Lender Sells House for $199,000. Big Losses in the Last 30 Days.

Поделиться
HTML-код
  • Опубликовано: 12 сен 2024
  • As bank sales continue to increase I bring you on the ground data of recent sales and losses from the properties involved, also recent reports from beaches in Ontario forces local realtor to issue a public service announcement to fellow citizens. Lastly is CMHC doing their job ensuring Canadians have a place to live and real estate remains affordable? My followers weigh in on this topic and the results aren't good. #CMHC #banksales #foreclosures #realestateinvesting #news #realestatebubble
    Links/references:
    betterdwelling...
    www.cmhc-schl....
    www.taxpayer.c...

Комментарии • 306

  • @kortyEdna825
    @kortyEdna825 Месяц назад +332

    I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.

    • @brucemichelle5689.
      @brucemichelle5689. Месяц назад +3

      Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

    • @Justinmeyer1000
      @Justinmeyer1000 Месяц назад +2

      Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.

    • @NoorJari406
      @NoorJari406 Месяц назад +2

      This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.

    • @Justinmeyer1000
      @Justinmeyer1000 Месяц назад +1

      ‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

    • @NoorJari406
      @NoorJari406 Месяц назад +1

      Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

  • @MianHussnain-tu1wi
    @MianHussnain-tu1wi Месяц назад +20

    Invest in the financial markets before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth

    • @katiekilbo
      @katiekilbo Месяц назад +1

      I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Sir Brian! Imagine I invested $50,000 and received $190,500 after 14 days

    • @nandojuace
      @nandojuace Месяц назад +1

      Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

    • @LolMan-qy9cc
      @LolMan-qy9cc Месяц назад

      Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.

    • @quantarrow
      @quantarrow Месяц назад

      Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

    • @IshrakHossain-rt8is
      @IshrakHossain-rt8is Месяц назад

      Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

  • @paulhanusiak4291
    @paulhanusiak4291 Месяц назад +29

    The CMHC helps affordability as much as the carbon tax reduces pollution.

  • @LupeBaptista
    @LupeBaptista Месяц назад +72

    Just made a home sale sitting on $545K equity, not sure where to go from here. Is it a good time to buy into stocks or do I stay 100% cash?

    • @heatherholdings
      @heatherholdings Месяц назад +1

      I wouldn't stay 100% cash, banks are ruining us in real time with inflation. I'd suggest you employ the service of a seasoned advisor

    • @Wisniewski-d
      @Wisniewski-d Месяц назад

      True, despite having no prior investing knowledge, I got fully invested just before the pandemic and pulled $150k in profits that same year. In reality, all I was doing was following professional guidance, and as of today, I'm only 10% shy of a million dollar portfolio.

    • @EShepard-
      @EShepard- Месяц назад

      @@Wisniewski-d real estate prices exploded, interest rates exploded, but my wage the same, i'm screwed! who is your advisor please, if you dont mind me asking? i'm 56 and need to catch up with investing

    • @Wisniewski-d
      @Wisniewski-d Месяц назад

      She goes by ‘’Katherine Nance Dietz’’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

    • @Makingriot
      @Makingriot Месяц назад

      excellent share, just copied and pasted Katherine Nance Dietz on the web, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal

  • @daiseman
    @daiseman Месяц назад +49

    It didn't take long for poop and real estate to be discussed in the same video. Welcome to Canuckistan!

    • @Doug-zl8nb
      @Doug-zl8nb Месяц назад

      Thanks for pointing these idoits out canadians new cousins

  • @natheayn6111
    @natheayn6111 Месяц назад +18

    Hey Jon, just wanted to emphasize that the losses on these places is potentially even higher even than these estimates because of carrying cost. A 600k loan at 5% costs $3500/month so if you sit on it for 6 months thats ~20k in losses.
    Like you said, transaction fees, lawyers, inspectors, realtors also take their pound of flesh...
    A $720k house that you hold for 6 months and sell for the same price could easily be a 50k loss (20k carrying+30k if a 4% realtor fee). And many more fees to be sure.

    • @jonflynn
      @jonflynn  Месяц назад +4

      Very true, thanks for the comment

  • @CanadianMaple-k7d
    @CanadianMaple-k7d Месяц назад +9

    Great job as always Jon! BOC, CMHC & OFSI are interesting bodies out there without any real purpose for us Canadians.

  • @muzaffar9503
    @muzaffar9503 Месяц назад +4

    I am not Indian but the short clip you shared, hopefully you will also share the videos where they are facing racism. A whole community shouldn't be blamed or ashamed for the act of few individuals. Bad people are in every community. I can see many racist comments here and hopefully you will answer them too. Thanks.

  • @ant31891
    @ant31891 Месяц назад +18

    The worst economic collapse we have ever experienced in most of our lives is coming in the next 6 to 18 months ( maybe longer). Not bearish or bullish, this will be historic and painful. Buckle up folks!!

    • @davidhughes6048
      @davidhughes6048 Месяц назад +2

      Easy tiger. You don’t know and I don’t know how bad things will be. There will always be buyers, and money will pass from weak hands to strong hands, but the reality is….we don’t know.

    • @Joe-mz6dc
      @Joe-mz6dc Месяц назад +1

      Sure. Keep us posted.

    • @truthteller6743
      @truthteller6743 Месяц назад +5

      The US housing 08/09 housing crash didn’t bottom till 2012. Patience.

    • @ameliavv1019
      @ameliavv1019 Месяц назад +3

      I totally agree with you. I've been telling people this and no one listens!

