Відео

I'm glad

Goldman Sachs and Ballast are set to surrender 82 apartment buildings (~1,200 units) in San Francisco to lender Royal Bank of Canada. They recently defaulted on loans totaling $687.5M lol Lots of roaches in the motel that need cleaning out. Bank balance sheets will be interesting to analyze over the coming year or two esp as running to Ottw. for repos !

Fixed rates already went down quite a bit, they're not waiting for BofC. You can get a mtg for close to 4.5%. But at this rate, adding the stress test is the real drag. And no, we haven't been through a crash - in the USA prices halved during the GFC. In Toronto, 10-20% up or down is almost normal fluctuation since 2017 when the governments started to get heavily involved in the market.

Sales to new listings, Toronto. 3 bdrmd detached - sales up 25% new listings down 25%, so that is a pretty strong trend. Prices flat y/y. I only look at 3 bdrms, because the volume is higher and they are quite standard, so the stats are more meaningful. Selling one of these to go into the overpriced small city/rural area will prove t be a bad move.

BoC cutting in July 24th!? Two more expected cuts this year, as per experts. Relaunching the real estate market? 100% true. Going back to before 2022 real estate market in Ontario? I don't think so. We need 3.25% and a little bit lower prices, to our numbers should start working for our Ontario investors. #CristianEnache #Realtor #Ontario

Buyer's are not confident in carrying huge mtgs now that's why we are where we are. Buyer's don't want to buy high and sell low.

Thanks Cam, great suggestions…I’m dreading that day when we have to go through all my wife’s baking stuff. It takes up half the basement. 😂

And all these failed condos are backed by the fake equity in the residential housing market across the gta.....

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Can 1 million buy a downtown 2 bedroom condo yet?

- Interest rates will not decline rapidly enough provide relief before 2025-2026 when a majority of mortgages are going to be renewed. - Inventory is increasing and sales are declining - Pre-sale condos that are completing are dramatically overvalued leaving assignees vulnerable. - Variable rate fixed payment terms are extending some mortgages in excess of 50 years most likely bankrupting people when the are compelled to renew or sell and are required to do so under current market conditions with their homes worth less than they owe. - Unemployment is at 6.4% and economists are predicting it could go all the way to 8%. - Canadians are at all time highs in terms of utilizing credit and exhausting home equity. - Core inflation, otherwise known as real inflation is still high despite core inflation decelerating… that’s why Canadians aren’t feeling any cost of living relief when the Feds are saying inflation is easing. - Mortgage fraud during the boom is surfacing now that the market is decelerating and people can’t rely on upward growth trajectory as their thesis. And on, and on, and in… that’s why people that rely on real estate for their livelihood are reckless when they give advice like you’ve given. The rationale that if you’re in it for the long term then you’ll be fine and buying now or anytime soon is a good idea is fatally flawed thesis given current economic indicators.

This is an extremely unsophisticated and irresponsible analysis that will jeopardize people’s financial wellbeing. You must have a personal interest in seeing people invest in the housing market right now; otherwise, your advice wouldn’t be this reckless.

Now compare it in real terms to inflation. It's 100% a crash Wait until rates go up for most people, and they start dumping their houses onto the market because they can't make the $1,000 - $3,000 EXTRA per month additional payments

Detached homes that have been properly updated with upgrades are still worth high market prices. Mine is overall 70's looking and requires a complete main floor upgrades. If I sell I already know that I will be lowballed. Solid upgraded roof and foundations, I will wait it out.

Here's why condo prices aren't down more. Because the data only shows Sold. Home buyers are buying, not investors. So the cheaper investor-driven units aren't being included in the data whereas end-user buyers of condos are paying somewhat higher prices (vs investor units) for a place they can actually live and breath in :)

The muppet boiler room condo flipping market is dead 😂

Another 40% price reduction from here is inevitable in the GTA.

Toronto Vancouver house prices ll go down % 85 imminent

wen recession

A lot of interesting information - thanks for sharing.

Prices have not dropped yet.

Unless you have to sell, people will only list their homes if prices are going up. So for the rest of this year, I believe we’re going to see some very low sales volume. Thanks for the info. It’s appreciated.

The pendulum always swings. Prepare for reversion to the mean.

