Are Rate Cuts Coming? All Focus is on Real Estate. 2023 Canadian Housing Market.
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- Опубликовано: 7 сен 2024
- More real estate collapses and new home fires. What will the Bank of Canada do this week? Early statistics from across Ontario and Calgary which include huge losses in 4 regions.
links/references:
• Retaining wall collaps...
www.collingwoo...
financialpost....
The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
Investing in both real estate and stocks can be a great idea, especially if you have a solid trading strategy to guide you during prosperous times. It's all about diversifying your investments and maximizing potential returns!
You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
@@hasede-lg9hj Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Actually, I'm not sure if I'm allowed to mention this, but I'd recommend looking up Sharon Ann Meny because she was a big deal in 2020. She manages my portfolio and serves as both my coach and my manager.
Just research the name Sharon Ann Meny. You’d find necessary details to work with a correspondence to set up an appointment.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I've shuffled through investment consultants and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit. For me, ‘’Stacie Lynn Winson” turned out to be better and smarter than all the consultant I ever worked with till date, I’ve never met anyone with as much conviction.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I literally have the money/equity to buy a new home, but I wont. This is also if I take 30% off my home's current value. Also i dont care if rates are 6% or 7%. Im not paying 700k for a home that someone paid 350k for three years ago. Just not happening.
It's dumb money that's all that is left now.
Only a fool would buy… or a criminal
I don't think so, you just need to crunch the numbers and figure how much building costs are. Then factor in supply and demand in the rental market, investors are the true pricers of RE.@@andrewb5412
@xyz1663 some people are going to be forced to buy or go find another rental after being kicked out when the owner sells their rental. That means they either suck it up and buy now or pay twice as much or more for renting the same quality of unit.
@@Joe-mz6dc No. U can’t squeeze blood from a potato. Canadians are poor and simply wouldn’t have the means to buy even if prices crashed 70%. Toronto & Vancouver prices are driven by money laundering & speculation. Normal people have been priced out of market 15 years ago. People can, will, and do leave.
Why is it always "catastrophic" if the housing market "crashes?" Most Canadians do not own a home and would welcome a "crash." The choice of words used is interesting to me psychologically. Thank you for your videos Jon!
Totally agree. Prices are still well above 3 years ago.
Because RE represents you huge portion of our economy. Politicians would find it catastrophic because their net worths would tail spin...lol
One man crash is another man treasure 😂🎉
those who would welcome it, will lose their jobs before they even get a chance to collect a down payment. Only small part of those sitting on the sidelines will profit of it, corp investors will probably get the most.
Vancouver homeowner hoping for a crash. This is such a joke. No one can do anything because we're all stuck in this stupid bubble evaluation doom loop.
Real estate agents got there faces on bus stop benches like their stars. Make me puke....
Wow, never saw this happening, people with modest jobs and $700,000 mortgages. What could possibly go wrong?
Lots of deals here in Alberta in some places. Except Calgary and Edmonton. We paid $300,000 in Grande prairie Alberta. Sold our house in BC for double that. We're not rich but we'll be ok without a mortgage.
why Grand Prairie?
@@MustyBastardjobs and not that far from Edmonton to fly international if you want.
What's the deal "fly international"? If you're flying internationally, you can easily add 2 hours to your trip by being away from a city with international airports. It's not like if you're going to work and dealing with traffic; you're not flying everyday.
@@mr2_mike🙄you're crazy Edmonton airport is not an international airport--it serves as an domestic airport. Tell me where you can fly to & from Edmonton internationally? A true international airport is Toronto, Vancouver & Montreal. That's it. Not even Ottawa is a true international airport !
True. It's a transfer but really that's the best you're getting up on that area.
Holy smoke, can't believe the real estate is collapsing this crash is going to be epic.
The special interest group in Canada, so-called economists and bankers (Multi Millionaires and Billionaires) first worked hard to stop the Bank of Canada from raising the rates and now they are working hard to cut the rates.
They know for a fact if rate cuts don't come soon enough they will be out forever.
That's why they are lobbying hard the federal and provincial governments to put pressure on the Bank of Canada to cut the rates.
Raising the rates was for a simple reason to slow down inflation and asset prices.
By cutting the rates again, the inflation, asset bubbles plus housing crisis will be back on again.
