliwack village for 1mil) People are crazy 😜
It's not a bubble, it's inflation in cost materials and construction labour markets due to a shortage and the various levels of money printing. Lumber increased significantly making affordable housing projects not viable for single detached homes, and local governments not wanting single family development in inner city areas. So that puts upward pressure on existing single family homes, that also seen an increase in demand as millenials and gen z move back in with their parents. In my opinion the housing market is undervalued based on the m3 money supply.
So Steve are you saying that hyperinflation is already here......because after hearing you say about prices increasing is due to a collapsing dollar and not because the value of the house is going up.....all asset classes are in bubbles with the exception of gold and silver witch are heavily manipulated to the downside.....but with every asset exploding we must be in hyperinflation.....sorry about that, I forgot we only have less than a 2% inflation rate lol
@Steve Saretsky Thanks Steve, I am heavy into crypto except my choice is ethereum, good luck.....I'm in it for greed , but I joined the revolution along the way
Lol they’re both huge bubbles.. of course the bank says real estates not a bubble, they want to dish out as many insured loans as they can..
Crypto seems like a valid currency hedge.
Also I'm gutted that polievre lost his finance critic position.
Steve, what are your thoughts on the Vancouver condo market? I'm heavily invested in the stock market, and have enjoyed nice gains. Also plan to put some gains into crypto as well to ride this. But I'm thinking to ride this bubble further in the markets and then getting in thr real estate market when rates start to increase a couple years time as they are predicting, which should drive asset prices down.
I cant wait til you have Jeff Booth on. I do believe he is he understands this whole conundrum and always has intresting insights.
The exodus to Bitcoin and Precious Metals is a representation of a loss of confidence in the Fiat Currency. In times of printing to oblivion, the best way to protect your declining dollar is invest in hard assets. So I’ve stacked up my silver and waiting for JP Morgan to give up their SLV shorts. Which was just done this morning with a change in their prospective manager. Basically saying to SLV investors we might not have enough physical silver to cover investors shares.
Real estate is king right now especially if they continue this manure show with printing. Detached house will be over 2 million by spring.
Until we run out of greater fools.
@@billpetersen298 are you a reader of Garth Turner’s greater fool blog?
@@andrewbrenner425 Andrew, no haven’t heard of it, I’m just, a cranky old man. With ideas, that are not currently popular. Like, if you don’t have the cash, you can’t afford it. Credit, is only for, things that pay their own way. That goes, especially for government, and personal use. If you have to work, for money, or for food, it wont kill you. Most of us, are confused, need and want, have changed places. If the west, stays politically divided, the CCP will .... us real bad. Courtesy, respect, and consideration for others, is the foundation, of civilization.
Did i get, most of it?
@@billpetersen298 lol. You’re not grumpy- you’re wise. You’ve see this nonsense happen before and know what’s coming. Check his blog out... www.greaterfool.ca
@@andrewbrenner425 Thanks i will.
Being grumpy, is the only joy, i get out of this. Wink wink.
Very interesting.
BTC over BoC all day. With crypto nearing a market cap of 1.5 trillion dollars Bitcoin is now the world's largest bank.
See you on the other side of this turning
It only feels like 07-08, because you haven’t experienced a big one.
@@saretsky Steve, i can only give you my experience. My first house, was a rental in Prince George, 1979, at %13.25. When the forest industry, went flat, a few years later. The tenants wanted a big cut in rent, then left. I lost my apprenticeship, a few other things personally went very wrong. Resulting in losing the house, and all of my wealth. That experience, shaped my view of what markets can do to you.
Back in the market again. Two weeks before the Quebec referendum 1995. We renewed, with a split, of 5yr at %15, and 3yr at %18. The price of risk.
We haven’t yet experienced, the follow through. Of ever increasing debts, at all levels, of our society. Without the moderating affect, of a price for risk. The unwind, will be spectacular to watch. But not to experience.
Im inclined to agree. at least with housing you get somewhere you can... you know... live... or rent it to generate income.
why is there so many different cryptos? going all in on sushiswap for some reason. whatever TF that is.
@Steve Saretsky ☝🏿
Can Bitcoin survive CBDC?
Yes....it will do even better
Regular fiat or digital fiat
Same shit different pile
@@tomdenk6334 Can it survive cronyism?
Damn CMHC now tweeting you. That’s when you know you’ve made it lol.
Hard for relators to make a leaving in this environment without having blood in their hands.. relators with no conscious who is pushing their clients to buy over priced homes in bedding wars they will destroy lots of lives... you eat what you kill not a metaphor anymore
@@saretsky unfortunately Not all relator think like you!
LOL.. Bank of Canada 🇨🇦 making not so intelligent comments about the Crypto market. When will they learn?
Housing is over priced, it’s value is way less then it’s price.
On the other hand crypto has no Value
Price is what you pay, Value is what you get.
They won’t learn. They’re clueless, and yet they think they are smarter than us.
the biggest bubble is gooberment
As a forex trader it’s almost inevitable that you’re going to experience some ups and down along the way, alertness and decisiveness are both fundamental ingredients in the recipe for a successful forex trader
Forex investment has really changed many lives and made many people all over the world millionaires
You can only appreciate a person who tries to teach everyone how to invest and make profit on multiple ways ups and down
The forex market is by far the biggest most popular market in the world, traded globally by large numbers of individuals and organization
Forex is not a magic, if you don’t seek proper advice from an expert you will definitely lose...it’s a learning process and will succeed only with proper guidance
The importance of professional mentorship of an expert should be the first step of trading
Wasn’t there going to be a correction in the RE market from 2014 onward according to the “experts” on RUclips and online fora? Yet to see any signs of that. In fact, if you’d held off your purchase, you’d have ended up spending a lot more to get a crappier house.
I recently bought in Ajax and for each detached house there were 12-15 offers pouring in! You’d have had to bid your socks off to get a home! For each house sold, there are still 14 people still left in the market with cash to buy.
I’m not falling for this RE crash thing. I ended up buying in 2020 for about 200k more what I’d have got in 2017 for 200k less. Enormous appreciation! And, like I said there’s a lot more people in the market with $$$
The game“online experts” are all playing is to keep predicting doom all the time. Essentially, even a broken clock is right two times a day! Eventually they’ll be right and there’ll be a correction and they’ll all chirp in and say “see I told you”!
The thing with real estate is that if you sell and buy a house at the same time have you made any money or have you just bought a bigger house? If you refinance and borrow more money to buy another house, so that now you own 2 houses, who is going to pay the mortgage on those 2 houses? Remember, the trend is your friend until it isn't.
@@hawkmoon206 Your reply has got literally NOTHING to do with my post. If you overborrow that’s your issue. There are mortgage ratios and stringent checks on earnings that are done in Canada. I went through them as well despite putting over 20% down
Bulls make money, bears make money, pigs get Slaughtered. Dont fomo