Bank of Canada key interest rate cut didn't help May house sales
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- Опубліковано 11 лип 2024
- Phil Soper -- President and CEO of Royal LePage -- joined CP24 to talk about how this could impact the real estate market.
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Oh wow, you mean .25% was meant to make a $800,000 more affordable?
Prices need to come down otherwise shit isn’t going to change
I moved from Tampa to Canada a few months ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai, energy and big pharm. stocks like Pfizer and JnJ, ASML, MLM and S&P 500 ETFs. I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year
I’m an art collector, this is not very new to me but has a nuance to it. Can you assist me?
There are many advisors to choose from. But I work with 'Leah Foster Alderman' and we've been working together for years and she's fantastic. You could check her if she meets your requirements. Just research the name. You’d find necessary details to work with
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How about we decommodify average and basic housing entirely!?!
Not surprising at all. The interest rate cut was a signal to the gov to spend in accordance of practice more fiscal responsibility next to the last budget. It wasn’t about average Canadians getting confidence.
The market is wildly overvalued. End of story. Investors have been playing the residential market for 20 yrs creating demand. Yes there's enduser demand but wages were left in the dust over that 20 yrs.
And now we are seeing condo assignments taking it on the chin with prices dropping massively. That will impact regular condo sales and will bleed into the freehold market. That huge spike during COVID was completely unwarranted and it should be erased.
Treasuries are still inverted and the BOC and Fed won't be dropping rates rapidly or back down to 1 or 2 percent.
This market needs a correction. We haven't really had one since 1990.
Meanwhile in other news water is wet.
People still can't afford it with more rate cuts lol
Bonsoir à tous depuis Haïti
Houses cost too much money…We don’t have that kind of money…we’ve stopped dreaming and prefer a sound sleep instead.
REAL ESTATE | Housing market sees a boost in June by 3.7 per cent: CREA. Over on CTV. President of Royal LePage says nothing about June.....someone has an aganda.
Rates need to get back to 3-4.5%. Trudeau needs to stop spending all our damn money. We need to STOP immigration for at least 3-4 years. Improve productivity by investing in tech companies and create job growth in Canadas major cities. I pray to god Pierre can fix this country in the next 4 years cause the damage is truly done.
More reason not to cut the rates!
How about u get rid of interest all-together ?
How about get rid of mortgages? Mortgages were invented to make money. It was designed that way and I don't think the government will allow the artificial housing market to crash 50-75% to true market value. That would be a disaster since the damage is too heavy to recover from. It would take 2 decades to recover if the government did the right thing. It's sad but we have to play their system. Can't beat them, join them. Play the game.
The prime rate in Canada is 6.95%. when it used to be 2.45%. Interest rose too quickly in a year. Too many "new" social supports recipients. Too many runs on the food banks etc.
0.25 % reduction rate on a mortgage LOL.
It is as funny as the term building "affordable housing". There are no details on what is considered affordable, how large the units are, and for how many people you can stuff in. Developers took a risk and built condos, people backing out, and developers losing their developments because salaries did not increase to match the Liberal\NDP inflation rate.
trump tariffs and american oil companies coluding with opec+ cause a quarter or more of the golbal inflation. Corporations are unaffected by the inflation which is odd ya....
I am looking sponsor?
lol a quarter of a point does absolutely nothing. No one’s surprised
Gotta love canadian media giving us shit we already know and not actually providing anything useful
Welcome to the money laundering capital of the world! 😂😂😂😂