Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and assets in place, investment returns can still vary between investors. It's important to recognize that experience is a key factor in achieving success. I came to understand this myself and sought the advice of a market analyst, which helped me grow my account to nearly a million. I wisely withdrew my profits just before the market correction and am now capitalizing on new buying opportunities.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
My house was 350K now 850K but my money is worth 1/2 so the house is the same price. My wages were x and still x. My groceries are high, gas, expenses all doubled. I am poor thanks to the Liberals
@@sovereignty14 when did the conservatives ever let in over 500k immigrants and immediately converted them to permanent residents...answer is never.....when did harper sell off ALL of our minerals and mines to china....answer again is NEVER....you deluded fool
I am in AB, and I don't know of anyone who thinks we are untouchable. In fact I feel we have been feeling the pinch the longest out of all the provinces due to all the policies from government in recent years.
Agreed, people from Alberta are used to the feast or famine of life. It's the new people who will be shocked. Or very young ones that graduated on CERB
That's crazy. I paid $231k a decade ago. Which seemed a lot at the time. Now have less than a third of my mortgage to go. Not many will be able to pay back $1.2 million. Many will just default, lose their property and destroy their credit rating.
@@Hypeman10 Well, I just looked on some realty sites and there are in fact townhomes in Calgary for over 1 million dollars. One is even $1.75 million. 2267 sq. feet with 3 bedrooms. Just look up luxury townhomes in Calgary. There are quite a few over $1 million. So, it isn't fearmongering.
Was talking with an Ubereats driver in Edmonton, AB and was surprised to find out what he told me. He moved from Toronto 4 months ago. He used to make $1500 and up for 80 hrs of delivery every week there, and now he regrets moving to Edmonton and is thinking to go back because for same amount of time and kms driving he is barely making $1000 a week in Edmonton. He told me lots of couriers like him have moved to Alberta either calgary or Edmonton and the y r in same position. This is a typical example that sh#@t gonna hit the fan soon in Alberta. Especially with unemployment rate creeping up.
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.
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 ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Calgary here, the rental market is 100% flooded. My husband and I decided to move to a smaller property and were god smacked at how many properties are available. I have never seen the rental market like this in the past 20 years. Every property I contacted I received a response that it was still available and literally chasing me to come view it. There is definitely over extended investors that are going to feel pain in the next year.
Kingston (On) here... just starting to see same rental market...six months ago 50 messages an hour after a rental ad, now only a few responses a day later. House prices also dropping from highs, otherwise they don't sell.
Depends where you are, I rented my house in springbank hill for top dollar in a day with tenants chasing me. There are always micromarkets for everything no matter where you go. Same goes for sale as it goes for rentals.
We manage 80 properties in Calgary. All are rented. Recent vacancies filled fast. These rental incentive ads are for condos less desirable. Calgary has very few distressed sales right now. Even from 2012 to 2020 out foreclosures were no where near as bad as the 90s.
Also, I watched a video on RUclips about the rental units being takin over by big property management companies and increasing the rent 500 and plus. These are people living on fixed incomes, our seniors. There are no rental regulations in Calgary…. outrageous!
yup at my 80's apartment the rent used to be 900 for new tenants in 2019 after it get sold in 2020 1600 and today 2100 thankfully BC law protect me from this however anyone who move in won't last a year way too expensive
A lot of Toronto residents paid over asking price in Calgary thinking they have hit the jackpot. It will be interesting to see how fruitful their rental investment turns out to be in the longer run. Alberta rents went pretty high and if we run into recession with oil prices going down, it will test the limits. I am not an expert though.
@@xoxo-gossipgirl888 True. Many people move out of AB when energy prices come under pressure or big energy companies merge and do layoffs. Something to do with a large number of jobs being contract-based.
Alberta like the rest of Canada is already in a recession people can't afford $700k average home price in good times they won't today, higher oil prices are only beneficial to oil companies and the top 10% of the wealthy who hold stocks in them and ofcourse government coffers but not really the average worker.
The only way they can make a return is by renting to people who will destroy the property. There are slums popping up all over. Nobody can afford $2500 a month, but if you turn it into a flop house and jam 15 people in there they can.
@@RippDrive@RippDrive Yes, there is one rental in my street owned by an out-of-province guy who lived here for a few months during COVID. There are definitely more than 10 people. They also occasionally rent rooms on Airbnb. Late-night activity, loud vehicles, loud people. The landlord doesn't care for the same reason. If oil takes a dip for any reason, expect affordability to worsen.
In Calgary and surrounding areas, it’s been impossible to find a rental for the past 5 years. This got much worse as all of Ontario fled to here during the totalitarian period. But, there aren’t as many jobs here as the population demands, the mayor of Calgary has proven herself to be as bad or worse than the places these transients came from, and the prices are ridiculous across the board. So, people are leaving….
Yeah, that’s what I noticed here in Calgary as well, extremely hard to find places to rent. So I don’t know why people are seeing the market is flooded unless this has been a very, very recent change.
I woke up to the tragic drawbacks of our debt-based financial system during the last financial crash. Through discipline, determination and Abby Joseph Cohen my financial advisor, I was able to retire recently in my early '50s with a bit of land in the Williamson act on the California coast and an investment portfolio that can sustain my daily living. I try to spread the word and encourage many people I meet it is possible to achieve the goal of independence. Living below your means can be enormously rewarding! Practice humility and above all, Invest in the financial markets with expert guidance.
I know this lady you just mentioned. Abby Joseph Cohen Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Abby Joseph Cohen has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Been debt free for two years thanks to Abby Joseph Cohen Services. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
The rental flooding in Calgary might also be because parasitic "investors" have recently mass-evicted their tenants so they can substantially jack up the rents, but underestimated how much people are willing to pay. I've never known so many people facing homelessness or already economically-evicted at the same time (remember, zero rent-controls in AB).
Rent controls are a bad idea anyway. They just lead to shortages of rental properties, because no one wants to build new ones. When they tried to put my rent up, I bought a townhouse and moved out, because the cost of the mortgage and other expenses were about the same as the rent. Fact is, they did me a favour, since I now own my own place instead of being a life long renter.
@@my3dviews No. Rent controls work for the general public benefit. If builders won't build because of rent-controls (which tend to be wholly reasonable, in line with inflation, as opposed to provinces without them that allow doubling of rents for no other reason than landlord-greed), they're bullies holding municipalities hostage. It's coercive control. Research Vienna to see how 70-80% of a city's middle-class population can be renters and still live comfortably.
@@lynb1022 If you have enough rental properties, then overcharging for rent, will result in vacant properties. It also leads to properties not receiving enough maintenance. You end up with run down apartments that no one wants to live in. Another result it that rental properties are converted to condos, to avoid rent controls. Which takes more properties out of the rental market and into the homes for sale market. Best is the let the market decide, not the government. If you have rent controls, do you also get property tax controls for the owners? How about insurance premiums controls? Expenses can outpace the rate of the controls and lead to landlords losing money. No one will build new under those conditions. All new buildings will be condos instead.