The multimillionaires and billionaires (so-called Economists) have missed the point here, The Canadian economy and banking sectors need a huge RESET, and as long as it does not happen, the Inflation crisis and asset bubbles will continue well into the future.
A $0.20 to $.25 drop in gas prices won't cool the inflation rates.
House prices in Canada must be DEFLATED by at least 66%, if not, the weak economy will not survive.
With growing Geopolitical Tensions and Conflict around the world especially in West Asia and growing risks to Global Energy supplies, the risks of Inflation will be on the horizon again.
Raising and cutting the rates will affect the consumer's confidence and that is the last thing you want to see.
Rates will continue to be elevated throughout 2024, 2025, and 2026 and possibly beyond.
Inflation is here to stay for decades if not, for a generation.
I understand you have documented several of these home fires. Have you ever followed up to see if arson charges were ever laid against the builder?
Hard to catch them though
There's been a fire in burlington as well yesterday North of Dundas Street
Rates should never go below 5%. Low interest rates over the last two decades unleashed our greed- we are consuming at the expense of our future generations. Low interest rates also created this so-called investors who are nothing but opportunistic parasites; gamblers who buy and sale false assets (stock, crypto etc.) but don't add any real value to our economy. Low rates are the reason for our housing becoming eventually unaffordable.
Only way to fix Canada medium/long term is for housing to crash.
Lots of cameras required in New Townhouse construction areas to check who is setting fire at 5 am
Can’t believe they didn’t have them
They tried rate cuts in the 70 and 80s, we all know how that ended up.
How many waves of inflation will we get this time I wonder 🤔
I hope the topic of that mess comes up every time they meet for a rate decision. If they start lowering we could very well see history repeat itself.
House in Calgary selling for one dollar.
I made 1.6 mil off crypto already this year 😅
@@TheTruth-cg8vj which area I’m wondering!
the US gov't needs massive amounts of money. That drives up interest rates. Canada cannot go to 0 or our dollar goes to 0. We are beholden to the US rates.
Definitely
'Accidental' BBQ fires everywhere at three am. Totally normal.
Who party at 3am?
Thanks for keeping us informed. A life-lesson hard earned for me is to pay much more heed to what people do over what they say. BofC Governor can hint all he wants, doesn't mean we should hold our breath for big cuts in 2024. 3 reasons: 1) US debt is fuelling bond yields, rates the Canadian banks must compete against. (2) BofC will not allow the housing market to dictate the economy, and we all know real price correction is the only way to normalize the economy. (3) Without the actual 2% inflation target achieved, BofC has tied its hands and must reach this or will spook the markets; and what are sure signs for you and I, (as history shows) are likely not even data points to them. Clear signs only...
My attention span won't keep up... let me remind everyone of the 900 ton guerrilla waiting in the wings called US debt ceiling crisis. A divided Congress still has to wrestle this beast, as the problem was merely kicked down the alley last time. It will soon show again and markets won't be happy, yields will climb and rates will follow. Just saying.
The big cities will be fine, the secondary home market is where the crash is happening because increases were fueled by HELOC's and variable rate mortgages.
I don’t have a dog in this fight, but, if history repeats itself and all hell breaks loose again, I really can throw all my degrees and such in the trash can. I will just do my best to keep my thoughts to myself. Fwiw, rates need to stay higher for longer. Not popular but it is what it is.
Yup. You are absolutely correct.
It's a double edged sword, unfortunately. A no win for everyone. Prices are simply unnaffordable right now. And for prices to become affordable, a huge number of Canadians need to be put under financial stress because they have big mortgages on negative equity properties. The bank can only hope that house prices decline slowly over several years so that homeowners can gradually absorb the inevitable hit to their wallets. I doubt the bank is even thinking about inflation. They are more worried about the number of Canadians sitting on the edge of financial ruin thanks to debt financing.
Oh and prepare to have your kids living with you into their 30's. Unless you want to finance their home purchase.
Sad and most likely true
Canada elected a part-time drama school teacher as their Prime Minister, a Journalist as Finance Minister, a Graphics designer as Minister of health. Then they turn around and wonder why shit has hit the fan.
Fair, But our next leader is going to be a person who has never had a real job other then working on the hill.
Pierre Poilvere has no higher education either. In fact he never held a real job in his life....he is no different than Trudeau and Chrystia Freeland.
