LiveInnerCity - Calgary Real Estate
LiveInnerCity - Calgary Real Estate
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Why These Mortgage Changes Will Reshape Real Estate in 2025
The Canada housing market is on the brink of significant transformation as new mortgage and down-payment rules take effect in December 2024. These changes could redefine homeownership and real estate investing across the country, especially in competitive markets like Calgary real estate. If you’ve been waiting to buy your first home, upgrade your property, or expand your investment portfolio, these updates could be the opportunity you’ve been waiting for-but they might also bring unexpected challenges.
In this video, we’ll explain the government’s decision to raise the insured mortgage price cap to $1.5 million, allowing buyers to afford higher-value homes with significantly smaller down payments. We’ll dive into how this shift improves affordability for Canadians, particularly in urban centers, and what it means for first-time home buyers looking to enter the Calgary housing market. You’ll also learn about the introduction of 30-year amortizations, how they’ll reduce monthly payments, and why these changes could spark heightened demand in both the Canada real estate market and the Alberta housing market.
But what does this mean for mortgage rates and the overall cost of borrowing? We’ll explore how the updates align with current Canadian interest rates, how buyers can prepare for higher loan amounts, and whether this could lead to greater financial risks in the future. For sellers, these new rules could increase buyer interest and competition, especially in markets with homes that include rental potential, like legal basement suites.
We’ll also provide insights into the Calgary real estate market update and the broader implications for mortgage renewal, mortgage rates Canada 2024, and new mortgage rules and payments. With the potential to reshape the Canada real estate market, these changes bring both opportunities and risks for buyers, sellers, and investors alike. Stay tuned as we break it all down and help you navigate the path forward in this evolving market.
This is LiveInnerCity Real Estate team’s take on why these mortgage changes will reshape real estate in 2025.
Chapters:
00:00 - Introduction to New Mortgage Rules
00:43 - Higher Price Cap for Insured Mortgages
02:32 - Down Payment Structure Explained
03:22 - Expanding 30-Year Amortizations
03:49 - Who Qualifies for 30-Year Amortizations?
04:29 - Why These Changes Matter
04:51 - Key Takeaways for Buyers
05:55 - How does Mortgage Changes Affect the Housing Market
06:54 - Advice for Sellers
07:33 - Off Market Properties
08:12 - Pro Tip: Leveraging Secondary Suites
09:10 - Our Final Thoughts and Advice
_____________________________
RESOURCES & LINKS MENTIONED IN THIS VIDEO
Are you a Real Estate Agent and you’re struggling or can’t seem to hit the next level for your business? We can help - even if you are in other parts of Canada or the US! Learn how you can team up with us at REAL Broker so you too can have a thriving business! calendly.com/felixchan/partne...
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contact.liveinnercity.com/mes...
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____________________________
Felix Chan & Jasben Lai are Calgary Realtors with the LiveInnerCity Real Estate Team in Alberta, Canada. Felix is also a Calgary Mortgage Broker and Real Estate Investor.
As your Calgary Real Estate Agents of choice, we are your one-stop-shop for all your Calgary Real Estate needs. We provide our best tips and tricks for home buyers, sellers, and investors looking in the Calgary Real Estate Market. We also dive into Calgary Communities and Home & Condo Tours.
If you want us to cover a specific real estate or mortgage topic or just have a question, please type it in the video comments below.
❤️ Enjoying our videos? Please L I K E and S U B S C R I B E ❤️
____________________________
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Переглядів: 266

Відео

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КОМЕНТАРІ

  • @samchan9616
    @samchan9616 19 годин тому

    Thx for sharing

  • @ShirleenChastity
    @ShirleenChastity День тому

    Thank you so much for this amazing video! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?

  • @Foshoo1
    @Foshoo1 3 дні тому

    I live in a detached home and already have a legal secondary unit in my basement. I’m wondering if I can build another unit in my backyard. My garage, which is also in the backyard, is detached and doesn’t seem to have the same foundation as the house-it’s just on a pad, as garages typically don’t require deep foundations. I’m curious how you handled that issue.

