Homebuyer appetite amid rate cuts
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- Опубліковано 16 чер 2024
- Phil Soper, president and CEO at Royal LePage, joins BNN Bloomberg to discuss trends in home sales activities.
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When I was working in real estate in 2007, I saw people acquire new homes from builders with the purpose of selling them to a new buyer before the end of escrow for a profit. I remember seeing a lot of these condos foreclosed on with the builder plastic still on the carpet because the crash was so violent and rapid.
Most people find it difficult to deal with a fall since they are accustomed to bull markets, but if you know where to search and what to do, you can earn a lot of money. Yes, depending on how you enter and exit.
Given our lack of experience with such turbulent markets, the fact that the US stock market has been on its longest bull run in history helps to explain the widespread dread and excitement. There are opportunities if you know where to look, as you noted when I earned almost $780k in the previous ten months. I hired a portfolio advisor because I knew I'd need a sound strategy to get through these trying times.
My portfolio had been in the dumps for the entire year, so I began looking for new ways to benefit in the market, but everything I attempted seemed to fall short. Please provide the name of your financial advisor.
It was run by Sharon Ann Meny, whom I found about and contacted through a CNBC interview. It has since acted as a point of entry and departure for the games we have highlighted. If tracking is required, an internet search can be performed.
I simply typed Sharon's whole name into my browser, and her website appeared immediately. You've spared me several hours of tedious research, so thank you.
This guy is a known pumper and FOMO dealer.
For him to say prices are flat must mean there down.
Zero appetite. Rate cuts are a signal we are in a recession. Inventory up, sales volume down, prices sideways or down.... a crash awaits.
well Im buying mine. Good luck!
@@benny871 I wish you luck …. I don’t think buying now would be a bad thing has long as you can afford it and plan to live there for 10+ years
Even if the market is crashing down, do you expect the Chair of Royal Lepage to admit? 😂
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who witnessed the 2008 financial crisis can expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
@@ChloeCarter-kd7gz My CFA, Desiree Ruth Hoffman, is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. I must say, Desiree appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
haha..this guy is a liar. he is on his side of course. is he going real estate housing market going to crash?
The home prices anywhere near Toronto are insane. Not a desirable destination. Even if you can afford the insane prices, youre getting shit value for your dollar as those homes are dumps.
Not only that, the people living there now are garbage. You can't even buy a nice car anymore. They will steal it and the cops are encouraging you to leave the car key at the front door for them to take.
Were moving countries before paying these inflated prices for poorly built Canadian homes
I did move. Worked out fantastic.
I don’t know where people have moved to, but not ALL of Canada is unaffordable…
Wrong @@wc4109
Tell me more. What countries or provinces or cities are good in your opinion.
Only the homes built in 1979 or earlier were well built. Everything built since is shoddy workmanship unless its a custom build.
Phil Sopel is a snake oil saleman not an economist. This is like bringing the CEO of American Tobacco to discuss whether sales of cigerattes will go up.
When will BNN takes itself serious as a business station.
Look at Sopel' s track record in forecasting the last 2 years.
Engineered collapse
This will end up in big disaster
Everyone start lowballing
Those are "homes"!?
They aren't four, five and six unit apartment buildings?
Where are the yards?
Oh, the title says "homebuyer".
I get it now.
Glad I didn't start the video yet, it is clearly aimed at hedge funds and venture capitalists.
Not home buyers.
Calling for a price increase in June is wishful thinking. 😊
Well that .25 rate change is just going to really make a difference 😂
Over a billion in mortgage delinquency in Q4 2024. That will likely result in a house price increase 😂😂😂😂😂😂
Do not look at the total amount of delinquency. Delinquent rate matters which have not changed yet but this should increase from a half yr from now.
Soon we'll see lineups down the streets and around the corners as endless people bid on a small supply of homes for sale.
Housing market completely depends on the Canadian government.
If Trudeau and Freeland say, they will charge all developers a new tax in 2025, Canadians will dig out all their cash stash and buy right away
Yeah Yeah right right right…So many buyers on the sideline waiting buy, buy, buy oh my goodness!
We can't just keep lowering interest rates when 5% is low. Cheap money is not the answer. You just have to ride it out to prevent any more damage. The more the artificial prices keep going up, the next biggest economic disaster will be like we got hit by a nuclear bomb.
HIS TONE/BODY LANGUAGE SAYS IT ALL.. "THE PSYCHOLOGY OF IT ISSS UHHH MMM DUH..."
