Toronto housing market hits the brakes: Realosophy realty
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- Опубликовано: 7 сен 2024
- John Pasalis, president and broker at Realosophy Realty, joins BNN Bloomberg to discuss current trends in the real estate market. He says increased inventory and changing sentiment are slowing down the market.
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If the current crises are NOT resolved sometime soon, especially the Housing Crisis, and if the standards of living do not get improved, there will be SERIOUS & DEVASTATING Social, Economic, Political, and Security Challenges for Canada ahead.
The Housing Crisis in Canada is a DIRECT Challenge to Canada's National Unity, Safety, Stability, Security, Sovereignty, and independence.
I don't think that politicians and people who own homes have any real idea hoe p.o.'d people stuck in the rental market are.
Trudeau and the liberals will be the first casualty. I think they could be brought down much further than the establishment thinks.
yep and Canada will continue to accept foreign buyers and the price will continue to rise! and the wealth gap will continue to grow.
Ive been looking at the same recycled listings since Aug 2021, they keep the price and just keep saying no to reasonable offers.
Fvcking ridiculous. Im hoping for a recession to beat all recessions, that way people will come back to Earth.
🤡🤡🤡
Alot of sellers are delusional...including alot of airhead realtors
What? I was just talking to my mortgage broker and real estate agent last week. Homes in the suburban GTA are still listing for 990 and selling for 1.2. I see a new listing, call my agent, and find out it sold already, for 200K over asking, in less than a week. Unless something changed in the last 48 hrs…
Time will tell
I dont give a flying fuck what anyone says. Until we decommodify housing, until we make housing a human right and until we adopt a similar "housing first" model as they have in Norway, I refuse to take them seriously or believe that they truly care about the housing issue. period.
Properties vacant for more than 3 months, should be subject to huge fines,to stabilize the market.
stupid idea !
Communism yes
@matrixripp09 "As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent for its natural produce"
--Adam Smith, The Wealth of Nations
What frightens me is that people agree with your comment. Freedom to contract is a foundational freedom. I don't like greedy landowners, but 3 months is not much time. Maybe you are a supporter of Karl Marx.
That is idiotic.
They need to build more rental units in high rises that are geared towards families and people who are working. Soundproofing!!!!
High rise units are not geared towards families. Children need front and back yards. The Soviet Union built high rise sardine-can apartment housing like this. Maybe you think the Soviet Union was a great idea.
@@YnalawNice in theory, absolutely not practical. Besides there millions of kids growing up in condos in other Western cities..m
@@Matt-YT Maybe you have been drinking the ESG purple Kool-Aid.
While most Canadians are on a vacation in August (for most, last kick at summer heat), sales slowing down 🤫
Boc must hit the breaks on high price housing keep applying mortgage rates and house prices will cool down.
Now watch as the builders halt construction as prices drop.
And they will go work at Tim hortans instead? 😂
@@fofal what the hell is tim hortans
@@goylanddefree80 OK..I'll help you out. It's Tim Hortons with a spelling mistake 😉
I hope the speculators go bankrupt
Me too. There are so many canadian speculators out there screwing up people. So if they lose money, well, no problem for the rest of us ! lol
@@Carolinapetroska"[Landlords] are the only one of three orders whose revenue costs them neither labour nor care, but comes to them, as it were, of its own accord, and independent of any plan or project of their own. That indolence, which is the natural effect of the ease and security of the situation, renders them too often, not only ignorant, but incapable of that application of mind"
--Adam Smith, The Wealth of Nations
Imagine trying to sell your home with refugees living in garages, and tents in your neighbours backyard in Toronto.
Hey i am renting tents in my backyard, 500 per month per tent, i have 50 tents lol
Keep voting left!!! They won't tell you it's communism until you're lined up for your bullet. Fools
Yeah unfortunately that's what's happening and it's disgusting. All those drug addicts in Toronto and Vancouver and all other big canadian cities. So you can't even take a pleasant walk because they leave all kind of trash behind them, and so on.... Also, the problem is getting worse and the government had that wonderful idea of creating all those stupid injection sites downtown Toronto so you can see a line up of all those junkies everywhere. I am so glad I was able to dump my condo before the problem got worse and it's getting worse by the day !
Toronto and GTA is a stain on the planet
So many new listings from new buildings coming out and still no buyers interested, even after price reduction. That's a sign that the Toronto market is DEAD !
So when will I be able to buy a house that does not cost me 10x my current salary??
Both these experts on the show are nuts. Town houses in Milton are listed at a million dollars
Housing has become a product of financial speculation. Too many people have bought a large number of housing in order to gain housing appreciation, and some people rely on rent from tenants to finance their housing. The housing market is not sustainable, especially in a rapidly rising interest rate environment.
Affordability non existent.
Just wait till rates inevitably come down in the next 2 to 4 years whenever that may be. Dropping rates is going to skyrocket housing prices even further. If you think they're unaffordable now, think again.
Rent has already gone up. The only time it went down was the pandemic when a bunch of people left the core to stay with their parents in the burbs and stack up cash they used to start the housing boom. It's not like people are not paying the new averages. They are.
It'll go up but there has to be an upper ceiling.
@@rajastylez the ceiling will only crash when immigration goes down and/or more houses start getting built. Supply and demand cannot be circumnavigated.
That will not happen unless income rise to match housing prices will stabilize over the long term people have such short mommies houses are supposed to go up at the rate of inflation or 3-4% per annum what happed over the last two years is not normal and will never repeat again.
@@thegreatgasby3415 oh yeah? Supply needs to go up and demand needs to come down for housing prices to go down. Housing prices don't care about wages. The only way for housing prices to go down is immigration has to go down and builders needs to build 10x the homes that they are building now which won't happen any time soon. Rates went up by 4.5% in the last 1.5 years and housing prices BARELY came down a little bit. That tells you everything you need to know.
It’s not like people are deciding to be lifetime renters rather than buy so there are not actually less buyers, there will just be a pent up amount of buyers down the road.
Great video! Average prices in the City of Toronto (not GTA) for total residential homes is down by over 10% from the 2023 year-to-date high in May. We shall see if the BoC increases rates again on September 6th or holds.
there could be many reasons that average price goes down. for example, if condo/townhouse% goes up in sales, the price will goes down since condo/townhouse are cheaper than detached houses.
intensify blind bidding and double ended deals...I failed
investor is another word for scalper
If people die of hunger it will reduce inflation
-Bank of Canada
You reap what you sow
grocery bills cost 50 dollars more, its inflation. lets increase interest rate controlling food bills and now paying 2-3k more in mortgages easy putting money in banks and corporation. BS reports came out showing inflation is down lol
So Vancouver Still In the clouds
😂 when really comes it’s going to be a 💥
would love to know what makes John an expert? just another brick in the wall
my neighbour is a real estate agent...on the other side a lawyer..
Pasalis got that face people wanna punch 🥊
every seller is desperate..that is why they sell
Philsophy Real Estate...I failed
No money no funny
Collapse soon!
you need to have a really nice photo...and be able to move your mouth counter intuitively
Both full of CRAP...not cooling off at all...still Overpriced homes..
Someone is in denial 😂