Voting is a suggestion box for slaves. Clearly. Lol
Of course rate cuts are coming. Nobody knows when.
The best thing to do really is look at central bank rates globally, and check all the countries in a similar situation to ours... you can see the last rate increase and what the current inflation numbers are, and what the rates are. Our interest rate was not raised to the same degree as US or UK, but current core inflation numbers are similar 3 point something. Which country will be the first to flinch and start rates down? I don't think there is a compelling reason in Canada to reduce rates at all at this point.... at least it wont be material enough to save the mortgage crisis.
The central banks job is not to save people from their mortgage situations. It has nothing to do with them. It is around employment numbers and inflation. Full stop.
I feel Canada won’t be able to act much until the U.S. does and their unemployment rate just went down.
@@jonflynn exactly. The BOC can't do rate cuts in isolation, anyone suggesting they can has no idea about global finance. Can you imagine the effects of a decoupled interest rate on the Canadian dollar and it's effect on currency and inflation?
The answer here is very obvious to the problem. Real estate in markets like Vancouver and Toronto with rates that no investor or owner can pay mortgage costs on. Inflation inputs of rents will ensure this is done, because cost of rent is part of the equation... and how the leveraged landlords come to those due to ridiculous financial commitments on borrowing, is not the problem of the BOC, or Canadian citizens. Let them feel the pain, and hard, like they should.
Time for small communities in places like Nova Scotia, Vancouver Island and other areas to implement a “foreign” buyers premium/tax. We have watched as the foreign buyers have help destroy Toronto, Vancouver Victoria and other areas. Meanwhile those people that sold move into the areas that traditionally were small communities and these markets now become unattainable for the locals. How is that not a foreign buyers situation.
Or on another note they buy up lake front, oceanfront and use those as a summer get away. Not doing anything for the community. We have seen that a lot of Vancouver island.
“The mass of men lead lives of quiet desperation..." ― Henry David Thoreau
Thanks for the comment
Hey Jon, I was just reading about new townhouses in the Blue Mountains that got burnt down a couple days ago. After watching your video a few weeks ago I'm not surprised
There was just another one today, will be adding to the list for next video
Oh isn't that interesting. It's not like all of the greed and criminality around the real estate industry in Canada is going to cause us any problems now is it?
God bless Alberta. Only place in the entire world where housing prices are the same or lower in a lot of areas than they were in the early 2000's. For all the people who say Alberta is too cold and use that as an excuse to pay 1m for a shoe box in Toronto, it was 18C in Calgary today and almost 10C in Edmonton - we have zero snow on the ground . These loses make me all warm and fuzzy inside.
The coldest winter I've ever experienced was a summer in Calgary.
@@TheTruth-cg8vj the smelliest thing I've ever endured is a day in the GTA!!!
Calgary is a happening place now. I was born and raised there but left many years ago when I thought it was too small. I go back to visit family and see it becoming a world class city. It’s a nice place to raise a family in a house that’s reasonably priced.
Yes, I heard Calgary is the next Bahamas.
@@markhoffman right behind Hamilton
Canada is screwed
We are a lost generation of people with no
Good jobs, pensions, unions, affordable housing
Food
All in 8 years
Hopefully we can fix this soon.
All. By. Design.
@@Joe-mz6dcThe biggest wealth transfer in the history of the world. Sheep to be sheered.
There's a lag for the market to adjust. The prices will take time to adjust to the higher interest rates. So, prices are likely to continue to fall. This year has been a buyer's market in the GTA with sales almost down 50% from the previous years.
Still no inventory here in Van
Thats strange considering housesigma is reporting record high amount of inventory in the metro Vancouver area. Are you aware that looking outside your bedroom window for sale signs is not an accurate depiction of the market?@@G_Ellis606
@@G_Ellis606 BS. There are plenty of listings that no one can afford. Last I heard there was over 14000 listings and few buyers. And that goes for just about every major city in Canada except for the Calgary area, but that area was overly depressed to begin with.
Why is Burlington and Hamilton lumped together?
2 different boards and also 2 different markets. Lots of low end detached homes in Hamilton especially the downtown core and pretty rare in Burlington (tear downs are almost at 1M)
So this is what happens when you treat the real estate market like the stock market.
Rates need to go up more, not lower!