@@my3dviews Parasites purchase multiple properties and deliberately leave them vacant all the time, in a deliberate strategy to "restrict supply" so they can artificially inflate property values and rents. Stop with the BS narrative about "investors" being "housing providers", because everyone with a brain knows it's not true. Tenants pay their landlords' mortgages and property taxes, which makes landlord "investors" the freeloaders of society. But do go on being an apologist for them. We see you.
@@DTrent-uy1wl When I bought my last house in 1996 I paid 128k. I figured by the time I was 60 it would be worth 350 to 400k. That was my retirement expectation. I'm 61 and it's at 1.1mil. I live in Abbotsford, BC.
I’m a general contractor and when I have my house in Saskatoon with all my bills utilities it’s basically $3500 a month as one individual towards land. I got some renters as it was a RM three property designation over 2000 square-foot house anyways though my hubris led to my loss of my house because I had to have a big house and live by myself so people out there with big houses and big debt. You’re on the hamster wheel you’ve got a clear seven to $10,000 a month just to pay the bills I moved to a small town in Saskatchewan, I live in a house that I paid 15,000 for which is not nice but as a contractor I can fix it up live below your means people we’re headed for an economic collapse and the people in the city that are leveraged are going to lose their homes
I heard from an agent in Calgary that listings are starting to stagnate, and the buyer pool is shrinking. With unemployment at 8%, I think it's going to get worse sooner than expected.
What, Alberta is safe? I don’t know of anyone or any institution that is saying that. Maybe some whacked out real estate agents who really don’t know anything and are least informed professionals out there. The only people I’ve heard this from is BC/Ont folks. I’ve been around long enough to see about 4 recessions/downturns in this province.
I have a feeling that Quebec might be the hardest hit province during the next recession. Most of the bubble there happened because of people taking mortgages at low rates during the pandemic. Right now, I follow listings and I see an uptick in listings and lots of price reductions. Given how incomes are lower there than in the rest of the country and taxes are higher, the situation is unsustainable. The moment job losses skyrocket, inventory will pile up and lots of people will be thrown into misery.
We should not be shocked by this. The house prices are so far out of line with the local economy that it absolutely must return to prices closer to what the local population can afford. The speculators have to suffer, or they will never go away. Unfortunately, many end users have gotten wrapped up in this game, and they can not afford it. FOMO made them anxious that they would never own a house, and that caused lots of bad choices. Regardless, I feel bad that end users are getting hurt by this.
Two words,,mortgage fraud caused all this,, banks have been irresponsible lending out to borrowed from China with fake incomes that bid up homes from laundered drug money,,Pierre has to address bank fraud,, the book willful blindness by Sam Cooper explains the problem,,
Ive seen 2 rentals in downtown Hamilton go from 2000 to 1800. I have a few friends looking and so am i and we are refusing to pay over 2000 for a 3 bedroom. So every application we do we put down what we can afford and go from there. Some places have been up for over 70 days now.
With the current state of economy even with 3% interest rates real estate will not spike due to wage suppression, increase in cost of food , transport & home maintenance, property taxes, utilities
Calgary rocketed in 2012ish because oil tanked and there was a local recession for maybe 5 years or so. Not saying it won't happen again because of this, but 2012 was special because of the massive bloat in O&G. Now they do the same thing with 2/3 or less of the people. They've offshored many roles. This boom in people moving here isn't mainly because of O&G this time. When it drops, it won't be because of that 2010's comparables.
This all boils down to the fact this government is doing a terrible job, supply and demand is the overall force, and temporary intermediate stalls are exactly that temporary, can,t bring in a million plus without upsetting the system, especially if they are mostly unskilled , our country is picking up speed on a downward spiral .
The UCP is, as you suggest, doing a terrible job. I couldn't agree more. They should spend less time worrying about transgender issues and do something to help the average worker.
I don’t feel sorry for these people. Everyone is looking to get into ownership at any cost. A house next door sold for 350k in 2021. Now, the new owner is trying to sell for close to 800k in 2024. The delulu is mad. Lots of people from ON and BC ran here for homes and are now complaining about lack of jobs to pay those ridiculous mortgages. Let’s see how low the insanity lasts.
Free utilities is very common most buildings have 1 power bill everyone splits as Calgary has insane connection fees on the bill. My rental in Calgary had utilities in the condo fees, First months rent is very common around here, always has been always will be. I used to do free rent for December for renters who kept the place clean and paid on time.
The data actually looks okay, especially considering it's coming from recent lows. I suspect the mortgage market isn't the problem but the commercial real estate market is a problem, look at small banks for that.
Calgary has a lot of vacancies but look at the prices! 2800 for an 700 or 800 sqft apartment??? We're in Cochrane, AB and there is not much available but you could get a townhouse between 2200 and 2500! 🤔
Chris from real Saskatchewan, I had a rm3 in Nutana in Saskatoon just off Broadway a very trendy area with a Riverview. The guy sold to is now trying to sell it for $799,000 the core neighbourhoods in all cities I feel are going to shit as they’re so close for gangster because on BMX bikes to terrorize the neighbourhoods move out of large cities that’s my opinion the shit is hitting the fan
I was wondering how you feel things will play out in new Brunswick. I ask because it seems in the east a lot of these properties would be paid for in cash from sales in Ontario. Will that have an effect of being more stable in the near future
A lot of those rental listings in Calgary aren't real. You will not get a reply if you reply to many of them. I have no idea why or what the purpose is.
Gold broke another record high today in both US and CDN dollars. Several record highs broken this year with many more expected. Debt is out of control and there simply must be a reset of the financial system. It simply doesn't work anymore. Who can afford a house in Canada now? Why is that? Debt and money printing out of thin air has caused a massively debased currency (not just Canada but most western countries). Most people are completely blind to what could be heading down the train tracks towards them at full speed. I think the probability of a depression / massive economic re-set is high. It's the only thing that can restore balance to this crazy debt-based system.
Great video. I subscribed, its amazing how real estate speculation and RE bubbles can destroy economies. Maybe it's time Canada starts focusing on producing things of value.
I couldn’t agree with you more. My kids are fretting over how expensive rents are in Toronto, but I assure them just hang tight. As property owners get squeezed, more competition in rental availability will drive rents down. Desperation will render more owners to become more competitive and rents will fall. Besides, how can 2600.00 -3500.00 rent ever remain sustainable? Can’t. Has to fall.
Rents will never be going down. That is why the government has let in such high levels of immigration over the past few years, to keep up the high levels of demand, which maintains the high cost of housing.
Money is rotting, With possible hyperflation, if the world economy wobbles next year, ... rents can easily jump to $10,000 a month in insane rises as has occurred in Lebanon, Zimbabwe.. and Argentina in comparative local currencies. Wages never keep up with asset hyperinflation, but widespread personal and corporate bankruptcies soar.
I predicted some time ago that this fall things would take a down turn in AB. I'm now saying the START of the downturn is this fall. I'll look to maybe buy this winter. I expect a bloodbath in some markets across the country. There HAS to be a major correction. The market forces demand it.
