The GREAT DEPRESSION 2.0, Is Real Estate Doomed?
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- Опубликовано: 8 фев 2025
- This week we almost had a repeat of the 1930's Great Depression where house prices declined 67% due to Tariffs imposed by the U.S. government. I take a look at the data and how it compares to present day and how real estate could ultimately be affected. #greatdepression #realestate #canada #housingmarket
links/references:
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financialpost....
www.hbs.edu/fa...
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The comparison to the 2008 crisis keeps coming up, but this time it feels different. Back then, it was all about bad loans, but now it's more about rising interest rates, inflation, and people being priced out of homes. If the market crashes, who’s going to buy those expensive properties?
I get that, but I’m not sure it’s going to be that bad for real estate. There are always ups and downs in the market, but people will still need places to live, and there’s still a supply shortage in many places. Plus, rents are rising, and rental properties could be a solid way to generate income, even in a downturn
but what worries me is how over leveraged some people are. They’ve been buying properties at inflated prices with cheap debt. If interest rates keep climbing or if the economy tanks, they might not be able to handle the mortgage payments or find tenants. That could trigger a wave of defaults and push prices even lower.
That’s what has me cautious. Real estate has always been seen as a safe bet for building wealth, but what happens when the market goes sideways or even collapses? People think real estate only goes up, but history shows that’s not always true
I’m trying to figure out the best strategy right now. Do I hold off on buying more properties or look for opportunities? If a crash happens, real estate could be one of the hardest-hit sectors, but if it doesn’t, sitting on the sidelines could be a missed opportunity
You know, I used to think like that, always trying to time the market. But the truth is, you need a plan that works regardless of the short term cycles. And for me, that’s where having a financial advisor made all the difference
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Hi Jon, myself and friends watch you all the time from Durham Region, best no BS real estate show in Canada. You give a great market barometer of the golden horseshoe. I rarely comment but today I am giving feedback on 3 items.
1. the tight door in the bathroom: easy solution pop the door off and turn the frame around so the door opens to the hall, it's only 4 screws on the metal frame, you would be done in an hour better way would be a pocket door but studs maybe an issue, a rail door may be easier.
2. 67% price drop: they say history never repeats but it rhymes and I would say that 67% down from the peak is where we need to be to get back to normal. I was taught in high school the house you can afford was 2.5 to 3 times your family gross income. In 1995 our gross income was $65,000. Bank approved a mortgage 3X gross or $195,000, mortgage rates were normal at 5% to 9%. I bought for $174,000 same house 5 doors away sold for $1,200,000 Feb 2022, so $400,000 is the end target. I keep telling neighbours our houses will be under $500,000 in 5 years which matches wages and our kids can afford a house, we are getting there slowly, condo's need to blow up first same as 1990. Neighbours think I am crazy & tell me real estate always goes up.
3. Water heaters are a scam that needs intervention: my water heater was 10 years old when I bought my home and water heater rental from Enbridge was $2.95 / month. In 1999 they were increasing to $5.95 / month so I replaced my 14 year old tank with zero value or penalty with my own from Home Depot for $188, a 3 year payback. It lasted until 2013 and the next one was $400 still a 3 year payback. Recently I scored a deal for a replacement for $550 that is waiting beside the existing tank.
My construction Supervisor friend tells me water heater rental outfits such as Reliant. kick back builders $300 to $500 / house to install rental tanks with no home buyer option and you can't get an occupancy permit without hot water. The government needs to outlaw mandatory water heater rental.
270k is actually what houses should cost.
Really, thats how much a 2 bedroom house thats falling apart in NEW BRUNSWICK cost now, its insanity.
@@D4rkBl4de I live in Alberta and have a beautiful 10 year old 1600 square foot duplex with a garage that I can fit my fordf150 in easily. Plus jobs here pay 3 times what I was making in Ontario as I moved here 10 years ago. I was told to move where the jobs are when I was a teenager. Now I can retire with no mortgage and $500,000 in the bank.