  • @gelocurated
    @gelocurated 4 дні тому

    Fee's looking good here!

  • @hakimbey6270
    @hakimbey6270 6 днів тому

    Good job,

  • @LiveInnerCity
    @LiveInnerCity 7 днів тому

    What do you think about the new federal mortgage rules?

  • @Mac_Dawson
    @Mac_Dawson 10 днів тому

    Edmonton 118 Ave personality 😂

  • @khanyasser
    @khanyasser 12 днів тому

    Excellent video!!

    • @LiveInnerCity
      @LiveInnerCity 11 днів тому

      @@khanyasser Glad it helps! Thanks bud!

  • @khanyasser
    @khanyasser 12 днів тому

    I’m planning on buying a condo in the coming weeks in Toronto

    • @LiveInnerCity
      @LiveInnerCity 11 днів тому

      @@khanyasser awesome! you can dm me on IG: felixchan.me if you need some help!

  • @FrankHuynh
    @FrankHuynh 18 днів тому

    this guy knows his stuff!

  • @minakopolat2100
    @minakopolat2100 19 днів тому

    Do you have any plan to organize the workshop one more time…?

    • @LiveInnerCity
      @LiveInnerCity 17 днів тому

      Hi @minakopolat2100 of course we have!! subscribe to our email list at hello@liveinnercity.com for weekly updates! you can also follow us on our IG: liveinnercity for daily updates :)

  • @LiveInnerCity
    @LiveInnerCity 19 днів тому

    Happy Holidays everyone, this is our last market update for 2024. Thank you all for watching and see you again next year. In the meantime, what are your plans coming into 2025? Please let us know below! :) We'd love to hear em'

  • @stephenfermoyle4578
    @stephenfermoyle4578 21 день тому

    is that not your job?

    • @LiveInnerCity
      @LiveInnerCity 17 днів тому

      Hi Stephen! I am sharing my knowledge with everyone who needs to hear it :)

  • @Bittersweet721
    @Bittersweet721 24 дні тому

    Oopss 2more years

  • @billyjeung5239
    @billyjeung5239 25 днів тому

    Less fees maybe escrow i dont see using blockchain technology can afford taxes and inspection fees.

  • @AnaCastillo-jf7jc
    @AnaCastillo-jf7jc 26 днів тому

    Yes

  • @stephenfermoyle4578
    @stephenfermoyle4578 28 днів тому

    yet a ''GOOD CONDO'' in Bridgeland just sold in 2 days. a lot of the Condos are old...and the construction not great. if there is a ''good product'' it will move. Stats have nothing to do with quality.

  • @nathankomosa8928
    @nathankomosa8928 Місяць тому

    Hoo cuz

  • @russell-s6t
    @russell-s6t Місяць тому

    Thanks for the forecast! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

  • @FrankHuynh
    @FrankHuynh Місяць тому

    yo this guy knows his stuff!

  • @jayd6098
    @jayd6098 Місяць тому

    Don't buy right now as you will be catching falling knife. The economy is going to shit and with immigration in check the market is going to experience huge correction by next year. If you can stay put as buyer, hold, if you are a seller, list it ASAP and cash out as much as you can.

  • @LiveInnerCity
    @LiveInnerCity Місяць тому

    What’s the biggest factor you think influences real estate prices in Calgary?

    • @mrlukenukem88
      @mrlukenukem88 Місяць тому

      Too much demand, immigrants. Over 90 percent of population growth in Canada has been immigration, so it turn it may be an artificial demand. Also by looking at bonds there’s data showing inflation is still there. BOC is painting themselves in a corner where high interest rates are breaking the economy but we also have inflation. They should raise rates to 6-10 percent for a 2-3 years and then slowly bring down or face a depression. Either way we will see how they kick the can down the road

