Boom Time for Real Estate After Mortgage Changes?
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- Опубликовано: 28 сен 2024
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Following big changes to Canada mortgage policy, many experts are predicting a boom for its biggest real estate markets - John assesses what's likely to happen
#torontorealestate #torontohousing #canadarealestate #canadahousing
Every realtor in Canada is hoping for the 1.5 dollar house buyer to appear from thin air so they can all collect big commission check
Actually there are some of us who think this is terrible. I am one of them. Don’t paint us all with the same brush.
@@Whiskeytango2178
If you are a realtor with this thinking , then you are not professional realtor who should focus on booming housing growth market with more money for you guys. Housing market is very cyclical . You should earn more when the market is boom. Look at Calgary market , we were low for 7/8 years before. A lot of realtors have no earning and need to change careers. You may see Vancouver and Toronto housing market is always trend up when they have one or two years down market, but not all housing markets can be that stable, you are just lucky if you are in the biggest cities market . If you are in prairies housing market , you will always say boom and boom, because this housing market is extremely cyclical , very short lived .
If everyone waits to list and sell in Jan/Feb, that may lead to a huge surge in supply.
When listening to these PHDs and housing experts it’s ALWAYS IMPORTANT to “follow the money” as Ron Butler says, who is benefiting here? The pumper of course.
I don’t think necessarily think realtors should be held accountable for repercussions of a market crash, but ones like this who continue to lie in order to squeeze what is left out of soon to be victims, are a different story
Why does everyone blame realtors? Are realtors your bank and your brain? 🧠 can you not think for yourself? The housing market is high because of 3 reasons - immigration - supply and demand AND the fact that everyone wants a house. In the 80s and 90s and early 2000s no one wanted to buy like now - so blame yourself for not wanting to rent
@@LifeisapartydresslikeitRealtors charge too much, 5% of 1 million plus is a substantial amount which plays a part in contributing to high house prices
Good thing his nose doesn't grow when he tells untruths
@@nguyenphuongchang3925it’s not what they charge! It’s what the industry charges. You can sell your house yourself! Also, you can negotiate their commission
The government knows how to keep people happy. A good housing market will do that
Jon Flynn, Ron Bulter say it will crash. I believe them. For the past 2 years 50% less home were sold so there is so much supply to be listed. In addition, we are in a recession. Also, 2% of condos are selling, so people can't sell their condos to buy a house. Therefore, home prices are not going up.
Jon Flynn is a bozo. Selection bias clinic. Motivated by viewership and his RUclips clicks. There are lot of valid reasons why the market could go up or down. The only person who is wrong about the real estate outlook is the one who speaks with one-sided certainty.
It is safe to invest your money and wait for the right house and right price because even if home prices go up they will increase by 1-3% over the next 5 years specially when then conservative win the election and flood the market with all kinds of houses. Many Canadians young and old want cheaper homes. Homeowners have kids and their kids want homes. They don't want to sell their home to finance their children's homes.
The realestate crush is coming!
I'm probably wrong, but I'm not so convinced these mortgage changes will translate into higher prices any time soon. People who actually take on one of these mortgages will see their disposable income disappear. To own such a large asset, the seller is likely someone fairly well off who has a low propensity to spend. So, all that really happens (until wages rise notably) is that someone with a high propensity to spend becomes unable to spend, and someone with a low propensity to spend gets money that they won't spend. That's a recipe for low sales, which is a recipe for layoffs.
Pump pump pump 😂
The idea that prices will only go up, even if slightly .. and that all people need is low interest rates to get into the market, regardless of the mortgage amount ... is an utter lunacy.
One of the many factors in the current slow downs is also the negativity pushed by the popular real estate influencers. Come on, guys, if you need to make money and want people to sell or buy homes, say something optimistic. Enough of doom and gloom, we are leaving the high rates behind, and there are several factors to indicate a better ( not crazy) market ahead.
Optimistic words are not going to materialize down payments out of thin air.
Where are the salaries going to come from for the first time home buyers even if they did a mortgage fraud? Lol 😂 It's a very small percentage of people how is it bullish?
People need negotiate this % part of compensation out of agents commission, especially buyers need to do that and just pay a little out of their downpayment and reduce the home price by 2.5% cause they are not paying that commission. That'll serve them better.
Where did the "salaries come from in 2022 ?
@@patrickbrzozowski2961 from low rates and massive mortgage fraud gamble. With low rates, for a certain dollar value of payment represented by median incomes, you could buy a higher value house and people did massive amount of mortgage fraud. Market is stressed BECAUSE OF THIS MORTGAGE FRAUD. Otherwise they were stress tested at 5.25% or contract rate + 2% and should've been totally fine with these interest rates. We don't need to lower rates but instead should let those people who got into mortgage fraud pay for their sins but those people want to pass their bag of sins to the new buyers. What a Ponzi scheme it is!!!
