Lender Sells House for $199,000. Big Losses in the Last 30 Days.
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- 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...
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.
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.
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.
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.
‘’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.
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.
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
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
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.
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.
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
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
The CMHC helps affordability as much as the carbon tax reduces pollution.
Yes.
😂
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?
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
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.
@@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
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.
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
It didn't take long for poop and real estate to be discussed in the same video. Welcome to Canuckistan!
Thanks for pointing these idoits out canadians new cousins
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.
Very true, thanks for the comment
Great job as always Jon! BOC, CMHC & OFSI are interesting bodies out there without any real purpose for us Canadians.
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.
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!!
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.
Sure. Keep us posted.
The US housing 08/09 housing crash didn’t bottom till 2012. Patience.
I totally agree with you. I've been telling people this and no one listens!
You are 1000% right
00000 endless zero’s . Our government can’t be this stupid. They must be trying to destroy Canada one family at a time.
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
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.
Yes.
Yes. All a planned demolition and they even put a ski-(masked) instructor in charge of it.
Should somebody buy only on Net income? I feel gross doesn't show how much we are taxed lol
Some will just buy with cash, despite not terribly high income.
Exactly. Counting gross income as basis doesn’t make sense to me.
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.
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.
@@davidmanchester8978 unless you put 20%or more down, correct? Then the loan is not backed by CMHC?
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.
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.
I know of several sales in the Fraser Valley BC with losses of over $500K
Real loss, or paper loss?
The average IQ in India is 76.25. It is NOT the minority that are the problem.
💯 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…”!
Thewy're not the dumbest race on earth. If they went to school instead of never going to shcool it might be differnt
@@parkerbohnn , nobody said, “…the dumbest race on earth…”.
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?
They poop all over the trucking business too 😳
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
@@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.
@@marshferguson4737😮😮😮 whhhhat???
They have destroyed the trucking industry...in many ways
@@marshferguson4737my son in law says the same thing!
prices are still fairly high tho but moving in the right direction. I just hope prices continue to drift lower in 2025 and 2026
Only in southern Ontario. Everywhere else in the country, these policies and rates are just driving prices up and keeping inventory non-existent.
well said GARY
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.
Great comment thanks
Completely wrong! They're rude and tribalistic. They can't understand simple things like waiting in a line
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.
@@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.
So why is it only now becoming a thing in Canada? Were Canadians doing this the whole time?
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.
It sold for 379, was listed for 199. Jon is wrong here. Check it on house sigma
6139 FRANKLIN Ave
Niagara Falls
Thats the power of sale.
Best real estate show on RUclips. Honest clarity. Keep it coming.
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
Spot on.
Keep telling yourself that.. if it makes you feel better.😅
@@grizzlegreezz9696 econ 101 dingus
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).
As soon as I saw the clip about CMHC bonuses, I felt like throwing my tablet at the wall...................just managed to restrain myself.
@@alanmcclelland5245 Damaged drywall not covered by Tarion warranty, fyi.
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
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.
Wow... pooping on the beach... what the hell?!
pooping on the beach NEEDS TO STOP!!!!
I had no idea people were pooping on beaches 😂 gross!
@@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.
@markb8360 I need to get out more I guess! I'm in Ontario
@@marshferguson4737 years its been happening.. THIS IS WHY CANADA IS A SHIT HOLE NOW BECAUSE SHEEP WHO DONT WANT FACTS JUST MSM NEWS
Canadian government needs to be lock up and the snake at the top ..they have destroyed canada
so many people are desperate to get out
Great to see some house prices declining
Its all this Jagmeets Singh's followers coming from Punjab junglees. Shame.
shut down CMHC, and watch how quickly the market goes back to normal...
Yes.
I am against pooping on the beach.
Someone should dig up how much stuff gets approved under the CMHC new to Canada program. Im pretty sure its a lot.
I've been waiting 16 years for this news
And what were the prices back then? 50% less?
@@tcmazz yes.
lol keep waiting, this guys just engagement farming off desperate idiots.
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.
lets gamestop the cdn RE market. nobody buy just yet. keep holding out
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.
It’s not just all about the GTA.. Northern Ontario towns are never mentioned
6139 Franklin Ave is sold for 379k according to realtor websites????
We need more advertisements like this one.
Yes, thank you.
N.D.P. need to clean up their act.
Think about it.
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.
Thanks Jon!
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.
That’s the problem. I’ve got some first time buyers you can brag about that to.
First time buyers need to adapt and navigate the market or move elsewhere. Complaining and playing victim is so unattractive. Your channel breeds betas.
Isn't DEI great? Who needs fertilizer, right?