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      @@mrlukenukem88 @mrlukenukem88, thanks for sharing your perspective! You’re absolutely right-demand plays a massive role, and immigration does fuel a big part of that. As for the BOC’s tightrope walk with interest rates, I feel like they're trying to bake a cake without a recipe-turn up the heat too much, and the whole thing might collapse. One thing’s for sure, whether it’s rates, inflation, or demand, housing markets are a reflection of the times we live in. The real question I have is: are we adapting to these changes, or just hoping for yesterday’s market to come back? 🤔

  • @LisaSmith-i9c
    @LisaSmith-i9c Місяць тому

    There are a few townhomes in our complex that were listed in September and October for what they were selling at in June (one was listed in June and relisted after adding new flooring and appliances) and all have had to lower asking price by $10,000-$20000 and are still sitting. One listed for $20,000 less than what they were selling for in the summer and it sold right away the rest are still sitting . I am curious to see what happens as our landlord is selling this spring and we are looking. I really would like to wait another year to really see what happens with prices but don’t want to move to a rental only to move again especially when rental are still hard to come by. It could go either way either further rate cuts and the 30 year amortization brings in a surge of buyers or everyone is unemployed and prices dip….I could see it going either way in the next two years…

  • @hakimbey6270
    @hakimbey6270 Місяць тому

    Yes

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Thanks for supporting us hakimbey!!

  • @kevinchhom9739
    @kevinchhom9739 Місяць тому

    Oh yeah!

  • @UnacceptableFringe
    @UnacceptableFringe Місяць тому

    My wife and I put our home in Somerset on the market just before September Long weekend this year. We have had almost 50 viewings with only 1 offer where the buyers were scared off by the inspector because our home was built in the 90s and has Poly B Plumbing. Since relisting, we spent a lot of time chasing the prices down as more inventory became available. Now we are below market value to either push offers (was the original plan) or just get a reasonable offer so we can move to our new home which is waiting on condition to sell our existing home. We are worried we are going to miss our opportunity and need to pull our home off the market. We are sometimes getting 5 showings a day but NO OFFERS. People are tire kicking and saying they "like the home and will get back to us" or that it was "too small" or had a retaining wall in the backyard and was on a slope like they did not bother to read the square footage or even look at the home photos and nothing comes of it. We even have a copy of the inspection from the previous buyers and no major issues and the house is in good condition. My question is why are we not seeing offers and how do we get one quickly? Again we are already priced about 15k below market value and cannot afford to go any lower but shouldn't have to. How do I speed up the process so we aren't spending our evenings and weekends in our car around the block with our animals while people move along?

  • @LindaR-xh5hf
    @LindaR-xh5hf Місяць тому

    Solution: Buy and Hold.

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      I don't know anyone that has NOT benefited from this strategy! As long as they hold for a reasonable amount of time to see through the economic cycles 👌

  • @mohaargurpreet
    @mohaargurpreet Місяць тому

    Build

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Hi! You can sign up here: contact.liveinnercity.com/offmarketproperties or directly reach out to us on Instagram: @liveinnercity

  • @MattDick-e1k
    @MattDick-e1k Місяць тому

    US dollar is stronger. US stock market has more chances. Let's make Calgary house market a complete sellers's market, a only sellers left market. Invest your hard earned money and time on better opportunities.

  • @rachelk8368
    @rachelk8368 Місяць тому

    Unemployment is high in Alberta, federal government is stopping mass immigration and ON /BC buyers and renters can now go back to more afforable markets. I think Alberta and specifically Calgary is going to be walloped over the next 2-3 years with a slow and steady decline as more and more supply comes online- there are so many units coming online in the next 18 months. I think we will easily see a 10% correction in Edmonton and 15-25% in Calgary

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      @nsevv Thanks for commenting! I'm always curious about what my viewers are thinking - we have gone up a ton since 2020, is it because of prices that has got you thinking it is a bubble? Anything else?

