Do you think the government will intervene to cool the housing market? Do you think it will disproportionately hurt younger buyers? Let me know in the comments!
While I get the fact that supply and demand is obviously what's driving the prices up, there is one factor that has to play a role in this. If the market doesn't balance itself somehow, something has to happen. There aren't enough jobs that pay for natives to afford rent or buy. What's going to happen?? 20% of the GTA going to be living on the streets or government housing?
Good point. So markets always have cycles and correct. However the long term trend will stay the same if the population continues to grow. How that’s paid for... I’m sure there’s people above my pay grade thinking of creative solutions.
Low interest rates, 1.2million new immigrants coming to Canada (over 3 years), and boomers not selling their homes and moving into old age homes for to fear of COVID, plus add that BoC said no interest rate increase in the next 3 years. And further more, more foreign investors flooding into Canada. So when you take the above into consideration, don't expect any significant price drops for a while.
Exactly on all of your point. Housing to the moon. Leverage up and buy as much real estate u can because what u are buying is a government supported, low risk, high reward investment. Its the safest place to put money. Better than stocks, and of course better than garbage savings accounts or bonds. Real estate is the best investment going in Canada - and its GUARANTEED by the government. So max out the mortgage boys and get on the winning side
Well said and yes, that’s my prediction also. We could see a short term “shock” if the government does something funky, but like 2017, it didn’t last too long
This is exactly what I see as well, the need for housing is coming from 2 steams, population growth, + rich needs to hedge against inflation. Do you see the high unemployment rate and rising interest rates will crash the housing market, I looked at the US in 1975 - 1980, high unemployment, and ultra high-interest rates, yet the housing still went up during that period. Are we in a similar environment?
If we had 400K prices here in canada we would have many offers as well. 2Mil for a nice house in the GTA is just crazy ..........It gets to the point even with a good job you cant afford a home regardless of the interest rate ...We need a major correction...even if you buy at these crazy prices in 25 years you will own it and by that time the price will catch up
Im single, I make good money as a OTR truck driver, i live on in apartment w a roommate but im 30 and getting this feeling it's now time for me to move to a place I'll own, the problem is i feel like I'll be missing on a good investment opportunity if i buy a house instead of a rental property but I know nothing about real estate and im concerned with the forthcoming inflation and economic crash so many economist talk about, especially considering these assholes at davos worls economic forum talking about great reset stuff
So if there’s inflation then hard assets like real estate are better places to put your money. If you have any more specific question feel free to email me Derek: jeff@thevillageguru.com
@@mahirdheendsa9282 ok, sorry. I thought you were referring to an area code 🤦🏻♂️. I agree but there’s a lot of pressure not to build... which keeps prices as high as they are
The solution for the real estate inflation is to : 1. Limit the ownership of real estate to 1 property per family (husband + wife + below 18 children), additional properties should have very high annual taxation which forces the people to invest in other areas beside real estate. 2. Stop foreign investment in residential properties: if they want to invest, they can invest in building towers, large real estate developments, etc.. but not in leasing basements and rooms, this is terrible if not disgusting. 3. Strict laws for money laundering: many of the foreign buyers who increase 200 or 300k above asking price, this is a money laundry or political money and must stop, i'm not sure who is investigating the source of this money. Canada should support actual investment in industries, even for the internal consumption, we are a nation of consumers, we consume everything, and while we have the money and people, yet our leaders do not focus on internal industrial and economical development but on keeping Canada a large consumer market.
I agree about promoting investment in other industries. In terms of real estate, in order to see change there would have to be changes at all levels... not just the individual who owns multiple properties.. there were people who always owned multiple properties. This is systematic and involves much larger players. Banks, large corporations, land owners, development industry...ect. They all gain by the way the system is
ARTEMIS GOLD's run the last few days have been epic. I've been. Telling you all that Artemis Gold and Blue Lagoon Resources were going only up based of the individuals in charge of them.
Sounds like the real estate of year 1989 where every real estate broker thought the same thing to the moon lol...ppl don't understand how intrest rates work or how they go up or down...right now intrest rates are 1.5% wait until they go to 5% half the people will be on the street
Just let me know how a person with a 1million dollar loan realizes their monthly payment goes from $4000 a month @1.5% to $5800 a month at 5% or better yet to $9000 a month @ 10%
@@JJs_playground of course many will land and live in Ontario but Ontario is no longer the only destination for immigrants. They are considering other provinces as well.
Do you think the government will intervene to cool the housing market? Do you think it will disproportionately hurt younger buyers? Let me know in the comments!
While I get the fact that supply and demand is obviously what's driving the prices up, there is one factor that has to play a role in this. If the market doesn't balance itself somehow, something has to happen. There aren't enough jobs that pay for natives to afford rent or buy. What's going to happen?? 20% of the GTA going to be living on the streets or government housing?
Good point. So markets always have cycles and correct. However the long term trend will stay the same if the population continues to grow. How that’s paid for... I’m sure there’s people above my pay grade thinking of creative solutions.
