Forced sales increasing in Ontario’s housing market | Your Morning
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- Опубликовано: 30 июл 2024
- Real estate agents say more people in the Greater Toronto Area are being forced by their lenders to sell their homes.
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In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
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 $850k following guidance from my investment adviser.
Interesting Roger. I'm happy to have stumbled upon this discussion. If you don't mind, could you tell me the name of the financial adviser who helps you with your investments and how I might contact them? It Intrigues me to keep learning
My Financial adviser is ‘’Colleen Janie Towe’’, she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip , I must say Colleen, appears to be quite knowledgeable. After coming across her webpage, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
Thank Trudeau and his polices and never ending taxes for all of this!!!
Look at a chart from the last 20 years. The housing bubble began in 2010-2011 under Harper, who didn't have anything to do with it. Harper didn't set national housing policies or set interest rates on their march to historic lows.
Likewise, Trudeau doesn't set provincial housing policy or interest rates. The Bank of Canada dropped rates (not Harper) and set off the housing boom (which was a global event not limited to Canada, see also Australia, the UK, the US and so on). They raised rates (not Trudeau) and that is starting to deflate the bubble.
It's fun to blame people for things as a way of not taking responsibility for yourself or your situation. But the idea that one person can be blamed for a global macro event is just...stupid.
@Press VInyl
That's true, but Trudeau has caused a lot of issues in his last 8 years with lies and deception.
That list is very long , ethics violations , carbon tax , overspending , association woth the WEF , I could go on and on , Trudeau is no Saint.
It would be nice to see a politician actually answer questions in the house of commons , not read of a cue card !
@@pressvinyl4420 Marxism is not one person.
@@barbararemplakowska7243 So you're saying that Marxism and not capitalism created sky-high home prices. Since prices went up under Harper and stayed up under Trudeau they both must be marxists? God, you're right! They're both secret agents of the proletarian underground! Thank you. I'll spread the word.
54million mortgages in Canada, and only about 38-39million population, makes one think no? Where is this housing shortage I keep hearing about, if there's more mortgages than all people including toddlers?
Where are you getting your numbers? The CMHC indicates 7MM residential mortgages outstanding. Are you including non-residential? Even then... Seems like a large number even if we include car loans.
@@ngoctruongpaulnguyen6503 a car loan is not called a mortgage, and this video says 54 million mortagaes residental mortgages because this video is talking about houses and condos.🤪🤪🤪
@@berardoferrari i know. The point I am trying to make is that the guest on the show is wrong about his numbers. There are 7million reported mortgages in Canada as reported by the CHMC of which 5 million were issued by Banks as reported by the CBA. So nowhere near 54 million reported in this video. Maybe he's talking about the number of residences including the fully paid off ones but he made a mistake when saying those are active loans in Canada. There are no links and sources to back up his claim either.
The whole thing needs to crash. It is simply ridiculous what the government allowed speculators to do with real estate. In Ontario we are more expensive than NY or LA , it is insane! If you calculate the cost of "owning" a house with taxes and utilities it is sky high. But the industry is still busy trying to convince people prices will only go up.
We are definitely not more expensive than LA or NYC in fact were not even in the top 10 in north america and world wide we dont even hit top 100. In Auckland NZ the avg home price is 1.5 mil which is higher than torontos. If the market crashes a lot of families especially the middle class will be financially ruined
@@filip36365 Look for a place an hour away from NY and a comparable place an hour away from TO. Look at Niagara Falls ON and Niagara Falls NY. We are one of the least affordable places in the developed world, we definitely make top 5 (not to mention the quality of construction). We've seen the highest jump in prices since the pandemic in the developed world, we are second when it comes to the amount of debt carried by households. The overall statistic for the country gets skewed because of places like Manitoba, PEI etc. The families who didn't speculate and purchased a home within their means will be fine, speculators will lose a lot of money, yes.
LA is more expensive my friend just brought a house and paid $1.6 million and you paid in US dollars.
@@Kyle-km4vr I know somebody who just bought a house in Toronto for 2.1, so what? I'm talking about how expensive it is relative to what people make in the area, affordability index really as it is the only stat that matters. Toronto has an index of 1.53 and LA 1.40 and NYC has 1.00. Vancouver and Toronto top the list for NA. Hamilton, Ontario is less affordable than NYC with 1.50 :)
@@filip36365 except LA and NYC have better wages to compensate for cost of living. In absolute $ you are right but not in relative $.