Housing is way over priced in Canada
Fuck that lol
People overpaying with credit doesn't encourage me to do it.
The market is very unstable and you can not tell If it's going bearish or bullish. I advise y'all to forget predictions and start making a good profit now because future valuations are all speculations and guesses.When these reports are bullish take some off to the side lines, when news gets bearish start buying. "Keep it simple simple" that bear/ correction was the best thing that happened me.
SHE IS ON TELE GRAM.
@Serenwintersun
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Seren’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
Always backup your trading with a good strategy.
The same high-yield potential exists in both bullish and bearish situations; what matters is how information and technique are used. Not neglecting professional advice.
A key factor often overlooked is that over 25% of new homes are being acquired by investors, rather than individuals seeking primary residences. Even if Baby Boomers decide to offload their properties or more housing stock enters the market, it won't alleviate the underlying issue. Wealthy investors will continue to absorb the available inventory, which will keep home prices elevated.
There's also a lack of discussion about the role that major financial institutions-banks, private equity firms, and giants like BlackRock-played by purchasing properties post-2008, treating them as investment assets. It's impossible to fully understand the current housing crisis without acknowledging this trend. Additionally, larger luxury properties are inherently more profitable than smaller, more affordable homes, leading developers to prioritize luxury developments for higher returns.
I expect home prices to decline in the future, but for now, I recommend diversifying investments away from real estate. With high mortgage rates, recession signals, and stricter lending standards, shifting capital into financial markets or commodities like gold is a safer strategy. Housing prices may need to drop 40-50% before the market stabilizes. In times of uncertainty, seeking independent financial advice from a knowledgeable expert is crucial.
This sounds great! Do you have any professionals or advisors you could recommend? I could really use some guidance on proper portfolio allocation.
Certainly, there are a handful of experts in the field.
I've experimented with a few over the past years, but I've stuck with Jennafer Beaver Turner for about five years now, and her performance has been consistently impressive. She's quite known in her field, look-her up.
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
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.
Real estate and stock investments may be good decisions, especially if you have a solid trading strategy that can see you through prosperous days.
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.
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 "Lisa Grace Myer” because she was a big deal in 2020. She manages my portfolio and serves as both my coach and my manager.
Lisa’s profile appears to be fairly knowledgeable, therefore I must say that I value the advice. After locating her online on google, I thoroughly read through her resume, educational background, and qualifications, and I must say that they were quite impressive. We have set up a meeting after she replied to my message.
1960’s you only needed one income earner working to purchase a house, if a spouse participated in working it was taxed at a very low rate as it was considered part time employment. Fast forward……2025, it matters not how many people work, there combined income and wages barely make home purchases affordable let alone think you have an option to stay home to raise children.
Sad but true
Thats why 270k is fair price for a house now (following a 67% crash).
Oh and women should be stay at home wives, not working for some dipsh*t. You wonder why our birthrate is like 1.2
Yes true. my single mom in the 80s could buy her 1/2 duplex and townhouse back then.
Welcome to Usury. ❤💸
The Central Bank system is a global Ponzi scheme.
A plague on humanity.
But it’s hate speech to call them out. 🤫
Crooked-noses get bent out of shape when you do.
You won’t be taught this in school: you live in a debt based economy, which means Central Banks must create Inflation (counterfeiting, money printing) to keep the economy growing while they steal your purchasing power…your wealth.
Horrific.
Can we go to a gold-convertible currency that’s Inflation-proof?
Or does it require bloodshed again?
Almost 30 years just to recover in Manhattan properties prices, thinking it alot longer for places like Calgary and Edmonton where it's freezing 🥶 most of the winter.
It’s scary how similar Canada and Australia’s housing market are.
Impossibly and falsely high, and about to crash because we can’t afford food, let alone housing? 🤦🏻♀️
@ I was looking at buying a house in the city I currently live in back in 2022. Average price would have been $400-500k.
