People are not able to afford . People who are thinking that their investment will double in next 3-4 years then good luck from now on first see a decline and when rates are stable then it will increase with 3-4 percent. Dont buy property now instead wait for commodities like gold and silver to fall and then buy. U are saying that most atevat fixed then in 5 years it will be renewa and in 2025 i can bet that interst rates on homes will not fall below 5 percent so look for other alternative investment another than real estate otherwise u will loose.
Question: can u run a scenario where someone watched this video and bought at the peak Feb 2022, how will his/her numbers look after 3 yrs even with higher income ? Bec real estate is down 200-400k down since depending on the product. It’s funny you r making a bull case Bec of 4m Canadians make 100k or 700k Canadians make 200k household income that’s why Canadian RE is resilient. Can you not see the ratios out of 40M Canadians only 700k make household 200k and it’s a developed nation not India. It’s not a great stat. I personally think Canadians home owners investors renters all are stretched to the max Bec of bad govt. policies and even worse personal decisions, we don’t have any wiggle room. If crash comes it will be worse than 1980s unless govt announces a debt jubilee. And that can happen cause Trudeau is power hungry can do anything to get votes.
Navjot you made an assumption that interest rates will come down after 3 years or so. With what is happening in the world and economy we might very well be in next 40 years of rising interest rates and we won't have a choice. From 1980s to current times were times are falling interest rates and things are changing now. Plus there are a lot of flaws in thinking that GTA and GVA will become only rental market. At that point it'll have huge problems cause no one will want to live there anymore. I think it's highly risky to go in Canadian real estate right now no matter what your situation is. I can easily buy something that I want but I've been in sidelines since more than a year. The among I'll pay in mortgage interest alone is much greater than my rent. So I choose to rent and wait to see what happens with the market which there's almost a guarantee won't run up much from here at the least and will stay flat or correct for the buying power.
Thanks for your views. I agree, next 6 to 18 months, we might see a slowdown esp if unemployment increases. One thing though - high interest rates for extended time would lead us into a potential double digit unemployment as businesses would shut down - which is where I feel that 40 years of rising interest rates is very unlikely. The economy won’t be able to afford that. Everyone is talking about the impact of high interest rates on realestate, but no one is talking about small businesses that operate on line of credits and local demand - that impact is far for devastating and difficult to recover from than the one on realestate.
@@growwithnav Yea but regarding house prices too the government, by the amount of pressure as it is, would have to implements policies to have more units and housing starts and have more zoning to avert housing crisis, this would could lead to declining prices. Who knows what's to come but it'll be interesting to watch for sure.
Don’t u think thus rhetoric is recency biased ? Same as Realtors you As a mortgage agent you have to keep that Canadian Dream of owning a house alive as thats what makes you money when immigrants will take more debt and get on the hamster wheel.
@ 6:36 From where do you calculate utilities + insurance $150? My home insurance alone for a house in Edmonton is $225, then utilities another $500-600 bare minimum + $400 property tax.
Interest rates go down Home prices increase People still keep coming to Canada Less people qualify to buy at high price Rental demand goes up - rents increase. We are going towards a renters market in GTA and GVA - within a decade.
this is very risky tbh at todays market . one thing goes wrong and all your life savings will be in garbage .. he is showing rosy picture not the real side
But as you must be aware of if the interest rate will go down, property price may go up, so isn’t it better to buy it lets say by mid next year and then pay high rates for couple months and then once the interest rate started going down, real estate price will go up and you will make the actual profit in terms of property price
Seems like you've invested good amount of time on research. I've been looking for these kind of numbers since few days. Thanks for your time and effort.
you are like bullet train in speaking, I got to lower the speed 0.75 but that did not work either, overall salute to your research and observation and sharing the info.
Wah guruji, you have already declared world economy will be back on growth trajectory in 2026, this can turn out to be a slow churn and 2025 could be a 2008 and we see a turnaround in 2028, again this is hypothetical as well
@@growwithnavAgreed the regulator were alseep then but what about the people who bought at peak and are due to refinance in or after 2025 and would double their payments. In no sane world can someone afford the same lifestyle with doubling of payments. Also thinking about all the speculators who bought multiple properties if you know what i am saying, good luck PS - money is always made in a recession never at the 🔝
Hi Nav, thanks always for posting amazing videos. Can we payoff our existing Mortgage faster by using HELOC? Looking forward for your response on this question. Thank you
Hi Nav, great insightful video as always. Wanted to understand a point- in the investment property you are showing an increase of cad 200 pm in each year. Arent there caps on ability of landlord to increase rent which is enforced by the province? I think in Ontario its about 2.5%. Could you shed some light on this. Thank you
Can i buy home if i dont have PR, i am having closed WP only. If yes i have to pay more on taxes or some other fee? Or the maths would remains identical like normal canadians? I am Ottawa Based.