    • @BradPavlovski
      @BradPavlovski Місяць тому

      lol keep dreaming

  • @krubel682
    @krubel682 Місяць тому

    Suite

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Hey bud! You can contact us here: contact.liveinnercity.com/message or directly reach out to us on Instagram: @liveinnercity

  • @IbarLongoria
    @IbarLongoria Місяць тому

    Thanks for sharing such valuable information! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

  • @AseoLimpieza
    @AseoLimpieza Місяць тому

    Don't work for money; make money work for you. Invest wisely today to create the freedom you desire tomorrow.

    • @semendx
      @semendx Місяць тому

      Many new tra-ders face challenges without proper guidance. I found success by learning from James Clark's expertise.

    • @happyferet69
      @happyferet69 Місяць тому

      ​@@semendxexactly that's why I always seek Mr J Clark's guidance in all I do 😊

    • @TammyLapalme
      @TammyLapalme Місяць тому

      I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?

    • @seanhibbeler
      @seanhibbeler Місяць тому

      Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.

    • @gmachlin
      @gmachlin Місяць тому

      From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

  • @derekwdna
    @derekwdna Місяць тому

    Nov sales WILL be higher than Oct. Watch the stats next month. The window to get in is before EOY 2024, by spring 2025 will be at least 10% higher than today. Assuming rates continue to cut.

    • @MikoSil-h7o
      @MikoSil-h7o Місяць тому

      damn you are in for a rude awakening with your investment property LOL

    • @derekwdna
      @derekwdna Місяць тому

      @@MikoSil-h7orude awakening? Whoahaha…😂 how much rude awakening are you expecting before jumping in from the sideline are you suggesting from the data mr economist?

    • @rachelk8368
      @rachelk8368 Місяць тому

      @@MikoSil-h7o I agree. I know so many people leaving Calgary- moving to the States or back to ON/BC to be with their family. We have high rental vacancy too

    • @MikoSil-h7o
      @MikoSil-h7o Місяць тому

      @@derekwdna LOL how much you wanna bet you were the "There's no supply, and there's so much demand" type of person. If you did enough research you'd understand Calgary had so many boom and bust cycles, that you wouldn't make a lousy prediction of " by spring 2025 will be at least 10% higher than today". You need to look at real estate in a macro environment perspective, and all macro signs are it will be lower next year then this year. Your population increase debate is no longer valid, your supply debate is no longer valid, and when oil prices drop, then good luck Calgary real estate. You need jobs here to sustain this imaginary 10% growth you have.

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Thanks everyone for sharing your perspectives! It’s clear there are different views on where Calgary’s real estate market is headed. It’ll be interesting to see how factors like interest rates and population changes influence things in the coming months. Appreciate the thoughtful discussion! This does inspire me to make a video on Calgary's historical down turns ... how bad are they and what do the numbers actually show?! Anyone else curious about that as a video topic???

  • @didafm
    @didafm Місяць тому

    Well Bc Ontario have had 20-25% corrections. So you better believe Calgary will have a 10%~ correction as well

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      In a downturn market it's possible to get a 10% correction. The interesting thing is in the last half of 2023, detached home prices were between $690,000 and $700,000; and that WAS the correction - it just stayed flat. Right now they are sitting in the $750's so if a 10% correction were to happen, property values for detached homes would go down to about $675,000. I think a big difference is between July 2022 and July 2023, about 16,100 people left Toronto and 26,700 came to Calgary - check out the graph "Population growth due to interprovincial migration" in this article here: www.cbc.ca/news/canada/calgary/calgary-edmonton-cmas-july-2023-population-estimates-2024-data-release-1.7210191

  • @darrekwatch4662
    @darrekwatch4662 Місяць тому

    Isn't Calgary historically a boom and Bust market? What is the catalyst in the new year to drive prices back up? Maybe I am missing it, but I just don't see it. I think 25 turns out to be a buyers market.