Can’t get anything here of value for less than $500k now.
Edit:
Just found a graph of house prices where I live, median price went from $420k in Oct 23 - $520k Jan 25.
Both are controlled by China 😉 amazing what you can get by threatening a country’s housing market to collapse 🤷🏻♂️
Both all driven by immigration
@@maydayhomestead housing and food are not tied together. The haves can always afford housing for housing as well as investments. Dream on
Yes, to hot water rental scam. I have always owned mine, old one lasted 30 plus years, this replacement is 11 years and still working. Re tarrrifs, outrageous how the politicians reacted. I think Danielle Smiths approach is the right way to go. And thank you so much for your videos, you are a real estate agent with integrity who is awake. Too bad you dont work in Toronto, would love to sell my house via you when I sell in a few years down the road... yes prices will be down but I cant move right now. Best Wishes to you and family!
We have lots and lots of land, including small towns, if the government was willing, they would build new cities with affordable housing. Why isn't this happening?
Crown land. Go figure.
Great video Jon! I love the format of the comparison month by month of sales, prices, new inventory etc on the right-hand side of the screen. More of that please!
Today my biggest client emailed me to let me know that corporate, in the US, has put a hold on all new shipments for their Canadian facility. The "tariff war" is the worst thing possible!
The one month pause is hopefully just a way to give Trump an easier out.. he may still do 10% on certain items but the 25% sweeping tariff I thinks is out of question
@tudvalstone won't matter for me.. The damage is already done.
maybe the best ...Maybe we need a massive depression to start new . Homes should not take 30 years of struggle to pay off..
@@tudvalstone doesn't matter.. Just the threat has US companies running..
@nickgreek6449 maybe the best? Ypu know that during a recession, when ypu don't have a job, you still won't be able to buy a house? Housing needs a natural correction based on fundamentals. Not a massive recession that wipes half of the economy..
Hit 220k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 34k in November 2024..
I would really love to know how much work you did put in to get to this stage
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small Investment, thank you Jihan Wu you're such a life saver
As a beginner in this, it’s essential for you to have a mentor to keep you accountable.
Jihan Wu is also my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
Waking up every tenth of each month to £210,000 it’s a blessing to I and my family… Big gratitude to this same Jihan Wu🙌
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them. People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
Jon, Thanks for another informstive video. Seemingly, some developers will try anything to recoup their costs and not all agents will side with the buyer.
Thanks for watching and commenting
@@jonflynn how come you never thank us for commenting who disagree with you?
Hot water rental is the perfect crime... the company provides the tank/install to the builder... the builder save 2k but doesn't reduce the price of the home, and the buyer gets sucked into a rental contract forever (VERY difficult to get out of). Most builders won't sell without that in place.
Personally pissed off by the furnace scam as sooo many cheep crap installed and people 5 years later getting hit with massive replacement bills.
To be honest, 2017 is still over priced homes. So I couldnt care if market hits 2014 levels it's FMV.
My house had water heater rental for $20/month, bought it out for $700 (it was 6 yo at the time). It's been 7 years now. They are trying to sell you "maintenance" but I don't even think you need to maintain them. Mine has been working fine and it's now 13 years old.
Honestly, I think it's worth shopping for a new tank at 15 years.. try to get a good deal rather than having an emergency and getting charged more. It's unlikely it will last much longer at that point. I changed my tank after 17 years and I notice a difference in the water quality. When new, you can do a basic maintenance yourself every couple of years, just drain some water from the bottom to flush out deposits. But I didn't notice any after 2 years, I think the newer technology prevents that.
You lucky that the water heater hasn't crap out yet, probably last longer if you are single and don't shower every day may make it last a few more years
I paid $650 for mine 10-11 years ago, no maintenance
@ I think they went up a lot since then, I just took a glance at Home Depot and a premium tank (the only kind I would install) is easily $1500 tax included. I paid $2400 installed for a AO Smith commercial grade, but it will still pay for itself in 6 years vs renting.