Where would the sales come from? They don't build houses and the condos are gettting smaller and smaller. I would stay out.
I got 2 wealthy families in my neighbourhood in North Oakville. They sold their houses in March 2022 between $ 2.5 to $2.7 million and now similar houses are waiting on the market about $1.89 million. They are still getting over $ 10K cash interest from banks and paying $4K rent and they are screaming on streets and social media “housing is NOT affordable “and behind they are laughing and saying soon will buy 2 houses with cash and you will begging for us to buy.
Now we have to pay even more on capital gains taxes 67 percent on less $700K-$800 K resale price and just more saving money from interest rates? They are big Liberal fans and apparently they have insiders information about the timings from Bank of Canada and Canada Mortgage Housing Corporation. This is how current government punishing Canadians.
I will pay 67 percent capital gain but at least if I get pricing from March 2022.
So for the most NON Liberal insiders you get LoseLose situation and for them WinWin situation. Unbelievable
How do these guys have no understanding of how a crash in the condo market impacts all other dwellings? Economics 101😂. Bring in a PhD in economics. The information they would provide would be too terrifying for us home owners
Keep pumping that bubble Phil. When the bottom falls out of the housing market I'm sure he'll golden parachute himself out of a job.
the immigration herd is gonna get slaughtered. my neighbor and his wife from india are making 18-22 hr he told me and he’s living in a 750k house he bought 2 years ago.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Household wealth at the highest point ever, so is household debt
Find a way to reduce the cost for builders, that's the take away. If you can't reduce the price to make the product you can't reduce the market price of it. Simple.
Houses are crazy expensive.
Don’t buy suckers
Context : ''One of the worst summer market in recorded history, lowest demand in decades, prices too high for the average mortgage borrower, highest interest rates in years, record default and bankruptcy increases, record bank loss provisions increases, supply increasing dramatically everywhere you look, supply is sitting for months unsold''
Real estate market pumper/Realtor on TV : ''of course dropping 0.25% in rate and removing 50$ from a gazillion dollars monthly mortgage is going to push prices up again from the crazy amount of demand out there''
I wish this was a joke... Is anyone even supposed to take this seriously? Legitimately curious here. I'm actually curious to know if this is a comedy sketch with crazy levels of sarcasm. This is Lalaland levels of ridiculous.
Yes 2008 was just a little thing that only lasted 6 months.. lol
If the news on AI productivity is more attractive to big corporations to use, then human employees are being laid off. Fewer people can qualify for anything, not to mention big ticket items like real estate purchases. The fear of losing humans jobs from the AI employees' attractiveness to big bosses, the appetite of any kinds of purchases, is in jeopardy.
No such thing, they can't even predict the weather. Someone needs to program it. Just another Google advanced search
Royal LePage 😂😂😂😂😂😂😂
Gross how they talk about housing
How does this come in line with the communist manifesto?
Hi diarrhea will accelerate in the second half of this year.
justin T need to go
LOOOOOOOOOOOOOOOOOOOOOOOOOOL
they better lower those rates quickly. takes a year for this train to slow down. we'll hit the end of the track before then, if they dont start lowering quickly. Ignore what the US is doing. Do whatever you can to put canadians in homes. Reel in inflationary government spending. Keep supply chains healthy.
Phil Soper is like an alcoholic trying to justify his drinking….”no no no, I’ll just have one drink…everything is fine”.
🍿🍿🍿🍿🍿😎
I got 2 wealthy families in my neighbourhood in North Oakville. They sold their houses in March 2022 between $ 2.5 to $2.7 million and now similar houses are waiting on the market about $1.89 million. They are still getting over $ 10K cash interest from banks and paying $4K rent and they are screaming on streets and Social media “housing is NOT affordable “ and behind they are laughing and saying soon will buy 2 houses with cash and you will begging for us to buy.
Now we have to pay even more on capital gains taxes 67 percent for less $700K-$800 K resale price and just more saving money from interest rates for them? They are big Liberal fans and apparently they have insiders information about the timings from Bank of Canada and Canada Mortgage Housing Corporation. This is how current government punishing Canadians.
I will pay 67 percent capital gain but at least if I get pricing from March 2022.
So for most NON Liberal insiders you get LoseLose situation and for them WinWin situation. Unbelievable
capital gains tax isnt 67%
@@rochester3 yes will be from June 25th
@@miloradrabasovik7938 you’ll be paying capital gains tax on 66% of your capital gains over 250k, not 66% tax on your capital gains theirs a difference