Global problem now. Where ever there are good jobs the price to live there will be more and more expensive. Best thing anyone can do is find a job that saves them the most money and gives you a life
@@justinjones5281 Canada is full. Hearing stories of people dying in emergency rooms and while waiting for surgeries (long waitlists). Avoid Canada if possible.
Sorry to break this to you, but the other set of clowns aren't going to be any better- plus they will start social conflicts via racism because they're promising the moon and they would not be able to deliver on it.
Quick correction a bit after 1 minute in. You said mortgage interest rates are still coming down, but this is only true for variable rate holders. Yesterday the 5 year Canada benchmark bond was up about 65 bps from the low in September (when we had 3.99 at most of the banks). The banks ate most of that cost for the past 2 months, but you should expect posted rates to increase in the next couple of weeks, and final pricing to be higher.
stop with the daytrader mindset, long bonds have been coming down for 8 months in a row and a 2 week bump up isn't a change in direction, just a back and fill operation as people were front running the lower rates for a while.
Reality is the ones that asked for high interest rates wanting the housing market to crash are now unemployed and now complaining about how bad the economy is.
I live in the West End, there is an empty lot on the corner of my street with a billboard of the beautiful building they're going to construct. It's been 7 years and counting.
Friend of mine has a very successful concrete company (they do private, mostly residential jobs) and he was saying 2 years ago, how bad it was getting. And this past year has been all but dead. They now do basement reno's to try and make ends meet.
Anyone with actual knowledge of the re industry was aware the bottom fell out in *2019* in BC. It's been interesting to see the wild drama play out since. There was a way to course correct back then, but now it's all such a mess. There are some devs that are tbtf but the others will probably quietly all shutter.
Food banks being over whelmed and one thing I’m very concerned about in my area is the amount of sirens I’m hearing. Before Covid it was like once or twice a week but in the past year it’s several times a day. What’s going on???
Foreign temporary workers and hundreds of thousands of refugees are flooding the food banks. Most foreign temporary workers live very frugally and send most of the money back home. Most people in the Philippines still make $10 per day. Approximately 150,000 refugees were resettled between 2013 and 2023 through government-assisted and privately sponsored refugee programs, making Canada one of the largest per capita resettlement countries globally. Additionally, over 430,000 asylum claims were made during the same period, with record levels of claims observed in 2022 and 2023  
Over the last decade (2013-2023), Canada has consistently accepted a significant number of refugees through resettlement programs and asylum claims. Approximately 150,000 refugees were resettled between 2013 and 2023 through government-assisted and privately sponsored refugee programs, making Canada one of the largest per capita resettlement countries globally. Additionally, over 430,000 asylum claims were made during the same period, with record levels of claims observed in 2022 and 2023   This refugee intake includes resettlement efforts for groups such as Syrian refugees, Afghans, and Ukrainians, alongside ongoing programs for other vulnerable populations. In 2022 alone, over 91,000 asylum claims were made in Canada.
It's the opposite. The crash on housing starts only exacerbates the gross shortage in family homes. Gross shortages truly sets high prices in STONE, unable to fall. The only thing that leads to a proper fall in coastal BC single family home prices would be a generalized Depression, resulting in extremely high unemployment and the worst thing of all: deflation. Since monetary policy is pretty aggressive in recent times, we probably won't see a Depression this decade and in 3 or 4 years houses will be off the races again in light of a dire shortage being created today. ie those speculating on land and houses will see their prices double by 2034 - which is merely the SAME trend which has happened to house prices roughly every decade .. SINCE WW2!
@@DummMoney-rr1fi lol, have you been living under the rock. Massive mortgage frauds, unlimited immigration and ultra-low interest rates have fuelled this bubble not good decisions.
‘Ppl who benefited…’ You mean the ~65% of ppl who own homes? 🤔 Plus all the construction workers, lawyers, accountants, building supply stores, banks, mortgage brokers, real estate agents, forest industry, etc? 🧐
There’s a new construction every few blocks in the greater Vancouver region, some sites even have workers banging away on some weekends which is effin annoying. Can you explain how they can afford overtime for workers and going insolvent at the same time? Or if there’s a lag does that mean the buildings under construction will be underwater financially when they are finished?
As always an excellent commentary on the current status of the Toronto new housing market, however at the moment, to bring a project from conception to market these days is closer to 8 to 10 years, it’s certainly a lot more complicated and expensive than the average consumer understands or appreciates.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like gold, silver, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
You can definitely see problems here in Coal Harbour. There's a development for a Terrace-style condo building on West Pender that has been stalled for a few years now. At least they have the exposed metal covered in plastic now, but at one point it was left to the elements and you could see rebar rusting. There may also be problems in the office market, as the re-development of the old CRA building site has stopped. The developer there has now put a bunch of wooden boxes on the site with some dirt in them and is calling it a "Community Garden" which is a well-known method for reducing taxes.
I think most are doing fine. But it doesn’t take a huge % of stressed market participants (developers, investors, end users, lenders) to cause significant disruption
What if we have a reckoning in Canada like DOGE in the US? How many gov't buildings are sitting mostly empty as the employees only come to the office 2 days a week? If these buildings were sold and turned into residential/light commercial, how many units if housing would this add? Same calculations to consider with empty commercial space.
