Vancouver & Toronto Real Estate Market Update November 2023
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- Опубліковано 27 чер 2024
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Home sales in both Toronto and Vancouver fell well below long-term averages. For the first time this year, new listings are finally rising, putting downward pressure on prices. Fixed-rate mortgages are still on the climb. Variable-rate mortgages are finding life again. We also discuss recent government policy changes to address housing supply.
00:00 Intro
02:02 Vancouver Market Update
04:58 Toronto Market Update
13:09 What’s Next for Interest Rates and the Market
21:12 Major Pre-Construction Market Trouble in Toronto?
29:20 Minister Marc Miller Tables Latest Canada Immigration Targets Amidst Housing Crisis
34:35 Landmark U.S. Ruling Against Agent Commissions - What Does it Mean for Canada?
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The Loonie Hour is live in Toronto on November 30th! Join us for drinks, appetizers, a live podcast, and Q&A session!
Tickets for the live event in Toronto: www.eventbrite.com/e/the-loonie-hour-live-in-toronto-tickets-742892650917?aff=oddtdtcreator
The prices haven't even come close to correcting properly. Home prices have diverged so far from wages over the last 15 yrs, they are still 25-30% out of whack. Prices haven't even closed that crazy spike during the pandemic years. The only thing keeping home prices from correcting are the main banks. They've been letting people off the hook. There's no way any of these "investors" should be let off the hook. Let them pay their mortgages fully. In the trading world it's called getting a margin call.
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
Given the current market situation and the precarious state of the economy, I would recommend refraining from investing in stocks for a while or, alternatively, seeking guidance from a financial advisor. However, keeping a portion of your wealth in gold remains a wise choice.
I completely agree. I have been consistent with my profit regardless of the market conditions. I got into the market early in 2019 and the constant downtrends and losses discouraged me, so I sold off. I got back in December 2020 and this time with guidance from an investment adviser who was recommended by a colleague
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Margaret Johnson Arndt for the last five years or so, and her returns have been pretty much amazing.
Thank you for the helpful tip. it was easy to find your coach. Before scheduling a phone call with her, I made sure to do my due diligence. Her résumé looks impressive, and she appears to be highly proficient in her field.
I am truly impressed by the video you shared and I want to express my gratitude for breaking it down into digestible pieces. Even though the current economic climate is facing a downturn, I am ecstatic to share that I have been experiencing significant financial gains. To be more specific, my initial investment of $9,000 has resulted in returns of $60,000 every 21 days. This news brings me immense joy and I am grateful for the opportunity to share it with you.
This must be an investment with *Ms* lauren
Wow I'm just shocked you mentioned expert Lauren thought I'm the only one trading with her
How to start? How much money needed?
I use a trading platform with help from Mrs. Lauren, my long-time professional assistant, and have profited greatly from her trading strategies.
How did you make so much in the crypto market? I've heard about Mrs. Lauren's genius mind.
I recently talked with a man who moved to Toronto with His wife and three children, he said rental was impossible and the only person ready to rent to his family wanted $6,000 a month. He then knew he had to use his life savings and buy a house now under $800,000 mortgage at 6.5%, so he is in the fight of his life for his Family and it's a shame to Toronto not family friendly at all!
Quality of life outside the gta and Vancouver is so much better. Not stressed about those ridiculous prices and markets thank goodness. Amazing people want to live there.
Hows the farmland prices these days?
I think that if the overnight rate gets below 5% the housing market will go full fomo like it did in 2022.
Rates will be 2.5 to 3.5 in 18 months
What do you think the new rezoning near transit and bus exchanges will do. In my opinion, there is going to be so much land available to developers all at once that the vast majority of land will just sit. Meanwhile people who have detached houses near transit or bus exchanges will see their property tax skyrocket to upwards of 20k a year or more because they are sitting on high density zoning now. They won't be able to afford the taxes and they won't be able to sell their house unless they are selling to a developer, because no regular person will be able to afford to purchase the house with property taxes that high. This is going to make the province much more unaffordable for a lot of people. Meanwhile we will have a trickle in supply of condos at best so it will not make the cost of real estate any cheaper. What is your thoughts on this?
COMPLETE NONSENSE - Investors leaving, ridiculous immigration targets, unemployment rising, banks laying off, inflation is STILL high (possibly even more so than declared), household debt ratio setting a new standard on a monthly basis, power of sale skyrocketing, land value plummeting, terrible government policy (no hope unless early election), 4 straight quarters of negative GDI, but more than anything FEAR. The fear stinks to high hell. Seller's ignorance mixed with moronic purchases all fueled by greedy, full-of-shit realtors will have an end result of a large price correction. Bear market... the bear went into hibernation months ago.
I agree. The seller should not have to pay the buyers realtor. Realtors are a scam. They are not needed these days anyways.