Don't know much about Calgary. But why live there unless there is a well-paying job you really want to keep. It is definitely for Canadians who love winter, but hanging out in ski resorts makes more sense. My take is living in large cities that have both nasty winters and high rents is getting the worst of both worlds. Could somebody tell me the plusses. take care rwmccoy
Maybe the increase in rentals is because the people that are selling are selling to property management companies, and they turn all of them into rentals.
Yeah ok so there might be a lot of people who offer one month's rent free (not that I have seen it) but rent is so much... the price you just showed us ($1800-$2800 for a 388 to 847sqft place) is SO expensive. People are offered a month's free rent just to try make it seem affordable. People are not renting because it is too expensive.
I usually don't see 1bed 1bath and parking for $1800 in Toronto. Now it's very common to see these available or even lower prices. Everything follows Jon chart.
Unfortunately your local city council (who also invested in real state) will make sure no permits are approved to prevent houses to be affordable - Fire your City Council if they are not actively approving growth!
Im not worried about softer rents. If that happens tgey will slash and burn intetrest rates. I would rather lower the rent by $400 and pay $1000 less on my mortgage. It will actually create another opportunity to increase cash flow if we find ourselves in an economy where everyone is so broke they are homeless, rents must fall, but then landlords get 2% mortgages again and the mortgage savings makes up for it.
Student immigration is going to plummet from the immigration announcements in February. Toronto will see about a 500,000 fewer international students compared to last year. That will really help drop rent prices. When people can rent much cheaper, the house prices will have to follow
@@xoxo-gossipgirl888 No government is going to dramatically cut the supply of cheap labour. Business comes first, and business wants workers that they can exploit.
I hope rental rates decrease substantially. There are so many Canadians who can't afford to eat well after they pay their rent. People are really suffering.
My suggestion government should bring a rule to the banking and financial organization that banks and financial organizations must invest and promote productive growth then only they can increase the reserves which they used for lending to make profits. And make provincial government spend on productivity and in quality of life of people by federal government matching a percentage to what the provincial governments spend, similar to structure where employers match when employees contribute to plans this will incentivize and create flow of capital towards welfare of citizens.
Property in AB (other than Calgary) has been flat for years….like 15 years since Saudi kamikaze’d oil in a failed attempt to starve out NA shale producers. Sure, Calgary had a recent influx of “investors” that will get washed out, but AB property gains were tiny compared to ON and BC, so even falling back to 2016 pricing is not that dire.
Alberta's rental market will differ greatly from Ontario and others because there are no rent caps, merely operational costs for landlords. Despite the lies being spewed, Ontario doesn't have a housing shortage; we have a LANDLORD shortage! You're taking a huge risk being a small business landlord in Ontario because if you get stuck with a bad tenant, you're STUCK, not only with price caps, but the operational costs associated with being a landlord, so in Ontario, most people are flippers. The idiot PM, trying to "solve" the problem in a similar fashion as those idiots in Spain and other European countries, assumes the problem is AirBnB and tourism; most landlords would prefer not to go the AirBnB route; they use AirBnB to avoid the stupid far-left regulations on the MUNICIPAL government level. So Trudeau attacking AirBnB will worsen the situation in Ontario, but Alberta doesn't get as many tourists as Ontario, so it makes a lot more sense why rent prices would be slashed in Calgary. Furthermore, I could have sworn there were some water issues in Calgary; the beauty of no-rent controls is DEFLATION, meaning if the city goes to shit, the renter can move elsewhere, which is exactly how it's supposed to be. FREEDOM of movement is far better than "secure" squatter rent control prices, which limit your mobility because no intelligent person or entity will build housing for renters if their profits are CAPPED. With that said Idiot leftists who love to vote for free crap and the right not to work hard tend to gravitate to large cities, which is the variable you have to consider with Alberta's major cities like Calgary, which means that the idiot mayor may try to "solve" any potential housing "problem" by making the problem worse.
Very low intrest and lines of credit for quite a few yrs caused much of this.If you had lots of home equity it was crazy easy to buy second or more homes for speculation or rentals. I actually think this was a very intentional trap. Intrest rake hikes capital gains and non lived in home taxes now will bury many. Robbing the middle class.
I had friends who had no money to retire in the 2008 period. They bought a house with a down payment, leveraged that house to buy there second, third ,forth house. There plan was sell a house as they need money, they lost everything when the housing market collapsed.
@@alexrubin5955 Calgary didn't jump that high. 500K house jumped to 700K. Sure 40% increase but it may fall back to 600K. If prices fall to pre covid levels then you will see people moving in again. Note: I am not a realtor or expert of any kind. Nor I have any interest in seeing prices go up.
Wait till all the east indian fraudsters come up for mortgage renewals....that's when the housing market is not only going to implode....it will disintegrate....this is all part of the plan
Us old people saw this coming. The massive influx of young kids running from other provinces to get the biggest or as many homes they could to make profit off rental was insane. These are kids from ontario and BC losing everything due to stupidity. No one crying here lol
Calgary rental number increase is due to the Woke city governments blanket rezoning changes. Large increase in apartments as one no longer need permits from silly hall to add suites or put in multi unit buildings in residential areas. That said the population is increasing with people moving here much more than most areas as the our economy is stronger than the rest of Canada. People are losing their jobs elsewhere and come Alberta to get ahead. Latest figures are 1/3 emigration from other provinces and 2/3 immigration with 25,0000+ people coming to Calgary annually for the past 4+ years. If the Federal Government stays in their own lane and allows other countries to purchase LNG etc; from Alberta, they'll be fine. The feds recently turned away requests from Japan and Germany. LNG produces 41.5% less CO2 than coal, if China changed 15% of its Coal fired power plants to LNG it would reduce emissions by more than all of Canada, and that;s only China, Yet Canada is the largest exporter of Coal in North America...its not about pollution, it's about control. The fact that they are the economic engine of Canada is the reason they trail other provinces in bankruptcies. A fact the rest of Canada loves to ignore.
Alberta is a boom and bust economy, completely dependent on oil from the tar sands. Its not a diversified economy, so all the economic wealth and jobs are dependent on 1 commodity. Unfortunately, we are now in the bust phase. And, those ontario migrants may think about moving back to the hated Toronto, if there are no jobs in Calgary. You can only live in any province or city, as long as there is a job or source of income. 🤔🤔🤔
Yes! I know so many people who work jn oil and gas and many have been sitting with minimal to no work since Christmas and its going ti get worse since there are very few major projects happening. It always impacts housing when that starts to happen.
Calgary passed new and very contentious bylaw allowing secondary suites and basically removed all zoning requirements. People figure it was not really a debatable topic like council made it out to be because the next week they announced housing money to the city from the federal government. Pretty certain council wanted the money and had to pass this bylaw to get it. Already becoming a mess, secondary suites going into places that don't have enough parking and recently built duplexes that went on 1950s single home lots are now getting secondary suites effectively going from 1 home to 4 dwellings. So 2 cars to 8 cars. But to your point, this could also mean an influx of struggling people who are hoping to become landlords to offset their costs. No everyone will want to live on the outskirts of a city in a basement suite. Traditional rentals are usually near inner city and university or other educational amenities. Side note: Calgary bike lanes are used minimally and zero in the winter. I bid Calgary good luck in the next few years.