To me this sounds like the entire system is broken and needs revisiting. Not even joking. We can't just sit and point to the old way of doing things as the excuse. Revamp the whole mortgage structure so ordinary people can afford a house and don't have to rent. It's funny how someone can pay their rent but can't qualify for a mortgage. I digress but the system is broken. We need an elon musk
The prices on residential properties are too high compared to income, even if we allow everyone to borrow any amount they want, they still won't be able to pay the monthly payments (plus taxes and other fees).
I'm going to experience probably a 30% shock in lower interest rates because I have a variable mortgage. I'm not sure if you mentioned variable mortgage rates in this video but it may have been a good note to end on. Maybe people have forgotten that they have this opportunity 😊
all economic dialogue isbased on creditees looking toborrow credit, that similar to saying the aircraft needs more fuel, while in the air by creditees to keep the aircraft flying, its a stunt that society seems to find ways to pull it off.
There are more and more concerns about depression. Agree or not, these voices will not come with no reasoning. The world is sure unstable and the economy is getting worse. Be prepared and stay safe.
The goal is not more houses, it is cheaper houses... real people should not have to compete with corporation dollars or reits who get funds at zero interest via stock market.
@@GreenBeanGreenBean but they are not!!! Do even know the price of the cheapest modular home is in whiterock a 1 hr commute to Vancouver? Do you have any clue? >$500,000
@@onecanadianpassportonehous9753 in white rock you are still paying top dollar for the land, but yes some new mobile homes are expensive and actually quite nice (have higher building standards than the province of Alberta)...... but the vast majority of trailers are cheap and lose value and fall apart in under 10 years.
Tldr, building supply is hard, very hard, nothing will change. Its the same in other countries. Real Estate is and forever will be finite and in demand
Tech tip. If you want to rent a condo cheap. Hold a reverse auction in a building. Lowest bid wins. Once you get the offer demand to see the Financials of the landlord. Proof he can pay his mortgage. And a copy of the mortgage terms. Think I am kidding? One of Lambs buildings now has 100 for rent. In ONE building. Brand new. Most at 2k Accept 1500 and first 2 months free. Plus moving expenses.
Steve is very good at spinning CPI as ok. He uses mortage interest rates as an argument. Too bad he full well knows the last year comparable is ending. And so is his argument. Watch the loonie hour to see his face freeze when the other member hits him with reality.
Can someone explain how the F developers go underwater at the current price levels? OK, the prices might be lower now than a year or 2 ago, but are still much higher than pre pandemic levels, and developers were still killing it pre pandemic. It is not like costs rose as much as prices did.
Costs have risen tremendously. Labour cost is up, materials have definately come down since 2021 though but are still higher Regulation cost is high as well. Real estate prices have come down up to 20% in some areas in Canada in the last 2 years. These all combine into a significantly reduced margin for developers. Throw in greater uncertainty in the market and developers sit on the sidelines to see what happens. That causes a slowdown
Interest rates are still very high still making it very risk to start projects, combined with regulation that drag out projects for many years before construction can even start. Not sure how you conclude 'costs don't rise as much as prices did'. Did you not notice any price increases the past three years? All those apply to new construction.
Re: that chart at the 1:07 mark. Rents are definitely not coming down, and that chart is very misleading. Note that it say "asking" rents. This means that a landlord could ask $5000 / mo for a lousy one-bedroom, and when nobody bites and he finally has to lower it to $3000, voila! a 40% rent drop. I would like to see a similar chart showing what people are actually paying, especially at the lower end of the market. If there is any real price drop, it's probably at the high-end luxury segment. Steve speaks of landlords offering a month's free rent. I bet that ain't happening at the affordable end of the market.
@ yep they will. Unless this happens then there just won’t be new supply because the numbers don’t work Also, the currency is losing value quite quickly
Condo is still in the building stage, there wouldn’t even be a receivership if the units were turned over and occupied because it would mean the transactions are complete and the builder has money to pay back the bank.
What are talkimg about they are in my area tons of land assembly happenning Anything by a subway is going. So you should check your stats a bit more Steve
Please stop. For the love of God, stop investing in RE, gold is a better investment. Go look at a chart, if you want an investment, gold is your huckleberry.
The whole economic cycle is far from being done. With the BOC cutting rates faster than the US our CAD has been tanking which will stimulate inflation for all of our imports. And that will put pressure on the BOC to slow or stop rate cuts. The gov'ts seem to be completely out to lunch when it comes to cutting land transfer taxes, investor commercial taxes and other regulations on the real estate sector to push the sector to correct and that's left a ton of people locked out. How long can these bloated prices at 12-13 times income last? This is really unhealthy. Push the investors out of the sector and let them take a hit. Either we get a. real correction or we spend the next 10 yrs in stagflation.
CAD is tanking because oil is tanking, not anything the BoC has done. When the US goes into recession (aka orange man tariffs down the road) the USD goes up and CAD goes down...... when US economy speeds up, USD goes down and CAD goes up.
@@GreenBeanGreenBean With the oil price weak it's not one of those times that we can get away with a divergence of interest rates. The BOC is to blame for the divergence.
@@Stormshfter 100% false, the BoC has nothing to do with the oil price... which is the main reason the currency been dipping (also when oil rocketed higher the CAD went way up, it works both ways)
@@GreenBeanGreenBean Oils been down for months and months. OPEC has been over producing for a year. As soon as J Powell said they weren't going to cut deep and the sentiment on Wall Street was down to 75bsp by next summer everything shifted. Don't look for the can 5 to go under 3 anytime soon
@@Stormshfter canada 5 year bond yield will be under 3 in 6 months or less when the orange man tariffs kick in and stalls the US economy, variable will be lower. the slight bump up in rates was entirely due to the upcoming tariffs which will make all US imports more expensive and will increase US inflation numbers singlehandedly even as it causes a recession.
