The BOC is going to quickly run into problems as the overall economy is already heading in the dumper and the real estate sector seems to be still delusional in thinking rents and home prices are just waiting to rebound. The CAD is already being pressured downward because of the first 2 rate cuts, and now oil is testing it's 200 week moving average. If that breaks the CAD will be dropping more. This will be putting pressure on all of our import prices which pushes inflation. Back in the 90s, because GDI was very sick, as the BOC dropped rates, home prices kept rolling over. It seems the same thing is happening now. With such a soft market, I just don't see any incentive to buy. The market is wildly overpriced and people are sensing that a correction is finally in the works. If we actually see a real correction after 23 years of stupidity, it could easily be 25-30%. Yes, the whole spike during COVID should be wiped out. It was completely unwarranted.
Great update! 👍🏼 Turbulent for sure! Inventory can’t be absorbed if people can’t afford to buy .. sure hope they bring a lot of good doctors back here! We sure need them, and not only for helping out with the real estate market!!
My brother is a doctor. He and others he knows are talking about leaving Canada, there is less and less incentives to work as a doctor in Canada these days. And it's not just a federal thing, but provincial as well.
@@Jo-mf2vu This is another reason many ( not just doctors) are leaving Canada .. our health care system is awful! It was once something every Canadian bragged about .. now it’s becoming frightening! My cousins took their two kids and left Canada and said they wont return unless this gets fixed. .. wishing your brother the best but I sure hope he decides to stay!
I’m waiting for all the people who said rates were not going down for years to come or going to go up… waiting for the comments right here!! And just to add - rates will continue to drop!! Great video! Thanks
Thank you!! But you still have uneducated opinions all over UA-cam saying rates are going up? Only renters say that. They want rates to go up so prices come down but they do not see that higher rates affects everyone. Good and services, food, rent, purchasing a vehicle, credit card debt etc. wake up!!
Mortgage renewals skyrocket between now and 2027. Fixed rates are barely moving down. You have to be on a lot of hopium to believe market goes to the moon next year
TD said by mid to end of next year BOC rate should be 2.5. That makes sense. And I’ll be back here to watch the others say no… because no one can fathom lower rates??!! Fools
CAD/USD has many factors....the most important of which is in recessionary times, people pile into USD and so CAD goes down regardless, the 2nd most important is price of oil and when that drifts down, CAD goes down....... whatever Tiff says is like the 5th most important thing at best.
The BOC is going to quickly run into problems as the overall economy is already heading in the dumper and the real estate sector seems to be still delusional in thinking rents and home prices are just waiting to rebound. The CAD is already being pressured downward because of the first 2 rate cuts, and now oil is testing it's 200 week moving average. If that breaks the CAD will be dropping more. This will be putting pressure on all of our import prices which pushes inflation.
Back in the 90s, because GDI was very sick, as the BOC dropped rates, home prices kept rolling over. It seems the same thing is happening now.
With such a soft market, I just don't see any incentive to buy. The market is wildly overpriced and people are sensing that a correction is finally in the works. If we actually see a real correction after 23 years of stupidity, it could easily be 25-30%. Yes, the whole spike during COVID should be wiped out. It was completely unwarranted.
Great update! 👍🏼 Turbulent for sure! Inventory can’t be absorbed if people can’t afford to buy .. sure hope they bring a lot of good doctors back here! We sure need them, and not only for helping out with the real estate market!!
My brother is a doctor. He and others he knows are talking about leaving Canada, there is less and less incentives to work as a doctor in Canada these days. And it's not just a federal thing, but provincial as well.
@@Jo-mf2vu This is another reason many ( not just doctors) are leaving Canada .. our health care system is awful! It was once something every Canadian bragged about .. now it’s becoming frightening! My cousins took their two kids and left Canada and said they wont return unless this gets fixed. .. wishing your brother the best but I sure hope he decides to stay!
update? they all say the same thing
@@stephenfermoyle4578 lol ok you have a point
Yea, the qualifying rate is still rough with the stress test
I’m waiting for all the people who said rates were not going down for years to come or going to go up… waiting for the comments right here!! And just to add - rates will continue to drop!! Great video! Thanks
Those who said rates were going up were bullish. Real bears know poopoo hits the fan when rates drop. By the way fixed is staying elevated
we all knew they were going down!! DAH great video? sounds like all the rest of them
Youre welcome!
Thank you!! But you still have uneducated opinions all over UA-cam saying rates are going up? Only renters say that. They want rates to go up so prices come down but they do not see that higher rates affects everyone. Good and services, food, rent, purchasing a vehicle, credit card debt etc. wake up!!
One of your best updates! Thank you!
Thx
Very well explained!❤
Thank you! 🙂
still to high for housing but will probably help the Auto industry.
Nevertheless rates cut is a positive sign, cannot worry too much about
We need to slash to 3%
It may get there
Next spring inventory will finally get moving
moving down?
Mortgage renewals skyrocket between now and 2027. Fixed rates are barely moving down. You have to be on a lot of hopium to believe market goes to the moon next year
Too early to tell
TD said by mid to end of next year BOC rate should be 2.5. That makes sense. And I’ll be back here to watch the others say no… because no one can fathom lower rates??!! Fools
You pivot more than the Bank of Canada 😂
gotta be nimble lol
Canadian Dollar go to the Moon, anyone?
CAD/USD has many factors....the most important of which is in recessionary times, people pile into USD and so CAD goes down regardless, the 2nd most important is price of oil and when that drifts down, CAD goes down....... whatever Tiff says is like the 5th most important thing at best.