    • @kintectribe2219
      @kintectribe2219 Месяц назад +1

      You are 1000% right

  • @kevanashworth8689
    @kevanashworth8689 Месяц назад +22

    00000 endless zero’s . Our government can’t be this stupid. They must be trying to destroy Canada one family at a time.

    • @dougiep2769
      @dougiep2769 Месяц назад

      Banks have done it.. sorry but banks are the king makers ...they choose who gets elected.. started during the free trade... they took the power from the people and gave it to corporations

    • @chilibaldrr840
      @chilibaldrr840 Месяц назад

      I have been telling people this, most don't believe that this is malicious intent by the federal government to destroy the middle class, this build back better agenda 2030 garbage.

    • @althunder4269
      @althunder4269 Месяц назад +4

      Yes.

    • @elim7228
      @elim7228 Месяц назад

      Yes. All a planned demolition and they even put a ski-(masked) instructor in charge of it.

  • @andrewvader9077
    @andrewvader9077 Месяц назад +16

    Should somebody buy only on Net income? I feel gross doesn't show how much we are taxed lol

    • @planesandbikes7353
      @planesandbikes7353 Месяц назад

      Some will just buy with cash, despite not terribly high income.

    • @SuperRakshit007
      @SuperRakshit007 Месяц назад +1

      Exactly. Counting gross income as basis doesn’t make sense to me.

  • @timscott53
    @timscott53 Месяц назад +16

    I don't recall people complaining about CMHC when prices were going up. Funny how suddenly the problem is everywhere else but the realtors and buyers who did stupid things.

    • @davidmanchester8978
      @davidmanchester8978 Месяц назад

      I think you're wrong here. People who care about overpriced housing in Canada would have been complaining about CMHC all along. This is not recent. CMHC has created a systemic problem with real estate valuation across the board. It removed risk from reselling mortgages in Canada. And it did that 80 years ago. Through CMHC, the government backs the mortgage securities 100% if insured by CMHC or 80% if a private insurer is involved. It makes MBS more like a government bond. So what do you think the banks do to their lending practices when there is no real risk of losing money and a great deal to gain by skirting those bothersome rules of lending?
      If you fail to pay back a car, the lender will repossess the car, but the joint taxpayers of Canada do not have to bail out the bank that issues the car loan. And so that default risk must be duly processed by the lender who avoids issuing risky loans. I hazard to say the Canadian banks have not been duly processing risk for their home loans for some time... And who would you fault them in this case? CMHC contributes to a woefully skewed market. Surely not the sole contributor, but a major problem nonetheless. It seems like it started with good intentions perhaps? but I have no insider information on that point in history.

    • @Hurtin_Albertan
      @Hurtin_Albertan Месяц назад

      @@davidmanchester8978 unless you put 20%or more down, correct? Then the loan is not backed by CMHC?

  • @danbutcher8879
    @danbutcher8879 Месяц назад +2

    These are outliers, exceptions to the rule. When banks, corporations, and the money printing feds are buying in, do you really think they'll let this drop go on? MAJOR intervention is coming to pump it up and keep the artificial manipulation going. Canadian housing WILL NOT collapse. Ever. Cut the cost of any property in Canada by 80%. THAT'S the actual value. Anything else is fluff.

  • @MyCityToronto1
    @MyCityToronto1 Месяц назад +6

    Home ownership is a thing of the past.
    Even with price reductions of $200K - $300K from the peak, it's still not enough to help 1st time buyers enter the market.
    The elephant in the room is the sheer number of investors in real state; who continue buying up the majority of the inventory; ultimately driving up prices.
    Housing needs to return to being viewed as a necessity; not a commodity.
    A lot of real estate investment is driven by FOMO.
    Many aspiring investors are inspired by all the HGTV shows urging them to invest in real estate.

  • @althunder4269
    @althunder4269 Месяц назад +23

    I know of several sales in the Fraser Valley BC with losses of over $500K

    • @markhoffman
      @markhoffman Месяц назад +1

      Real loss, or paper loss?

  • @lambofan2024
    @lambofan2024 Месяц назад +9

    The average IQ in India is 76.25. It is NOT the minority that are the problem.

    • @sovereignty14
      @sovereignty14 Месяц назад +5

      💯 Everything, from societal stability to ethnoculture, is driven by averages & aggregates. 5% or 1/20 of any ethnoculture behaving like this is far too much… but this guy says, “great statistics…”!

    • @parkerbohnn
      @parkerbohnn Месяц назад

      Thewy're not the dumbest race on earth. If they went to school instead of never going to shcool it might be differnt

    • @sovereignty14
      @sovereignty14 Месяц назад

      @@parkerbohnn , nobody said, “…the dumbest race on earth…”.

    • @TheTruth-cg8vj
      @TheTruth-cg8vj Месяц назад

      Those national IQ ratings are stupid as hell. The same way Shanghai, China gets the highest IQ by excluding the least academically able from testing, most third world national IQ test include people who have never sat down and taken a test in their life. An IQ 76 means people are barely capable of functioning (reading, writing, math) and certainly that's not the case of India.
      Did you know India have a tradition of writing textbooks going back thousands of years?