Relenquishing on the re-fi stress test only further prolongs this gonzo real estate bubble. When it truly bursts, it'll take the economy out all the way to the banks.
I wonder what your thoughts are on the 'Boomers that have been retiring in place', that will start to age out of there forever homes, in large number in the next 5 to 10 years. Do you think there will be a wave of houses coming onto the market as health and such, makes these houses to much for them to keep up
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $375k to around $650k.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
Melissa Terri Swayne is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Ironically 90% of people that own crypto still can’t afford to buy a house. The whales own most of the crypto and the rest are just hoping to get rich.
@@audittheauditors thousands of people able to buy $1500 tickets doesn’t represent all of Canada. Canada is full of millionaires but at the same time there are millions living in poverty. Tons of people on the streets driving BMW, Mercedes, Teslas while thousands also take the bus.
Isnt this exactly whats supposed to happen !!!........finally!!!! 🎉 just cant wait for my $250 gift x2 ill put it into real-estate lol ....... thanks GOV Canada 🇨🇦 😂........
Maybe developers should start creating products catered to end users again, that'll help! Developers are struggling because they can't presell 400 Sqft studios to investors, that's their problem, don't blame the government hahaha.
@@MapleLeafsPWN it’s normally the studios that sell the fastest. Developers would build a entire tower of studios or 1 bedrooms if they could but government won’t let them. They are the lowest barrier of entry for first time buyers.
@@Observer168 the resale market isn't dead, it's very weak. The pre-sale market is legitimately dying right now it is 90 percent down from 10 year average. As rates have fallen down it has not picked back up. Pre-sale market froth had two baked in assumptions. 1. That prices would keep rising so it was okay for me to pay a premium. 2. Rents would keep rising and eventually the condo would be cash flow positive. Both of those assumptions are broken and might not be true again for a long time.
Very few empty homes thanks to the empty homes tax. Only people that can afford to leave them empty are super rich and the ones for sale are only a tiny fraction of all real estate.
How do we “Know “ that interest rates are coming down ? Seems the consensus but statements like that are irresponsible. You can believe it - but as a professional - you do not “Know”.
I honestly don’t understand why anyone would invest in real estate - outside of their primary residence. Stocks will beat real estate. It’s not even close.
The main reason is leverage. A bank will not lend you hundreds of thousands of dollars at low rates to invest in the stock market. A second reason would be the Canadian belief that real estate will only go up indefinitely to the moon even if real-estate prices have been completely decoupled from wages.
@@essadaouiayoub1933 you can use crazy leverage trading crypto. that's why it crashes and goes up so sharply. Add more leverage to RE and it becomes unstable too.
@@essadaouiayoub1933 leverage will cut both ways. It magnifies gains, and LOSSES. People think real estate prices only go up. They’re about to find out otherwise.
Canada needs to dump the Liberal-NDP clown show ASAP and bring in a Conservative government that can align with the new Trump administration. Canadian resources with American entrepreneurship and industrialization would be unstoppable!
Real estate developers going broke and hitting the wall makes me happy! Greedy azzwipes. They should be building affordable homes. Calgary has overbuilt too. Watching the condos for sale now going for rent and sitting empty.
It's like you've never watched Steve's videos where he explains how narrow the margins are for the developers with all the fucking bullshit, taxes and development fees and crazy costs of land.
It really all comes down to our Canadian immigration policies. Here they come from our wonderful neighbors, with so many more migrants. Tents are going to be a great business 😮 I think our Canadian flag needs to be changed to a ⛺️. I'm just kidding.
In this RUclips video, Steve Saretsky provides an excellent summary of the housing environment in Canada. Here are my takeaways: 1. This problem was caused by the central banks around the world forcing the prime rate below the intrinsic rate. This (naturally) led to an escalation of asset values, especially in the housing sector. This imbalance has occurred for the last fifteen years. 2. This central bank behavior was, and it, driven by political force. After all, what is not to like? It is the asset holders that hold sway with the politicians, and if asset values are increasing, everyone is happy. 3. But all booms must end as the asset becomes unaffordable. The housing boom has now ended in Canada and in many countries around the world. 4. Politicians (and Central Banks) are incapable of making correct decisions because their event horizon is the next election. That explains why the Trudeau government is forgiving GST for a couple of months. Most voters love it, and it becomes hidden in the national debt. 5. So, what is the future for housing? As bankruptcies spread throughout the economy, the supply of financing will decrease, and the cost of borrowing will increase. This will reduce housing affordability and ultimately a fall in housing values. 6. Here's what is interesting: the government will panic and bring out the only remedy that remains: drop the prime rate dramatically. But what will result from this? A drop in the Canadian dollar, leading to a drop in the wealth of our society. And I suspect that as the housing sector now "gets it" and knows that the jig is up, societal resources will be directed away from the housing sector, leading to a further drop in values. And the current politicians will get thrown out of office. It is for this reason we have booms and busts in jour society.
!I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated..
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience..
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking??
Constructive Feedback: The AI voice tool you are using feels a bit heavy handed. I recommend easy up slightly. It is getting rid of too much of your voices character. IMO.
Now properties here in Vancouver will skyrocket if there are no new stratas being built other than rentals. The law of supply and demand is in action. Love watching this insanity.