Anybody who buys a house at these prices needs their head examined , don't continue fuelling this insanity.
toronto should be like qc make plexes but they wont do that indian people want there big homes to fill there huge egos. even though they are barley making the paymensts i am sure there are people that can afford the house but most cant.. when ever there is a new construction of houses in bramton indian people line up to book it.
They sell their already overpriced homes n buy another overpriced home. I have a friend who got so lucky bought a town in 19 fpr 600k in Burlington now sold it for a mill. In 3 years he made 400k n bought a detached for 1.4k now. I dont know if he relatively made anything bc both homes r up the same level but guess who made money? The realtor.
@@wheathusk2499 they make money on paper and get a little bit of cash from the sale of the home that they use as a credit card to live beyond thier means then go into debt again and hope the act or repeats. Fortunately for them the cycle is ended and now the ponzu scheme is caving in on itself.
Speculators deserve forced sales! 💸💸💸👍👍👍
Also the poor over extended! They were tricked by the low interest rate environment!
Definitely
This year there were 105 forced sales in february. Same month in the previous year was about 25. Up over 300% increase.
The Bank of Canada should be held accountable!
I think we also have to take responsibility for our actions too. When you buy a two million dollar house in brampton because your Punjabi mortgage guy faked your documents and you go along with it and the interest rate doubles you are screwed.
it's the buyers fault, not the banks. All the idiots that actively took part in bidding wars will now pay the price for their stupidity. Lots of Toronto "investors" bought every house they could get their hands here and are now trying to rent them to us. It isn't going to work and I hope they all lose their shirts.
@@louiskwaku8879 No worries, Team Trudeau won't let you down and tax the 'rich'.
Trudeau should be held responsible also!
@@dianedyck3474 Sadly, this guy enjoys diplomatic immunity.
Canada house market is horrible .they sell millions of dollars chicken cage made of wood...in italy you buy villas made of fantastic Marble for less with beautiful views of the mediterranean sea.
Govt should put a stop to owning more than 1-2 house. Some people have 8-10 rental properties
Then rent rates would be climbing faster if no new landlords with smaller multifamily building properties were participating in our economy. More like things like landlords or at least their current spouse should be required to live most of the year in the same city where they are offering homes to rent.
@@francesbernard2445 They should build rental buildings, infrastructure etc first before bringing more people inside the country
People having multiple houses isn’t the issue it’s corporations that’s the issue… mostly foreign corporations buying houses. There’s more corporations landlords than regular people as landlords
Communism is not the answer
spoken like a true communist!!!! LOL!!!!!! more big government please to rule our lives. next will be the government ruling what can and cannot be published on line! ..... Oh wait!!!! thats happening to! because it will offend someone!😅😅😅
Normal price $400 000 NOT $1 000 000 .
Everyone would buy two houses at $600k, never mind 400k. Think about it. If a local car dealership had a 30% off sale there'd be lines around the block. The 60% drop you're saying is 'normal' is not possible unless supply increases astronomically. Even that's unrealistic of course, as what builder would agree to build a house for 400k when they can restrict supply and keep prices up?
There won't be a 60% crash. There's far, far too much money in the province, country, and world. We've seen a 15-20% drop. Much more in the suburbs, much less in hot area.
This world is turning disgustingly greedy.shame on them. This world could and should be eden for all instead greed is killing the world.
Worry not, hopefully in this lifetime Elon Musk could send humans to planet Mars which might be the Eden we know.
I am so tired of hearing these so called experts go on the news and predict the housing market .
This was called the free market once. What happened to Canadians? They are buying Marxism as a democracy. This is not Eden. Marxism is killing the world.
the real problem is blind bidding you give more money for a house with out knowing how much the other persons bid thats the main problem. the real estae agents are to blame for this. sellers agents and buyers agents spend more time together so do u really think they have the buyers and sellers interest at heart NO.
Don’t worry… they’ll be selling their Teslas for Accords and finding new employment soon enough
I have heard people lie to qualify for a mortgage how is it one person working at a gas station and another person working in a package factory can afford a house that cost 1 million it’s a joke . People are lie when filing mortgages
@@AmanSS890 many many agents are crooked. They sell properties and units for maximum profit and commission. They lie and create fraudulent docs for loan approvals and speculate purchasing entire floors before release to the public to cash in on “appreciation” it’s sickening and there is a special ring in hell for each of them. Not to mention the common practice of lying about bids
the widespread collusion on rental prices. It’s criminal but the sheep tolerate it and the politicians look the other way. So who is the fool? The agents might be the smartest people on the room!