  • @jassibrar8418
    @jassibrar8418 Месяц назад +14

    They poop all over the trucking business too 😳

    • @marshferguson4737
      @marshferguson4737 Месяц назад +7

      My friend is a truck mechanic!!! He says it's all over the axles! He started refusing to work on them as per health and safety! He said they cut holes right in the floor of the truck ffs

    • @kintectribe2219
      @kintectribe2219 Месяц назад +1

      ​@@marshferguson4737Yes that's true. I saw it with my eyes. They cut the floor in the middle and they work as a team driver...So they don't want to loose time for washroom and they do thrue the holl on the floor. Al that waste come to drive shaft and after everywhere on the truck. I bring my truck to local guy for service and he was so mad and call me come and see this. He drove truck out and bring my inside and then he called them and tell them I don't want to work on truck like this even if you wash it.

    • @elim7228
      @elim7228 Месяц назад

      ​@@marshferguson4737😮😮😮 whhhhat???

    • @Doug-zl8nb
      @Doug-zl8nb Месяц назад +2

      They have destroyed the trucking industry...in many ways

    • @Hurtin_Albertan
      @Hurtin_Albertan Месяц назад

      ​@@marshferguson4737my son in law says the same thing!

  • @jessefaw
    @jessefaw Месяц назад +8

    prices are still fairly high tho but moving in the right direction. I just hope prices continue to drift lower in 2025 and 2026

    • @bobwinters5572
      @bobwinters5572 Месяц назад

      Only in southern Ontario. Everywhere else in the country, these policies and rates are just driving prices up and keeping inventory non-existent.

  • @carlsapartments8931
    @carlsapartments8931 Месяц назад +8

    well said GARY

  • @planesandbikes7353
    @planesandbikes7353 Месяц назад +4

    The beach thing is kind of funny but misinformed. 5% of the whole population of all ethnicities are incorrigible, antisocial and perhaps criminal or mentally unstable by nature. Maybe some of the latest arrivals are still adjusting to Canadian cultural norms but I only have praise for the south Asia community, which is productive, ambitious and really positive for Canada, especially by the 2nd generation. One thing I'd like to see is a tougher immigration policy which disallows seniors in whom are not going to work and yet require a lot of our health care resources.

    • @jonflynn
      @jonflynn  Месяц назад +2

      Great comment thanks

    • @Hurtin_Albertan
      @Hurtin_Albertan Месяц назад +1

      Completely wrong! They're rude and tribalistic. They can't understand simple things like waiting in a line

    • @mr2_mike
      @mr2_mike Месяц назад +1

      Personally all medical and services should be based on your years of employment in Canada. Regardless of type of job. CRA taxes paid.
      1 year is 5% covered, 2 is 10%....
      Under 18 based on family employment but elderly... Go drain your own system back in China.

    • @mr2_mike
      @mr2_mike Месяц назад

      ​@@Hurtin_Albertanwife pointed out that there is lines for every thing in other countries too. We are not unique. They're just pushy and try until they are hit back like an animal.

    • @MS-ii1sv
      @MS-ii1sv Месяц назад +1

      So why is it only now becoming a thing in Canada? Were Canadians doing this the whole time?

  • @MemineAussi
    @MemineAussi Месяц назад +9

    My dude, where in heck are the house sales in Niagara Falls going for $200k? Are you sure you didn't confuse NF NY for NF Ontario? Nothing up here goes for under $400k unless the house is about to fall over.

    • @Alex-kb9rd
      @Alex-kb9rd Месяц назад

      It sold for 379, was listed for 199. Jon is wrong here. Check it on house sigma
      6139 FRANKLIN Ave
      Niagara Falls

    • @ericparadis7882
      @ericparadis7882 Месяц назад

      Thats the power of sale.

  • @markhoffman
    @markhoffman Месяц назад +1

    Best real estate show on RUclips. Honest clarity. Keep it coming.

  • @ontariorob1400
    @ontariorob1400 Месяц назад +7

    The CMHC sets a floor on prices. If loans were not insured by the government, banks would have a loan risk threshold that lends less to borrowers. The CMHC effectively takes away risk from the banks and thus sets a higher floor on home prices

    • @markb8360
      @markb8360 Месяц назад +1

      Spot on.

    • @grizzlegreezz9696
      @grizzlegreezz9696 Месяц назад

      Keep telling yourself that.. if it makes you feel better.😅

    • @ontariorob1400
      @ontariorob1400 Месяц назад

      @@grizzlegreezz9696 econ 101 dingus

    • @davidmanchester8978
      @davidmanchester8978 Месяц назад +1

      Absolutely correct. The organization serves no purpose. I'm not exactly sure how it ever did. It is government subsidized housing but the system was designed to serve individuals having a hard time getting loans circa 1950 not a system where real estate is an investment (today).

  • @alanmcclelland5245
    @alanmcclelland5245 Месяц назад +4

    As soon as I saw the clip about CMHC bonuses, I felt like throwing my tablet at the wall...................just managed to restrain myself.

    • @davidhughes6048
      @davidhughes6048 Месяц назад

      @@alanmcclelland5245 Damaged drywall not covered by Tarion warranty, fyi.

  • @markfox5171
    @markfox5171 Месяц назад +4

    Just before the pandemic cash infusion my house in keswick sold for 638 k. It was a detached house in simcoe landing. 2 car garage around 2500 sq ft. A correction was taking place just as the pandemic 400 billion cash infusion. My house is still listing for 300 k more. That will need to disappear before we return to the pre pandemic stimulus. I anticipate that my house would have bottomed out around 575. It would niot surprise me at all if that happened

    • @TheTruth-cg8vj
      @TheTruth-cg8vj Месяц назад

      When the banks get in trouble, they no longer give mortgages. Indeed, they start to sell the mortgages they hold at a discount to build liquidity. For people who have to sell it reverts to a cash market. That's what happened in the US 2008 to 2010. Price accordingly.