Ya, so much opportunity. 😂 That is why smart money is not touching it. That should be your first red flag. So many better places to invest. Smart investors don't hyper fixate on one sector. What do you know that big money doesn't see? What do you think will happen to population growth with a high unemployment rate... Figure it out.
I got out of the real estate investing market about a year ago. I think its time to get into the stock market for a while. whats the best strategy to invest around 200K in this current market
Agreed, I just use RUclips for research purposes, I run all my major investment through an investment adviser, the market is just too unstable to handle things on your own. I have consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains in close to a decade of having one
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for saving me hours of back and forth investigation into the markets... I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Lived in Canada my whole life. Think about leaving Canada every day with these clowns running the country
Global problem now. Where ever there are good jobs the price to live there will be more and more expensive. Best thing anyone can do is find a job that saves them the most money and gives you a life
@@justinjones5281 Canada is full. Hearing stories of people dying in emergency rooms and while waiting for surgeries (long waitlists). Avoid Canada if possible.
Sorry to break this to you, but the other set of clowns aren't going to be any better- plus they will start social conflicts via racism because they're promising the moon and they would not be able to deliver on it.
You and me both...
@@justinjones5281what jobs?
I will never ever understand how Abbotsford real estate is more expensive than ocean side cities in Hawaii or Florida
Idiots.
Such a dump out there.....its like skid row
Yeah it is a dive and flood zone.
Because Abbotsford has a 2 hour commute to work that people just LOVE.??
@@huskavarnapunkband lol, not everyone works 2 hours away
The Canadian economy is on life support now plus a weakening loonie buckle up it might be a bumpy ride
prepare for liftoff!! The rich are getting richer and will be stimulating this economy
@@DummMoney-rr1fiThey have more dollars, they're not getting richer... Unless they're exporters
The whole world is in the dumps ever since the rate hikes. Everything was booming with low interest rates.
Economical cycles repeat. Look to history….
Might?
Quick correction a bit after 1 minute in. You said mortgage interest rates are still coming down, but this is only true for variable rate holders. Yesterday the 5 year Canada benchmark bond was up about 65 bps from the low in September (when we had 3.99 at most of the banks). The banks ate most of that cost for the past 2 months, but you should expect posted rates to increase in the next couple of weeks, and final pricing to be higher.
No one wants to be first, but when one bank raises they all will.
stop with the daytrader mindset, long bonds have been coming down for 8 months in a row and a 2 week bump up isn't a change in direction, just a back and fill operation as people were front running the lower rates for a while.
@@GreenBeanGreenBean it is a 2 month trend, and it is yet to reverse.
@@alexgardner3125 you must do real bad at investing
3.99% 5 year fixed rates available... What are you talking about?
Reality is finally setting in for some, when it was obvious to those that could zoom out.
Reality is the ones that asked for high interest rates wanting the housing market to crash are now unemployed and now complaining about how bad the economy is.
It will take Canada 20 years to recover from Justin
no, trudeau did so much damage, canada might never recover.
It was the high interest rates that killed everything. We had record low unemployment prior to the rate hikes.
@@Observer168rates weren't that high..it's all the greedy fomo real estate buyers that screwed everything up.
you misspelled Harper, Alberta still hasn't recovered from him.... and PP will be no different.
@@GreenBeanGreenBean shut up libby
I live in the West End, there is an empty lot on the corner of my street with a billboard of the beautiful building they're going to construct. It's been 7 years and counting.
Try building something in Vancouver and you will understand
Friend of mine has a very successful concrete company (they do private, mostly residential jobs) and he was saying 2 years ago, how bad it was getting. And this past year has been all but dead. They now do basement reno's to try and make ends meet.
Anyone with actual knowledge of the re industry was aware the bottom fell out in *2019* in BC. It's been interesting to see the wild drama play out since. There was a way to course correct back then, but now it's all such a mess. There are some devs that are tbtf but the others will probably quietly all shutter.
@@user-le2hu1ct4t we were crazy busy up till 2021, we were turning away jobs up until the interest hikes.
@@user-le2hu1ct4teverything skyrocketed in mid 2021 with ultra low interest rates
I wonder if shady real estate agents on internet media played a part in all of this???
fomo is a powerful but destructive force
is Steve (and other "real estate advertisers") not part of the problem?
you are the problem. NIMBYISM and hyper overregulation caused all of this.
Food banks being over whelmed and one thing I’m very concerned about in my area is the amount of sirens I’m hearing. Before Covid it was like once or twice a week but in the past year it’s several times a day. What’s going on???
Foreign temporary workers and hundreds of thousands of refugees are flooding the food banks. Most foreign temporary workers live very frugally and send most of the money back home. Most people in the Philippines still make $10 per day.
Approximately 150,000 refugees were resettled between 2013 and 2023 through government-assisted and privately sponsored refugee programs, making Canada one of the largest per capita resettlement countries globally. Additionally, over 430,000 asylum claims were made during the same period, with record levels of claims observed in 2022 and 2023  
Over the last decade (2013-2023), Canada has consistently accepted a significant number of refugees through resettlement programs and asylum claims. Approximately 150,000 refugees were resettled between 2013 and 2023 through government-assisted and privately sponsored refugee programs, making Canada one of the largest per capita resettlement countries globally. Additionally, over 430,000 asylum claims were made during the same period, with record levels of claims observed in 2022 and 2023  
This refugee intake includes resettlement efforts for groups such as Syrian refugees, Afghans, and Ukrainians, alongside ongoing programs for other vulnerable populations. In 2022 alone, over 91,000 asylum claims were made in Canada.
