Відео

Man Steve saw the house u sold on Georgia st for 1.6 maaan should told me I would bought it

Rate cuts were announced by Trudeau that liar …. It’s not happening at all folks!!! Wake up as the Liberals have destroyed the economy …. hold on because this is only the beginning …. we are in a serious recession

Great video! Thank you for rational perspective on pricing.

Canada seems to have a govt that actively despises the middle class and their children. As a penetrated cabinet in canada is their goal not for its citizens to own nothing and lock up those not happy about it? Buying large assets in canada requires a certain amount of fingers in the ears and la la la. I feel sorry for immigrants who chose to come to canada with hope and fantasy instead of information and understanding of reality. There is a squeeze play unfolding in canada in its drive to control the people through outrageous laws, pitting people against each other and nanny state control. I am glad we sold up and left in 2021. The treaty issues are really only starting to rear its head and will be yet another source of wealth destruction for people. Canada has a terrible international reputation for a very good reason. Desperate polite people who are only beginning to wake up to the fact they are sheep for shearing.

Best is to wake up and smell the coffee otherwise you'll just sound like someone on crack blabbering..

John you are a good person. This is a conclusion from watching you for several years. 👍

The chart at 49:00 only covers 2015-2017. That was 6.5 years ago! Did the trend continue?

i guess hair like that makes sense if one can speak so casually of extortion

Also, it seems like most agents have seemed to go into hiding on social media which is great

Realtors have no credibility left, what about all the bidding wars that agents started and helped people bury themselves and now you get to resell them like holy

Which they started

As an appraiser/broker my biggest issue with residential realtors is they don’t have a relatively consistent set of principles they follow when valuing property. There’s numerous occasions where I’ll ask how did you come to this conclusion and there’s very little thought put into it. In the end it’s the buyer who gets hurt because they’re the ones stuck footing the bill if there are no conditions remaining in the APS and the property doesn’t appraise. I’m not saying appraisers are perfect but we do follow a set of valuation principles.

All this talk about interest rates and no mention of employment. Central banks don't raise or lower rates in a vacuum. Lower rates don't usually mean "woo, people can afford houses now" or "woo, people can sell houses for more now." Lower rates almost always mean jobs are rapidly disappearing and businesses are going bankrupt. Just because rapid job disappearance didn't mean less money in people's pockets during covid, doesn't mean the gov't will be sending everyone thousands of dollars every month when the next recession hits.

This is perfect! There needs to be pain before any gain. Pricing is high, rental rates are high and construction costs are high…speculators and investors need to know that nothing continuously rises. Rates need to stay high rental rates need to drop and construction costs drop followed by home prices dropping

The debt-to-income ratio in Canada is close to 1:1.8. That’s a buck eighty spent on every dollar earned. The sell off has already begun. With the capital gains tax on top of it, we’re headed into choppy waters. We have one of the most overpriced RE markets on earth. If the recent US court case against realtors is any indication, the situation here is about to change in favour of buyers. It’s about bloody time.

To get a decent house (around 2000 sq ft) you need a household income of around 200k, what portion of canadians make that?

Three of the most dangerous words in Canada “The Government should” …

Why does it matter? You bought a house and so therefore you are going to live in it for many years and being an active member of the local community....... COOORRRECT ?????

Ppl are flocking to Calgary recently but the unemployment rate is higher and higher, 7.7% now. Ppl cannot find a job . I want to see how they are going to do in Calgary , stay or leave with no job opportunities.

When the buyers say "Theres not a lot to look at" what they probably mean is that there isn't a lot of listing that shows up on their Zillow/Redfin searches after they filter for price.

So the permanent immigration target is 500k plus 300k in "Temp residents" EACH YEAR . We only build 200k homes a year as a nation.... I'd still be bullish on housing if I had property. The demand is still through the roof, its just that certain markets like Toronto and Vancouver are unaffordable in terms of price.

Great discussion. Appreciate you guys keeping me informed Regarding policies designed to mitigate price declines: I would prefer less policy involvement in the resale and in the rental market. Let the over-leveraged go belly up and stop trying to force the private sector to provide subsidized housing via rent control. Too many unintended consequences/inefficiencies as a result of policy makers trying to micromanage. Let the market sort shit out as much as possible (obv we need some regulation, but gov’t involvement is way beyond optimal now).

Only speculators need to worry, those in for the long run have really nothing to worry about imo

14:32 is bang on. Everyone is thinking the rate cut will benefit them. Buyers thinking lower monthly payment, but then sellers saying prices to the moon once rates drop. Both can’t be right!!

