My small rural town is at max a 10% discount of the nearest major city. Some houses lb for lb are the same price. If we went back to 2019 it was 1/4 of the cost, things are so out of whack it is confusing as hell.
Some people work for 40yrs to have $1M in their retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires
Financial education is what we need right now for more than 70% of the society in the country as very few are literate on the subject. Thanks to Jihan Wu, the man that changed my financial life.
2 million temporary residents no longer are eligible for permanent residency with the new rules. Real state will decrease in value next couple of years
That's what I figured. I have no debt, I'm a software developer and my girlfriend works for the federal and we can't afford a small house that isn't falling apart. It's not right.
I agree with the TD analyst that lower rates will stimulate activity in real estate, but I don't think it will mean higher prices for houses and townhouses. I think it will take a year or two to clear out the current inventory, so instead of taking six months to sell your home, it might only take one or two months, but at a similar price point. The condo market, however, is a separate market altogether, and that one hasn't seen the bottom, which I attribute not to market conditions, but to the fiasco for landlords at the Ontario Landlord and Tenant Board making condo investing too great a risk.
Why is everyone assuming that the interest rates will go down and remain low for ever? There are a number of global economic indicators that suggest central banks will have to tighten again in a couple of years to reign in currency devaluation, runaway deficit and inflation. imo anything more than a 2 or 3 yr variable could be high risk.
You are absolutely right haha there’s definitely going to be a trigger with the interest rates if it goes below 4% I’m definitely going from a townhome to a single family I have 430k in equity ready to make the jump
Interest rates are going to need to come down before everyone needs to refinance at the higher rates but... it' time for the government to put strict rules on flippers, speculators, developers and foreign and institutional investors buying single family homes. Buy multifamily condos and apartments but single family homes need to be protected in order for them to have a chance to remain even somewhat attainable for Families....even though governments are probably enjoying the "lotto like" revenue spike from new higher property valuations!
We are all addicted to the idea that we cannot afford something if the bank doesn't approve our application for a loan. Why not try living within your means? If you don't have the cash, don't buy it. Combine this with forming trade agreements with your neighbors for goods and services. If people came together and implemented these two simple strategies there would be no more banks, inflation, quality of life would go up dramatically and a corrupt government would not be able to control and steal from you any longer. Problem is that the vast majority of people have no interest in changing and so without verbally saying it they accept the corruption we live under day after day.
On the ground there is little selling here in the Vancouver area, what is selling is going well under asking price. Buyers aren't watching interest rates, they're actually waiting for house prices to correct about 10%.
ONE Thing for sure is reduction of interest rates would NOT have the Prices of the homes drop but only way is they would again start increasing. Initially market would show drop in prices as MANY MANY of investors who felt they are trapped in a situation and wanting to offload the investment at the earliest possible chance would let the houses go off with even same prices as they bought which can signal a price reduction but soon that small percentage of homes would be gone and same situation of bidding wars scenarios will make a come back with new rules allowing people to buy properties worth 1.5 million as well......
The money has already shrunken from almost 9 trillion to 7 trillion so why you think home prices will go up by 23% ? Also this is because of foreign investment which is getting out now so there’s not much left in the price hikes except for real estate to go down due to demographic and taxes as well as income for people has reduced by at least 25-40% depending on where they work. I don’t see all this price hikes coming through 😂
Brace for $3.00 Gas by Christmas & New Year's Eve! Followed by HIGH inflation and Jumbo Rate HIKES. - Hold onto your Hat! - Hold onto your Pants! - Hold onto your Shirt! - Hold onto your Wallet!
People need to stop with the daytrading mentality. A rate cut does not spur demand the next day, it takes 6 months plus for things to kick in. (just like the first increases did nothing for a year) Big cut won't increase housing that much, because of the high prices.... condos however when rates come down fast will turn back to heavy cashflow positive as rents are still high.