You can 100% own a home. Most of out of GTA detached houses are around 550-750,000.
Thousands.
Toronto Condos now are under 550,000. Hundreds of them.
I have a ton of clients buying for these prices.
Have patience and focus on your career.
The most important in Canada.
There are 100% hopes for all of you.
Just believe in you.
140 detached houses sold in London under 750,000.
43 detached houses sold in Niagara Falls under 750,000.
41 detached houses sold in Kitchener under 750,000.
20 detached houses sold in Barrie under 750,000.
51 detached houses sold in Kingston under 750,000.
241 Condos were sold starting with November 1st in Toronto under 550,000.
The Greater Toronto Area, commonly referred to as the GTA, includes the City of Toronto and the regional municipalities of Durham, Halton, Peel, and York. In total, the region contains 25 urban, suburban, and rural municipalities. Niagara, London, Kitchener and Barrie are not part of GTA.
The only way those numbers make sense is with 1-2% mortgage rates
I think we are going to see another 10% reduction in those prices. Combined with 3%ish regular rates in Canada, we should be fine in 2024 2025. This will be the new norm. Kind of the 2020 before covid prices, but not everywhere. GTA is still very overpriced. Makes sense. It's like Vancouver, Monaco, etc. @@jonflynn
Cuts seem to be coming in the spring. Some are saying April 10th, from what I'm reading, however between now and then the rates will definitely squeeze out some real estate owners. Not expecting huge rate cuts.
Looks like it.
Everything is still over inflated.. I dont see rate cuts even next year or for a few years
For god sake we must save the realtors and mortgage brokers.
What I do know is that if there are any realtors that want to offload an Infinity QX80 I would be willing to take it off them.
Idongivafuk bout agents
word from indeed is that Realtors are the newest group to sign up for job searches.
Hello Jon Flynn, it is interested to hear all the real-estate updates. Really insightful. !! I would like to request if you can u do a video dedicated to Vancouver (Greater Vancouver, Maple ridge, Pitt meadows, Langley etc.) focusing on the 2024 outlook. Thanks in advance.
Thanks for the comment. I don’t know a lot about those areas but can see what I can find
Alberta has higher inventory overall. More affordable. More freedom generally speaking too.
Thanks for the comment
It really doesn't matter if the rates go down. Befopeople are in trouble anyways not the rich, but most your bills are too high per month.
It's catching up give it a couple more years it'll show even more
Greed drove the prices up and fear will drive them back down !!! Lowering rates will cause more havoc.
Pls correct me if I’m wrong, just ran trebs sale data numbers and was roughly including golden simcoe all that 100000. That’s not even 1 each..
"20% next week" I better buy some US dollars
Our dollar is weak. I don't think Bank of Canada is able to reduce interest rates with these bond market conditions. Federal government has borrowed a lot of money, through short-term financing, and all of that needs continual rolling over. Actually, having written these words, I wouldn't be surprised if rates increase from here next summer. Our dollar no longer acts like a petrol-based currency. That was the only thing really saving the Canadian dollar so we are pretty much pooched at this point.
People always forget about this. If our dollar drops below 65¢, prices increase by 15% overnight. That's some brutal inflation.
They can't cut without the Fed.
Prices in Markham will double by the end of 2025 if the Bank of Canada cuts the rate to 3 percent. Prices are rising already as months of inventory has fallen to 2.7 months.
Fools and their money…
West Vancouver million dollar vacant house went up in flames last night.
Ctvnews Vancouver has the info.
Would you add that to your list or just new construction?
I was just sticking to Ontario new homes fires because the list was too big when I added other provinces
Nobody cutting any rates , look at china housing market , that is canadas housing market future
China has negative population growth. Canada has one of the highest per capita. Not the same at all.
i have to wonder if the Guelph increases are tied to them agreeing to be a smart city? Could be a case of speculation or even reward for going along w the narrative - companies / funds keeping prices up
I know someone who is looking to move from Guelph because of the smart city initiatives.
What did being a self declared "smart city" change that wouldn't normally?
Remember, it's not a collapse until people sell at a loss. Your property taxes and valuation are based on recent sales. So, until people sell at a loss, you will continue to see your property tax assessments charge you based on current values.
Do you have any opinion on the Calgary market? Any signs of it decreasing?