You are watching Canada becoming a second world country.
@@Observer168Atleast in poorer countries the working poor have actual homes. In Canada they live in cars and rooming slums.
Attention house-heavy, land-heavy speculators; The Grim Reaper cometh.
It's the opposite. The crash on housing starts only exacerbates the gross shortage in family homes. Gross shortages truly sets high prices in STONE, unable to fall. The only thing that leads to a proper fall in coastal BC single family home prices would be a generalized Depression, resulting in extremely high unemployment and the worst thing of all: deflation. Since monetary policy is pretty aggressive in recent times, we probably won't see a Depression this decade and in 3 or 4 years houses will be off the races again in light of a dire shortage being created today. ie those speculating on land and houses will see their prices double by 2034 - which is merely the SAME trend which has happened to house prices roughly every decade .. SINCE WW2!
@@planesandbikes7353 Long term I agree. Short term , the next couple of years, I'm not so sure. Time will tell.
Let's take it to 50 year highs to cleanse the country of RE addiction 😂
Careful what you wish for.
People who benefited from the housing bubble want everyone else to be careful and keep everything bloated.
@@AmolGharat it's supply and demand, driven by the free people of Canada making good decisions and building wealth
@@DummMoney-rr1fi lol, have you been living under the rock. Massive mortgage frauds, unlimited immigration and ultra-low interest rates have fuelled this bubble not good decisions.
‘Ppl who benefited…’
You mean the ~65% of ppl who own homes? 🤔 Plus all the construction workers, lawyers, accountants, building supply stores, banks, mortgage brokers, real estate agents, forest industry, etc? 🧐
Thanks for the analysis Steve.
There’s a new construction every few blocks in the greater Vancouver region, some sites even have workers banging away on some weekends which is effin annoying. Can you explain how they can afford overtime for workers and going insolvent at the same time? Or if there’s a lag does that mean the buildings under construction will be underwater financially when they are finished?
They are mostly rental condos funded by ultra low interest rates from the government.
8:24 “Bad money will be cleansed” best way to describe post 2020 economy.
As always an excellent commentary on the current status of the Toronto new housing market, however at the moment, to bring a project from conception to market these days is closer to 8 to 10 years, it’s certainly a lot more complicated and expensive than the average consumer understands or appreciates.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like gold, silver, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds.
Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio
It’s really heartbreaking to see how inflation and recession impact low-income families. The cost of living keeps rising, and many struggle just to meet basic needs, let alone save or invest. It’s a reminder of the importance of finding ways to create financial opportunities. You've helped me a lot sir Brian! Imagine i invested $50,000 and received $190,500 after 14 days
Absolutely! Profits are possible, especially now, but complex transactions should be handled by experienced market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
You can definitely see problems here in Coal Harbour. There's a development for a Terrace-style condo building on West Pender that has been stalled for a few years now. At least they have the exposed metal covered in plastic now, but at one point it was left to the elements and you could see rebar rusting. There may also be problems in the office market, as the re-development of the old CRA building site has stopped. The developer there has now put a bunch of wooden boxes on the site with some dirt in them and is calling it a "Community Garden" which is a well-known method for reducing taxes.
Is is just me or can you smell the panic from people who's lives depend on real estate? Sad part. We haven't seen anything yet.
I think most are doing fine. But it doesn’t take a huge % of stressed market participants (developers, investors, end users, lenders) to cause significant disruption
Real estate will most likely just go sideways for a while.
@@Observer168I’m hoping it goes sideways for 6 ish more months.
Ya, it's sad. I hope that all the people who have lost their jobs lately don't get on here( I have)
What if we have a reckoning in Canada like DOGE in the US? How many gov't buildings are sitting mostly empty as the employees only come to the office 2 days a week? If these buildings were sold and turned into residential/light commercial, how many units if housing would this add? Same calculations to consider with empty commercial space.
To me this sounds like the entire system is broken and needs revisiting. Not even joking. We can't just sit and point to the old way of doing things as the excuse. Revamp the whole mortgage structure so ordinary people can afford a house and don't have to rent. It's funny how someone can pay their rent but can't qualify for a mortgage. I digress but the system is broken. We need an elon musk
Agree, Canada needs a DOGE very quick or there won't be a Canada.
The prices on residential properties are too high compared to income, even if we allow everyone to borrow any amount they want, they still won't be able to pay the monthly payments (plus taxes and other fees).
They can pay their rent and a not a mortgage b/c rent is a LOT cheaper than mortgage + hoa + property taxes + insurance + maintenance + utilities
@@HaydonAshurstFamilyrenting into retirement is even more expensive and you end up owning nothing
2% is also within the range 1-3%, Gas prices went up Oct. down Nov.
I'm going to experience probably a 30% shock in lower interest rates because I have a variable mortgage. I'm not sure if you mentioned variable mortgage rates in this video but it may have been a good note to end on. Maybe people have forgotten that they have this opportunity 😊
all economic dialogue isbased on creditees looking toborrow credit, that similar to saying the aircraft needs more fuel, while in the air by creditees to keep the aircraft flying, its a stunt that society seems to find ways to pull it off.
There are more and more concerns about depression. Agree or not, these voices will not come with no reasoning. The world is sure unstable and the economy is getting worse. Be prepared and stay safe.