Thanks for the info. Good stuff. BK everywhere, but you wouldn’t know it. Supposedly the economy is booming, full employment, money sloshing around everywhere. House prices will double again, by next week. Oh happy days are here again.
I live in Calgary and saw a property I’ve been eyeing dropped by 59k just today (needs work). 488k, dropped to 429k. Been watching the market like a hawk for 2 years, and there is a lot of listings sitting now, some drops are starting to happen, but I feel like we’ll see an accelerated drop as things get worse. I haven’t seen a stale market like this before, and most people I talk to are waiting on the affordability to level out.
Is this in Ogden? Lol I love how the green line to there was cancelled and now speculators and dumping their property. Same thing with the dummies that bought in Livingston on the premise the green line was guaranteed. Lmao
@@WizardHarry69 Highwood in the NW. Yeah, I noticed better prices and more inventory in ogden lately! I can't wait for the speculation to end. Omg.. the green line 🤦🏻♂it gets shorter each time we have an update!
@@Comedy4The21Century Im excited for this. What happens when people can't pay their rent after moving here and burning through their savings and the landlord can't make the mortgage. More homelessness and more new investors dumping. Wait for the damn to break and a flood of inventory but also keep an eye on this council preventing any more building if they see prices in free fall they are all corrupt
Bank sales= stay away. The worst real estate deal you can have dealing with a bank sale. Why? Calgary is TOAST! Has been all the time. People just got screwed by speculators moved from Ontario to Calgary. Work with a real Realtor and you will be able to read all these speculators asap. Need more?
Wouldn’t expect anything less from a realtor ( they want there over rated commission). Do your own home work and then maybe contact a realtor if you can’t find your happy zone
Calgary saved people from jumping into the pool with rest ON and BC residents taking out hefty mortgages just to call a place their home. You can still buy a decent detached house for 550-650 in most of the city of Calgary. You'd be lucky if you could get a stacked townhouse in GTA for that(Toronto Resident here by the way, with rentals in Calgary). I may be biased because I have properties in Calgary but I stopped investing in ON and started investing in Calgary in 2021, because of the craziness here - I witnessed homes going 400-500K over asking - still never seen that in Calgary, never will (I think). All my investments are cashflow positive even at today's rates, all of them are in best areas and way better tenants than I ever had in ON. I am a firm believer that Calgary market has been growing at a sustainable rate, not as crazy as here in ON. Huge fan of yours Mr. Flynn but Calgary will still grow for a few more years and I am willing to bet on that.
I think if you correlated Alberta's mortgages to the price of oil and also major interference in the energy industry, i.e., Trudeau coming to power. You would find a much better correlation.
Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and assets in place, investment returns can still vary between investors. It's important to recognize that experience is a key factor in achieving success. I came to understand this myself and sought the advice of a market analyst, which helped me grow my account to nearly a million. I wisely withdrew my profits just before the market correction and am now capitalizing on new buying opportunities.
Please can you leave the info of your investment advisor here? I’m in dire need for one
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
My house was 350K now 850K but my money is worth 1/2 so the house is the same price. My wages were x and still x. My groceries are high, gas, expenses all doubled. I am poor thanks to the Liberals
Atleast someone here can do math....good on you given that you should be ok even tho it's pretty shitty right now you have the smarts to get through
Don’t forget your roof will need replacing soon. Just thought you’d like to know!
And Conservatives, too; they also never stopped worldwide mass-immigration & foreign-money laundering.
@@sovereignty14 when did the conservatives ever let in over 500k immigrants and immediately converted them to permanent residents...answer is never.....when did harper sell off ALL of our minerals and mines to china....answer again is NEVER....you deluded fool
@sovereignty14 yeah the decline started long before the liberals they just speed things up 😊
I am in AB, and I don't know of anyone who thinks we are untouchable. In fact I feel we have been feeling the pinch the longest out of all the provinces due to all the policies from government in recent years.
Agreed, people from Alberta are used to the feast or famine of life. It's the new people who will be shocked. Or very young ones that graduated on CERB
man, watching young people take out 1.2 million $ mortgages for townhouses was like watching people march towards a cliff....
That's crazy. I paid $231k a decade ago. Which seemed a lot at the time. Now have less than a third of my mortgage to go.
Not many will be able to pay back $1.2 million. Many will just default, lose their property and destroy their credit rating.
@@my3dviewsit is crazy because it doesn’t exist. There’s no such thing as a million dollar townhome in Calgary. Fearmongering.
@Hypeman10 op doesnt mention calgary, there are certainly 1.2 million $ townhouses in the gta
@@Hypeman10 Well, I just looked on some realty sites and there are in fact townhomes in Calgary for over 1 million dollars. One is even $1.75 million. 2267 sq. feet with 3 bedrooms.
Just look up luxury townhomes in Calgary. There are quite a few over $1 million.
So, it isn't fearmongering.
Well said
Was talking with an Ubereats driver in Edmonton, AB and was surprised to find out what he told me. He moved from Toronto 4 months ago. He used to make $1500 and up for 80 hrs of delivery every week there, and now he regrets moving to Edmonton and is thinking to go back because for same amount of time and kms driving he is barely making $1000 a week in Edmonton. He told me lots of couriers like him have moved to Alberta either calgary or Edmonton and the y r in same position. This is a typical example that sh#@t gonna hit the fan soon in Alberta. Especially with unemployment rate creeping up.
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.
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 ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.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.
Calgary here, the rental market is 100% flooded. My husband and I decided to move to a smaller property and were god smacked at how many properties are available. I have never seen the rental market like this in the past 20 years. Every property I contacted I received a response that it was still available and literally chasing me to come view it. There is definitely over extended investors that are going to feel pain in the next year.
Kingston (On) here... just starting to see same rental market...six months ago 50 messages an hour after a rental ad, now only a few responses a day later. House prices also dropping from highs, otherwise they don't sell.
Depends where you are, I rented my house in springbank hill for top dollar in a day with tenants chasing me. There are always micromarkets for everything no matter where you go. Same goes for sale as it goes for rentals.
@@arvinderthethi5122 probably brown people who are making millions scamming TFW/ LMIA scheme.
Thanks for the info.
Vancouver island is still really tight. Landlords are pretty much requesting essays with why you are worthy.
We manage 80 properties in Calgary. All are rented. Recent vacancies filled fast. These rental incentive ads are for condos less desirable. Calgary has very few distressed sales right now. Even from 2012 to 2020 out foreclosures were no where near as bad as the 90s.
Thanks for the info
Also, I watched a video on RUclips about the rental units being takin over by big property management companies and increasing the rent 500 and plus. These are people living on fixed incomes, our seniors. There are no rental regulations in Calgary…. outrageous!