Oh man, I was eating when I saw him saying poops
That's inconvenient
Oh man, I was pooping when I read your comment about eating.
Me too!!!! Shocked he included that lowlife act on his great real estate channel!
Money laundering?
You don't say?
Yes.
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.
Te CMHC: Gangsters! You pay them say $10,000. Added to your mortgage and they only insure the lender not the borrowers.
Popping on the beach? Is that a real thing?
Yes...seems that more black and brown people are doing it.
🇮🇳 people are doing it
Cultures with NO CLASS 😢
Some are finding our beaches very relaxing. If you know what I mean.
Dig a hole...poop in the hole... forget about it and don't think about anyone else
There goes Wasaga beach real estate prices ⬇️...lol
TO needs poop discounts too. Afterall, you have to be careful where you walk there too!
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.
Exactly
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.
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.
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.
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.
Dreaming of investors now, are they??
He stops reading out numbers around 6:50 fyi
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.
Good thing Trudeau's in charge, LMFAO 😂😂😂😂
How can a layperson access power of sale houses?
Yes.
have an agent set up a keyword search
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.
I thought it was a real estate show
Yep, what were you watching?
Pooping on the beach affects housing prices
Complete repeat of late 80s early 90s. People lost lots, then bounced back, but took like 10 years.
The short ones are probably people who bought but couldn't sell their old housework what they thought it was worth
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.
It seems Canada has devolved in canashitpakistan
In the usa, I would expect pooping 💩 on the beaches not go on for very long, they likely get shot for pooping
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.
Yes.
The BoC and pensions shouldn’t be allowed to purchase MBS or CBS and there wouldn’t be a housing issue 🤷🏻♂️
The muppet boiler room flipping market is dead 😂
Good to see you old friend
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 😢
Sorry to hear
Doesn't mean its not real and we shouldn't talk about these issues.
Funny how prices, not mortgage costs, became a focus all of a sudden.
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.
How likely is it that they stop the CMHC???🤔
Thank u jon
Some people say that Real estate agents and poop are not too far removed. Not me though.
haha, I don't disagree
More videos like this!
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!!
Thanks, will let you know when I think the opportune times are.
Going to be 2035 and John will be “any day now!”
@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 !!
Jon's looking pretty chipper with all of these people losing their shirt out there.
See ya next week. Good video
312 BENSON COURT, Amherstburg, Ontario power sale
Not surprising at all.
At 300k loss you are honestly better on keeping it and waiting like 5+ years to recover
That was a nice right hook, nighty night.
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…
Sounds like you or a family member works there.
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;)
@@alainhamel1419 Higher the loan, more the interest. Higher the loan, more the price. House prices are a reflection of purchasing power. END CMHC
@@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.
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.
Sometimes it's more relaxing to listen to the calming sounds of water as you defecate and micturate.
cuz it's literally their culture in india.
Well how it seems to be explained this is a normal behaviour imported from where they came from assuming India.
It's called convenience, drop and go
The laziest lowest class culture out there 😢
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.
Gotta take the bad with the good.
Yeah! Team Beard!
I was not able to follow your charts. Did not make any sense to me.
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. 😂
Bag holder
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.
Well.. he's merely a realtor looking for youtube income in a bear market. Sense isn't his virtue !
@@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.
Poop tax coming in Toronto 😂😂
Yes.
CMHC forecasting 20% jump in 💩 next year ,if immigration continues @ same rate .
John when is calgary and gta come to same level ;)
5% out of a million 🤬
10 million ***
@@georgen26 omg 😳
@@Rentcollector we don't have enough beaches to hold all that poop.
There's a *million* in Canada now…!? 😞
@@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.
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?
@@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?
Well where the bubble was larger the correction would be more not every where
bottom is in tbh
we will see
Speculation
Low interest rates
Corrupt govt
All has to go and the indians
Screw tik tok jon
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 ..
I need to find a POS lol
Yes.
What does "nothing pencils now" mean?
Yes.
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.
not worth investing or building, the math doesn't work.
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.
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.
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.
@@shanmarg it's cheaper to rent pretty much everywhere now.
What data do you have to back up your theory?
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.
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.
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.
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.
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.
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.
@@jonflynn a lot of questions for a low iq realtor.
Yeah but what Canadian hasn't pissed at the beach ( in the water or not).
Sounds like class action for those holding that insurance money (CMHC) by those who are loosing their ability through no fault of their own.
How is borrowing to buy something far more than they can afford "no fault of their own"?
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.
I don't think your opinion is unpopular. I agree with the message if it pertains to ALL people.
Ask the guy who made the video Gary Sodhi
@jonflynn He made the video, which you put in your video. So you gave him the platform and reach. Hence asking you.