It's not the best time to buy, everything is uncertain and global recession will stay for very longtime. Global population growth curve will take massive dip and it will never recover raising kids extremally expensive and not easy task. Paying mortgage, rent, property tax, utilities extremally expensive, there is a massive trend on sustainable living soon people start living on their cars, RV, boats and sheds will turn into tiny home. I think major cities will turn into ghost town. If you planning to buy a home just wait for 3-5 years until the dust get settle. 🤔🤔😒😒
Curious flames hitting Edm too…..developers are watching and saying WTF?!? Security beefed up at every construction site in town.
"Precon" morphed into no more than a speculative type 'casino'.
I mean let's get REAL here shall we ?
WHAT praytel.... did anyone think 'deposits' made, sometimes on multiple units very clearly for no other reason than for future 're-assignment" entailed.... if not very simply a "Bet" ????
Steve "Egregious" Saretsky.
You will have the kind of market that will frustrate everyone: a flatish price market with low volume! Sellers will not be able to sell at their price while buyers, cognizant of the still high prices, await lower prices which never come! NADA FOR ALL!
Urmi is a great investigator akin to Sherlock Holmes both finding and asking burning questions that get to the bottom of some strange things happening in Toronto developments!
An ideal real estate agent shouldn't be affected by prices going down. They should be unbiased.
Expect birth rate continue to decline, public transit is the biggest killer in fertility rate. No one wants to suffer rush hour and be irresponsible enough to bring another human being to suffer. This is a sliply slope Canada will never recover from.
Interesting take. Never heard that before
Canada has the LOWEST housing stock in the G7...next year interest will drop again due to a slowing economy and house prices will start to go UP again...throw in roughly 1 million immigrants that come yearly to Canada...it's the old supply and demand rule...
Prices aren't down CAUSE they're NOT SELLING.. who are these people?? Only Steve got it right..
Immigration is a driver of HOUSING need..... but NOT supportive of "valuations"....
especially when those valuations have been inflated beyond macro economic/median income fundamentals by unprecedented LOW interest rate policy.
Very simply because those onflated BUBBLE valuations are supported by FINANCIAL conditions.... Full Stop !
When FINANCIAL conditions change as they have..... no amount of 'immigration' can change the demand fundamental supportive of bloated "valuations" unless those immigrants are wealthy and 'immune' to the prevailing FINANCIAL conditions.....
which Canada's revised 1.02 Million new immigrants 87% of which declared less than #20K in assets with a further 7% less than $40K.... GOOG LUCK !
Rate cuts. Cute.
In 4 months they should be
If we don’t see a meaningful correction and instead see prices go sideways for a decade like in the 90s, then it feels like home ownership will forever be out of reach for the millennials, zoomers, and future generations without a boost from their family or some extreme risk-taking. It’s not even the principle/down payment that is the issue right now, it’s the monthly payment and being able to pay down a meaningful amount of principle per. For myself, a single income individual with a pretty meh salary, I think the only affordable approach would be buy a single family, split the house, and rent out part of it. Either that or inherit a property and pay probate.
Hahaha. We have less water in Toronto. People are more fired up in Toronto.
Most people’s IQ are in lockstep with market emotions. One day your realtor will give the greatest advice in the world, the next day they will tell you they have no clue. Same market.
You should delete the spam and scams that are posted on all your videos.
Watch REIT's. Things are about to fall off a cliff
The wisest thing that should be on everyone's mind currently
should be to invest in different streams of income that don't
depend on the government. Especially with the current economic
crisis around the world.. This is still a good time to invest in gold,
silver, and digital currencies (BTC, ETH.)
It's no longer a story that the world is experiencing a global
economic downturn, I'm so happy that I've been receiving
$50,000 from my $15,000 investment every 28 days
How? Am a newbie in crypto investment, please can guide me on how you made it through.
The crypto market is highly profitable with an expert broker just like Mrs Tammie Renee. I got recommended to her and since then my financial life has been a success
Wow, I'm just shocked you mentioned and recommended Expert Mrs Tammie Renee trading services, i thought people don't know her. She's really awesome
Despite the economic downturn, I'm so happy. I have been earning
60,000 returns from my 7,000 investment every 14days.
John looks like he needs some toothpicks for his eyes 👀…
Yeah and a porkchop bone to comb his hair with
Больные ёп! 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 Не Стивен, а баджет фирст!
JEEEEEEEEEEEZUZ can you say “i mean” and “you know” even more times???? Omfg every other word from the toronto guy is “i mean”…. If he didn’t say it at least 200 times i’ll print off the transcript of the show and eat it!
Not sure these guys sell a lot of pre con but selling re sale is way better commission speaking.
Typical comm on condos is 4%, we will be lucky to get 50% of that within 6-12 months not including the time period spent hounding the builder to pay the one trade they can legally stiff with no repercussions. The other 50% we get on closing and that’s again not including the time taken to chase the builder for payment & providing the building actually gets built after 4-5 years of delay.
Low rise is worse, they only pay 2%
Re sale, sell a house get your 2.5 in 30-90 days directly from the lawyers adjusted from the stamens of adjustments.
Please educate lol
Neither of us focus on pre con. Although Pre con often pays slightly more.
@@saretskyok well In the video you guys make it sound like pre con is commission heaven… hopefully my explanation cleared that uo