Thanks for the info
yup at my 80's apartment the rent used to be 900 for new tenants in 2019 after it get sold in 2020 1600 and today 2100 thankfully BC law protect me from this however anyone who move in won't last a year way too expensive
Except for the Residential Tenancies Act which is law for the entire province of Alberta.
We don’t want rent control in Alberta. You remove investors the life blood our market.
A lot of Toronto residents paid over asking price in Calgary thinking they have hit the jackpot. It will be interesting to see how fruitful their rental investment turns out to be in the longer run. Alberta rents went pretty high and if we run into recession with oil prices going down, it will test the limits. I am not an expert though.
Still remember someone told me they run from Calgary because last time job cuts.
@@xoxo-gossipgirl888 True. Many people move out of AB when energy prices come under pressure or big energy companies merge and do layoffs. Something to do with a large number of jobs being contract-based.
Alberta like the rest of Canada is already in a recession people can't afford $700k average home price in good times they won't today, higher oil prices are only beneficial to oil companies and the top 10% of the wealthy who hold stocks in them and ofcourse government coffers but not really the average worker.
The only way they can make a return is by renting to people who will destroy the property.
There are slums popping up all over. Nobody can afford $2500 a month, but if you turn it into a flop house and jam 15 people in there they can.
@@RippDrive@RippDrive Yes, there is one rental in my street owned by an out-of-province guy who lived here for a few months during COVID.
There are definitely more than 10 people. They also occasionally rent rooms on Airbnb. Late-night activity, loud vehicles, loud people. The landlord doesn't care for the same reason. If oil takes a dip for any reason, expect affordability to worsen.
In Calgary and surrounding areas, it’s been impossible to find a rental for the past 5 years. This got much worse as all of Ontario fled to here during the totalitarian period. But, there aren’t as many jobs here as the population demands, the mayor of Calgary has proven herself to be as bad or worse than the places these transients came from, and the prices are ridiculous across the board. So, people are leaving….
Yeah, that’s what I noticed here in Calgary as well, extremely hard to find places to rent. So I don’t know why people are seeing the market is flooded unless this has been a very, very recent change.
Hard to feel sorry for ppl that purchased over asking and above their means....
I woke up to the tragic drawbacks of our debt-based financial system during the last financial crash. Through discipline, determination and Abby Joseph Cohen my financial advisor, I was able to retire recently in my early '50s with a bit of land in the Williamson act on the California coast and an investment portfolio that can sustain my daily living. I try to spread the word and encourage many people I meet it is possible to achieve the goal of independence. Living below your means can be enormously rewarding!
Practice humility and above all, Invest in the financial markets with expert guidance.
I know this lady you just mentioned. Abby Joseph Cohen Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Abby Joseph Cohen has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
How can i reach her, if you don't mind me asking?
Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Been debt free for two years thanks to Abby Joseph Cohen Services. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
Thank you for putting this out looked--up ABBY JOSEPH COHEN SERVICES, her consuIting page came up at once, she seems highly grounded
The rental flooding in Calgary might also be because parasitic "investors" have recently mass-evicted their tenants so they can substantially jack up the rents, but underestimated how much people are willing to pay. I've never known so many people facing homelessness or already economically-evicted at the same time (remember, zero rent-controls in AB).
True. Its greed all around
Rent controls are a bad idea anyway. They just lead to shortages of rental properties, because no one wants to build new ones. When they tried to put my rent up, I bought a townhouse and moved out, because the cost of the mortgage and other expenses were about the same as the rent. Fact is, they did me a favour, since I now own my own place instead of being a life long renter.
@@my3dviews No. Rent controls work for the general public benefit. If builders won't build because of rent-controls (which tend to be wholly reasonable, in line with inflation, as opposed to provinces without them that allow doubling of rents for no other reason than landlord-greed), they're bullies holding municipalities hostage. It's coercive control. Research Vienna to see how 70-80% of a city's middle-class population can be renters and still live comfortably.
@@lynb1022 If you have enough rental properties, then overcharging for rent, will result in vacant properties. It also leads to properties not receiving enough maintenance. You end up with run down apartments that no one wants to live in.
Another result it that rental properties are converted to condos, to avoid rent controls. Which takes more properties out of the rental market and into the homes for sale market.
Best is the let the market decide, not the government.
If you have rent controls, do you also get property tax controls for the owners? How about insurance premiums controls? Expenses can outpace the rate of the controls and lead to landlords losing money. No one will build new under those conditions. All new buildings will be condos instead.
@@my3dviews Parasites purchase multiple properties and deliberately leave them vacant all the time, in a deliberate strategy to "restrict supply" so they can artificially inflate property values and rents. Stop with the BS narrative about "investors" being "housing providers", because everyone with a brain knows it's not true. Tenants pay their landlords' mortgages and property taxes, which makes landlord "investors" the freeloaders of society. But do go on being an apologist for them. We see you.
My house is worth a lot of money by todays standards. I don't care if it drops 350,000, so long as my millennial kids can afford to buy a home.
What led you to the amount of $350K? You probably think 15-20% drop. That is where you are wrong
@@DTrent-uy1wl
When I bought my last house in 1996 I paid 128k.
I figured by the time I was 60 it would be worth 350 to 400k. That was my retirement expectation.
I'm 61 and it's at 1.1mil.
I live in Abbotsford, BC.
@@Stormshfteryou’re so lucky 🎉
@@DTrent-uy1wl even if home prices remaining equal, you’re still losing at least 5% a year to inflation.
@@Stormshftersell now and escape Canada while you still can!
I’m a general contractor and when I have my house in Saskatoon with all my bills utilities it’s basically $3500 a month as one individual towards land. I got some renters as it was a RM three property designation over 2000 square-foot house anyways though my hubris led to my loss of my house because I had to have a big house and live by myself so people out there with big houses and big debt. You’re on the hamster wheel you’ve got a clear seven to $10,000 a month just to pay the bills I moved to a small town in Saskatchewan, I live in a house that I paid 15,000 for which is not nice but as a contractor I can fix it up live below your means people we’re headed for an economic collapse and the people in the city that are leveraged are going to lose their homes
Great comment, thanks for the info
I heard from an agent in Calgary that listings are starting to stagnate, and the buyer pool is shrinking. With unemployment at 8%, I think it's going to get worse sooner than expected.
That buyer surge was all the Ontarians heading west
@@retrogamer82 exactly!
Don't worry east Indians will buy them all up and then rent them out to all for the low low price of everything they have
@@retrogamer82and British Columbia’s heading east…
If houses in Surrey, B.C drop from 1.5 to 1M that would be my floor price for a house to jump into a detached
What, Alberta is safe? I don’t know of anyone or any institution that is saying that. Maybe some whacked out real estate agents who really don’t know anything and are least informed professionals out there. The only people I’ve heard this from is BC/Ont folks. I’ve been around long enough to see about 4 recessions/downturns in this province.