Here in Windsor, house prices have doubled, due to new immigrants and demand. It also affects rent prices. There needs to be a correction here badly.
@@HyperDondon - Windsor is 1/3rd new immigrants... driving up house prices.
Toronto house market must crash. In that way people can afford a house or appartament. The prices are insane. Houses muy be around 450 k not 1 million.
even 450k is too much for a starter home, its just that we have gotten so used to ridiculous numbers
The a average person only makes 50 thousand dollars a year or less so how is it some of these people can even buy a house? There is a guy he works in a factory and he has a 1 million dollar house🙄. How ? Unless mortgage brokers and real estate agents are lying for these people . On papper
@aman sahota
There's a big difference between a guy working in a factory in Brantford and a university educated white-collar worker in Toronto. A dual-income couple making 100k each easily qualifies to borrow $1,000,000. An intermediate software developer makes 100k with bonus. Go look at the sunshine list to see how many people are on it. A lot of people in Toronto make a LOT of money. Banks are more than happy to lend to them because they are good bets to pay those mortgages off.
There are 1 million livable houses in Toronto? The average price for new apartments are like $1200 per sq. 1 million just get you a 2-bedroom apartment.
You wish.
It needs to be let to crush “ rebalance”
So it can get more affordable
and not run the Canadians in mortgage for 35-45 years
It’s insane
So let's see, we have a drastic housing shortage , force people out of their homes, the home is sold to.someone else placing the forced seller out of a home. Canada allowed over a million new people into Canada with not near enough housing some are in the street. Makes perdect sense doesn't it?
And that million will grow to 10 million, courtesy of Roxham road. And most of these are unproductive leaches, that only “take”. So there ‘s that.
They are letting so many people in to Canada and they have a housing problem. People are desperate to come to Canada then find out how expensive everything is. High taxes high housing cost on top of that people are coming in illegally thanks to Roxam Road.
they can also go back home where it is cheaper.They weren't forced to come to Canada.
They just need more people to pay for there over spending.
This government just needs more people to pay for there crazy over spending. Here a idea TRUDEAU STOP OVER SPENDING. The houses are so expensive as well all these immigrants coming to Canada so you think they have a million dollars to buy. A house . NO. The home owners that allready have homes they are the once doing all the house buying
It’s a depressing time to be young people trying to get into the market without having to uproot your life and move away. Feels like it’ll never happen.
I am so glad I live in qc if it was all English in qc it would be the same problem the homes are expensive here as well but not as bad as Toronto and Vancouver
Home ownership is not a dream but a nightmare. If you never buy a house consider yourself lucky.
@peter wow so lucky to pay exhorbitant rent for slum apartments in big cities while those bought a home a few years ago are now looking to upgrade to a bigger house while you are being squeezed out of the market.
@@North49191 Peter Pan.
@@AmanSS890insane import of refugees and illegals has worsten the problem
Let it happen. As he said, these were investors taking a second mortgage on their current home and putting themselves in the situation and driving up housing cost. Second home needs to be paid in cash or at least 75% of cost. Lenders need to limit to 25% of home value when it comes to a second home
Most people can’t really buy these homes. The banks that are lending money to people are to blame as well they know they will be getting money from mortgage month after month the lenders are to blame It’s the hole housing system is messed up.
@aman sahota agreed. I would not say in every case but there are cases out there like you have mentioned. I believe marketplace did a story on it, cibc and Scotiabank are the worst offenders. They'll pretty much approve anyone without doing a thorough check.
"market price", which is set by Realtors.
These houses are worth half of the price, but it's a mafia approach of "fvck you, pay me".
Interest rates must go up, to get rid of speculators.
It must get worse before it gets better. Low interest rates only benefits speculators and investors.
We need chase out speculators from real estate, leave it only for regular people to buy. People need to learn to save money before buying real estate. Its better have high interest rates and cheap real estate.
Agreed. Like the 40 years ago, when people actually had to save up.
Lol this is your solution? It'll just repeat over and over again, it's a rigged monetary system. It's there to keep things as they are, banks will get bailed out, Fed's print more money, less buying power, slow recovery, 4 to 8 years of stability and reset.
Dude those days are long gone, you cannot save to buy something in Ontario, there’s too many people that have the luxury to buy these homes over the value and believe me they aren’t hurting
that will NOT help you at the grocery store in other words you're still poor and you still can't afford a loaf of bread
This thinking would make you poor.