Houses in my area went up 100% from 2019 to 2022. Now we have people who bought in 2023 going back on the market for $200000 over what they paid, contributing to the "increase in prices" and also the lack of sales. Are realtors in Niagara Region allowed to cancel and re-list homes at will? Here in Chatham-Kent they do and it skews the "new listing" numbers.
Many people are giving emotional responses, and they will forget everything in a few months. How about we stop eating processed foods and buy whole foods from the local farmers' market? It's good for health, good for the local economy, and it creates a great sense of community.
Good point
Yea I've always had this in mind. When I put any offer to buy a house I'm not taking any rental equipment. They have to pay it out.
I bought a house in August, the previous guy was renting to own the furnace, air conditioner, hot water tank. Initial cost of it would be 15k, after 10 years he owed 30 THOUSAND DOLLARS. Luckily we looked into that before close or else we were on the hook, make sure you look into these things prior to closing
Thanks for the updates, Jon! I'm excited to see the prices after spring 😂
I bought a house in 2018. I called about the water heater rental and was told there's $80 owing. Previous owner's were paying rent for 17 years. They send a sales rep and trying to get me to get all new equipment on rent. I got out of the heater rental and told them they are scamming people.
tariffs only hurt the one who applies it.
Nice and informative video Jon. As far as the rental of water heaters in Ontario goes, at least they made the NOSIs illegal (Notice of Security Interests). Imagine renting a water heater at a ridiculous cost and having a lien placed on your property by the rental company as a "thank you". I reckon in Ontario and Canada we still have ways to go when it comes to consumer information and advocacy. I'll keep watching your videos, keep up the good work.
The grocery store was a zoo sunday. Stuff was sold out as though people thought monday grocery bill was 25 points higher. Canadian education system continues to produce the dumbest humans possible. I hate this country so much now.
No faith in Canada after the lockdown-mandate era. Zero.
OMG! Yes we are in a condo townhouse and we were renting the combination boiler unit we have. We bought the house and it came with the rental agreement but it finally gave out and I had the option to choose another rental or purchase. The original price I was paying for rent on our boiler was $38.99+hst. When I looked at the option to start a new rental with the same company because our boiler gave out, they wanted to charge me $159.99+HST 😮. And of course after much research I was able to find something for $70+HST, but ultimately decided to purchase out an entire boiler unit and had my dad's neighbor install it since he does HVAC. And now we are moving into a new home from a builder and unfortunately the purchase and sale agreement contracts always have a clause built in there that you will assume the rental for any HVAC equipment. I hate Ontario!
It was a wakeup call for all Canadians that we are relying too much on the United States. The trust and FREE-TRADE agreements got pissed on. The reaction was justified, if we did not retaliate, we would be for sure have a 25% tariff in effect now. China got their 10% in effect as they remain calm, compose and quiet. They now want to "talk".
Helding someone at gunpoint to get what you want is not a negotiating tactic. We need to take our business elsewhere and be less dependant on the United State. Same shit will happen in 30-days. We can`t be doing this dance for the next 4 years.
We deserve to be treated with respect and integrity.
When do USA honors thier contract, you mean freebie trade.
Amen!
Canadas natural trading partner is the United States. That’s the way it’s been for 150 years. Our governments blocked construction of new oil and gas pipelines 10 years ago so those economic benefits have been forfeit forever. Canada is a resources economy but our governments severely restrict resources development. People keep talking about “diversifying” our markets but it never happens. We need the US market and the domestic market is too small to matter.
I was living in Spain in 2007, we got one of the worse (if not the worst) real estate bubbles. People back then were also trying to justify the real estate mania with exactly the same arguments that we hear in Canada. For some reason people always think that this time will be different (spoiler: it won't). One of my favorite arguments back then (and now) is that investors and banks would stop a price crash by keeping the listing inventory artificially low. As everyone knows, that didn't work out well in Spain.