    • @Rozbiynuk
      @Rozbiynuk Місяць тому

      It is, and was/is highly correlated with energy production and prices. I would say this time we have added migration and price arbitrage from Ontario/B.C folks, but fundamentally I still think it is boom and bust market. Agree with you that soon it can tilt to buyers market again

    • @didafm
      @didafm Місяць тому

      ​@@Rozbiynukpeople are not coming from BC and Ontario as much. Not even close. BC and Ontario markets have had 20-25% corrections

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      All markets are a boom and bust. Calgary was a little more volatile, because 25% of Alberta's GDP comes from oil and gas. This last boom wasn't because of that though, it was from migration. But just like you guys, I'm also wondering if and when a correction will come

  • @jinyang8620
    @jinyang8620 Місяць тому

    Build

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Hi! You can sign up here: contact.liveinnercity.com/offmarketproperties or directly reach out to us on Instagram: @liveinnercity

  • @stephenn88
    @stephenn88 Місяць тому

    Why sales and price are up in November? November is a slow month

    • @MikoSil-h7o
      @MikoSil-h7o Місяць тому

      dont worry I answered that for you in your other comment video. This is not vancouver real estate my chinese buddy, calgary has boom and bust cycles, look into it.

    • @stephenn88
      @stephenn88 Місяць тому

      @ you are still live in the 80s. Currently single family houses are selling for 800k. Are you still renting?🤏

    • @stephenn88
      @stephenn88 Місяць тому

      @ you are a good example of someone have been sitting on the sideline for 20years and just talk talk talk. A

  • @SC-4rqub
    @SC-4rqub Місяць тому

    Hello, I want to start investing, but I'm unsure where to start. Do you have any advice or contacts for assistance?

    • @ann-ie4hc
      @ann-ie4hc Місяць тому

      You need a pro or very good Trader. Someone like Melanie Ann Karnavas

    • @Additional329
      @Additional329 Місяць тому

      I'm surprised that you just mentioned and recommended Melanie Ann, I met her at a conference in 2018 and we have been working together ever since.

    • @OwenMaureen
      @OwenMaureen Місяць тому

      I know Melanie Ann Karnavas. as a popular crypto experts' people talk about, her transparency in the crypto community speaks for her, I attended her seminar in Brisbane last year.

    • @dagame614
      @dagame614 Місяць тому

      This is correct, Melanie strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started.

    • @SC-4rqub
      @SC-4rqub Місяць тому

      Please educate me. I've come across this name before. Now I am interested. How can I reach her?

  • @krubel682
    @krubel682 Місяць тому

    I am here waiting for the crush to happen so i can buy 500k house with double garage in good😂 communities

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Same here bud! haha reach out to us when you're ready!

    • @BradPavlovski
      @BradPavlovski Місяць тому

      keep dreaming

  • @LiveInnerCity
    @LiveInnerCity Місяць тому

    Do you believe Calgary’s real estate market will become more favorable for buyers or sellers in 2025? Share your predictions!

  • @nsevv
    @nsevv Місяць тому

    bubble has pop.

  • @myudim477
    @myudim477 Місяць тому

    Build

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Hi! You can sign up here: contact.liveinnercity.com/offmarketproperties or directly reach out to us on Instagram: @liveinnercity

  • @mnp8211
    @mnp8211 Місяць тому

    Build

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Hi! You can sign up here: contact.liveinnercity.com/offmarketproperties or directly reach out to us on Instagram: @liveinnercity

  • @lightseeker134
    @lightseeker134 Місяць тому

    buy and build and buy and hold. Thanks, Felix!

  • @amrikshergill1621
    @amrikshergill1621 Місяць тому

    Build

    • @LiveInnerCity
      @LiveInnerCity Місяць тому

      Hi! You can sign up here: contact.liveinnercity.com/offmarketproperties or directly reach out to us on Instagram: @liveinnercity

  • @nathanielkahn9681
    @nathanielkahn9681 2 місяці тому

    Very objective and informative video!

  • @Ares-d1q
    @Ares-d1q 2 місяці тому

    Personally I like Edmonton better then Calgary

  • @jasondieser8939
    @jasondieser8939 2 місяці тому

    Edmonton is just a disgusting gross ugly city. Nobody i talk too thinks Edmonton is a nice place.