@@patrickbrzozowski2961 from combination of low rates+ mortgage fraud. For a certain amount of payment (corresponding to salaries) people could buy a certain value of house but buying power goes down a lot with these rates hikes. Plus people were doing a lot of mortgage fraud otherwise the market wouldn't be stressed right now cause all those people got stress tested for 5.25% or contract rate + 2%, so they should be totally fine with these rates. So we don't actually need rate cuts but instead have those who committed fraud pay for it but instead they want new buyers to take their bag of sins. What a Ponzi scheme it is!!!
@@patrickbrzozowski2961 from combination of low rates+ mortgage fraud. For a certain amount of payment (corresponding to salaries) people could buy a certain value of house but buying power goes down a lot with these rates hikes. Plus people were doing a lot of mortgage fraud otherwise the market wouldn't be stressed right now cause all those people got stress tested for 5.25% or contract rate + 2%, so they should be totally fine with these rates. So we don't actually need rate cuts but instead have those who committed fraud pay for it but instead they want new buyers to take their bag of sins. What a Ponzi scheme it is!!!
@@patrickbrzozowski2961 from combination of low rates+ mortgage fraud. For a certain amount of payment (corresponding to salaries) people could buy a certain value of house but buying power goes down a lot with these rates hikes. Plus people were doing a lot of mortgage fraud otherwise the market wouldn't be stressed right now cause all those people got stress tested for 5.25% or contract rate + 2%, so they should be totally fine with these rates. So we don't actually need rate cuts but instead have those who committed fraud pay for it but instead they want new buyers to take their bag of sins. What a Ponzi scheme it is!!!
Unfortunately absolutely NOTHING can stop this market from crashing..
Sentiment has taken a complete 180..
Everyone with any common sense has taken a wait & see approach..
Prices are going to be like an avalanche, unstoppable declines
keep dreaming 😂
@@sanhtu77
Such a factual and articulate rebuttal...
@@mr.d4295 say garbage, get garbage
@@sanhtu77
History repeatedly says housing continues down for 2 years after the first rate cut.
Covid was the enomoly, not the norm. Not understanding that will cost many people everything.
I feel bad for them.
Corruption in government has been 100% the only reason housing has gone up and stayed up
Everyone here in the comments can keep thinking a crash is happening. Keep waiting… wait another 10 more years please! LOL 😂
The Canadian gov can probably keep playing their games and bidding up prices in perpetuity to the appeal of their voters, but take a look around: the cost of the re pyramid scheme is creating a country in such a downward spiral that no one with options wants to live in Canada anymore. Toronto is borderline unlivable, Vancouver rapidly heading in that direction.
Sellers have taken a wait and see approach. Only those that have to sell are selling. Most have chosen to stay put, delay their sale, or rent it out. Tell me why the prices have not declined 20% over the last year with the highest and the fastest rate changes in the last 20 years or so.
People on my street are not selling because they have to, they are listed at ridiculously high prices testing the market and sitting and sitting and sitting for months unoccupied and they are content to wait it out.
@kater8730 So they are not selling. I meant the ones who are actually selling are the ones who have to. They will drive the price down, of more of those show up, who sell an 800K home for 650K.
Didnt they force government employees to go into office for the same reason? This probably goes alongside the EV mandates and tariffs. Gotta love a government that forces people to make illogical financial decisions then celebrates.
🔥
We need to open up the Greenbelt and build low rise housing for families.
It already crashed. What are some waiting for. Price go back to 2020?
Buyer could effort purchasing in 2022. Common sense!
@@omidrezaeian2932
Buyers only bought in 2020 because of MASSIVE amounts of speculation, FOMO and ultra low rates...
They couldn't actually afford what they bought...
Expect to see prices drop well below 2020 levels..
Elephant in the room that nobody wants to or is not capable of seeing...... RECESSION. All this talk goes out the window, the worst is yet to come for real estate market.
Remember Trudeau said interest rates would stay low, then rates had to increase to stop inflation.
If you have to have a house and it will take 30 years to pay for it,maybe you outa really think.
Great, so now you can rack up your debt even more on higher housing costs. That’s all I get from these changes.
John, it may not crash but home prices can only go up by 1-3% in the next 5 years. Not 5-10%. So it is like slow crash. Anyone buying a house now is because they really need it. The best strategy is to invest your money at safe 3% min and wait for the right house and price over the next 5 years.
there you go...anything to create or should i say generate. i fail to understand how taking a ''real estate '' course qualifies one to predict the future and change otherwise rational people into debt ridden slaves?
These changes put far fewer people over the hump than they want you to think.
Its also the young people who are the first time homebuyers, who are also the first to lose their job in recession.
No job, or fear of no job, means No Sale.
12 months!? Are you high? seasonal up tick at best.
JT , cf are worst pm and worst fm ever!
Real boom time when Justin resign
Field day for fake mortgages
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market.
The stock market is no different, to maintain profit, you need to have some in-depth knowledge on the market.
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 3 years to consistently build my portfolio in preparations for retirement.
@@williamDonaldson432 my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
Her name is Annette Marie Holt. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Real Estate - will said GO BUY HOUSES, GO BORROW MORE LOANS ($5,000,000 Millions Dollars)
Nooooo
Get 1.5 million at 4 percent and pay 6k in monthly mortgage excluding taxes and bills. Haha nice joke