In many cases the banks are extending the amortizations out to 60 to 70 years. The borrowers are not even paying all their interest owing let alone making any principle payments.
thats scary. incoming crash!!!
So they will basically be renters 😅 "you will own nothing and be happy"
@@fofal expensive to rent this way....60 years of mortgage is insane
That's not true, banks only extended amortizations to 35 years, but even thats not enough for people in variable mortgages who recently bought their homes with minimum down payments. Those people are paying all interest in their regular payment plus they have to go into the bank and make an additional payment every month to cover the excess interest because banks are not able to further extend the amortizations. So many people are paying $3k a month and none of it is principle
Nonsense, it's illegal to exceed 30-year amortization.
Mortage Agent Hill : "This is a direct result of Interest rate increase" Seriously??? Guys like this take the Housing Market to the current disaster... Guys like this are worried on their income only... Why didn't he mention at all the HOUSING BUBBLE crisis that is the root of the problem here???? People cannot afford to pay their mortgage for 2 reasons the interest rate of course but mainly because hundreds of people bought their houses at bubble house price, a house of mainly wood and drywall cannot cost 1 Million dollars!!! and he still says the home prices should go up!!!! NO the bubble housing has to be corrected the prices should be real not inflated by speculation and GREED!!!!!
average homes in Ontario is about 865k, when it should be 300k(remember this includes small cities and towns), its 3 times overpriced because of the lack of supply of housing
I don't believe it's lack of housing .it's greed and foreign money just parked here in bnbs .loads of them .
Real estate agents caused much of this as well
It's not so much lack of housing supply, but too easy credit provided to everybody and their brother by bankrupt woke banks.
Hell no , HELL NO
Even 300 k is overpriced for the high taxes and lack of jobs and all the snow we get
@@fauj7860 I agree
It has nothing to do with limited supply. That's just a stupid argument. Speculators plus mass immigration keep the bubble from bursting. Toronto's economy is basically a real estate ponzi scheme.
This has been going on ALOT in the province. The real estate system has put in a considerable amount of effort to try and make this data unavailable to the public (ie power of sale listings are not directly described as such all the time, instead they may have Terms like being sold "as is" or other things). Finding the data though takes quite abit of digging and I feel like maybe only half of the power of sale listings even have some info in their descriptions indicating their status.
I think this is a precursor to the coming crisis for regular Canadians so far as the breaking point for insane disposable debt loads that the average person/ family carries. The next 12 months will be very interesting. There will be at least 1 more .25 rate hike (to keep our dollar up slightly). Next stop Armageddon? Lol
real estate agents need to bE BANNED from buying more than one property this is all their fault
This is getting juicier by the day. Popcorn anyone!
Why houses in lower mainland BC doesn't seems to go down? The people there are so greedy
House prices need to come down.
They have come down. And that's not the solution. Many people are now over leveraged so if they sell their home they will still owe the banks
It needs to crash HARD.
@@nisscee.social_ what do greedy people owing the banks because they overleveraged themselves have to do with Canadians?
It’s people on fault for buying these homes . Know they know if they sell them they will be at loss.
No way….the house prices can only go up. That’s what my agent told me.
It depends, expensive homes (luxury condos, single family homes) are going down. Entry level condos are still going up (unless you live in a non-world class city).
@@scaerverie Non world class? Like Houston, a far more economically powerful city than Toronto, but never has the stupid money printing bubble? This is a Canadian stupidity story, nothing to do with supposed city class.
@@scaerverieyeah, whatever the 500,000 new arrivals can afford will at least stay level.
@@jonathanandrew2909 they say 500,000 but last year it was a million.
@@Trythis837 the great replacement in full effect.
Where can we obtain some stats on this? As I heard that buyers are jumping into the market now
Mortgages, especially fixed rate ones are not the biggest killers I don't believe. How about the HELCs (Home Equity Lines of Credit)..they are tied to prime rate and will be interesting to see its in-arrears / default numbers..those who can pack onto their primary mortgage have likely done so..
i agree, they money being thrown around in the market is from the helocs
I don’t know why peoples buying this overpriced million dollars small town house begin with?
I'd call them irresponsible and greedy people, regardless either they are pops, mums or whomever they are.
The anchor is misleading; if you are making your payments you don't go to power of sale which is the 'forced sale'. The broker corrects it by saying its the refinance denial from the A or B lender from the private which is making owners sell themselves. Forced by the market not the lender in those cases.