I would never buy a place where I had to rent my appliances. It's just getting weirder and weirder. People can control this, just refuse to buy these places and it'll come to an end!
Speaking of weird: I'd never buy a car where I have to pay a subscription for seat heaters.
Looking at real estate listings in Nova Scotia over the last couple of years, I noticed many of them stated something like "rental equipment: water heater" and I was utterly confused...
Yes, major home equipment rentals in Ontario. And it's gotten worse over the years with door-knockers soliciting not only for hot water rentals but also for furnace and AC units
1989 Canadian housing crash took 13 years, until 2003 to break even. There was no depression, just a recession.
It won't surprise me if it takes 30 years to recover from a depression.
Well, world war 2 got us out of the 1929 depression which was 12 years
Canada's market is much slower moving. It'll go down for 6+ years is my guess.
Yea I agree, we are still near the peak. It'll be a SLOOOOOOW decline for a decade or more.
For the very few who bought at the peak, perhaps. It was worse for condos, oversupply can build up fast in that segment. For detached houses, if you bought any year other than 89, you might have seen a max 20% drawdown, more likely 10% or so, something that happened quite a few times since.. 2009, 2017, 2020, 2023.
@@NeilMurphy-dn5gp
End of WW2 when everyone came back we got out of it.
Was close to 1950 before manufacturing was full on into a boom.
Water heater rental in Canada has been a thing for decades. Every single home I've lived in my entire life and I'm in my 40's. It wasn't uncommon for these to fail, need service, and require replacement more often depending on the water quality in some areas so rental guaranteed you wouldn't be hit by a surprise bill to replace. I can't say the system has improved much as many cities still suffer from hard water that rapidly declines the water heaters life expectancy. So depending on the situation that one does make sense. Any reliable plumbers over 40 will tell you the quality and efficiency of these units has depleted dramatically and they say if you have an old one do not replace it if it doesn't need it or you are buying a headache. My parents switched to tankless and regret that move. It really all depends on the situation.
About the rental water heaters, you can buy the water heater from the utility company if you want later like I did. I bought it from the utility company for few hundred dollars.
Thanks for sharing Jon, It's happening with most builders now. I've seen it with Caivan, Minto, Mattamy, and Richcraft as well.
About new listings. On realtor ca and rew ca I only see overpriced listings not selling months . But if I switch to sold, I see listings sold 10-15% below then the current listings. And can some one explain why on rew ca the last price assessment from 2022, but we already have 2025 now. I think this on purpose. When people go online to check prices they see overpriced listings and the highest assessment and it make them think that this is the real prices.
Realtors play a lot of games to try and fool the buyers.
Bathroom issue with the door can be easily solved by using a sliding door, that what they do in Japan.
About the water heater rentals. My home is 15 years old and I was surprised that at 10 years old my insurance company contacted me and basically said replace your water heater or we will not cover any water damage caused by a leak. I like to own because its still cheaper in the long run even if you have to replace it every 10 years. But I can see that some people like the convenience of just having the rental company come in and replace it every 10 years. The craziest thing I read about recently was a couple car companies tried subscription services. If you want your heated seats to work, $10/month, GPS, $10/mon, etc. Obviously, it didn't go over well with customers.
Smoot Hawley didn't cause the Depression as you mentioned. It didn't help for sure.
It was Sovereign Defaults across the developed world that caused it. The Depression masked the defaults. History have been changed to hide this fact.
How do I know? My Great Grand father worked the Dept of Finance back then. He explained the sequence to me many times while he was alive.
I'm an old Canadian I love Canada but I have more respect more Pride for America at this point in my life. Trudeau has destroyed us as a united nation
The only thing that breaks with a water heater is the blower motor, which the rental company says is NOT rented. Never rent water heaters. Make sure to negotiate any purchase agreement to have water heater owner owned.
Take cold showers. They are good for you.
Re: the leased water-heaters (etc.), if people miss a payment the lessor can put a lien on the house. Scammers steal houses this way.