I love hearing people continue to say they are going to wait until the market collapses 40% more before they consider buying! Dense sitters sat when homes were 30% higher than they are today and rate were low. Now prices are down and rates are up. Shortly prices will be lower and rates back to a healthy normal range. The fence sitters will sit and watch. At that time they will say well the economy is going to collapse. It’s why they sit and watch others get ahead and succeed. They pan they want the government to hurt those that took some risk and it paid off! Please stay on the fence. Just please don’t resent those that see opportunity when it’s right before our eyes. Rent! Landlords like me need good tenants and tenant need good landlords.
Just sold my townhouse ( seems to maxed out on price ) bought a home at a variable rate for under 800K in a neighborhood that rarely has homes for under that price. I’m expecting a huge increase in homes with interest rates cuts and extending the amortization, there is a lot of people waiting to buy homes right now, more then we think.
I don't think a lot of buyers are waiting by choice. I think affordability is so bad that few can afford to buy at all.
My small rural town is at max a 10% discount of the nearest major city. Some houses lb for lb are the same price.
If we went back to 2019 it was 1/4 of the cost, things are so out of whack it is confusing as hell.
Hit 401k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in July 2024…
Some people work for 40yrs to have $1M in their retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires
You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to one's total assets ratio
Waking up every fourteenth of each month to £210 thousand it’s a blessing to I and my family… Big gratitude to Jihan Wu🙌
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still believe in God
Financial education is what we need right now for more than 70% of the society in the country as very few are literate on the subject. Thanks to Jihan Wu, the man that changed my financial life.
houses are 40 per cent over valued the government has been propping up values for the purpose of collecting more taxes.
It’s likely there is more truth to this than I want to believe
2 million temporary residents no longer are eligible for permanent residency with the new rules. Real state will decrease in value next couple of years
I own a construction business in new housing and I can tell you people are broke…… even if the interest rates came to zero it wouldn’t matter.
That's what I figured. I have no debt, I'm a software developer and my girlfriend works for the federal and we can't afford a small house that isn't falling apart. It's not right.
@@D4rkBl4de i know that’s a big problem .!!!
I agree with the TD analyst that lower rates will stimulate activity in real estate, but I don't think it will mean higher prices for houses and townhouses. I think it will take a year or two to clear out the current inventory, so instead of taking six months to sell your home, it might only take one or two months, but at a similar price point. The condo market, however, is a separate market altogether, and that one hasn't seen the bottom, which I attribute not to market conditions, but to the fiasco for landlords at the Ontario Landlord and Tenant Board making condo investing too great a risk.
What difference does it make how low interest rates go when a townhouse is a million + and 600squ foot condo go for 500-600k?
Why is everyone assuming that the interest rates will go down and remain low for ever?
There are a number of global economic indicators that suggest central banks will have to tighten again in a couple of years to reign in currency devaluation, runaway deficit and inflation. imo anything more than a 2 or 3 yr variable could be high risk.
Real talk: Canada is on the edge of the Abyss.
Definitely keeping an eye on this!
Complete waste of time. This realtors are nothing but only and only FOMO Pumper.
Without bank demand fpr loans, there will be no growth. Meaning if banks dont approve loans, then there is no market demand and prices drop
You are absolutely right haha there’s definitely going to be a trigger with the interest rates if it goes below 4% I’m definitely going from a townhome to a single family I have 430k in equity ready to make the jump
Interest rates are going to need to come down before everyone needs to refinance at the higher rates but... it' time for the government to put strict rules on flippers, speculators, developers and foreign and institutional investors buying single family homes. Buy multifamily condos and apartments but single family homes need to be protected in order for them to have a chance to remain even somewhat attainable for Families....even though governments are probably enjoying the "lotto like" revenue spike from new higher property valuations!
What do you think of the 8,000 square foot home with 4 families in them? I’m seeing a lot of those where I live.