The goal is not more houses, it is cheaper houses... real people should not have to compete with corporation dollars or reits who get funds at zero interest via stock market.
Move out of Vancouver or Toronto if you want cheaper houses. Tons of small cities in Canada with cheaper houses.
you can go buy yourself a trailerpark home... they are cheap.
@@GreenBeanGreenBean lol 😂
@@GreenBeanGreenBean but they are not!!! Do even know the price of the cheapest modular home is in whiterock a 1 hr commute to Vancouver? Do you have any clue? >$500,000
@@onecanadianpassportonehous9753 in white rock you are still paying top dollar for the land, but yes some new mobile homes are expensive and actually quite nice (have higher building standards than the province of Alberta)...... but the vast majority of trailers are cheap and lose value and fall apart in under 10 years.
Why is the value of house is not coming down?
Cause the materials and the wages keep going up too. With the price of land and government permits
Tldr, building supply is hard, very hard, nothing will change. Its the same in other countries. Real Estate is and forever will be finite and in demand
Check out the small towns. Well priced houses are selling just fine.
Tech tip. If you want to rent a condo cheap. Hold a reverse auction in a building. Lowest bid wins. Once you get the offer demand to see the Financials of the landlord. Proof he can pay his mortgage. And a copy of the mortgage terms.
Think I am kidding? One of Lambs buildings now has 100 for rent. In ONE building. Brand new.
Most at 2k
Accept 1500 and first 2 months free.
Plus moving expenses.
What????
Steve is very good at spinning CPI as ok. He uses mortage interest rates as an argument. Too bad he full well knows the last year comparable is ending. And so is his argument.
Watch the loonie hour to see his face freeze when the other member hits him with reality.
Prices were artificially propped up. They can reverse more quickly than the increase.
Only cities like Vancouver and Toronto are expensive, tons of affordable cities all over Canada
Wrong@@Observer168
When will you connect the dots?
Can someone explain how the F developers go underwater at the current price levels? OK, the prices might be lower now than a year or 2 ago, but are still much higher than pre pandemic levels, and developers were still killing it pre pandemic. It is not like costs rose as much as prices did.
Costs have risen tremendously. Labour cost is up, materials have definately come down since 2021 though but are still higher
Regulation cost is high as well.
Real estate prices have come down up to 20% in some areas in Canada in the last 2 years.
These all combine into a significantly reduced margin for developers. Throw in greater uncertainty in the market and developers sit on the sidelines to see what happens. That causes a slowdown
Interest rates are still very high still making it very risk to start projects, combined with regulation that drag out projects for many years before construction can even start. Not sure how you conclude 'costs don't rise as much as prices did'. Did you not notice any price increases the past three years? All those apply to new construction.
Re: that chart at the 1:07 mark. Rents are definitely not coming down, and that chart is very misleading. Note that it say "asking" rents. This means that a landlord could ask $5000 / mo for a lousy one-bedroom, and when nobody bites and he finally has to lower it to $3000, voila! a 40% rent drop. I would like to see a similar chart showing what people are actually paying, especially at the lower end of the market.
If there is any real price drop, it's probably at the high-end luxury segment. Steve speaks of landlords offering a month's free rent. I bet that ain't happening at the affordable end of the market.
Rates are gonna have to go a whole lot lower if we want to get new housing supply
Won't prices just start rising again..
@ yep they will. Unless this happens then there just won’t be new supply because the numbers don’t work
Also, the currency is losing value quite quickly
With all due respect your tune has changed alot over the past three years.
Better to be on the right side when the ship goes down
@ZFK_VISUALS no kidding I wish more of us thought like that
What happens to the people in the receivership condos? On to the next development? They must live somewhere.
Condo is still in the building stage, there wouldn’t even be a receivership if the units were turned over and occupied because it would mean the transactions are complete and the builder has money to pay back the bank.
Homes should be for living in and not for making money from. Corporate ownership and REITs will outlive any government.
Not sure what Johns talking about on X with these corps. Doesn’t even move the dial on prices or rents
What you saying short term house prices could crash?
they have most likely already started ser
Nope, detached home prices aren’t crashing at all. Just going sideways for the next couple of years.
Big shifts ahead for housing supply and affordability!
Rents falling 10% when theyve gone up 50% the last 5 years aint all that bad. People are living in tents ffs.
What are talkimg about they are in my area tons of land assembly happenning
Anything by a subway is going.
So you should check your stats a bit more Steve
YAY!!!!
I have cash on the sidelines ready to strike when this snowballs
Warren Buffet approves. Right now he has a record 325 billion cash pile.
Please stop. For the love of God, stop investing in RE, gold is a better investment.
Go look at a chart, if you want an investment, gold is your huckleberry.
@donm2067 from what I understand, gold isn't an investment. It's a store of wealth to protect from devaluation of the dollar.
@donm2067 come on Don. Let's get rich!
@@TheRazzaManazza Wealth vs Capital a distinction many do not understand.
The whole economic cycle is far from being done. With the BOC cutting rates faster than the US our CAD has been tanking which will stimulate inflation for all of our imports. And that will put pressure on the BOC to slow or stop rate cuts. The gov'ts seem to be completely out to lunch when it comes to cutting land transfer taxes, investor commercial taxes and other regulations on the real estate sector to push the sector to correct and that's left a ton of people locked out. How long can these bloated prices at 12-13 times income last? This is really unhealthy. Push the investors out of the sector and let them take a hit. Either we get a. real correction or we spend the next 10 yrs in stagflation.
