Would you get into a "Fake Bidding War" if the property you wanted was under priced on purpose? Book A Call About Real Estate: calendly.com/stevekarrasch
Vancouver buyers have money and often lots, those buying in the suburbs are usually those that want a house, but don't have the money to buy in the city or near city, so go out further and often stretch their budgets. These are the people that are hurting the most, so not surprised the issues are showing up in these markets first. This likely is more the start than near the end though.
Just because the bubble didn't pop for 20 years doesn't mean it will go forever. Canada is about to face a real deep recession with high unemployment and people still have fomo 😂. I guess it is recency bias in play here.
We saw fixed rate mortgages move up again in April, prices will have to adjust, particularly in the suburbs. There was a narrative that rates would start to drop and the market would frenzy, but now it’s clear we’re going to see minimal BoC rate cuts - if any. In fact, US inflation and bond markets - which sets the fixed rate - indicate fixed mortgage rates will continue to rise, so buyers borrowing power keeps shrinking. I wonder how long it will take to see prices adjust to the new normal.
Biggest issue is supply, not rate ; bond market 10 year will see inversion soon as job market cools This is what a soft landing looks like - lots of contradictory signals
We need FOMO!! FOMO is good. FOMO is great. All those cottage owners here in Ontario are pissed!! Sitting on fake wealth might not pay off. In the area I cottage the amount of places that came for sale last year was crazy. I wonder what might happen with the new Trudeau tax. I just wonder. I love it.
@@arethereanyuniquehandles how could we wish for anything better? Blackface, more conflict of interest than I can count, invitation of SS members in Parliament, double the national debt, crushing peoples rights and freedoms. What’s not to love? Trudeau 2025 👍👍
When the rate cut happens, a recession will be in full swing with millions of job losses. Pray that your tenants have their jobs as the government will put a moratorium on evictions. They will live rent free in your property and you can't do anything about it.
Would you get into a "Fake Bidding War" if the property you wanted was under priced on purpose?
Book A Call About Real Estate: calendly.com/stevekarrasch
Karrasch Real Properties, Your videos always make me happy, so I subscribed!
I feel the same way about your comments.
It's his set I like! It's that your furnace room?
Everyone needs to agree to put offers in only at 20% less than price listed
I'm going to offer -19%
Sure, if you want to be homeless forever
All property owners need to agree to list at 20% above …
Don’t work that way
Vancouver buyers have money and often lots, those buying in the suburbs are usually those that want a house, but don't have the money to buy in the city or near city, so go out further and often stretch their budgets. These are the people that are hurting the most, so not surprised the issues are showing up in these markets first. This likely is more the start than near the end though.
Buyers should just chill and let the recession playout so the over leveraged guys get flushed. Patience is key here.
Thos who wait eventually lose.
Exactly
Lol wait? Have you even seen how much the price has risen over the past couple of years?
Just because the bubble didn't pop for 20 years doesn't mean it will go forever. Canada is about to face a real deep recession with high unemployment and people still have fomo 😂. I guess it is recency bias in play here.
Wait how long your life is finite its been over 10 years
We saw fixed rate mortgages move up again in April, prices will have to adjust, particularly in the suburbs. There was a narrative that rates would start to drop and the market would frenzy, but now it’s clear we’re going to see minimal BoC rate cuts - if any. In fact, US inflation and bond markets - which sets the fixed rate - indicate fixed mortgage rates will continue to rise, so buyers borrowing power keeps shrinking. I wonder how long it will take to see prices adjust to the new normal.
Biggest issue is supply, not rate ; bond market 10 year will see inversion soon as job market cools
This is what a soft landing looks like - lots of contradictory signals
Even if you can buy a house right not, why not wait it out until the market gets a 30% shave?
If you were waiting for 30%, why didn't you buy at the end of 2022?
@@SteveKarrasch 30% overall, not on a specific region. I’m waiting for a crash basically
Underpricing homes for attention seeking is very annoying. Just there to tease buyers really.
Yup.
We need FOMO!! FOMO is good. FOMO is great. All those cottage owners here in Ontario are pissed!! Sitting on fake wealth might not pay off. In the area I cottage the amount of places that came for sale last year was crazy. I wonder what might happen with the new Trudeau tax. I just wonder.
I love it.
Not to many people love Trudeau as much as you do.
@@SteveKarrasch he is a wise wise man. Trudeau 2025 👍👍
@@jeffotoole4509 I hope that is sarcasm.
@@arethereanyuniquehandles how could we wish for anything better? Blackface, more conflict of interest than I can count, invitation of SS members in Parliament, double the national debt, crushing peoples rights and freedoms. What’s not to love? Trudeau 2025 👍👍
Haha
Stop treating it like an investment, but a home.
If you don’t plan on being in it for 5 years, don’t buy/move
FOMO may soon change to FONO: FEAR OF NOT GETTING OUT in time in a crashing market.
There is no FONO
Oh, 1,420,000 - what a bargain!
wasn't worth a penny over $1,419,965
@@SteveKarrasch I was being facetious.
It's epic, a FOMO content creator is explaining what FOMO is. 😂😂😂😂
Epic, you missed yet another point of my videos.
You seem much more somber in this video than your other videos. Not as chipper, jokey jokey.
Subscribers say they like unedited casual Steve better. So I'm giving it a shot.
once the rate cut started, you will regret not getting it now
That might be true.
what happen if it go up ? More regret
@@JohnLee- 😃
@@JohnLee- people will over pay then cry later, the usual lol
When the rate cut happens, a recession will be in full swing with millions of job losses. Pray that your tenants have their jobs as the government will put a moratorium on evictions. They will live rent free in your property and you can't do anything about it.