Thanks for the comment
2008 oil prices crashed and we were bust cycle in oil that's why that happened, don't compare alberta to the other nanny states in this country
I have a feeling that Quebec might be the hardest hit province during the next recession. Most of the bubble there happened because of people taking mortgages at low rates during the pandemic. Right now, I follow listings and I see an uptick in listings and lots of price reductions. Given how incomes are lower there than in the rest of the country and taxes are higher, the situation is unsustainable. The moment job losses skyrocket, inventory will pile up and lots of people will be thrown into misery.
We should not be shocked by this. The house prices are so far out of line with the local economy that it absolutely must return to prices closer to what the local population can afford. The speculators have to suffer, or they will never go away. Unfortunately, many end users have gotten wrapped up in this game, and they can not afford it. FOMO made them anxious that they would never own a house, and that caused lots of bad choices. Regardless, I feel bad that end users are getting hurt by this.
Toronto and Vancouver prices will never return to what the locals can afford unfortunately.
Well put.
Two words,,mortgage fraud caused all this,, banks have been irresponsible lending out to borrowed from China with fake incomes that bid up homes from laundered drug money,,Pierre has to address bank fraud,, the book willful blindness by Sam Cooper explains the problem,,
Ive seen 2 rentals in downtown Hamilton go from 2000 to 1800. I have a few friends looking and so am i and we are refusing to pay over 2000 for a 3 bedroom. So every application we do we put down what we can afford and go from there. Some places have been up for over 70 days now.
ive seen some vacant units in lowrise buildings, uptown toronto on the market for over 6 months
Nice.
I don’t want to brag but… I said rents were going to crater. Well here we go!
@@stevestevens502their hubris will be their downfall.
Jon, 20,000 subs is crazy, congrats man!!!!
With the current state of economy even with 3% interest rates real estate will not spike due to wage suppression, increase in cost of food , transport & home maintenance, property taxes, utilities
Calgary rocketed in 2012ish because oil tanked and there was a local recession for maybe 5 years or so. Not saying it won't happen again because of this, but 2012 was special because of the massive bloat in O&G. Now they do the same thing with 2/3 or less of the people. They've offshored many roles. This boom in people moving here isn't mainly because of O&G this time. When it drops, it won't be because of that 2010's comparables.
This all boils down to the fact this government is doing a terrible job, supply and demand is the overall force, and temporary intermediate stalls are exactly that temporary, can,t bring in a million plus without upsetting the system, especially if they are mostly unskilled , our country is picking up speed on a downward spiral .
The UCP is, as you suggest, doing a terrible job. I couldn't agree more. They should spend less time worrying about transgender issues and do something to help the average worker.
great job Jon, appreciate your commitment and time you spend to prepare those videos, it really helps to understand the market, cheers from Calgary
I don’t feel sorry for these people. Everyone is looking to get into ownership at any cost. A house next door sold for 350k in 2021. Now, the new owner is trying to sell for close to 800k in 2024. The delulu is mad. Lots of people from ON and BC ran here for homes and are now complaining about lack of jobs to pay those ridiculous mortgages. Let’s see how low the insanity lasts.
I have a feeling Calgary's market will crash hard.
Mortgage arrears vs BoC cuts: Nice chart. Delving deeper seems to indicate arrears as a leading indicator for the BoC.
This suggest we should be paying close attention to Mortgage Arrears on a micro time basis.
Possibly, thank for watching
Great stuff and awesome information. I have watched your channel for a very long time. You predicted this very long time ago. Many Thanks, Jon
Cool, thanks
Free utilities is very common most buildings have 1 power bill everyone splits as Calgary has insane connection fees on the bill. My rental in Calgary had utilities in the condo fees, First months rent is very common around here, always has been always will be. I used to do free rent for December for renters who kept the place clean and paid on time.
What is the average rental price in Calgary? How many can afford them?
The data actually looks okay, especially considering it's coming from recent lows.
I suspect the mortgage market isn't the problem but the commercial real estate market is a problem, look at small banks for that.
Calgary has a lot of vacancies but look at the prices! 2800 for an 700 or 800 sqft apartment??? We're in Cochrane, AB and there is not much available but you could get a townhouse between 2200 and 2500! 🤔
Those Calgary prices are speculation due to the necessity of carrying costs.
Hedge against inflation by going long with physical gold & silver… before they become unobtainium.
How many are dual Citizens simply running up debt and then skipping the country?
Montreal can still make sense as a cash buyer to buy a condo and rent with a close to 10 percent return. With a mortgage still makes no sense.
Alberta is calling.... The number you have reached is not in service at this time.
😂
Love it
Chris from real Saskatchewan, I had a rm3 in Nutana in Saskatoon just off Broadway a very trendy area with a Riverview. The guy sold to is now trying to sell it for $799,000 the core neighbourhoods in all cities I feel are going to shit as they’re so close for gangster because on BMX bikes to terrorize the neighbourhoods move out of large cities that’s my opinion the shit is hitting the fan
I was wondering how you feel things will play out in new Brunswick. I ask because it seems in the east a lot of these properties would be paid for in cash from sales in Ontario. Will that have an effect of being more stable in the near future
Alberta ends fiscal year with $4.3B surplus 2023
If that's true, Albertans won't see the benefits. It'll mostly go to a few hundred crooks and their foreign pals.
A lot of those rental listings in Calgary aren't real. You will not get a reply if you reply to many of them.
I have no idea why or what the purpose is.
Gold broke another record high today in both US and CDN dollars. Several record highs broken this year with many more expected.
Debt is out of control and there simply must be a reset of the financial system. It simply doesn't work anymore. Who can afford a house in Canada now? Why is that?
Debt and money printing out of thin air has caused a massively debased currency (not just Canada but most western countries). Most people are completely blind to what could be heading down the train tracks towards them at full speed. I think the probability of a depression / massive economic re-set is high. It's the only thing that can restore balance to this crazy debt-based system.
Love gold
Great video. I subscribed, its amazing how real estate speculation and RE bubbles can destroy economies. Maybe it's time Canada starts focusing on producing things of value.
Thanks for the sub!
Couldn’t agree more
@@LorenzoCalgaryRealtorhow's this month doing? Business is good?
I couldn’t agree with you more. My kids are fretting over how expensive rents are in Toronto, but I assure them just hang tight. As property owners get squeezed, more competition in rental availability will drive rents down. Desperation will render more owners to become more competitive and rents will fall.
Besides, how can 2600.00 -3500.00 rent ever remain sustainable? Can’t. Has to fall.
Rents will never be going down.
That is why the government has let in such high levels of immigration over the past few years, to keep up the high levels of demand, which maintains the high cost of housing.
Money is rotting, With possible hyperflation, if the world economy wobbles next year, ... rents can easily jump to $10,000 a month in insane rises as has occurred in Lebanon, Zimbabwe.. and Argentina in comparative local currencies. Wages never keep up with asset hyperinflation, but widespread personal and corporate bankruptcies soar.
@@ThePrairieChroniclesyour first mistake was renting to a non Canadian
So what you're suggesting is as rates go up, people become more 'responsible' ??? Or do they just realize the have more to lose ???
I predicted some time ago that this fall things would take a down turn in AB. I'm now saying the START of the downturn is this fall. I'll look to maybe buy this winter. I expect a bloodbath in some markets across the country. There HAS to be a major correction. The market forces demand it.