Wait a second I thought the government said we have a huge supply shortage? How is that possible to have record listings but the government saying we need 3 million new homes? What could be going on here. So what you’re saying is that we have building supply but apparently a supply shortage. I ain’t getting it.

Intriguing insights! Understanding the pulse of the Canadian real estate market for 2024 is crucial

Bubble crash 😂

It's over. People are loaded to the eyeballs with debt they can't service.

You need to really define buyers , do you mean real buyers who want it for family or speculative debt slaves who do it as business?

Good review, thank you

What platforms can I use for MTr , thanks in advance

I actually did this once with a corporate entity for 3 years. I didn’t have to furnish it at all. They painted and furnished my condo like a hotel room. They put it back to original when they stopped renting. It was completely hands off but I’m not sure how this avoids the new rules. It is a great idea!!

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Hi mate Nick here, I live in Hamilton , interested to chat if you like .

Hi, for that first Gage Park prop, why is purchase price 119% of list price? Is the market that hot that you wont get it otherwise?

Would like to hear about possible deals in Costa Rica

Hi Guys! Thanks.

September 2023 5-yr bonds are expected to be at their lowest point prior to climbing again. Source: World GOV Bonds

Record low mortgage delinquencies- As jobs leave and govt programs kick in the transfer of wealth takes place. Everything is in the rear view mirror, we need to wait for data to catch up. As more employers continue to layoff employees, mortgage delinquencies will increase. The economy moves like a tanker, not a speed boat.

HI Guys, Thanks for the show.

I like the options that allow home buyers to house ‘hack’ by using income from their rental units to help them qualify for mortgages. It is becoming more and more acceptable / necessary for buyers to look at having rental suites as part of their primary home.

To get our Weekly Hot Investment Property Alert go to www.mccarrollgroup.com/investor-resources

When I was moving to hamilton east from ssauga back in 2019 my RE lawyer doing the closing said why am I moving to hamilton when I can afford a semi-detached/town in ssauga or Brampton, he said there’s so much crime there. Others also said hamilton is a crackhead town. It’s image has improved a bit over time but still is referred to as the armpit of Ontario lol I moved from east hamilton(rosedale) to west mountain recently and I like it better here, but my forever home would be in Burlington or Oakville for sure.

Great points I agree 100% it will not get any better. Due to the things you mentioned and also the lack of skilled labour. In Southern ontario if people want to get and if they can they should because in 10 years it will be almost untouchable. It will become a mostly renters environment. I maybe wrong but we are at a turning point. A point where other major areas cities have gone. Whether people believe it or not. There was a reason why Vancouver and southern ontario boomed during low rates and not the other cities in Canada to the same extent. People wanted to get in and so the opportunity the sale so to speak. Once people realize that rate are not going to a crazy 80s 20 % or even 10% which was the fear earlier. They se rates stabalizing and will adjust. Anyway my 2 cents good luck all.

I have an excellently paid job and unless i like, invest my downpayment in the stockmarket for 10 years and compound it, or get a job that pays 20% more, i’ll have to start in a condo far away from My job in downtown montreal. So yea. Theres a supply crisis

Great job as always guys. Hoping you continue to cover more on properties selling with Laneway and Garden suites in Hamilton. Helping a current client with financing and construction of a Garden home build soon in Hamilton and look forward to watching your team covering this space in more detail as more comparables enter the market. Wishing you all a great weekend!

Great information and very interesting opportunities. Thanks to the whole team for sharing. Love the format Keep the episodes coming and please keep uploading the recordings afterwards (I can't usually attend the live broadcast).

Looking to buy or sell real estate? Let's chat! Book a call with the team to discuss your goals and how we can help you reach them here: calendly.com/mccarroll-team/30min

Hey Cam, do you feel price for 2 storey houses (2000 to 2500 sq ft) will decline more after the next rate hikes in hamilton ? I see a lot of them got price reductions and are in the 900 to 999 range as of now. What’s your take in that price range given that more rate hikes will pressurize that segment more I feel

Appraisals are also a major factor in home prices. Sellers, knowing their home will not appraise at their desired amount - even if it’s at a lower price than it would have been in early 2022 - will opt not to sell. For buyers, knowing that prices may continue to soften, will typically not pay more out of pocket to make up the difference between asking prices and appraisal valuations. There are exceptions to this super brief explanation but, I believe lower appraisal amounts explain the cancellations of over 50% of listings in the Toronto area.