If you look at sales prices, houses that are selling now are accepting low offers. In reality, if people want to sell before the winter hits, they need to price for the declining market we're in and not the market of 2022.
I could not disagree more with you that now may be a good time to buy. The factors that are slimly maintaining the current overvalue on home prices have little to do with real market forces and more to do with fear and greed. As more and more folks move to sell their homes due to the extreme costs of carrying them, price support will erode rapidly. All this is set in the background of a failing economy, job losses, real inflation and government over reach. Buying now instead of waiting is probably the most foolish move one can make at this time. To the contrary of your suggestion, my advice would be to sell your home now if you’re feeling the financial strain or your mortgage is approaching maturity, consolidate your finances and position yourself to take advantage in the market when prices fall. Buy low sell high, not the other way around.
@@elai3147No that’s not my point at all. My position is that there’s never been a time economically and politically to take a pause from buying real estate or to liquidate your position if you are financially strained. Do your research and you’ll hopefully come to the same conclusion; there is simply no upside left to the market, and tremendous downside potential at this time.
If you were hoping to pocket the equity in your home, there is still a window to sell right now before the government announces a primary residence gains tax in it's 2025 budget. When that happens early next year, we will see a flood of listings and poor sentiment in the value of Canadian real estate, so that will be an excellent time to buy if you can hold out until spring 2025.
Thank you, I believe the huge amount of sellers today and in the next few years will be the 1.5% to 3% mortgage people that do not want to let their raise double up. Nice rates are going down , that said the affording is another story , you need 250k Can to afford the average home . We have $$ income that helps from our home . I can't see my sons being able to buy in this market . Just nuts.
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If you look at sales prices, houses that are selling now are accepting low offers. In reality, if people want to sell before the winter hits, they need to price for the declining market we're in and not the market of 2022.
great content. keep it up
This fall there is going to be the MASSIVE flood of listings.
Sell now before it's to late
@user-le2hu1ct4t
And the inventory will only continue to rise..
Buyers and investors are to reluctant to jump in
I could not disagree more with you that now may be a good time to buy. The factors that are slimly maintaining the current overvalue on home prices have little to do with real market forces and more to do with fear and greed. As more and more folks move to sell their homes due to the extreme costs of carrying them, price support will erode rapidly. All this is set in the background of a failing economy, job losses, real inflation and government over reach. Buying now instead of waiting is probably the most foolish move one can make at this time. To the contrary of your suggestion, my advice would be to sell your home now if you’re feeling the financial strain or your mortgage is approaching maturity, consolidate your finances and position yourself to take advantage in the market when prices fall. Buy low sell high, not the other way around.
Agreed
so basically your advice is to time the market, never a good idea...
@@elai3147No that’s not my point at all. My position is that there’s never been a time economically and politically to take a pause from buying real estate or to liquidate your position if you are financially strained. Do your research and you’ll hopefully come to the same conclusion; there is simply no upside left to the market, and tremendous downside potential at this time.
If you were hoping to pocket the equity in your home, there is still a window to sell right now before the government announces a primary residence gains tax in it's 2025 budget. When that happens early next year, we will see a flood of listings and poor sentiment in the value of Canadian real estate, so that will be an excellent time to buy if you can hold out until spring 2025.
Thank you, I believe the huge amount of sellers today and in the next few years will be the 1.5% to 3% mortgage people that do not want to let their raise double up. Nice rates are going down , that said the affording is another story , you need 250k Can to afford the average home . We have $$ income that helps from our home . I can't see my sons being able to buy in this market . Just nuts.
Unless there is a world wide economic meltdown we’ll never see 1.5 mortgage rates again
Prices of real estate are still insane, have been for a long time, anyone buying in this market is part of the problem to this insanity!
“… some would say look at the numbers…” I would say let’s enter a dream would where I can create FOMO .. FFS..
You put out some great stuff Oleg, thank you!
Thank you for the kind words!