Відео

If you look down the rabbit hole you will see the fraud your involved with and your paying for something that is already payed on the credit app wakie wakie folks legal vs lawful lmao

Why doesn't Freeland talk about 300 bankruptcies per day or Canadians going to food banks.

I don't see any local Chinese filing for bankruptcy and they're the base of the housing pyramid in the Golden Horseshoe. When rates drop they'll just buy up everything and home prices will double again in like 2 to 3 years. Rents will more than double even if renters can't pay it. The minimum wage will have to be raised to $50 an hour so renters don't starve to death. Just the rich and the poor will be left.

I love your videos and honesty. Keep up the good work.

Thx for this and kudos to having Doug Hoyes on your podcast. I'm also a big sportscar fan - I know the first tracks from the left (Nürburgring, CTMP) but can't figure out the last one on the right!

People learning the cost of massive government overspending and the inevitable increased debt loads being taken on. Nothing is free. INFLATION is the silent tax and people should think about that when they want more and more government programs and spending. Ironically, socialism hurts the very people it professes to help the most.

I don't think bankruptcies will take down real estate, at least not in Vancouver where most homes are mortgage free, but certainly when the Liberals announce a Primary residence gains tax in their budget early 2025, the percieved value of real estate here will decrease especially in urban areas.

The one elephant in the room is wages and the high cost of housing. The spread between the two is way too high. Assuming we get back into a normal market with historically average interest rates people will not be able to get a mortgage based on their wages. I’m sure many of the homes selling in the higher range of the market are between people that have a large equity position with a mortgage amount they can afford with the wages they earn. Until the ratio between wages and home prices gets closer together the real estate market will remain volatile.

Done.. put a fork in Toronto..

Awesome info

Sadly, if my credit card got turned off, I wouldn't be able to feed my family. I waited until the last minute to take on credit debt, but I simply can't make enough money to keep up. Great show! Cheers!

Is this a generational thing that you say everyone uses credit cards? I’m on the younger end of the millennial generation and I find millennials and gen z are much more likely to use debit cards. I personally prefer cash for the visual cue of “spending money” or credit cards for points and “cash-back” but most people I know prefer debit cards.

In 1986 I bought a house for 80k and I bought a new truck for 20k. My gross income was 40k a year. Now the same house is selling for about 400k and the equal truck is selling for around 100k. So both have increased 5 times yet my gross income is not 5 times. I should be making 200k. But I am not any where near that.

not sure if relates, but they negative amoritizations are rolling off the books in next 2 yrs, those people will not be able to make up the new payments. yes pre cons are finished, as are "ma and pa" investors who used HELOCs for Downpayment on condos in Canada. However, a lot of immigrants in debt are simply leaving the country. Had 6 last week alone

+1 on the allergy to depreciation 😂

The 110,000 migrants that arrive every month will certainly help offset the 9000 (300 * 30) joining the lines at the food bank. Don't forget to pay your taxes, Ukraine needs it !

Yup. All part of a plan to help bring about the "you will own nothing and be happy" BS

😂😂😂

My cousin couldnt afford payment so she applied with government to house autistic people which is tax free money

Great video! and nice wrap up with that final question, well done.

zionsits want us to drown in debt and be their slaves

Great final question.

It's called a credit card because the lender always has control. Everything is from their point of view. Why is it called "interest"? It's in the "interest" of the lender.

The most important thing to remember is that money isn't actually real. Over 90% of all money in the world is digital. As in doesn't exist in reality. As in just figures typed in a computer. And those credit card limits are not actually supported by ANYTHING other than ones and zeros on servers. So don't take it too seriously. It's ok to go bankrupt. In fact, you don't even have to go bankrupt to reduce or get rid of debt. Just do a consumer proposal and pay pennies on the dollar. Educate yourself on the tools available to you to get rid of enormous amounts of debt. That debt, just like that money borrowed, is not actually real. Take it easy!

“Can I get enough lumber together to build a house” …the times when people were truly free. Building a house is not complicated until the government made it complicated

Love this guy

Whoa, someone's getting views

Low wages, high taxes and low productivity. Zero incentive to stay in Canada.

I am annoyed that you cannot pay cash that I saved for awhile to buy a car anymore, A scam.

How I’m 40 year amortization! Should I file for bankruptcy?? 😂

Debt card. Good point.

Good video showing how most people don’t do the math to see what things actually cost. I’m still driving my 2003 Elantra.

When a certain expensive lifestyle that gets too expensive to maintain. Builders buyers sellers nanks, all have expensive lifestyles.

Great video thank you for your insight. I asked a very prominent car dealer how many of his cars were financed one way or another. 95%. That’s the number. I bought a new truck and I am in the 5%. I am planning on keeping it for over a decade which might be the difference. Cars are a complete waste of money. Needed. Fun. Waste of money nonetheless

Thank you. Great great share.

How low was the second bid on the first offer day? Did they lose a lot between selling on the first offer day for a bit less (if they accept the 2nd offer) and the actual sold price?

It pencils because you’re only losing $200/month 😂

I loved the real estate speculation as a sport comment. Awesome. 👏

The numbers you showed for the potential investment properties are compelling, however that is reliant on the rental market staying where it is. If the economy slides further and the Feds follow through on the immigration reduction promises, rents might soften and vacancies could increase. You'd want to be able to weather a few bad years if you jump on anything right now.

Thanks for this Vas!

It was unfair when you went into bidding war to get that shoebox. He gotta either sell it at 50% off or keep digesting the losses on monthly basis

That's what you get for buying a shoebox on plans for an "investment", and learn when people see it in real life, they aren't interested in it.

His property didn't sell for $599k so he raised it to $669k? What?

my cousin got 2 in toronto almost finished building. Investment properties 600sqft shoeboxs. I'm guessing she will lose 200k per when its all said and done.

I can't feel sorry for people losing money on a condo. Most condos are owned by investors. They artificially tan up the prices push actual owners out of the market and now expect sympathy. All investing is a balance of risk and reward. A condo is now all risk and no reward. The investors are gone and now you have to make a deal with real owners. You have to drop the price. That prices wasn't real in the first place

A a friend says if it is not selling the price is wrong! The market tells you what it is worth. If I was a buyer I wouldn't offer over 600 for it initially and expect to get it for $615.

There are townhouses here in Scarborough on Florist lane near Kingston and Lawrence. I have watched them get listed for 1.2 million a year ago and they didn't sell. They are now listing for 749,900 and they are still not selling I suspect the correct price is actually about $700,000). A lot of the owners over invested in kitchen renovations and high end finishes that the buyers are not interested in paying for. Anyone buying into that complex should also factor in a roof replacement immediately as the units that are for sale have roofs are in very bad shape. this particular complex has another issue. Its right beside one of the most notorious social housing apartment buildings in the area. Between fires (They had a major one in 2023) and police and TCHC raiding it on a regular basis for drugs, transients, escorts, stabbings and drunk and disorderly calls. It a real S*T Show. Anyone looking at these town homes just had to look at the front of that building what see the kinds of people hanging out fighting, drinking and conducting drug deal in a corner. Never mind pissing as falling down drunk and drinking in the back as well to see that it will impact their sale price. BTW I live in that problem building and over lok the town-homes so I have seen the issues develop over the years.

That's because you aren't desperate enough yet.

It's best for the sellers and buyers real state agents to lower their 5 % commission to 3% which is fair.

When homes cost a million dollars, whole generations become homeless and are lost