Markets are oceans not lakes. The aid of an institutional or basic financial managers cannot be over expressed. Take myself, having encountered quite a number of bad trades, I realised following my current Portfolio managerr, how entry, capital, exit, goal and more differ on each assets. Currently hold , I have a $122k portfolio averaging a 12% monthly roi in less than a year following - JULIE ANNE HOOVER’’ my financial advisor, so I do know the importance of basic knowledge and delegation.
Always buy in good business districts like downtown, square one, Kitchener downtown, Burlington lakeshore to name a few. They rent and appreciate a lot better.
Most are priced for the future. Expensive esp in Ontario. Calgary is still better but condos in calgary are the lowest in the realestate foodchain - I don’t usually recommend.
People are not able to afford . People who are thinking that their investment will double in next 3-4 years then good luck from now on first see a decline and when rates are stable then it will increase with 3-4 percent. Dont buy property now instead wait for commodities like gold and silver to fall and then buy. U are saying that most atevat fixed then in 5 years it will be renewa and in 2025 i can bet that interst rates on homes will not fall below 5 percent so look for other alternative investment another than real estate otherwise u will loose.
Snake oil salesman
Question: can u run a scenario where someone watched this video and bought at the peak Feb 2022, how will his/her numbers look after 3 yrs even with higher income ? Bec real estate is down 200-400k down since depending on the product.
It’s funny you r making a bull case Bec of 4m Canadians make 100k or 700k Canadians make 200k household income that’s why Canadian RE is resilient. Can you not see the ratios out of 40M Canadians only 700k make household 200k and it’s a developed nation not India. It’s not a great stat.
I personally think Canadians home owners investors renters all are stretched to the max Bec of bad govt. policies and even worse personal decisions, we don’t have any wiggle room. If crash comes it will be worse than 1980s unless govt announces a debt jubilee. And that can happen cause Trudeau is power hungry can do anything to get votes.
Navjot you made an assumption that interest rates will come down after 3 years or so. With what is happening in the world and economy we might very well be in next 40 years of rising interest rates and we won't have a choice. From 1980s to current times were times are falling interest rates and things are changing now.
Plus there are a lot of flaws in thinking that GTA and GVA will become only rental market. At that point it'll have huge problems cause no one will want to live there anymore. I think it's highly risky to go in Canadian real estate right now no matter what your situation is. I can easily buy something that I want but I've been in sidelines since more than a year. The among I'll pay in mortgage interest alone is much greater than my rent. So I choose to rent and wait to see what happens with the market which there's almost a guarantee won't run up much from here at the least and will stay flat or correct for the buying power.
Thanks for your views.
I agree, next 6 to 18 months, we might see a slowdown esp if unemployment increases.
One thing though - high interest rates for extended time would lead us into a potential double digit unemployment as businesses would shut down - which is where I feel that 40 years of rising interest rates is very unlikely. The economy won’t be able to afford that.
Everyone is talking about the impact of high interest rates on realestate, but no one is talking about small businesses that operate on line of credits and local demand - that impact is far for devastating and difficult to recover from than the one on realestate.
@@growwithnav Yea but regarding house prices too the government, by the amount of pressure as it is, would have to implements policies to have more units and housing starts and have more zoning to avert housing crisis, this would could lead to declining prices. Who knows what's to come but it'll be interesting to watch for sure.
Parth-Nice to see you here as well, how is your summer going?
@@sukhjitsingh8269 it's going good so I still haven't bought a property yet. 😉
Don’t u think thus rhetoric is recency biased ? Same as Realtors you As a mortgage agent you have to keep that Canadian Dream of owning a house alive as thats what makes you money when immigrants will take more debt and get on the hamster wheel.
Navjot, if buying in Canada made any sense at all you would have not be investing in the States. Period. Few
@ 6:36 From where do you calculate utilities + insurance $150? My home insurance alone for a house in Edmonton is $225, then utilities another $500-600 bare minimum + $400 property tax.
Numbers are for a condo :)
I took $500 of condo fee
Don't buy now...Prices are dropping.
Millennials have been hearing that since 2012
@6:53 The whole crux of the video. End of the story
true.. bait, bait, bait....
Hypothetically numbers to prove your points!
So interest rates will go down and rents will go up?😂
Interest rates go down
Home prices increase
People still keep coming to Canada
Less people qualify to buy at high price
Rental demand goes up - rents increase.
We are going towards a renters market in GTA and GVA - within a decade.
this is very risky tbh at todays market . one thing goes wrong and all your life savings will be in garbage .. he is showing rosy picture not the real side
Hypothetically numbers to prove your points! Does not make sense.
Sardarji please talk slowly you are not allowing people to grasp anything
What about individual making $60k in alberta?
I have bought 2 cash flow generating properties this year. Idea is the same as you described in this video. Thank you for very informative video.