CAD is tanking because oil is tanking, not anything the BoC has done. When the US goes into recession (aka orange man tariffs down the road) the USD goes up and CAD goes down...... when US economy speeds up, USD goes down and CAD goes up.
@@GreenBeanGreenBean
With the oil price weak it's not one of those times that we can get away with a divergence of interest rates.
The BOC is to blame for the divergence.
@@Stormshfter 100% false, the BoC has nothing to do with the oil price... which is the main reason the currency been dipping (also when oil rocketed higher the CAD went way up, it works both ways)
@@GreenBeanGreenBean
Oils been down for months and months.
OPEC has been over producing for a year.
As soon as J Powell said they weren't going to cut deep and the sentiment on Wall Street was down to 75bsp by next summer everything shifted.
Don't look for the can 5 to go under 3 anytime soon
@@Stormshfter canada 5 year bond yield will be under 3 in 6 months or less when the orange man tariffs kick in and stalls the US economy, variable will be lower.
the slight bump up in rates was entirely due to the upcoming tariffs which will make all US imports more expensive and will increase US inflation numbers singlehandedly even as it causes a recession.
rent is mainly lower cause of the season im a 30 year LL
Reading this comment section will make your brain melt
By far the most reliable source of info here. #trust
Relenquishing on the re-fi stress test only further prolongs this gonzo real estate bubble. When it truly bursts, it'll take the economy out all the way to the banks.
Remember Trudope did all of this.
110%
Not feeling your suggestion.
A global view begs to differ. Check just about any major city as a comparison.
International money
I wonder what your thoughts are on the 'Boomers that have been retiring in place', that will start to age out of there forever homes, in large number in the next 5 to 10 years. Do you think there will be a wave of houses coming onto the market as health and such, makes these houses to much for them to keep up
their kids will be helping expecting to inherit that house later.
Everything just goes to their kids.
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $375k to around $650k.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
Melissa Terri Swayne is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Real estate out, crypto in. If you havent realized this yet, you're late to the game
that's what many don't understand, if they sold their houses in 2022 at 50% discount, they could've 4x that money today already.
Ironically 90% of people that own crypto still can’t afford to buy a house. The whales own most of the crypto and the rest are just hoping to get rich.
Most people own crypto hoping they will become rich enough to buy real estate. Most don’t even own a whole bitcoin
@@Observer168 you don't need to own a whole bitcoin to make good returns
How is there a recession when the Taylor Swift concert is sold out and the cheapest seat is 1500. People have excess to spend lol
@@audittheauditors thousands of people able to buy $1500 tickets doesn’t represent all of Canada. Canada is full of millionaires but at the same time there are millions living in poverty.
Tons of people on the streets driving BMW, Mercedes, Teslas while thousands also take the bus.
Credit cards and brain brainwashed millennials and Gen Z
We had an intern that worked all summer to spend all her money on 2 TSwift tickets. Stupidity is a factor
Isnt this exactly whats supposed to happen !!!........finally!!!! 🎉 just cant wait for my $250 gift x2 ill put it into real-estate lol ....... thanks GOV Canada 🇨🇦 😂........
Maybe developers should start creating products catered to end users again, that'll help! Developers are struggling because they can't presell 400 Sqft studios to investors, that's their problem, don't blame the government hahaha.
@@MapleLeafsPWN it’s normally the studios that sell the fastest. Developers would build a entire tower of studios or 1 bedrooms if they could but government won’t let them. They are the lowest barrier of entry for first time buyers.
@Observer168 they used to during the speculation era pre-2022. Now nobody wants them. Look at the condo resale market.
@@MapleLeafsPWN resale market is dead because of high interest rates. They would sell like hot cakes if rates fall below 2% again.
@@Observer168 the resale market isn't dead, it's very weak. The pre-sale market is legitimately dying right now it is 90 percent down from 10 year average.
As rates have fallen down it has not picked back up. Pre-sale market froth had two baked in assumptions. 1. That prices would keep rising so it was okay for me to pay a premium. 2. Rents would keep rising and eventually the condo would be cash flow positive.
Both of those assumptions are broken and might not be true again for a long time.
@@MapleLeafsPWN things will change if rates keep coming down
so many empty houses lol. It's ok reality is catching up and will continue catching up with RE people. Even this channel is like a year behind.
Very few empty homes thanks to the empty homes tax. Only people that can afford to leave them empty are super rich and the ones for sale are only a tiny fraction of all real estate.
@Observer168 lol empty condos listed for sale for months...on my street alone there are 5 houses for sale all empty.
@@fofal are you sure it’s not land assembly? It’s rare to see 5 homes on a city block for sale in Vancouver.
@@fofal the condos sitting empty for months are the ones the builder is trying to sell.... they have more money than you to hold for years.
@@GreenBeanGreenBean no it's not the builder lol
How do we “Know “ that interest rates are coming down ? Seems the consensus but statements like that are irresponsible. You can believe it - but as a professional - you do not “Know”.
I honestly don’t understand why anyone would invest in real estate - outside of their primary residence. Stocks will beat real estate. It’s not even close.
lol
$1M of stocks might beat $1M of real estate. But with $1M investors can buy $5M of real estate
The main reason is leverage. A bank will not lend you hundreds of thousands of dollars at low rates to invest in the stock market. A second reason would be the Canadian belief that real estate will only go up indefinitely to the moon even if real-estate prices have been completely decoupled from wages.