Do condo townhouses follow the same price and listing trend as condo apartments?

Unusually slow 😂

Greed is addictive.

Dumb money goes to real estate. An unproductive asset with a lot of black swan risks. Most folks who buy investment real estate in the last ten years are all cash flow negative BEFORE rates rose. The smart money is in the equity markets. If you invested $100 in the S&P 500 at the beginning of 1990, you would have about $3,058.10 at the end of 2024, assuming you reinvested all dividends. This is a return on investment of 2,958.10%, or 10.50% per annum. In 1990, the average GTA home would have cost a buyer $255,020. In the first quarter of 2024, home prices in the GTA increased to $1,177,700. A 362% increase. Let me seee hmmmmmm 2958% increase versus 362% increase... ???? And that 2958% increase includes a LOT of ups and downs in the stock market including the crash of 08 and 09 and again the covid crash. Now - add on to your RE investment... tenant risk, risk of damage, vacancy risk... tonnes of black swan events that do NOT haunt people who invest in well diversified markets. By all means buy an investment property but it should NOT occupy more than 10-15% of your well diversified investment portfolio. Educate yourself people... stop listening to the rhetoric of real estate agents and your dinner party guests.

Now with the foreign buyers out and the decrease in international students and permanent residents plus high interest rates, and all negative government interventions, the real estate market is really doomed. Price will further decline month over month. More and more people are leaving the Canadian market permanently and go to nicer, friendlier countries where your money goes a long way....

Well, the tenant didn't know if anyone was telling the truth since there are also bad landlords. These tenants can't be compared to those who don't pay rent and trash houses. it was also fortunate that the buyer really wanted the house or else they would have walked away as well.

She’s a goner

The flipside in this theoretical condo crunch is high unemployment of tradesman will lead to lower wages, lower wages will shrink the building companies' bottom line by quite a bit and could allow them to build and sell homes more cheaply. There's a ton of demand for housing, just not at these sky-high prices.

Pre con has not been profitable for years. Why bother?

$2500 per sq ft. Yikes.

Great show - thank you guys!

Fantastic discussion. Look forward each month to this podcast. Looks like trouble coming to RE market in next few months..years....maybe opportunities?

As a potential move up buyer and condo seller, i am frozen since i need rates to go down to at least breakeven when selling my condo. I think alot of other people are probably in the same scenario.

That chart showing the drop in first time buyers vs explosion of investors is downright depressing.

The reality of condos not appreciating for the foreseeable future will kill the condo market .

There’s a reason we have rate cuts that many don’t understand. Economy might be tanking and higher unemployment. Do rational people normally buy houses when unemployment is high and the economy is bad?

Great show guys!! I hope that every investor isn’t crapping their pants. Let’s face it, in Toronto, a 20% down payment hasn’t worked in the condo market for years. Question that buyers need to answer is, do I have the extra funds to put down more to capture the P+I, condo fees and property taxes with the market rent out there? Is this the best use of MY money? If they need a 30 to 35% or more down payment (which in the big Canadian cities is required) and their plan is to hold the property, we need not have to have a condo bloodbath. The biggest f’n problem, in my opinion, for Ontario anyway, is the LTB. This, to me, will be at the top of the list on why people will want to sell. If the LTB gets fixed, investors will keep investing in all rental properties, including condos. It’s sad that the government is destroying an investment incentive they created and now they’re shitting on it. I hope this tide shifts because I believe that if you keep your property, over time, those owners/investors should do fine. Thanks to all 3 of you for the work you do! Jumping on the Looney Hour right after this!!

Twinkie bet on number of new home starts in 2024 😅😅

I'm watching. 😊 Planning to move shortly and value the information in your discussions.

The big thing is unemployment Not inflation

RE in Canada is a ponzi scheme. Not spending a dime on Canadian RE.

I think there is tremendous downside risk in real estate prices in Canada. If the BoC is cutting rates 6 times, think about why they would be doing that.

Anyone buying presale right now risks having their money tied up in a project that might not break ground for a while, no?

the more you Agents talk about interest rates and try to get people to jump back in, it shows the true nature of who you really are. Agents have inflated the Market and your endless talk talk talk is beyond tiring. Maybe yiu could take time off from the endless banter and comb the hair.....move a comb smartly

Hey Steve, we have had enough of passive income. Get ready to roll up your sleeves for some active income.

People can take a lot of pain when they can't just toss in the keys.