  • @psoneill813
    @psoneill813 Месяц назад +1

    Wow... pooping on the beach... what the hell?!

  • @roseoverdose6451
    @roseoverdose6451 Месяц назад +16

    pooping on the beach NEEDS TO STOP!!!!

    • @marshferguson4737
      @marshferguson4737 Месяц назад +2

      I had no idea people were pooping on beaches 😂 gross!

    • @markb8360
      @markb8360 Месяц назад +2

      @@marshferguson4737 then you’ve never seen the signs asking them to stop bathing in the toilets, either. Yes, for real. Immigration standards are literally in the crapper.

    • @marshferguson4737
      @marshferguson4737 Месяц назад

      @markb8360 I need to get out more I guess! I'm in Ontario

    • @joshs3436
      @joshs3436 Месяц назад

      @@marshferguson4737 years its been happening.. THIS IS WHY CANADA IS A SHIT HOLE NOW BECAUSE SHEEP WHO DONT WANT FACTS JUST MSM NEWS

    • @Doug-zl8nb
      @Doug-zl8nb Месяц назад

      Canadian government needs to be lock up and the snake at the top ..they have destroyed canada

  • @AnnoyinglyCharming
    @AnnoyinglyCharming Месяц назад +4

    so many people are desperate to get out

  • @sewnsew6770
    @sewnsew6770 Месяц назад +1

    Great to see some house prices declining

  • @shanmarg
    @shanmarg Месяц назад +5

    Its all this Jagmeets Singh's followers coming from Punjab junglees. Shame.

  • @pjakubek
    @pjakubek Месяц назад +3

    shut down CMHC, and watch how quickly the market goes back to normal...

  • @althunder4269
    @althunder4269 Месяц назад +8

    I am against pooping on the beach.

  • @Dertrend
    @Dertrend Месяц назад +1

    Someone should dig up how much stuff gets approved under the CMHC new to Canada program. Im pretty sure its a lot.

  • @Generic321
    @Generic321 Месяц назад +7

    I've been waiting 16 years for this news

    • @tcmazz
      @tcmazz Месяц назад

      And what were the prices back then? 50% less?

    • @althunder4269
      @althunder4269 Месяц назад +1

      @@tcmazz yes.

    • @hc8129
      @hc8129 Месяц назад

      lol keep waiting, this guys just engagement farming off desperate idiots.

  • @harbingerview
    @harbingerview Месяц назад

    Having a power of sale law as in Ontario is not legal in most provinces. Lenders can sell properties and put out the owner with little legal requirements. This is all a big scam; only in Ontario. Buying a home is dangerous in Ontario. Miss a payment and the lender can kick you out without any legal determination. Then you lose your equity and the lender profits from screwing the home owner.

  • @joebazooks
    @joebazooks Месяц назад +2

    lets gamestop the cdn RE market. nobody buy just yet. keep holding out

  • @tammyvibes87
    @tammyvibes87 Месяц назад +1

    Would you please do a deep dive into Windsor-Essex? On one side I see homes selling fast and over asking. But then people I know are trying to sell their homes and can't sell. Under the 500k average too. We have a really high unemployment rate. Thank you for your insights.

  • @brendalabranche365
    @brendalabranche365 Месяц назад

    It’s not just all about the GTA.. Northern Ontario towns are never mentioned

  • @ajithantony5674
    @ajithantony5674 Месяц назад +3

    6139 Franklin Ave is sold for 379k according to realtor websites????

  • @MegaSnowman35
    @MegaSnowman35 Месяц назад +7

    We need more advertisements like this one.
    Yes, thank you.
    N.D.P. need to clean up their act.
    Think about it.

  • @BomalNeloAnagrm300
    @BomalNeloAnagrm300 25 дней назад

    Very astute research. Ontario is def. the Wild East. Un/fortunately, it seems that here in suburban Metro Vancouver the high prices are staying high. Someone I know just sold their "fixer-upper" (their words, but serious understatement due to no reno and heavy cigarette smoking for the past 30+ years) 850 sf. condo in a 50+ yr. old building for $450k!
    I'd like to sell (own outright), but I'm afraid that even in a smaller town/rural area where I'd like to move to, the prices will drop substantially more at some point. Difficult to decide how to time it.
    Also, thank you for omitting reading the racist comment about black women. They are already almost erased from the media and entertainment and news stories mostly feature them as perpetrators or crazy. Hoping Harris gets into office--for the optics--and, of course, because she'd make a better president.Trump really does seem c-r-a-z-y.

  • @stevenschuster
    @stevenschuster Месяц назад +2

    Thanks Jon!

  • @rosatipicks
    @rosatipicks Месяц назад +1

    Home prices have been solid in my area. Selling for or over asking. No crash. No respectable home is selling for under 600k in southwestern Ontario.

    • @jonflynn
      @jonflynn  Месяц назад

      That’s the problem. I’ve got some first time buyers you can brag about that to.

    • @rosatipicks
      @rosatipicks Месяц назад

      First time buyers need to adapt and navigate the market or move elsewhere. Complaining and playing victim is so unattractive. Your channel breeds betas.

  • @bdawg333
    @bdawg333 Месяц назад +1

    Isn't DEI great? Who needs fertilizer, right?

  • @aiqueenla2786
    @aiqueenla2786 Месяц назад +6

    Oh man, I was eating when I saw him saying poops

    • @Ali-vx9zf
      @Ali-vx9zf Месяц назад +2

      That's inconvenient

    • @davidhughes6048
      @davidhughes6048 Месяц назад +2

      Oh man, I was pooping when I read your comment about eating.