Thanks for making sense of their nonsense reporting.
Reports like this are why people distrust the media. It’s either deliberate or the anchor doesn’t understand anything about Real Estate and or mortgages. Banks are Not sitting around with a spreadsheet of houses to re- evaluate them for no reason if the monthly payments are being paid regularly.
@@edesouza2279 this day and age, it's most likely deliberate to further the divide and conquer gov tactics to keep the lemmings in line and remain fearful little obedient lapdogs they are
your comment is what I was looking for, so thanks for the clarification . The anchor doesn't know what she's talking about, therefore she's sitting there trying to look smart. But in trying to look smart she's causing confusion. No wonder ordinary folks don't trust them anymore.
It's called greed for the individuals with an extra property 😢😂
this is a result of criminal mortgage lenders...we are witnessing unprecedented greed and corruption
Love how he starts with when we see anything go up by about 300% its a sign that something is broken... Just saying housing prices compared to 7 years ago are up 300%
Ontario is about 60 percent over priced.
Yet we will be protesting if anyone wants to build condos. 🙄
The same real estate agents used to tell house owners to raise the price of their rental properties... don't have children... let's stop human madness...
Investors complaining when the ponzi scheme isnt working anymore.
I hope this would cause the 2007 like financial crisis. This might be bad for the landlords with loads of mortgage, but it’s absolutely best news for people would like to afford a house and a house in GTA shouldn’t cost more than 500 k.
When that happens the jobs will disappear as well. And after the layoff the corporate bootlickers will be all that remain
This would not happen.
Debt junkies.
Own nothing and be happy peasants
Do we have a price chart? Is the home price really dorpping or continue shoot to the moon?
Thank your government for this!!!!
This is what they are neglecting to tell you,
They still are not telling you the truth
If you purchased a home for $800000
Put down the minimum required /5%=$40000 leaves you with a $760000 dollar mortgage.
Now if you bought at the height of the market eg: you purchased for $800000 and the now the market declined by 18% you house is now worth $656000 dollars.
You now have lost $144000 dollars.
You have become a risk to your bank.
Now you owe the bank $104000 if you want to keep your house. 😮
I thought that imminent domain was the only way to be forced to sell!!!
Banks can call a mortgage in anytime they want. Nobody reads the small print.
Don’t buy nothing crash 💥 on the way heavy correction
Interest rate are not that high...home prices shoot up to the sky in the last few years..
Prices must fall a lot, otherwise, all the new generations are totally fked
nah, young people will just leave, then the old people will have to use that real estate profit to pay for nursing homes since their children left the city
@@shaq9361 Left the city? More like left the country.
Live and create memories. Travel the world.
Rent is better.
You can thank the ON Provincial and ALL Municipalities that make it cost prohibitive for new builds and therefore creating a shortage of housing and then this mess of ridiculous prices.
Crazy Canada's population is only 40 million but competition and inflation if we're 400 million
Up 300 % what are the actually numbers ? Sounds like there might be some good deals - demand is still exceeding supply in GTA - fight back - sounding like Anne Marie wants to hype and dramatize the situation
Good!
Canada 🇨🇦 is a very small country, no enough lands to build real-estate 😢 😕
Smaller than Tokyo, unbelievable.
There's plenty of land. The government doesn't allow the builders to spread out. They keep everyone close together to keep the prices up. It's all done on purpose.
The houses here are simply wood cages and as you know there is not enough wood either to build them, hence the high cost if a house.
@@rjkrjk8344 my dear, some land must be protected and government is not protecting it mainly this Ford nation government is giving up the greenbelt for free not to address the housing crisis but to allow his friends to build the billion dollar houses in a sensitive area.
He could let them move up north but they want to be close to GTA.
The NIMBY are the one causing this crisis ...more houses or apartments units means their house price will go down and they are always opposing any new developments, unfortunately some municipalities and political parties want to keep the NIMBYs happy.
@@rjkrjk8344 You are 100% correct that it’s DONE ON PURPOSE!!! Country with 2nd largest land mass, yeah sure! 🙄
So much land and yet all these houses are built always in one open area Toronto is getting over crowded as is. There is a family of 10 living in a small semi-attached what in the world. It’s laughable what 1 million gets u in Toronto . A semi attached house. Tiny ……. I would not buy a house personally I would rather buy a business that gives me money ever month. Houses were built for the banks…….