Even if it went down by 67% Vancouver is still overpriced
True
China just applied a tariff on American imports today.
US will be fine.
@barrybrand2970 maybe. According to president nutbar America is in horrible shape and mistreated by the entire universe by ... a lot
@@barrybrand2970🤣
I Hit $32,590 today. Thank you for all the knowledge and nuggets you had thrown my way over the last month.i started with 5k in last week 2025..... now i just hit $32,590
How did you manage to achieve that level of growth? I've been trying everything I can to improve my investments, I want to retire in a few years and I need a better diversification
One of the most well-known people in her field is my CFA, Melanie Lasser.. I suggest looking into her qualifications in more detail. With her extensive knowledge, she is a great help to anyone trying to understand the financial market.Investment
Ms Melanie Lasser trading is the best way of making money in the market due to lack of experience which resulted in loosing funds.But miss Melanie Lasser, restored hope shes a good woman
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A home should cost 1.5 times your yearly household income.
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800k to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments 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.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Lisa Grace Myer’ maintains an online presence that can be easily found through a simple search of her name on the internet.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.
Water heater and AC rentals are common here in Saint John. It's the electric company who loans the equipment.
It doesn't make much sense with electric heaters, but it with gas equipment, it also includes maintenance, which would be $200 a year. And replacement in case of failure. My landlord rented his gas water heater in Ontario. It broke 8 years in. He got a new one, no questions asked.
There should be some law that prevents big corporations from buying residential homes, they helped cause the crazy increase in prices and housing shortages
There should be some protection for everyday people
Big corporations don’t need to be in Residential housing
Quebec has lots of rented water heaters for tenant apartments, like where I rent and has to pay. It makes sense for landlords. For a new construction it does not make any sense to me.
Ron Butler has spoken about this. Essentially builders were not building condos for people to live, but rather for people to invest. Once the investment stoped working out and investors stopped buying these units, regular everyday Canadian looking for homes to live in are not interested in these tiny shoe box condos. Realtors will tell you that everything will workout if you plan to live there for 5-10 years. But I can see how this will not go up in value for 10-30 years. People do not want these units!
China and other countries have done the same and it doesn't work out too great in the end.
When the market of condos in down town Toronto were booming some builders were making nice condos until the price of materials went up so high that builders couldn't finish the buildings on time. I think it was then that they started to use cheap and low quality materials. Still if any of those condos that were built like ten years ago goes to the market sells better than the new ones that has cheap appliances and other materials that are used. A buyer should consider many items when buying a condo or house other than location. Some just are looking for a shelter and some more than that. That's the difference.
The price per sq ft in condo market is ridiculous. For same and even 20% less you can be in the best Riviera complexes in Spain, Greece, France. The builders have been making great money.
@@billm3210 if you are talking about the financial and entertainment district in down town the name says it all. People who work there want to live there. What has to do with prices in other countries?
@@roseanneeskandari2370 simply the Canadian market is over priced. If people enjoy working and sure paying for this asset bubble then go ahead amd dont complain. Its a debt and asset bubble not hard understand. There are way better investments than the cities of Canada.
FYI 2006-2008 wasnt a cheap housing market. It was still pretty expensive at the time.
We will never get a 30s type depression because of fiat printing - officials have said they will drop money from choppers to avoid down turns. Buy your assets and ignore the noise
The housing crash of 2008 was not the same in Canada as in the US. Canada did not have so many bad loans, due to stricter bank regulations.
How to look for PoS or foreclosure sales?
Yes. Tying up all your money in an object that only provides on 1 or 2 families value is silly. Better to use that money to start businesses.
Great content Jon....love the Goose and Eagle
I really enjoy the chicken race in all level of government......all that for nothing
Very entertaining....specially in Quebec
I support securing our boarders .. hopefully they do the job and stop ALL crime from coming in! Apparently “we” needed to be told because “we” couldn’t do it for ourselves! .. I ❤️ 🇨🇦 but truth is I’m embarrassed by the actions of our corrupt elected leaders ( All of them 🙄)
We need to secure the borders too.