    • @stevendefehr4393
      @stevendefehr4393 Месяц назад

      Me too!!!! Shocked he included that lowlife act on his great real estate channel!

  • @MichaelThoman
    @MichaelThoman Месяц назад +10

    Money laundering?

  • @modaloperator99
    @modaloperator99 Месяц назад +1

    Can you recommend an agent in Clarington, ON who shares your perspective on the market and is trustworthy/ reliable? I'm looking to buy in Clarington.

  • @harbingerview
    @harbingerview Месяц назад

    Te CMHC: Gangsters! You pay them say $10,000. Added to your mortgage and they only insure the lender not the borrowers.

  • @VangeliRock
    @VangeliRock Месяц назад +6

    Popping on the beach? Is that a real thing?

    • @travisbickle1455
      @travisbickle1455 Месяц назад +5

      Yes...seems that more black and brown people are doing it.

    • @retrogamer82
      @retrogamer82 Месяц назад +4

      🇮🇳 people are doing it

    • @stevendefehr4393
      @stevendefehr4393 Месяц назад +3

      Cultures with NO CLASS 😢

    • @elim7228
      @elim7228 Месяц назад +1

      Some are finding our beaches very relaxing. If you know what I mean.

    • @golftownpro999
      @golftownpro999 Месяц назад

      Dig a hole...poop in the hole... forget about it and don't think about anyone else

  • @Manny-gf9gm
    @Manny-gf9gm Месяц назад +2

    There goes Wasaga beach real estate prices ⬇️...lol

    • @TheTruth-cg8vj
      @TheTruth-cg8vj Месяц назад

      TO needs poop discounts too. Afterall, you have to be careful where you walk there too!

  • @sgg00dchild
    @sgg00dchild Месяц назад +1

    On CHMC question, eliminate CHMC and the Banks would be more risk adverse avoiding bad loan i.e. bad mortgages defaults to CMHC and Canadian tax payer to pick up the tab. So CHMC is indirectly encouraging the banks to turn a blind eye on borrows capability to make payments, those that can't past the Stress Test. This is insane corruption at the banking level and CHMC, but its' good for the banks but sucks for tax payers.

    • @jonflynn
      @jonflynn  Месяц назад

      Exactly

    • @TheTruth-cg8vj
      @TheTruth-cg8vj Месяц назад

      CMHC is bound to have minimal qualifications for issuing insurance. When a claim comes in and they do an investigation, like any insurance company they can claim this particular case didn't meet the issuing standards and they won't be paying the claim.

  • @TheTruth-cg8vj
    @TheTruth-cg8vj Месяц назад

    Sit back and get the popcorn ready - when that old recessing /depressing roles in, it's going to be a financial disaster that bound to take one or more of the major banks down (or send the CDN dollar down to .30 cents US to "save them" at your expense.

  • @CristianEnacheRealtor
    @CristianEnacheRealtor Месяц назад +1

    So I know a seller who contacted me in 2022. Told the price: 4.7 M.Since then, with different agents, not me, tried to sell the property from $8Million down to less than $6Million. In 2 years. After 2 years, still not sold, out of market, trying to convince me to bring them an investor, at their price. Sometimes, people don't wish to admit the reality. Not my fault....It happens...unfortunately for them...not for us... :(( York Region Seller.

    • @planesandbikes7353
      @planesandbikes7353 Месяц назад +1

      Dude, if they don't have to sell they don't have to price it at the low price that pays you a quick easy commission lol.

    • @Billy97ify
      @Billy97ify Месяц назад

      Dreaming of investors now, are they??

  • @edubmf
    @edubmf Месяц назад +3

    He stops reading out numbers around 6:50 fyi

  • @izgoy-club
    @izgoy-club Месяц назад +1

    I’ve waited for a week for this? You could have waited another day for the central bank decision, and you would have had something to talk about.

  • @jamesweist8599
    @jamesweist8599 Месяц назад +1

    Good thing Trudeau's in charge, LMFAO 😂😂😂😂

  • @FatihaArt
    @FatihaArt Месяц назад +4

    How can a layperson access power of sale houses?

    • @althunder4269
      @althunder4269 Месяц назад

      Yes.

    • @jonflynn
      @jonflynn  Месяц назад +1

      have an agent set up a keyword search

    • @parkerbohnn
      @parkerbohnn Месяц назад

      Alberta everything was as is where is apartments going for a shade over $30,000 two years ago in Edmonton by the hundreds. Power of sale and as is where is, is the same thing.

  • @petervanhaeften
    @petervanhaeften Месяц назад +3

    I thought it was a real estate show

    • @jonflynn
      @jonflynn  Месяц назад +4

      Yep, what were you watching?

    • @andrewpayette621
      @andrewpayette621 Месяц назад +2

      Pooping on the beach affects housing prices

  • @Triggerman2505
    @Triggerman2505 Месяц назад +3

    Complete repeat of late 80s early 90s. People lost lots, then bounced back, but took like 10 years.

  • @SM-lj2ef
    @SM-lj2ef Месяц назад

    The short ones are probably people who bought but couldn't sell their old housework what they thought it was worth

  • @chefmarv6499
    @chefmarv6499 Месяц назад

    I think CMHC has been one of the entities that kick started this 20+ year real estate bull run in 2000-2001. They wanted to add more liquidity in the mortgage lending space because of the 2001 would-be recession with Canada Mortgage Bonds and never stopped. You can clearly see any index diverging from general inflation back in 2000-2001 Canada wide.