@@essadaouiayoub1933 you can use crazy leverage trading crypto. that's why it crashes and goes up so sharply. Add more leverage to RE and it becomes unstable too.
@@essadaouiayoub1933 leverage will cut both ways. It magnifies gains, and LOSSES. People think real estate prices only go up. They’re about to find out otherwise.
Canada needs to dump the Liberal-NDP clown show ASAP and bring in a Conservative government that can align with the new Trump administration. Canadian resources with American entrepreneurship and industrialization would be unstoppable!
Real estate developers going broke and hitting the wall makes me happy! Greedy azzwipes. They should be building affordable homes. Calgary has overbuilt too. Watching the condos for sale now going for rent and sitting empty.
It's like you've never watched Steve's videos where he explains how narrow the margins are for the developers with all the fucking bullshit, taxes and development fees and crazy costs of land.
Congrats you win for most clueless comment here. Lol
The only real estate worth developing is rental units funded buy ultra low interest rates but it means people still won’t get to own anything.
@@ivanandreevich8568 “developer bad” is such a terrible mindset. Low resolution thinking.
@@Observer168 Super low interest rates amortized over 50yrs.
Good. Crash can't come soon enough, in fact it's long overdue.
U.S houses have dropped and going thru all this last 2 yrs,canada will see the full affects in 2025 ,canada is done ✔️ 😳 .
March 2025 is when the fun part will begin!
Elaborate please ?
@@mr.makedonija2627It will be 5 years since BOC started dropping rates to crazy low levels. Many people I know, renewed early with penalties.
It really all comes down to our Canadian immigration policies.
Here they come from our wonderful neighbors, with so many more migrants.
Tents are going to be a great business 😮
I think our Canadian flag needs to be changed to a ⛺️.
I'm just kidding.
Recession ??? What Recession ??? LOL!!!
In this RUclips video, Steve Saretsky provides an excellent summary of the housing environment in Canada. Here are my takeaways:
1. This problem was caused by the central banks around the world forcing the prime rate below the intrinsic rate. This (naturally) led to an escalation of asset values, especially in the housing sector. This imbalance has occurred for the last fifteen years.
2. This central bank behavior was, and it, driven by political force. After all, what is not to like? It is the asset holders that hold sway with the politicians, and if asset values are increasing, everyone is happy.
3. But all booms must end as the asset becomes unaffordable. The housing boom has now ended in Canada and in many countries around the world.
4. Politicians (and Central Banks) are incapable of making correct decisions because their event horizon is the next election. That explains why the Trudeau government is forgiving GST for a couple of months. Most voters love it, and it becomes hidden in the national debt.
5. So, what is the future for housing? As bankruptcies spread throughout the economy, the supply of financing will decrease, and the cost of borrowing will increase. This will reduce housing affordability and ultimately a fall in housing values.
6. Here's what is interesting: the government will panic and bring out the only remedy that remains: drop the prime rate dramatically. But what will result from this? A drop in the Canadian dollar, leading to a drop in the wealth of our society. And I suspect that as the housing sector now "gets it" and knows that the jig is up, societal resources will be directed away from the housing sector, leading to a further drop in values. And the current politicians will get thrown out of office. It is for this reason we have booms and busts in jour society.
You wrong, depending on the city or area wake up
!I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated..
As a newbie investor, it’s essential for you to have a mentor to keep you accountable.
Ruth Ann Tsakonas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of
information can be a big hurdle. I've been
making more than $200k passively by just
investing through an advisor, and I don't have
to do much work. Inflation or no inflation, my
finances remain secure. So I really don't blame
people who panic.
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience..
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking??
Constructive Feedback: The AI voice tool you are using feels a bit heavy handed. I recommend easy up slightly. It is getting rid of too much of your voices character. IMO.
Now properties here in Vancouver will skyrocket if there are no new stratas being built other than rentals. The law of supply and demand is in action. Love watching this insanity.
Econ 101 baby!!
Ya, so much opportunity. 😂 That is why smart money is not touching it. That should be your first red flag. So many better places to invest. Smart investors don't hyper fixate on one sector. What do you know that big money doesn't see? What do you think will happen to population growth with a high unemployment rate... Figure it out.
@Casey-qm1nd rich people surround me on the west side.
‘Now’ should probably be changed to in 3-5 years (my guess)
@@johnnyboyvan ya I'm talking about smart money, not about people with more money than brains.
Stop rocking back and forth, your making me sick.
Low Canadian dollar should now attract immigrant investors from Asia ready to dive into living the Canadian dream.
Beautiful hahaha LOL
I got out of the real estate investing market about a year ago. I think its time to get into the stock market for a while. whats the best strategy to invest around 200K in this current market
I got into stocks few years ago and my candid advice for a newbie like you is to seek help from market experts rather than RUclipsrs.
Agreed, I just use RUclips for research purposes, I run all my major investment through an investment adviser, the market is just too unstable to handle things on your own. I have consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains in close to a decade of having one
I've been getting suggestions to use a market expert too, but where and how to find one has been challenging, Can i reach out to the one you use?
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for saving me hours of back and forth investigation into the markets... I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
All this crap you're spuing is old news.
Buy Bitcoin. Problem solved. You're welcome.
Anyone feel like Canada is becoming a second world country?
Yup, and on it's way to third world in some parts. We will become what we continue to import