Not yet, they’re in a different cycle it seems
interest rate cuts are not enough, in fact they should be rising. real estate investors will need to succumb to the pain before it gets better. airbnb ban will help speed things up a little bit.
Rates cut will happen when the turd has already gone thru the fan.
Banks are bracing for impact.
Smart people are getting their money out of Canada
The housing market is only falling apart in Ontario. The rest of the country is barely off peak prices. If BoC cut now they’d be making a huge mistake and inflation would rip.
I agree, they’re in a real tough spot
It's horrible in Northern Alberta. I just lost $125k selling my home.
💥👍🤸🌈💫🎆🧨🎁🎊🎊🎉🎉🎉.
🥁 Let the party start!!
Even a 50 percent drop wouldn't make Canadian real estate in it's expensive markets affordable. This country has been very mismanaged...
Good point
Need 80% drop
Thank you for the good report. Did you see any rebar in that wall collapsing?
I wonder if the percentage of new construction homes burning down is significantly higher than the percentage of existing residential homes burning down?? If it is something is definitely up!
Good point, wish I knew
I laugh at you people who think a 1/2-point cut is going to save you. RE in Canada was all built on 'free money" not on relative wealth generating abilit6y. Anyone who owes more than $500K is going to lose everything with the coming inflationary depression..
And deservedly so. Greedy people will face the music.
A crash is the only answer... but the gov't won't let it happen
Well said
No cuts. It's official.
@@yvesgingras1475 it was a probability
I know a little bit about insurance and I don’t see how torching your own project gets you out of financial trouble.
I don't understand the fires. I assume they want to collect insurance to cover their high inputs. But could they sell the unfinished dwellings to individuals or another construction company at par or even at a loss and insurance company (with an entirely new type of construction insurance product) top up the difference??
It could be pre construction speculators that can’t close so setting fires to delay the closing
let them sleep with rats in prison
A lot more Developers and Homeowners will be burning down their properties in the future.
Most likely
Will prices in Kingston and area ever drop? my god it's expensive here
I know what you mean they need to come down 200-300k at least but I know that sounds crazy to people. what's crazy is 3 years ago a semi-detached was 300+k now it's 500k, any realtor or broker if you told them in 2019 a semi or even townhouse would cost 500-700k would think your totally nuts but here we are. Kingston is slowly coming down but it's not enough, you need make easily 100k, have no debt, and have 100k to throw as a down payment by yourself and that should get you a 500k house but with the taxes and high cost of living you won't be living a great life.
2023 for the most part was no reaction to higher interest rates on prices as they lagged so let’s give this correction a year and see where we are December 2024. At this point we are only in the third earning of the real estate baseball game. If the new normal for rates get cut its because unemployment has went up which is not good for housing and everything else. The feds won’t cut rates for real estate they will cut it for economy stalling so we all better hope for stable rates.
Jon there have been several in Burlington near walkers and Dundas. Most recent just this week.
Thanks for the info, I saw the one after I made my video. Will include next week
Great work Jon. Would you be able to also report on Dufferin County area?
Rates come down prices of real estate will go up and debt will keep going up
This new construction fire phenomenon is mind blowing to me.
You missed the fire at Walkers Line and Dundas Street Burlington
I recorded it on Sunday, will add it to the list for next weeks video
What happens if the largest bubble in the world continues to expand and expand.
Civil unrest
What percentage of your sales are all cash sales? In the USA it’s about 25%
Very low
4 homes just burned down under construction in North Burlington
It's only the homeowners that are in deep and the related markets that are convinced that rate cuts are around the corner. For the first time they're being reminded that they're not actually all that rich. Unfortunately for them, most of the people in this country, and several generations have been left behind in the dust. That's a bigger problem than people being forced into houses and cities they can actually afford. Sorry, your millionaire lifestyle isn't coming back. Good riddance!
Justin traiter canadas biggest real estate agent sold is out a long time ago 😊
Not collapsing fast enough!
Rate cuts can cause a bull whip effect
“SOLD UNDER ASKING” “NOT COMING SOON” along with bidding wars and all the shady tactics, snooty attitudes realtors used is a nice sign.
1955 house prices!
Are we there yet? 😊😂
I wish
All markets are on the verge of collapsing, too much debt and no way of paying it off. We're over our heads with debt. The bubble has broke and in for a reset!
Sounds like contractors not being paid
Its About the Time.
