Is One Of Your Children Getting Cheated? (York Region Real Estate Market Update)
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- Опубліковано 28 вер 2024
- BOOK A CALL WITH SANTO: calendly.com/t...
In this episode we take a look at the current Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices and real estate market trends for week ending June 5, 2024. We also discuss how the exact same gift, at different times could have a big effect on the outcome!
This video will focus specifically on Vaughan, Richmond Hill & Markham but be sure to SUBSCRIBE for more reports on other areas!
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Santo Sessa & Daniel Sessa
Re/Max Premier
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santo@teamsessa.ca
*This video, nor any of the other videos on the Team Sessa Real Estate UA-cam channel, do not constitute legal or financial advice. This is strictly intended for educational and entertainment purposes only.
The whole generation of young people living here is getting cheated.
Not everyone can afford to live in the 90210... maybe 416/905 is our version of that here in Canada.
@@vert911 people who don't see this as a problem are part of the problem.
@@vert911 Again, what planet are you on? 90210 is actually cheaper than 416/905. Absolutely clueless. 🙄
@@xyz1663 there are 1bdrm Beverly Hills condos selling for 1 million USD. You need to get out more. Toronto property is priced low enough.
Money should be inflation-adjusted.
I would have given him an amount adjusted for the change in price so the gift is the same value.
I will never give money to my children outright; I will only provide financial support in the form of loans, charging interest similar to a bank. Giving money to children teaches them not to treat it as real money. When I pass away, all the money will be divided equally among them.
Inflation adjusted only. Not housing inflation but interest inflation. $100,000 six years ago is not the same as today.
honey there's no such thing as "housing inflation" and "interest inflation". Obviously $100k 6y ago is not the same today. Housing price increases are a byproduct of inflation not just lack of new builds, hence why we target 2-3% annually as healthy number
If the parents would have given the same amount to both in 2018 it would be fair. Giving later today to the son they should compensate for the inflation to be fair to both the children and also for the parents to have clear conscious. That’s what I did with my children to be fair on our part. Sorry to say but that’s not what my parents did to me.
The daughter benefited from Justin only having a few years in power and didn’t have a chance to fully destroy Canada with stupid policies and mismanagement of money from the tax payer. Unfortunately the son is now buying in Justin’s dream for Canada and he’s not done spending.
lol good point, i bet if house price decreased, the son would have kept quiet.
Th eYork market right now is wild. Can't price correctly, the demand is going lower and lower. My buyers are looking for very good deals only. My sellers need to re-adjust to the new June 2024 market. Everything needs to be taken very carefully.
Hi Cristian, it has become very difficult to accurately price homes these days.
I appreciate your comments.
Wish someone gave me 100k. Seems like privileged problem.
Exactly!
imagine crying over getting 6 figures for free 😂
If u got a job with your thinking skills u could save 100,000 in 125 years. Then u could try to acquire some property through mortgage fraud to speculate… but you would likely buy at peak price and get wiped out. 😅
@@xyz1663I’m sure it took the parents 125 years to save 100k
I will give nothing to both children. Let them go and work and save the down payment for their own house. The house I'm living in will be theirs one day. I wouldn't take it with me when I leave this planet. That should be enough.
He is lucky he is getting 100K from his parents period, a lot of kids don't even have that option. As the saying goes don't count the teeth of a gift horse.
Tell the kid to setup a go fund me page or better yet get a job
A gift is a gift. To make a comment at all is ungrateful
Getting married and having a big wedding! The cost of that wedding is the SCAM. INSTEAD USE THAT MONEY FOR PAYING INTO THE HOME / CONDO. This is what my wife and I did way back. SCREW THE COMPETITION WITH EVERYONE ELSE OR STOP COMPLAINING ABOUT NOT BEING ABLE TO OBTAIN THE PROPERTY.
No no not at all 🤔😉
I will say, be grateful for what you get and work hard for the rest😊. This is what happens when people say, “Time in the market vs Timing the market “.
First! Back in 2018, the dollar went a lot further! Sorry, give the same amount to each!!
Nah... they are spoiled brats...
I would pitch in extra to cover the inflation.
I would do the same percentage so the help was equal.
Also it is a scam
What a tragedy
Adjust for house prices
Purchasing power of 100,000 in 2018 is far higher than 2024
So inflation adjusted figure should be given which would be much higher , that's only fair
Yes, I am sensitive to this issue. However, I definitely don’t have money to make up the difference. Still, I am encouraging my son to buy something and get onto the property ladder. No guarantee prices will go lower, but certainly will be ahead in 10 yrs if not in a few yrs.
If u don’t have funds that is understandable. Maybe not so smart to push him into a ponzy tho. Perhaps u should encourage him to leave Canada since u and your gen destroyed this country. Throw some dice on a map… what ever it lands on is better than Canada.
If u don’t have funds that is understandable. Maybe not so smart to push him into a ponzy tho. Perhaps u should encourage him to leave Canada since your gen f this country. Throw some dice on a map… what ever it lands on is better than Canada.
@@xyz1663 Going to a different country will present different problems. One guy was talking about going to Panama and he showed video footage of armed guards on the streets. I would feel very uncomfortable knowing it is often the government that attack the people.
We could have helped our son before 2020, but now with the cost of homes we can't. The sad reality is that the money we saved isn't worth what it was.
It is likely a bad idea to blow your savings on RE in Canada. He can’t save here. U r too old to work more and u don’t want to be broke working at 70.
Tough one
Adjusted for inflation, $100,000 in 2018 is now worth $120,000. That increase in down payment would have almost no effect on his purchasing power
Home prices outpace inflation. Since 1963, inflation has risen 896%, while housing prices have risen by more than 2,350%
2018 was the year to buy. Yet ppl kept calling for another 30% crash in values back then, as they are today.
Where was this house in Richmond Hill with 6 offers?