  • @JS-jh4cy
    @JS-jh4cy Месяц назад +2

    It seems Canada has devolved in canashitpakistan

    • @JS-jh4cy
      @JS-jh4cy Месяц назад +1

      In the usa, I would expect pooping 💩 on the beaches not go on for very long, they likely get shot for pooping

  • @energiavadasz3328
    @energiavadasz3328 Месяц назад +2

    Why are you all suprised? Real estate is just way over priced. Clearly not worth investing in it. Simple mat. Can not make enogh profit from real estate. High risk, low profit. Better to keep cash or bonds for now.

  • @smity25ca
    @smity25ca Месяц назад

    The BoC and pensions shouldn’t be allowed to purchase MBS or CBS and there wouldn’t be a housing issue 🤷🏻‍♂️

  • @gmarks1559
    @gmarks1559 Месяц назад +9

    The muppet boiler room flipping market is dead 😂

    • @DeWalt20V
      @DeWalt20V Месяц назад

      Good to see you old friend

  • @stevendefehr4393
    @stevendefehr4393 Месяц назад +2

    I didn’t like how you started this video!!!! I have to suffer with this culture all day at my workplace then to have this low-class action put in my face when I just wanted to enjoy another one of your videos 😢

    • @jonflynn
      @jonflynn  Месяц назад +1

      Sorry to hear

    • @TheGuby123
      @TheGuby123 Месяц назад

      Doesn't mean its not real and we shouldn't talk about these issues.

  • @frankyt101
    @frankyt101 Месяц назад

    Funny how prices, not mortgage costs, became a focus all of a sudden.

  • @glengarbera7367
    @glengarbera7367 Месяц назад

    That PSA from Gary wasn't real, was it? If it was real, then good work. We need more people calling out idiots in our communities.

  • @ca01ful
    @ca01ful Месяц назад

    How likely is it that they stop the CMHC???🤔

  • @Doug-zl8nb
    @Doug-zl8nb Месяц назад

    Thank u jon

  • @kcuhc84
    @kcuhc84 Месяц назад +2

    Some people say that Real estate agents and poop are not too far removed. Not me though.

    • @jonflynn
      @jonflynn  Месяц назад

      haha, I don't disagree

  • @user-ws6hn3pu6w
    @user-ws6hn3pu6w Месяц назад +2

    More videos like this!

  • @jassibrar8418
    @jassibrar8418 Месяц назад +1

    I honestly believe in Jon flynn in my realestate info. I will buy my first home through him!! I'm still waiting for Jon to give me the clear go!!

    • @jonflynn
      @jonflynn  Месяц назад +1

      Thanks, will let you know when I think the opportune times are.

    • @rosatipicks
      @rosatipicks Месяц назад

      Going to be 2035 and John will be “any day now!”

    • @jassibrar8418
      @jassibrar8418 Месяц назад

      @rosatipicks I highly doubt that, but if jon says 2035, so be it! I'll wait! House prices and other info that jon gave is all coming true while other realestate agents were either lying or just dumb and dont know what they're talking about !!

  • @Joe-mz6dc
    @Joe-mz6dc Месяц назад +3

    Jon's looking pretty chipper with all of these people losing their shirt out there.

  • @CallPaula4RealEstate
    @CallPaula4RealEstate Месяц назад

    See ya next week. Good video

  • @chrisfree2000
    @chrisfree2000 Месяц назад

    312 BENSON COURT, Amherstburg, Ontario power sale

  • @dabig_guy2204
    @dabig_guy2204 Месяц назад +1

    Not surprising at all.

  • @Yelllowchild7
    @Yelllowchild7 Месяц назад

    At 300k loss you are honestly better on keeping it and waiting like 5+ years to recover

  • @surprisek3918
    @surprisek3918 Месяц назад +1

    That was a nice right hook, nighty night.

  • @alainhamel1419
    @alainhamel1419 Месяц назад +2

    I usually like your video but what’s the point on a bitching session on CMHC? Maybe an education session on CMHC would be good. Maybe an education session on how people got mortgages before CHMC would be good. Forget 5-19% down, probably even forget anything below 35% down or much higher rate…. Get educated on why CHMC exist vs just a bitching session…

    • @jonflynn
      @jonflynn  Месяц назад +1

      Sounds like you or a family member works there.

    • @alainhamel1419
      @alainhamel1419 Месяц назад +1

      ⁠no I don’t work there or know anyone there (same for Sagen or Canada Guaranty) before you make accusations. Go study what happen prior to CMHC been created. History will teach you something! Remove CMHC and you want will not get affordability. CHMC insures the loan, how or who you think would foot that bill? The buyer? Yap not the bank(check the history on loan interest, you may find an intersection;) ). I’m not saying CMHC doesn’t need to get fixed. When the price increases like crazy, CMHC didn’t just insure every loan, CHMC would insure up to a value of X, X+++ would have to come from cash from the borrower. I saw some with a 900k purchase getting a loan only for 800k and had to foot 100k + 5% to get a loan…
      In case you wonder, I was a mortgage broker. I spent a bit of time on the topic;)

    • @TheGuby123
      @TheGuby123 Месяц назад

      @@alainhamel1419 Higher the loan, more the interest. Higher the loan, more the price. House prices are a reflection of purchasing power. END CMHC

