Відео

Great Video Ira. Totally agree.

I moved out of that shirt hole in 1971

The great people of BC, please invest in AB! In city of Grande Prairie for example, there are lots of opportunities for positive cash flow even right now!

As population decline accelerates around the world more and more homes will sit empty or be torn down. Real estate values will be in decline for decades to come. Short term you might be okay but 20 + years out be aware. Almost every country in the world has birth rates below replacement. It will be a tough 50 or so years but the generations that follow will find the earth a better balance. Just saying. ❤

Major market correction is needed. Rates aren't going back to 2% anytime soon. Lots of mortgage renewals still this year.

With the current trajectory, Victoria real estate is going down, down down. What is the reason for people to live there? No reason for young people, and the old ones are dying off. The collapse will hurt places like Victoria more than many other places. Lots of room for development and industry in Nanaimo.

Investing in Authoritarian Communist areas is never a smart idea.

Love your stuff Ira, please keep it up !

cucktoria the most commie city in commuda

100% agree -

Yup. True dat. BC is overtaxed, over regulated, and monopolized. No room for the little guy.

Commercial landlords can treat their tenants like the last of the damned but residential landlords are dealing with voters who vastly outnumber them.

The NDP has changed the real estate landscape here completely, and essentially given the entire playing field to developers on a silver platter instead of individuals. They've basically monopolized RE investment on behalf of the development industry. There is a TON of money to be made in housing in BC but it's all going to the deepest pockets and not individuals anymore.

I appreciate your sincerity. As a landlord I can provide anecdotal information on the risks and pitfalls that await the investor. On the point of affordability this is across the province. Perhaps it comes down to many things aging society,high inflation on properties and lower real incomes. Very stressed situation coupled with US destabilization etc.

Hey Ira, I am curious about what you said regarding how investors are part of the housing solution and a healthy economy. It goes againt what I've been led to believe, namely that the commodification of housing is a very big part of the affordability challenges new buyers face. I would be curious to hear more about your perspective, or read more on this, if you have any recommendations. Thanks! Always appreciate your videos :)

I've been watching your contents for a few years now and I really appreciate you offering us the perspective from a realtor! Lots of realtors will blatantly lie to protect their vested interests, but your videos are always well organized with figures and thoughts. Good luck to your future investments!

Oh Boo Hoo. I guess we who rent our sick and tired of the heyday of people with excess capital being able to make a profit off housing, which is actually a human right. Do I sound like a socialist? No! actually I'm a communist and believe we all have a right to housing and that the free market and Capital is all stolen labor.

Why don’t you put a bigger down payment then so it’s not cash flow negative lower mortgage payment ?

Single Family still makes sense. Definitely not multifamily.

Incompetent and corrupt politicians make it too risky right now. They cant manage budgets properly; so their only solutions are increased taxes and regulation.

The honesty is highly appreciated and very refreshing!!

So local governments are going to be responsible for forcing money out of country. Because I bet you're going to buying the s&p instead of a condo. Interesting how this has played out. Federal government prints into oblivion. Causes local inflation. Local governments respond with regulation. End result is the investors who still have money to invest will likely be sending that money out of country. Maybe putting a drag on the local economy. Less buyers. Less construction. Less jobs. Imagine if prices go up.

this is such a niche video thanks for making this

I lived in Oak Bay for three years. So what?

I live in one of the worst strata properties in Victoria. Property management companies flee from us after a year or so. It is old and was neglected for decades. Now we have old infrastructure, outdated heating and plumbing. I bought years ago so my mortgage is low. I was also advised when I bought it by a realtor to NOT spend any money on aesthetic updates....just keep it clean and dry. That I have done.

Ira - i live in Panorama area of Surrey & just got my assessment: it has dropped ridiculously from $1.62mil las year to 1.314. I refinanced the mortgage in October with RBC & house value was 1.75 & that made sense. I have to file an appeal but I dont trust the bcassessment website to be offering true property values.

Sod it. Live in a tent/car

Older "condos" in Victoria are three level wood buildings near the end of their useful life.- However, the secret value is there's no reason WHY these sites can't go to five or even six stories basedon the SAME foundation, if built correctly to begin with. Many you'd not even have to do anything but a digital upgrade to the boilers, and upgrade the elevator. Hidden treasure time. Sweden and Finland are building TEN STORY wooden buildngs. No reason why you cant', and great for earhtquakes: think Japan.

You're an incredibily helpful voice. Wondering if you could turn your microphone to face you? The sound would be superior.

A detached home under 1 million is hard to find...didn't expect it to get better but didn't think we'd see supply so low.

Greed has taken over as new detached houses are literally just 2000sq land size and posted for 1 mill.

Good point about Costco. I stopped going there because it's just too busy and not worth the hassle. I'd rather order from Save-on and pickup. Also great point about busy streets. Quadra for example is being up-zoned on each side of the street. Excellent holding property. Victoria will look like Oak St. in Vancouver with condos and townhouses along the corridors.

Look at the core SFHs under a million, there's like 12 right now. When will there be none?

Vancouver Island RE is in big trouble give your head a shake

I hope the city fixes the horrible spider infestations!!!

Get a real job. Stop being a leech on society.

More FOMO from Ira again this year. Prices are going no where again this year, very poor ecomomy with unemployment continuing to increase, reduced immigration, gov't hiring freeze provincially and possible layoffs and federal government chopping jobs when in power, flat to increasing bond rates, rapidly increasing property tax rates etc..

No prognostications about the Townhome market? Didn’t even get a mention this video. You’d think a dearth of single family homes under a million would be favourable to townhouse sales in the Core, no?

do you think victoria will be hit with headwinds of back to office and no more work from home and less immigration?

In the new home section I want to add some additional information. Pierre Poilievre said he will remove the 5% GST on new homes and build more of them, which is a good news for people that want to live in new developments.

What are your thoughts on leaseholds?

currently looking...using all of the aforementioned platforms :)

Oh no! People don't want to pay 800k for a box in the sky. What's the world come to

These old buildings are not up to current standards and need too many expensive upgrades.

We have more people than available houses, if no one wants to allow higher density, then you need to reduce the population.

If you are not able to do 90% of the work yourself or have enough money to pay for all repair without financing, don't buy an old house but most importantly don't buy a house in BC

This sucks

Victoria summed up: we desperately need housing and density just not in my neighborhood

Hey I've got some relevancy here. I'm in langford on goldstream and had accepted offers on our 35,000sq ft land assembly from 2 different developers back in 2022 (Wexford and ironclad) at around $165/ft. Both offers fell through in the conditional period and we walked away with nothing. Dissapointing as it was a significant jump from what our normal market value would have been. Did we miss the boat? Or maybe they just over bid and realized their mistake. I find this whole process fascinating.

Moved here for the kids in the 90's. They left here when they were old enough. The ONLY advantage living here is a decent climate for Canada but not worth the effort. With the number of humans moving here thinking paradise to which is a VERY confined area, it will become a cement coffin packed with humans in no time, unfortunately and the only nature you will find here is cockroaches and silverfish when all the building contractors are done. Money and greed. We came from a great city in the east to a nice quaint town. But the quaint town is no longer. The infrastructure should be overwhelmed in the near future at this rate. The lineups, traffics jams, souring costs of living and absolute frustration will be the final say. Add to the list; the health system is considered the WORST in Canada. Doctors don't even want to live here. Nice place to visit, a ridiculous and inhospitable place to live.