1 more hike, 1 more hike! 😏
I hate when the government says 300% and doesn't tell you the numbers that it was and then the number it went up to. Was it 10 that went up to 30, or 1000000 that went up to 3000000?
It's not data from the government, but from a private company called Landbank Advisors
Don't worry, PM Blackface says the budget will balance itself.... Also if your having trouble with your bills all you need to do is cancel your Disney+ account.
You may end up homeless, but he has nice hair.
They would still vote for him.
So, if I understand, these are mostly speculators? And this is supposed to be a terrible thing?
Communism in action. Greed was a free market once.
Wrong way !! is this guy joking ! All is Ok Unless prices go up 300% ,let the speculators get out of the market !
35% drop is inevitable
how do you know?
Crossing my fingers that it happens.
@@YoBoyMarcus highly unlikely
This is the beginning of the end because money is no longer cheap to borrow. Early 80s interest rates were at credit card levels...
What is a forced sale. Can Canadian banks call mortgage loans in for any reason? even if borrower is current?
it's if you're trying to refinance and lenders believe that you won't be able to afford your payments. lots of folks are in situations now where they're covering the interests only, so whenever they go to refinance they're owing more than when they started.
That is why there are so many houses up for sale right now, the real estate agents know this & have been withholding information
There is not many houses to sell ,and prices are ridiculous high, forger about Toronto area 🫣
@@robynhood9663 and yet real estate agents are playing it out like things are going back to normal
please make all the real state investors crash and lose. they can keep their primary residence. please please please
Wow, wow, wow.Mega communism in action. Primary residence must be shared. Please, please, please.
@@barbararemplakowska7243 look at their screen name, most likely they came to Canada missing the oppressed lifestyle they left and try to force it onto the Regular Canadian who has lived a much different life.
People bought few houses of Covid relief money of CRA as investors. There is no housing shortage. I know friends having ten condos.
What about bankruptcies what is the true story in Canada
The cracks are forming.
Good job on building more homes 🏡
this is actually hilarious and has been so easy to predict
In Canadian History Canada 🇨🇦 will absolutely have more homes by the next decade Currently homes in Canada 🇨🇦 are also being built for the first time ever
I learned about Garth Turner's blog and started to read it a long time ago around 2013 or something. I'm not in that situation described here today. Its probably just a coincidence.
Mortgage on interest is root cause of all this
Haven't seen this since 1989.
It's your government falt
Just limit one residence per adult
Communism in action. Limit food and water too.
Maybe all that time young people were still living in their parents house they should have been saving money instead of blowing it and thinking the free ride would never end.
Told u so Chrysta and PM
Liberal ridings?
I like what I'm seeing in this comment section. One thing I know for sure is even if the price of houses fall to $400k from $1M, some of you still won't buy. You will still complain and say it should crash to $150k
stay away from real estate clowns and other vested interests
Because easy money means when rates rise,,,,most people can not afford what they bought.
Stupidity on the Bank of Canada part. Easy money always causes a crash.
By the way,,,,your salary,,,,has the same buying power as 1935
they all deserve it for letting the housing sham go where it went
Lord It’s a Miracle!
Banks don't want to be left holding the bag when this absurd real estate market crashes
This story sounds like a “story”. Fear mongering!
Let me hear the person who had such experienced tell their whole story.
👍
That's excellent news more inventory on the market ! Greedy canadians out ......
High Real estate prices is a government policy. I think most people are still ok with the current price . They got re-elected just 2 years ago. Just millenials are suffering. Baby boomers a laughing out the doors
I will never sell my house for less after the sweat and tears getting up every morning walking in the snow. I would rather get a second job. To all homeowners rent out a room in your house do not give up.
If you need a tenant in the basement to pay your mortgage, you are in over your head.
to fix the housing market in ontario the housing market need to crash .
All the people waiting for the housing crash so they can get in the market now can’t afford the mortgages required to do so and as I’ve been saying for over 5 years, no matter what happens, first time buyers will get screwed.
Your scrued
Trudeau's government has destroyed the Canadian dream and made as suffer the worst Canadian nightmare
Latest trend in the real estate industry
Everyone wants to be like the Kardashians
Be pro activ 😂😂😂
Hahaha
Mortgage idea is scum!
🤣🤣🤣👏👏👏
Finally. Let’s gooooo!
300% 😂 if it goes from 1 house to 3 houses it's still considered 300$. Don't listen to this nonsense.