    • @alainhamel1419
      @alainhamel1419 Месяц назад

      @@TheGuby123​​⁠ you too should also learn, CMHC isn’t the source of that problem. Here few things you can do to fix this pricing issue.
      Start at OSFI instead… until the conservative screw around with debt ratio, things were on stable line, check around 2006…. Harper move the debt from a home from 32% (GDS) of gross income to 44%…. Of gross income. Today, it’s still 39% and the TDS is max 44% and CC don’t need to be calculated as max out( they use to have to be calculated as maxed out). Fix that and home price will fix themselves. You’ll take away 25-30% of purchasing capacity…
      Second, why do realtors suck 5% of the transaction? Realtor use to sell house for 100-200k on 5% and make 5-10k on the transaction. Now, the sell house at 800k-1+M and the make 40-50-100k on a transaction? Does the work change so much in a decade that they need to make so much? Cut that off and the what 70K realtor will vanish and only the full time will remain and make a living. Again, you could chop 20-30k on the price of a house without touching CHMC…
      Those 2 options would slash the house price by 25-30%. So we are at what ~700k average in Canada, we would drop in the low 500k range. If you remove CHMC, you’d need 125-200k in down.

  • @sojourneroftheland
    @sojourneroftheland Месяц назад +5

    Wait.Pooping on the beach? What the...sure its not those dog owners leaving their presents behind.
    Why would anyone do that. Makes no sense. All public beaches have washrooms as far as I know.

    • @Cutlerypotato
      @Cutlerypotato Месяц назад

      Sometimes it's more relaxing to listen to the calming sounds of water as you defecate and micturate.

    • @roseoverdose6451
      @roseoverdose6451 Месяц назад +9

      cuz it's literally their culture in india.

    • @susieschilling4009
      @susieschilling4009 Месяц назад +4

      Well how it seems to be explained this is a normal behaviour imported from where they came from assuming India.

    • @tcmazz
      @tcmazz Месяц назад +3

      It's called convenience, drop and go

    • @stevendefehr4393
      @stevendefehr4393 Месяц назад

      The laziest lowest class culture out there 😢

  • @akshayhs2766
    @akshayhs2766 Месяц назад +1

    Well honestly, was impressed with the data driven analysis of Flynn. But what's this video about? Bitching about CMHC and poop? looks like he's a real estate agent looking for RUclips income in a bear market.

    • @jonflynn
      @jonflynn  Месяц назад

      Gotta take the bad with the good.

  • @matthewsemenuk7544
    @matthewsemenuk7544 Месяц назад

    Yeah! Team Beard!

  • @louelaine3680
    @louelaine3680 Месяц назад

    I was not able to follow your charts. Did not make any sense to me.

  • @rosatipicks
    @rosatipicks Месяц назад +1

    When John gets called out respectfully and with professionalism he acts like a child and says things that make no sense. That’s a man that knows he’s wrong. Like a child, really. John you should email the CBC to ask why a crash hasn’t happened. 😂

    • @jonflynn
      @jonflynn  Месяц назад

      Bag holder

    • @rosatipicks
      @rosatipicks Месяц назад

      Another educated and childish response. You should take my advice. Either arrogant, stupid, or just is trolling to boost views. Ah well. I construct a well written and thought out argument. John responds with non intelligible banter. The emailing msm was too stupid. “The sky is blue.” Email CTV about why fridges are cold!” Huh? Must be related to Biden.

    • @akshayhs2766
      @akshayhs2766 Месяц назад

      ​Well.. he's merely a realtor looking for youtube income in a bear market. Sense isn't his virtue !

    • @rosatipicks
      @rosatipicks Месяц назад

      @@akshayhs2766 yeah I mean he is what he is but at least debate or having an adult convo. I was overwhelmed with “a lot of questions” and said to email cbc/ctv. Like huh? Aren’t those leftists woke news anchors just blabbing about nothing . John is an idiot. Point blank. “Until next time” next week he will have the same style video and I’m going to be be reposting my msg going forward.

  • @JatinderShergill-g5c
    @JatinderShergill-g5c Месяц назад +2

    Poop tax coming in Toronto 😂😂

  • @flyingwanderer2542
    @flyingwanderer2542 Месяц назад

    John when is calgary and gta come to same level ;)

  • @Rentcollector
    @Rentcollector Месяц назад +5

    5% out of a million 🤬

    • @georgen26
      @georgen26 Месяц назад

      10 million ***

    • @Rentcollector
      @Rentcollector Месяц назад

      @@georgen26 omg 😳

    • @roseoverdose6451
      @roseoverdose6451 Месяц назад +1

      @@Rentcollector we don't have enough beaches to hold all that poop.

    • @sovereignty14
      @sovereignty14 Месяц назад

      There's a *million* in Canada now…!? 😞

    • @Rentcollector
      @Rentcollector Месяц назад

      @@sovereignty14 read the comments apparently it’s over 1 million. Tell Canadians having too many children is bad for the environment then import people from the Third World country makes sense to me.

  • @menguardingtheirownwallets6791
    @menguardingtheirownwallets6791 Месяц назад

    POOPING on the beach? You're kidding, right? That was some joke/gag, right? You can't be serious, do people actually do that these days?

    • @izgoy-club
      @izgoy-club Месяц назад

      @@menguardingtheirownwallets6791 75% of Indians don’t have access to a toilet and poop on the side of the roads in public view. How is it that you are unaware of this fact?