We have many criminals in Canada too. The borders are wide open to all sort. We never had entry to houses with a gun and killing the people inside. Now we have it. Shame on the leaders.
You have the right perspective. 👌🏼 Trump sees this severe weakness here and is moving on it.
😂 boarders 😂 you aren't even a Canadian! Leave
@@brianross7454 who’s not a Canadian?
Crazy week to buy a house ? should i lock in for as long as possible? Or get variable?
Might need some bead curtains on that washroom door lol
Not around Vancouver. We are in an equity driven market. Small corrections here and there but gains over the next few years then another lockdown (much worse than COVID in winter 2027)
95,000 realtors and how many of them made at least one sale in 2024?
94,500?
Good point
I would like to see data corrected for relative purchasing power.
Same. It's insane. It should be... I'm not sure, like 3-4x average price?
By all measurable financial standards things are worse than they were in the early mid 1920's, so it's perfectly reasonable to anticipate this crash will be bigger than the one in 1929. I think its going to crash so hard it leads to a totally new system of doing thinga. ❤
If you think it's only four more years, Trump has three sons 😂
I went from owning to renting my water heater because the tank was only lasting 5 years and it was cheaper to rent than buy.
Stop buying Chinese crap heaters, unless you doing something different you should get more than 10 years
Awesome channel
The fenatnyl really are a big issue here. And China does use it as a part of warfare. Its happened in Vancouver and US, happening in Indian north east and punjab. Now in toronto downtown you could see the drug abuse and the legalising of drugs isnt helping. Hopefully this rap directs Canada to a correct way for its own good.
We have so many organized cartels/gangs in this country all imported in by these WEF infected/infested politicians serpents. Cars ending up in African countries and probably others like Syria. 😡
China is also sending billions in money over to Canada to help rise the unaffordability. Never seems to get disclosed. Vancouver is done so they're moving the same method to Calgary.
I bought my condo for 250k$ in FtMurray AB in 2005 and it dropped to 50k$ in 2008 and never recovered. It is real depression in my town from 2008. I wish GTA and Bc realestate market come down too.
Condo for 50k?
Where?!?
You're forgetting about the 2015 oil crash and the 2016 wildfires. Had those not happened Fort Mac surely would've bloated again.
@@maliksaabsayshe said Ft Murray, AB
HWT rental scam shows Canadian complacency (both public and the government) at its best
Coming out of facing alot, I knew two things about the stock market: It caused the Great Depression, and the fastest way to make a million on the markets was to start with two million. And then the Great Recession happened only a few years later. So yeah, I wish someone had better explained it to me earlier in life. Having a good entry and exit strategy will make you succeed in the stock market.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Right, a lot of folks downplay the role of advisors until being burnt by their own emotions, no offense. I remember years back, amid covid-19 outbreak, I needed a good boost to help my business stay afloat, thus researched for licensed advisors, and thankfully came across someone of excellence. She's helped grow my reserve notwithstanding inflation, from $350k to nearly $1m as of today.
Glad to have stumbled on this, Mind if I ask you to recommend this particular coach you using their service ?
I have worked with a few financial advisors before now but i ultimately settled for ‘Melissa Terri Swayne. She is SEC regulated and licensed in US. You can easily look her up
Thank you for sharing, I must say, Melissa appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.
How did build that hallway? Looks like a ship in a bottle situation lol
That water heater thing is weird. I guess people don't know valves and pressure gages.
This reaction proves how WOKE Canada is LOL
And exactly how is Canada “Woke” because of a tariff war?
Yeah, standing up to a bully and fighting back is so WOKE. 😅
You think you fought back. You think an impact was made. 😂
The hot water rental company will take a payout. It's not cheap but that's the way to go. Then, if you're thinking or reselling, put in hot water on demand, buyers like that.