Thanks for the comment
Why would they cut rates? Crash the damn housing market if u want a better canada
What about Ottawa?
Bubble, crash, sell
They have to put all those "New Canadians" somewhere 😅
Don't forget your form 325 and 326!! lol
The national housing crisis will not be solved any time soon, expect at least a decade or even longer.
8 million units of shoe-box size rentals would cost taxpayers between $2.3 to $2.8 Trillion, a heavy debt load on the burden of at least 6 generations (130 to 150 years) to pay off. Any newborn in Canada will have between $100,000 to $120,000 in debt to start life.
Nope
I have comments on your other videos relating to this but this may be the wrong video, sorry…..
Sorry Jon but we will not be getting the rate deduction today from the Banksters, they are not our friends, but to the billionaires they are BFF's in every sense.
Edmonton will boom next year.
Hahahahaha loving the intro.
Thanks
Fraud fraud fraud.
Rates move down? Hope not, because that means the economy is screwed and they need to stimulate.
Yeah it is rocket science. Here are the fundamentals- low supply and we aren’t building. And demand will remain high with a growing population and millennials looking to buy. Rates cuts will happen next year long before big renewals are due. Next year will be 2019 prices so who cares. Bigger loan renewal will be 2025-26 when rates will most likely be 3.5-4. Prices have already flattened and prob be stagnate next year with a slow rise later next year probably. Meaning there is no crash. House prices will be higher in 5 years than today. I have been saying this all along. Buy when you can afford. People who bought at the peak got a high price with a low rate: people today get a slightly lower price with a much higher rate so mortgage is even higher than it would have been a year ago. Prices in a few years will be higher than today with a lower rate. Essentially buy when you’re ready but sooner rather than later. Get in when you can. John talks about the same bullshit every week about houses crashing and he wants it to happen for whatever reason. It’s not happening and it hasn’t happened. If I’m wrong I hold myself accountable unlike John who is a perma bear and will never admit it. But if he doesn’t this whole channel is a scam. Also remember, people coming here just want a better life. I feel down the road we will just have more people renting over owning because prices aren’t dropping to “affordable” levels
Translation-I never want my house to drop. Who cares about everyone else.
It’s not about what I want. It’s the basic fundamentals of supply and demand and the fact banks and govt won’t allow housing to crash. If you don’t like the cost of living in Canada, then move. I wouldn’t blame you.
It’s not about what I want. It’s the basic fundamentals of supply and demand and the fact banks and govt won’t allow housing to crash. If you don’t like the cost of living in Canada, then move. I wouldn’t blame you.
@@rosatipicks You can't in you're right mind believe that the cost of housing makes any fundamental or technical sense.
@@markz1013 oh it doesn’t. I never said it should be this way. Just because war in gaza doesn’t sense; at the same time it does given the parties involved. We shouldn’t be paying these prices but poor policies has led to this. And it won’t be fixed by govt or even the free market at this point.
Another click bait video!! The sky is falling....and only Jon can see it, but don't worry he'll help you see it (for views/clicks/likes). In the GTA/Southern Ontario I've not seen the cliff drop in prices Jon has been claiming are happening, have you? People have been saying the bubble will burst for decades. Nobody can predict the future, it's about RUclips money.
Haha, if it was about money I’d be advertising my real estate services.
Sounds like the long stocking person under a new handle John. Ignore the trolls
Once interest drops and it will due to a possible mild recession next year the real estate market will go UP ( prices ) again due to one simple factor....the supply and demand rule.
Canada has the LOWEST housing stock in the G7...that won't change...especially with mass immigration..right now home builders aren't building much due to less customers due to high interest rates...once interest drops you then you have a pent up demand AGAIN because now people can afford the mortgage payments...most builders right now are building rentals...and a few custom homes but very few of those.
In reality everything is related to interest rates..interest rates = affordability it's that simple...
Insurance scams
Obviously those fires are reffered to as Jewish lighting.
Who benefits from the pre-con fire?
Less housing = prices hike
I’m guessing ppl who bought and can’t close and are trying to extend the closing.
@@moelo5930 that’s risk going to jail.
@@jdengskyhaha jail? There’s no prosecution in Canada never mind that there’s no law enforcement… no one will be arrested it’s a joke
First??
😂😂😂😂
No it isn’t