We are all addicted to the idea that we cannot afford something if the bank doesn't approve our application for a loan. Why not try living within your means? If you don't have the cash, don't buy it. Combine this with forming trade agreements with your neighbors for goods and services. If people came together and implemented these two simple strategies there would be no more banks, inflation, quality of life would go up dramatically and a corrupt government would not be able to control and steal from you any longer. Problem is that the vast majority of people have no interest in changing and so without verbally saying it they accept the corruption we live under day after day.
Hey Nolan I'm looking to purchase a second property, are you guys able to help me with that process?
Love to hear comments on when is the right time to buy if you have a house to sell and cash to pay for an upgrade?
On the ground there is little selling here in the Vancouver area, what is selling is going well under asking price. Buyers aren't watching interest rates, they're actually waiting for house prices to correct about 10%.
More like 50% correction 😂
What about jobless situation? How will that impact the situation?
ONE Thing for sure is reduction of interest rates would NOT have the Prices of the homes drop but only way is they would again start increasing. Initially market would show drop in prices as MANY MANY of investors who felt they are trapped in a situation and wanting to offload the investment at the earliest possible chance would let the houses go off with even same prices as they bought which can signal a price reduction but soon that small percentage of homes would be gone and same situation of bidding wars scenarios will make a come back with new rules allowing people to buy properties worth 1.5 million as well......
Wrong on all topics, homes are already overpriced overvalued minimum 40% even if interested is zero price is going down big time.
The money has already shrunken from almost 9 trillion to 7 trillion so why you think home prices will go up by 23% ? Also this is because of foreign investment which is getting out now so there’s not much left in the price hikes except for real estate to go down due to demographic and taxes as well as income for people has reduced by at least 25-40% depending on where they work. I don’t see all this price hikes coming through 😂
Great perspective and sound advice.
100%. I try to use MCAP always.
The dollar is trash, due to government debt and spending (inflation). Everything is high, not just housing.
House prices are likely to go up bc lowering rates and increased govt debt will devalue the dollar
Brace for $3.00 Gas by Christmas & New Year's Eve!
Followed by HIGH inflation and Jumbo Rate HIKES.
- Hold onto your Hat!
- Hold onto your Pants!
- Hold onto your Shirt!
- Hold onto your Wallet!
Where can I take this bet
lol a big cut means ppl gotta hunker down
People need to stop with the daytrading mentality. A rate cut does not spur demand the next day, it takes 6 months plus for things to kick in. (just like the first increases did nothing for a year)
Big cut won't increase housing that much, because of the high prices.... condos however when rates come down fast will turn back to heavy cashflow positive as rents are still high.
realtors day dreaming a lot these days but unfortunately casino run is over
I love hearing people continue to say they are going to wait until the market collapses 40% more before they consider buying! Dense sitters sat when homes were 30% higher than they are today and rate were low. Now prices are down and rates are up. Shortly prices will be lower and rates back to a healthy normal range. The fence sitters will sit and watch. At that time they will say well the economy is going to collapse. It’s why they sit and watch others get ahead and succeed. They pan they want the government to hurt those that took some risk and it paid off! Please stay on the fence. Just please don’t resent those that see opportunity when it’s right before our eyes. Rent! Landlords like me need good tenants and tenant need good landlords.
All paid for
Only a fool would buy real-estate in Toronto now. Prices headed much lower
I must be a fool then cause I bought in July 😜
If you were a rapper your name would be Foolio 😅@@robocop581
Buy a house by JAN/FEB 25 go variable. Lock in mid 2025.
I'm about to lock in at 3.9% for 3 years. Can't imagine variable will get much better than that anytime soon.
who's offering 3.9%
Just sold my townhouse ( seems to maxed out on price ) bought a home at a variable rate for under 800K in a neighborhood that rarely has homes for under that price. I’m expecting a huge increase in homes with interest rates cuts and extending the amortization, there is a lot of people waiting to buy homes right now, more then we think.
Doubt it