Yes and yes: prices will raise in CA$ but fall in US$
Rise
The people told the singer that the booing was not personal and she said she fully understood.
Losing 67% is about right so that young people can afford to guy a house.
What is the obsession with real estate. Stocks are better, push a button and sell if you don't like your investment.
100%
Only uninformed people invest in real estate. You may get lucky, like that ones who sold at peak, but getting into it now is borderline insanity.
Builders won't let you buy one they force you to rent. Builders must be getting kickbacks from water heater companies
Prices wont go lower than newer pre con listing i think. Watch the pre con priced
Factor the decline of our dollar and you really see a loss.
Water heater renting sounds like a rip off
id never rent any thing id buy used till I can afford what I want its just a way of charging 4x the price
My LCBO clerk was PROUD to be a part of the 'patriarchal duty' of taking bottles off the shelf! (silently, I said 'that wont last long') India already cut tariffs/taxes extensively before even being attacked! Mexico agreed to send more military to borders, so its traffic is paused. I watch China News and they are not worried, see the insanity of USA cost to this! Prices are coming doooowwwwwnnnn!
More up $
@@JohnLee-Not in long term. If trump wants manufacturing in US he would need to weaken the dollar to make US manufacturing competitive
And good luck getting the water heater rental company to fix it when it ages and falls apart.
Absolutely we should be boycotting the US. This isn’t going away. Regardless of what the US does now Canada should be looking at other jurisdictions. BRICS Would be a very secure option for Canada than the US .
I like the stats but his political takes are trash
Boycott the USA… and continue completely neglecting our fundamentally broken international security? Sure, there's a solution. 🙄
I certainly hope so. But your mad if you think house prices are gonna drop
Stock market is going to drop too. We are in the bubble of everything, all thanks to 0% interest after the 2008 crash.
Water heater rental is bubble mentality. 2000 bps hike and return to sound money.
I think the booing at the US anthem will be a continued thing from here on out. It adds another layer to cross boarder sports and is fun for the fans. It really has nothing to do with US hatred or anything like that. 10 years from now, our kids will be asking why we boo the national anthem and we’ll have a good story to tell.
Love the bald eagle vs the goose. Which one is your money on ?
I’m all for Canada but we have no chance with our current non functioning, woke, anti-business government
no one win
@@jonflynn this is true
Why would anyone rent a water heater, that is just crazy and unheard of in AB or BC. People not that smart in Ontario??
As far as Florida real estate there are bunches of RUclipsrs like you creating videos about Florida real estate. What is happening is what should be happening and that is a proper adjustment to the mean. Same ole,same ole. Stupid is as stupid does and there are a lot of those in Canada right now. The pain still hasn’t set in, IMO.
Florida is a disaster, but imo it's not comparable. They are dealing with skyrocketing insurance and special assessments. A house in Florida is a HUGE liability.
@@CorporateShill66 Yes, Florida has special reasons for it’s price decline, but this housing deflation will likely spread beyond the state border. Why would investors, who are largely responsible for driving prices to these heights, jump in when they see prices not continuing to increase? Why would investors continue to hang on to assets which are declining or have the potential to decline, with no further gains in sight? When investors begin packing up and exiting the market, we will see an acceleration of declines, everywhere.
Try the heat pump rental scam! I put 4 in my rental units in NB. Free to put in 50 rental per unit. In 2 years price went up 5 times! I said come get them and it would have cost me over 4000 for removal! I sold the unit! Lol
love the background visuals, lol
who is getting a hot water tank bought and paid for $2000CAD installed in 2025 and where can I sign up? My buddy in the ottawa area ended up servicing his tank for $850 because quotes to replace including labour and materials ranged from $3k-8k. It's MADNESS out there the decision to rent and have the hot water company pay for that up front is an obvious one for most Canadians.
$4k is what mine was last year. Also no one seems to know how to do any work anymore. Everything is hired out.