Amazing when you compare Y-o-Y increase
Most definitely
Low interest rates, 1.2million new immigrants coming to Canada (over 3 years), and boomers not selling their homes and moving into old age homes for to fear of COVID, plus add that BoC said no interest rate increase in the next 3 years. And further more, more foreign investors flooding into Canada.
So when you take the above into consideration, don't expect any significant price drops for a while.
Exactly on all of your point. Housing to the moon. Leverage up and buy as much real estate u can because what u are buying is a government supported, low risk, high reward investment. Its the safest place to put money. Better than stocks, and of course better than garbage savings accounts or bonds. Real estate is the best investment going in Canada - and its GUARANTEED by the government. So max out the mortgage boys and get on the winning side
Well said and yes, that’s my prediction also. We could see a short term “shock” if the government does something funky, but like 2017, it didn’t last too long
@@rahzelwashington6847 not sure if you're being sarcastic, but over leveraging is not a good idea either.
@@JJs_playground are u kidding.. tell that to all the "over leveraged" people who had houses thru the recent covid boom
This is exactly what I see as well, the need for housing is coming from 2 steams, population growth, + rich needs to hedge against inflation. Do you see the high unemployment rate and rising interest rates will crash the housing market, I looked at the US in 1975 - 1980, high unemployment, and ultra high-interest rates, yet the housing still went up during that period. Are we in a similar environment?
I don’t think so. I don’t think we’ll ever see high interest rates like that again.
everyone has something to say
If we had 400K prices here in canada we would have many offers as well. 2Mil for a nice house in the GTA is just crazy ..........It gets to the point even with a good job you cant afford a home regardless of the interest rate ...We need a major correction...even if you buy at these crazy prices in 25 years you will own it and by that time the price will catch up
The point of that is if you have 120+ offer the house in no where near that value. It was probably 900k +
There are houses of 400K dollars in Rive-Sud of Montreal.
@@guliya0000 parla voi
Im single, I make good money as a OTR truck driver, i live on in apartment w a roommate but im 30 and getting this feeling it's now time for me to move to a place I'll own, the problem is i feel like I'll be missing on a good investment opportunity if i buy a house instead of a rental property but I know nothing about real estate and im concerned with the forthcoming inflation and economic crash so many economist talk about, especially considering these assholes at davos worls economic forum talking about great reset stuff
So if there’s inflation then hard assets like real estate are better places to put your money.
If you have any more specific question feel free to email me Derek: jeff@thevillageguru.com
We need to build the 413 to increase housing in GTA
Where’s the 413? Is it Canada?
@@thevillageguru yes, it would connect HWY 400 to 401 and 407. Could potentially lead to half a million new homes developed around it.
@@mahirdheendsa9282 ok, sorry. I thought you were referring to an area code 🤦🏻♂️. I agree but there’s a lot of pressure not to build... which keeps prices as high as they are
The solution for the real estate inflation is to :
1. Limit the ownership of real estate to 1 property per family (husband + wife + below 18 children), additional properties should have very high annual taxation which forces the people to invest in other areas beside real estate.
2. Stop foreign investment in residential properties: if they want to invest, they can invest in building towers, large real estate developments, etc.. but not in leasing basements and rooms, this is terrible if not disgusting.
3. Strict laws for money laundering: many of the foreign buyers who increase 200 or 300k above asking price, this is a money laundry or political money and must stop, i'm not sure who is investigating the source of this money.
Canada should support actual investment in industries, even for the internal consumption, we are a nation of consumers, we consume everything, and while we have the money and people, yet our leaders do not focus on internal industrial and economical development but on keeping Canada a large consumer market.
I agree about promoting investment in other industries. In terms of real estate, in order to see change there would have to be changes at all levels... not just the individual who owns multiple properties.. there were people who always owned multiple properties. This is systematic and involves much larger players. Banks, large corporations, land owners, development industry...ect. They all gain by the way the system is
ARTEMIS GOLD's run the last few days have been epic. I've been. Telling you all that Artemis Gold and Blue Lagoon Resources were going only up based of the individuals in charge of them.
Sounds like the real estate of year 1989 where every real estate broker thought the same thing to the moon lol...ppl don't understand how intrest rates work or how they go up or down...right now intrest rates are 1.5% wait until they go to 5% half the people will be on the street
While I somewhat agree, the market fundamentals, monetary policy’s, population and land use planning are completely different now than 30 years ago.
Just let me know how a person with a 1million dollar loan realizes their monthly payment goes from $4000 a month @1.5% to $5800 a month at 5% or better yet to $9000 a month @ 10%
@@aleksei7 how will companies Survive, malls stay in business, cars be sold or the government service debt payments at 10%?
Something to think about...its not like they haven't done that before....even went higher than 10%
Guru, entire Ontario is on fire, the market will crash for sure as many are leaving Ontario. Your Edmonton and other cities are on rise.
It doesn’t work that way
@@thevillageguru I hope you are right.
@@MR-eo9pp thanks for your comments, I appreciate them!!
@@MR-eo9pp but you're missing the 1.2million new immigrants (over 3 years, once we open the boarder) that will backfill the people leaving Ontario.
@@JJs_playground of course many will land and live in Ontario but Ontario is no longer the only destination for immigrants. They are considering other provinces as well.