💯
@@growwithnavhi do you HV any deals for Kamloops,BC
But as you must be aware of if the interest rate will go down, property price may go up, so isn’t it better to buy it lets say by mid next year and then pay high rates for couple months and then once the interest rate started going down, real estate price will go up and you will make the actual profit in terms of property price
So hard to time it that way esp with the election around the corner.
Seems like you've invested good amount of time on research. I've been looking for these kind of numbers since few days. Thanks for your time and effort.
Very Informative!! Will book call sooner. You are awesome 👏
🙌🙌
you are like bullet train in speaking, I got to lower the speed 0.75 but that did not work either, overall salute to your research and observation and sharing the info.
Thank you 😊
Very very informative and a detailed explanation. Thanks for making this !!
how much do you charge for mortgage?
Wah guruji, you have already declared world economy will be back on growth trajectory in 2026, this can turn out to be a slow churn and 2025 could be a 2008 and we see a turnaround in 2028, again this is hypothetical as well
2008 had the complete opposite economic fundamentals.
@@growwithnavAgreed the regulator were alseep then but what about the people who bought at peak and are due to refinance in or after 2025 and would double their payments. In no sane world can someone afford the same lifestyle with doubling of payments. Also thinking about all the speculators who bought multiple properties if you know what i am saying, good luck PS - money is always made in a recession never at the 🔝
Should someone invest in precon right now since mortgage is expensive but in one year, hoping to make more income/rates coming down?
Precons are priced for future… 3-4 years closing is still fine. 1 year is risky
Can we have a chat regarding a project I have in mind? Just want your inputs and mortgage advice, thanks!
Hi Nav, thanks always for posting amazing videos. Can we payoff our existing Mortgage faster by using HELOC? Looking forward for your response on this question. Thank you
I mean you can… which helps saves you tax. But your debt remains more or less the same. Read about Smiths Maneuver
Hi Nav, great insightful video as always. Wanted to understand a point- in the investment property you are showing an increase of cad 200 pm in each year. Arent there caps on ability of landlord to increase rent which is enforced by the province? I think in Ontario its about 2.5%. Could you shed some light on this. Thank you
No rent control in Alberta :)
Like your videos bro, what software do you use for editing for your podcast ?
Premier pro
Thanks :)
33%of all mortgages will be up for renewal before end os 2024, and 55% before 2025, party is just starting.
Thanks for Insights !!
Another great video and useful tips.. thank you Navjot
Thank you 😊
Since interest rate is high, is it best to enter a precon that will be ready for closing mid 2025?
Precons are priced for future … made a video on that..
@@growwithnav Sure; Thanks. I was asking if a precon with a firm closing date of summer 2025 is safe?
Looking at US bonds do you still suggest buying a property is right path now?? People are predicting crash sooner or later
Man spit Knowledge with the Numbers to prove it🎉❤ need more People like this
Can i buy home if i dont have PR, i am having closed WP only.
If yes i have to pay more on taxes or some other fee? Or the maths would remains identical like normal canadians? I am Ottawa Based.
Markets are oceans not lakes. The aid of an institutional or basic financial managers cannot be over expressed. Take myself, having encountered quite a number of bad trades, I realised following my current Portfolio managerr, how entry, capital, exit, goal and more differ on each assets. Currently hold , I have a $122k portfolio averaging a 12% monthly roi in less than a year following - JULIE ANNE HOOVER’’ my financial advisor, so I do know the importance of basic knowledge and delegation.
You will need to pay 25% NRST on closing. Not worth it.
Any suggestion for UK/London looks like the pain and gain scenario are similar in Wester Economies
Its not unfortunate to buy only 4 times its a leverage. Think from point of banker .
This video validates all the thoughts in my head. Thanks for putting it out there.
thanks to god I followed nav sir channel from starting have gained so much knowledge amazing video nav sir
Thank you 🙏 🙌
Side hustle for 25 years, what a strategy?
❤ grt information
👏👏
can we claim cash flow negative as deductions on your tax return which can lower your salary taxable income ?
Yes you can. But you can’t deduct the entire mortgage payment - only the interest component and other expenses deducted from the gross rents.
Can you plz tell which area to buy condo . Which are good condos and reliable company . Request you to talk a bit sliwly
Always buy in good business districts like downtown, square one, Kitchener downtown, Burlington lakeshore to name a few. They rent and appreciate a lot better.
@@growwithnav thank you so much . Will be soon calling as my son plans to buy .
whats your take on precon condos in calgary?
Most are priced for the future. Expensive esp in Ontario.
Calgary is still better but condos in calgary are the lowest in the realestate foodchain - I don’t usually recommend.
@@growwithnav Any specefic reason! if the city is gonna grow the downtown usually are the first ones to grow and downtown mostly have condos?