Why are people surprised by this? Theyve spent the last four years creating the perfect storm
It started long before that. When they abandoned the gold standard. 1971.
@@jonathanandrew2909 You right, covid was their final domino
Don't know much about Calgary. But why live there unless there is a well-paying job you really want to keep. It is definitely for Canadians who love winter, but hanging out in ski resorts makes more sense. My take is living in large cities that have both nasty winters and high rents is getting the worst of both worlds. Could somebody tell me the plusses.
take care
rwmccoy
Maybe the increase in rentals is because the people that are selling are selling to property management companies, and they turn all of them into rentals.
It’s mostly new construction by the looks of it from speculators
Yeah ok so there might be a lot of people who offer one month's rent free (not that I have seen it) but rent is so much... the price you just showed us ($1800-$2800 for a 388 to 847sqft place) is SO expensive. People are offered a month's free rent just to try make it seem affordable. People are not renting because it is too expensive.
The government is giving grants for people who want to develop their basement and too many rental property, which will likely cause real estate crash.
The government is desperate for sure
Ontario is toast. Calgary is trending towards a balanced market.
I could sure use a bailout myself right around now.
Im seeing way more rentals up now!
All those brand new rentals by COP. Calgary doesn't have enough water to support this insane growth.
@@TBonerton sorry I'm in Ontario
I usually don't see 1bed 1bath and parking for $1800 in Toronto. Now it's very common to see these available or even lower prices. Everything follows Jon chart.
@@TBonerton what's up with the water situation anyway? I figured Alberta had lots of lakes and rivers
Lots of people moving back home.
hey, cool video. why do mortgage arrears pick up when borrowing costs go down? 13:20
Due to the lag, house prices will also go down. By the time arrears and prices are at their lows so will interest rates.
Also the price of the home deminishes below what they paid and becomes a prophecy where you're paying more than its worth back to the bank.
Unfortunately your local city council (who also invested in real state) will make sure no permits are approved to prevent houses to be affordable - Fire your City Council if they are not actively approving growth!
So much good news coming out of Canada these days, please, i just cant handle anymore good news.
😂
Toronto ranked most overvalued real estate bubble in the world.
Im not worried about softer rents. If that happens tgey will slash and burn intetrest rates.
I would rather lower the rent by $400 and pay $1000 less on my mortgage.
It will actually create another opportunity to increase cash flow if we find ourselves in an economy where everyone is so broke they are homeless, rents must fall, but then landlords get 2% mortgages again and the mortgage savings makes up for it.
That is, 2.6 TIMES more crashes. Yehlen announced it many months before that many banks will be let fail.
Student immigration is going to plummet from the immigration announcements in February. Toronto will see about a 500,000 fewer international students compared to last year. That will really help drop rent prices. When people can rent much cheaper, the house prices will have to follow
crazy up and down numbers, the government has no strategy.
Exactly!
After next election, hope there is more cuts on refugees, students!
It really wont plummet dont get your hope up
@@xoxo-gossipgirl888 No government is going to dramatically cut the supply of cheap labour. Business comes first, and business wants workers that they can exploit.
I hear there's a lot of pent up insolvency
😂
A tsunami warning just went out
😂
We’ve been in the longest expansion in history (no recession in 15 years?!). Really?! Do you believe this?
😂😅😊
Time to buy!
I hope rental rates decrease substantially. There are so many Canadians who can't afford to eat well after they pay their rent. People are really suffering.
I hope so too
My suggestion government should bring a rule to the banking and financial organization that banks and financial organizations must invest and promote productive growth then only they can increase the reserves which they used for lending to make profits.
And make provincial government spend on productivity and in quality of life of people by federal government matching a percentage to what the provincial governments spend, similar to structure where employers match when employees contribute to plans this will incentivize and create flow of capital towards welfare of citizens.
Property in AB (other than Calgary) has been flat for years….like 15 years since Saudi kamikaze’d oil in a failed attempt to starve out NA shale producers. Sure, Calgary had a recent influx of “investors” that will get washed out, but AB property gains were tiny compared to ON and BC, so even falling back to 2016 pricing is not that dire.
Very true
Edit: 10 years since Saudi flooded oil market.
Alberta has jingle mail. People are less concerned with going into arrears than other provinces
Nope
Thanks.
This is why I buy everything cash, there are some good deals coming soon
Alberta's rental market will differ greatly from Ontario and others because there are no rent caps, merely operational costs for landlords. Despite the lies being spewed, Ontario doesn't have a housing shortage; we have a LANDLORD shortage!
You're taking a huge risk being a small business landlord in Ontario because if you get stuck with a bad tenant, you're STUCK, not only with price caps, but the operational costs associated with being a landlord, so in Ontario, most people are flippers.
The idiot PM, trying to "solve" the problem in a similar fashion as those idiots in Spain and other European countries, assumes the problem is AirBnB and tourism; most landlords would prefer not to go the AirBnB route; they use AirBnB to avoid the stupid far-left regulations on the MUNICIPAL government level.
So Trudeau attacking AirBnB will worsen the situation in Ontario, but Alberta doesn't get as many tourists as Ontario, so it makes a lot more sense why rent prices would be slashed in Calgary. Furthermore, I could have sworn there were some water issues in Calgary; the beauty of no-rent controls is DEFLATION, meaning if the city goes to shit, the renter can move elsewhere, which is exactly how it's supposed to be.
FREEDOM of movement is far better than "secure" squatter rent control prices, which limit your mobility because no intelligent person or entity will build housing for renters if their profits are CAPPED.
With that said Idiot leftists who love to vote for free crap and the right not to work hard tend to gravitate to large cities, which is the variable you have to consider with Alberta's major cities like Calgary, which means that the idiot mayor may try to "solve" any potential housing "problem" by making the problem worse.
Very low intrest and lines of credit for quite a few yrs caused much of this.If you had lots of home equity it was crazy easy to buy second or more homes for speculation or rentals.
I actually think this was a very intentional trap. Intrest rake hikes capital gains and non lived in home taxes now will bury many.
Robbing the middle class.
I had friends who had no money to retire in the 2008 period. They bought a house with a down payment, leveraged that house to buy there second, third ,forth house. There plan was sell a house as they need money, they lost everything when the housing market collapsed.
The worst is yet to come folks, the higher you jump the harder you fall.
Calgary's going to get train-wrecked.
where "worst" is families having access to the exact same house for less money
@@alexrubin5955 Calgary didn't jump that high. 500K house jumped to 700K. Sure 40% increase but it may fall back to 600K. If prices fall to pre covid levels then you will see people moving in again. Note: I am not a realtor or expert of any kind. Nor I have any interest in seeing prices go up.
Wait till all the east indian fraudsters come up for mortgage renewals....that's when the housing market is not only going to implode....it will disintegrate....this is all part of the plan
@faisal-ca those are assumptions. Now watch what happens in reality
Looks like a lot of people is gonna loose their job soon, so worrying
Don't donate to the food bank. You are subsidizing their mortgage when they should be selling off their assets.
