@kashrao007 it really doesn't matter. The product is the same, it has not changed so why should one pay higher prices. At least for stks , we know what new products a company has in pipeline and can judge future cash flows. Moreover, housing prices are artificailly propped up, thanks to easy money and predatory lending by banks. Certainly, wise people can not shell out money for cheap Chinese import material (which vast majority use to lower their housing construction costs) in the hope they will generate some future cash flows. Remember, the Canadian government is in collusion on this. They have vested interest.
@@kashrao007BS! They have no prob building the same new model for $250,000 to $300,000 in USA. U need to go to jail for fraud. Why on one side of border old home model is $900,000 while 15km across border exact same model and age home is $150,000?
Funny story: we're buyers right now, offered fair market value 5 months ago. The owners were "quite offended". It sold for 60k less than our max offer 4 months later.
A lot of the homes were bought for 180,000 to 200,000 20 years ago or so.That is how crazy the marker has changed but not in all of the province. Would like to live in TO but will never be able to afford a house or even a garage there.
Good advice to sellers to dump quickly. They missed the boat already (zero buyers out there). Good advice to buyers would prob b to not buy now at any price. Hard landing 2024 that will last years. Only a fool would buy before a massive recession.
If they missed this, they would have to wait another life time to get something like this again. By then they realize they are not kid anymore, coming to the end of their life. A total waste of life chasing Gold.
thanks everyone, but what do you think the buyers paid. yes i agree with interest rates and in 2023 the house should not be over 900K. I am sure in the US it would be around 700-800K
I did a job in Kleinberg over ten years ago, the HO was the original owner, she was in her 90s, always had great stories of her time in the area, then she would point to all the McMansions being built on her street and lament what her neighborhood had became. Its a fvcking shame what were doing.
We got 4 realtors in our area, they care about the price, they have spec home builds they got to unload so they refuse to budge the price. We are stuck at peak pricing due to their collusion.
@@DTrent-uy1wlppl should be buying during this time. Picking up a better deal then 3 months ago. But ppl are scared to own or can't afford. Why be scared to buy a home knowing in 6-8 months prices will be higher than they are today and in 5 years +300k higher than today. So why be afraid 😱
There is a large seniors/empy nester segment of the market who were considering downsizing. Those people have lost pure equity by waiting plus they're getting older.. those people don't 'need' to sell but their lives dictate it is time to move.
There are no buyers so it is a mute issue. They missed the boat. It doesn’t matter if they want to or need to sell because there are no buyers. 95% properties are not able to sell… just sitting there.
@@xyz1663 wait 5 months. A slow season builds more buyers which there are so many on the sidelines. Gotta wait for the rates to come down then a bunch of buyers will be seen coming back. This time last yr was slow too
Even $2.1M is too much a price to pay. Artificial inflated prices for a house worth 800k.
Seriously. From inside the homes are worth 800K for sure.
Not really, I am a custom home builder. The cost of building a 2000sqft with the standard materials is about 800,000+land+development cost.
@kashrao007 it really doesn't matter. The product is the same, it has not changed so why should one pay higher prices. At least for stks , we know what new products a company has in pipeline and can judge future cash flows. Moreover, housing prices are artificailly propped up, thanks to easy money and predatory lending by banks. Certainly, wise people can not shell out money for cheap Chinese import material (which vast majority use to lower their housing construction costs) in the hope they will generate some future cash flows. Remember, the Canadian government is in collusion on this. They have vested interest.
@@kashrao007 your a custom home builder not one that can leverage scale your costs are significantly higher then larger builders.
@@kashrao007BS! They have no prob building the same new model for $250,000 to $300,000 in USA. U need to go to jail for fraud. Why on one side of border old home model is $900,000 while 15km across border exact same model and age home is $150,000?
Funny story: we're buyers right now, offered fair market value 5 months ago. The owners were "quite offended". It sold for 60k less than our max offer 4 months later.