  • @AnitaSridhar
    @AnitaSridhar Месяц назад

    Well where the bubble was larger the correction would be more not every where

  • @CC-rx9ty
    @CC-rx9ty Месяц назад +1

    bottom is in tbh

  • @johnwood5387
    @johnwood5387 Месяц назад

    Speculation
    Low interest rates
    Corrupt govt
    All has to go and the indians
    Screw tik tok jon

  • @mikem4432
    @mikem4432 Месяц назад

    This video is laden with Indian poo stats.. I want to see what the listing was worth 5 years ago.. and you will see these properties are still in a MASSIVE BUBBLE .. a 1.6 million listing cutting a meager 200k.. joke.. when 5 years ago the home was not even listed for 1 million.... I call BS on this realtor ..

  • @marshferguson4737
    @marshferguson4737 Месяц назад +1

    I need to find a POS lol

  • @timothyirwin8974
    @timothyirwin8974 Месяц назад +1

    What does "nothing pencils now" mean?

    • @althunder4269
      @althunder4269 Месяц назад

      Yes.

    • @KrikitKaos
      @KrikitKaos Месяц назад

      I haven't heard him say this yet but it likely means that when you do the math, it doesn't make sense to proceed.

    • @jonflynn
      @jonflynn  Месяц назад +1

      not worth investing or building, the math doesn't work.

  • @shanmarg
    @shanmarg Месяц назад +1

    Man John dont go by these exception houses sold in the middle if nowhere. Most houses in Toronto are up by 10% plus post 2022. Dont ruffle everyone's feathers. Its still a good time to buy without multiple offers, if you can afford it.

    • @jonflynn
      @jonflynn  Месяц назад +2

      Toronto isn’t up 10%, I do the stats everything month. They haven’t reached a new high since early 2022 and currently down 8% or so.

    • @shanmarg
      @shanmarg Месяц назад

      Correct overall 20% down since peak 2022 and but 10% up post 2022. So average loss since 2022 is now only 8%. Just give it 3 months, with declining interest rates we will be pack to square one again. People want to buy and not rent.

    • @althunder4269
      @althunder4269 Месяц назад +3

      @@shanmarg it's cheaper to rent pretty much everywhere now.

    • @jonflynn
      @jonflynn  Месяц назад +1

      What data do you have to back up your theory?

    • @shanmarg
      @shanmarg Месяц назад

      The data is transitory and volatile so cannot be relied on, the spring market data is positive which is not the case now. But again the data will change by late winter early spring.

  • @rosatipicks
    @rosatipicks Месяц назад +1

    John, serious question. Why do you complain about the market every week? Why make doom and gloom videos weekly? Wouldn’t it be more useful to viewers to say it once and move on? Why not educate to first time owners that if you want to live in a house for at least 5-10 years, that you should buy when you can afford. There isn’t any positive advice or useful education in your videos. Every video has a derivative of the same title and message. Your channel would be much more informative on how to navigate the market and being realistic instead of your bias opinion on a crash and for everyone to wait. Food for thought for longevity of your channel and to promote growth and winners among your followers and not fearful basement dwellers. Future looks bright.

    • @jonflynn
      @jonflynn  Месяц назад

      That’s a lot of questions, you should email cbc, ctv and post media and ask them the same ones. If you’re looking for an agent to tell you the market is great and this is normal then I’m obviously not the one.

    • @rosatipicks
      @rosatipicks Месяц назад

      Why would I email mainstream media and ask them to educate/ motivate people on how to navigate the market. That doesn’t make any sense. You are deflecting and my questions are more than valid and I’m offering constructive criticism to your channel. Your answer says everything.

    • @rosatipicks
      @rosatipicks Месяц назад

      And not once did I say for you to say the market is great. You’re twisting my words and avoiding my valid points to make yourself look good again. I think any objective person would say I’ve won the discussion. Just because I say things you dont like, doesn’t mean you should avoid and deflect and say things like email the cbc to ask questions they aren’t qualified to answer. You would make a great politician. Deflect deflect deflect.

    • @rosatipicks
      @rosatipicks Месяц назад

      I’ll repost this on every video of yours I see. Too many questions for someone who doesn’t like the questions. Man up John. You sound like an annoying, scared and pathetic man. Use your channel for good. Complete waste.

    • @rosatipicks
      @rosatipicks Месяц назад

      @@jonflynn a lot of questions for a low iq realtor.

  • @sammavitae114
    @sammavitae114 Месяц назад

    Yeah but what Canadian hasn't pissed at the beach ( in the water or not).

  • @CallPaula4RealEstate
    @CallPaula4RealEstate Месяц назад

    Sounds like class action for those holding that insurance money (CMHC) by those who are loosing their ability through no fault of their own.

    • @lynb1022
      @lynb1022 Месяц назад +1

      How is borrowing to buy something far more than they can afford "no fault of their own"?

  • @ashishtandon2008
    @ashishtandon2008 Месяц назад +1

    This may be an unpopular opinion here, but I disagree with that PSA at the beginning of the video. With all due respects, how does that guy know for sure that the ones behaving badly in public are Indians and not Pakistanis or Bangladeshis, or even first-generation Canadians? Is it due to the color of their skin that the assumption is being made that the misbehaving crowd is "Indian"? It sounds like a deliberate attempt to give Indians a bad name. It is offending and should be taken down by the owner of this channel.

    • @stevewoitas7217
      @stevewoitas7217 Месяц назад +1

      I don't think your opinion is unpopular. I agree with the message if it pertains to ALL people.

    • @jonflynn
      @jonflynn  Месяц назад +1

      Ask the guy who made the video Gary Sodhi

    • @ashishtandon2008
      @ashishtandon2008 Месяц назад

      @jonflynn He made the video, which you put in your video. So you gave him the platform and reach. Hence asking you.