Us old people saw this coming. The massive influx of young kids running from other provinces to get the biggest or as many homes they could to make profit off rental was insane. These are kids from ontario and BC losing everything due to stupidity. No one crying here lol
Jon is livestreaming from the 6th floor of book depository.
Calgary rental number increase is due to the Woke city governments blanket rezoning changes. Large increase in apartments as one no longer need permits from silly hall to add suites or put in multi unit buildings in residential areas. That said the population is increasing with people moving here much more than most areas as the our economy is stronger than the rest of Canada. People are losing their jobs elsewhere and come Alberta to get ahead. Latest figures are 1/3 emigration from other provinces and 2/3 immigration with 25,0000+ people coming to Calgary annually for the past 4+ years. If the Federal Government stays in their own lane and allows other countries to purchase LNG etc; from Alberta, they'll be fine. The feds recently turned away requests from Japan and Germany. LNG produces 41.5% less CO2 than coal, if China changed 15% of its Coal fired power plants to LNG it would reduce emissions by more than all of Canada, and that;s only China, Yet Canada is the largest exporter of Coal in North America...its not about pollution, it's about control. The fact that they are the economic engine of Canada is the reason they trail other provinces in bankruptcies. A fact the rest of Canada loves to ignore.
Thanks for the info
Alberta is a boom and bust economy, completely dependent on oil from the tar sands. Its not a diversified economy, so all the economic wealth and jobs are dependent on 1 commodity.
Unfortunately, we are now in the bust phase. And, those ontario migrants may think about moving back to the hated Toronto, if there are no jobs in Calgary. You can only live in any province or city, as long as there is a job or source of income.
🤔🤔🤔
Yes! I know so many people who work jn oil and gas and many have been sitting with minimal to no work since Christmas and its going ti get worse since there are very few major projects happening. It always impacts housing when that starts to happen.
ahh...taxes the best way for a city to divest itself of businesses and people.
it's a viscous cycle
Calgary passed new and very contentious bylaw allowing secondary suites and basically removed all zoning requirements.
People figure it was not really a debatable topic like council made it out to be because the next week they announced housing money to the city from the federal government.
Pretty certain council wanted the money and had to pass this bylaw to get it.
Already becoming a mess, secondary suites going into places that don't have enough parking and recently built duplexes that went on 1950s single home lots are now getting secondary suites effectively going from 1 home to 4 dwellings. So 2 cars to 8 cars.
But to your point, this could also mean an influx of struggling people who are hoping to become landlords to offset their costs.
No everyone will want to live on the outskirts of a city in a basement suite.
Traditional rentals are usually near inner city and university or other educational amenities.
Side note: Calgary bike lanes are used minimally and zero in the winter.
I bid Calgary good luck in the next few years.
Thanks for the info. Good stuff. BK everywhere, but you wouldn’t know it. Supposedly the economy is booming, full employment, money sloshing around everywhere. House prices will double again, by next week. Oh happy days are here again.
great analysis, thank you.
Did you move into an industrial warehouse?
Bankrupt building
Great back ground
Thanks
Calgary cannot be toast. I thought Alberta was only 1/2 way on its journey to the moon
Mission aborted 😂
My step brother just moved to Edmonton. I told him not too. Now he's stuck with a 500k mortgage but the house is huge. Which means huge bills too
@@marshferguson4737 And it's EDMONTON, ouch.
@@thomash1894 that's what I said! He's pussy we don't get along lol
Thanks for talking about Alberta. I tell people we are trending behind Ontario...no one believes me.
Wait until second quarter 25 things will go terminal…
I'm in the process of moving to AB, and as someone looking to live in their purchase, this is music to my ears.
stay out of Alberta, we dont need Liberal voting pieces os coming out west
I live in Calgary and saw a property I’ve been eyeing dropped by 59k just today (needs work). 488k, dropped to 429k.
Been watching the market like a hawk for 2 years, and there is a lot of listings sitting now, some drops are starting to happen, but I feel like we’ll see an accelerated drop as things get worse.
I haven’t seen a stale market like this before, and most people I talk to are waiting on the affordability to level out.
Is this in Ogden? Lol I love how the green line to there was cancelled and now speculators and dumping their property. Same thing with the dummies that bought in Livingston on the premise the green line was guaranteed. Lmao
@@WizardHarry69 Highwood in the NW. Yeah, I noticed better prices and more inventory in ogden lately! I can't wait for the speculation to end.
Omg.. the green line 🤦🏻♂it gets shorter each time we have an update!
@@Comedy4The21Century Im excited for this. What happens when people can't pay their rent after moving here and burning through their savings and the landlord can't make the mortgage. More homelessness and more new investors dumping. Wait for the damn to break and a flood of inventory but also keep an eye on this council preventing any more building if they see prices in free fall they are all corrupt
Don't know if it's me, but I think it's been about 4 to 5 months that there's rental increases.
"And I didn't pay" 😅😂
🤣
We have hit the peak. Rent will come down drastically over the next year at this rate.
I don’t know about come down. More likely everything will be inflated more except for wages.
Its not normal bidding wars for a house at sky high prices. Math keeps emotions out of it. People gotta learn to control emotions.
Good point
Bank sales= stay away. The worst real estate deal you can have dealing with a bank sale. Why?
Calgary is TOAST! Has been all the time. People just got screwed by speculators moved from Ontario to Calgary. Work with a real Realtor and you will be able to read all these speculators asap. Need more?
please learn how to speak English before you start blabbing on here, you're sentences make no sense
Wouldn’t expect anything less from a realtor ( they want there over rated commission). Do your own home work and then maybe contact a realtor if you can’t find your happy zone
You work in Toronto what do you know about the Calgary market? Probably as little as Jon does.
Calgary is going to become a renter's dream😂 I am a renter.
Calgary saved people from jumping into the pool with rest ON and BC residents taking out hefty mortgages just to call a place their home. You can still buy a decent detached house for 550-650 in most of the city of Calgary. You'd be lucky if you could get a stacked townhouse in GTA for that(Toronto Resident here by the way, with rentals in Calgary). I may be biased because I have properties in Calgary but I stopped investing in ON and started investing in Calgary in 2021, because of the craziness here - I witnessed homes going 400-500K over asking - still never seen that in Calgary, never will (I think). All my investments are cashflow positive even at today's rates, all of them are in best areas and way better tenants than I ever had in ON. I am a firm believer that Calgary market has been growing at a sustainable rate, not as crazy as here in ON. Huge fan of yours Mr. Flynn but Calgary will still grow for a few more years and I am willing to bet on that.
Thanks for the comment
Lol
CASTRO-TRUDEAU MUST GO
Yuuup
I live on the Bruce peninsula and all I see is more and more for sale signs and no sold signs tells me no one is buying anything these days
Calgary has Perennially been in a Boom / Bust economy/cycle
. NO news here.
I think if you correlated Alberta's mortgages to the price of oil and also major interference in the energy industry, i.e., Trudeau coming to power. You would find a much better correlation.