Ive witnessed that alot in the past
They will see the mirror soon
Same thing happened to me last year in Ontario. Offered 25k less, Seller rejected it. Then sold in for 30k less😂 after a month
A lot of the homes were bought for 180,000 to 200,000 20 years ago or so.That is how crazy the marker has changed but not in all of the province. Would like to live in TO but will never be able to afford a house or even a garage there.
Bought for that 8/9 years ago… not 20.
You bought a detached single family property in Vaughan/Rhill/Markham in 2014-2015 for $180,000-$200,000? What did you buy, a garage?@@xyz1663
Its a 1M$ buy in for a crap house in a nowhere town
Thanks for some great general insights and advice in the introduction. Regardless of region, it was worth watching.
Good advice to sellers to dump quickly. They missed the boat already (zero buyers out there). Good advice to buyers would prob b to not buy now at any price. Hard landing 2024 that will last years. Only a fool would buy before a massive recession.
💯
If they missed this, they would have to wait another life time to get something like this again. By then they realize they are not kid anymore, coming to the end of their life. A total waste of life chasing Gold.
I see a house i have been keeping my eye on in Klienberg $2,999,999 its been on the market for over 160days what do you think it should go for?
Offer 800k
I’d say $1M-1.2
Max 700,000
thanks everyone, but what do you think the buyers paid. yes i agree with interest rates and in 2023 the house should not be over 900K. I am sure in the US it would be around 700-800K
I did a job in Kleinberg over ten years ago, the HO was the original owner, she was in her 90s, always had great stories of her time in the area, then she would point to all the McMansions being built on her street and lament what her neighborhood had became.
Its a fvcking shame what were doing.
realtors do not care too much about the drop. they just want to get the house sold.
We got 4 realtors in our area, they care about the price, they have spec home builds they got to unload so they refuse to budge the price. We are stuck at peak pricing due to their collusion.
I recently picked up the habit of chewing my fingernails
Be CAREFULL YOU DONT EAT YOUR ARM. HAAAAA
@@michaeltexeira6185 in the current state of affairs, I may have to
I've moved to meth get a real habit
Good ol DirtyBird
Ya ya, just wait till BoC cut the rates... Lol
and the reason for them to cut the rates? hope u will still be able to lol then ... kakakaka
@@dukebbb6539once rates cut. These drops in values within 6months u see now are in the rear view mirror..
Remax schiller
If rates get cut I hope you enjoy 75$ bread and 50$/dzn eggs
Greed lol
Silly Bulls crying somewhere right now
How is renting going though? Quite expensive for something you don't own.
Everyone is crying- it’s bad to own, it’s bad to rent. I’m actually starting to tear up while writing this post
Crying at HOME 😂
@@DTrent-uy1wlppl should be buying during this time. Picking up a better deal then 3 months ago.
But ppl are scared to own or can't afford. Why be scared to buy a home knowing in 6-8 months prices will be higher than they are today and in 5 years +300k higher than today.
So why be afraid 😱
At home, I’m so broke I can’t afford to go out and eat
People expected and now we are here at
That’s it. What else?
Next move? Hold it or do it. As always we have been doing so
Normal seasonal drops occurring. Some distress sellers but for ppl who dont need to sell r foolish.
There is a large seniors/empy nester segment of the market who were considering downsizing. Those people have lost pure equity by waiting plus they're getting older.. those people don't 'need' to sell but their lives dictate it is time to move.
There are no buyers so it is a mute issue. They missed the boat. It doesn’t matter if they want to or need to sell because there are no buyers. 95% properties are not able to sell… just sitting there.
@@xyz1663 wait 5 months. A slow season builds more buyers which there are so many on the sidelines. Gotta wait for the rates to come down then a bunch of buyers will be seen coming back. This time last yr was slow too
I'm impressed with how people haven't dropped their prices.
@@dirtyburger7528 there have been a few good deals since August. But not too many.
Santo, you sure spreading fear with those disgusting stats
No, Trent. He is telling you like it is.
I know that. It’s going down HARD
Figures don't lie.
People who can afford a $2 million house are not Joe and Jane Average i.e. working stiffs.
Paisan is causing anxiety out there