Exactly. It's insane. Lots of dirty money entering Canada, as well. Lots of Nigerian human smuggler types buying up condos to hide their operations in too.
Lets call it what it is Chinese buyers if you ban them they use the student and family members to buy on behalf they go around the system. People born and raised here can't afford but we are letting dozens of Chinese eveyryear smh
The only difference now is that instead of the money going to the homeowner it lands in the lap of the Bank in the form of interest from your High mortgage rates.
-65% drop from the top is inevitable, housing price has gone up for 30 years. Prices need to recover for money to be reinvested in other sectors of the economy. Too many people have speculated in this sector instead of creating valuable businesses.
Yup, liquidate all the people thinking they figured out the free money glitch, its the only way we are gonna change the mindset of Canadian's. I doubt they will though, I smell one more 50bps out of Tiff before he throws in the towel and resumes QE/lowers rates.
There are old houses that are better built and made out of far better materials than current builds. They're gems. Old doesn't necessarily mean dilapidated. Sometimes it's better to do a make over when the bones are good.
My kids can't buy a home due to these absurd prices caused by lack of government regulation and BOC incompetence. So are they suppose to strap themselves with a 6, 7, 8 thousand dollar mortgage FU.
Just know 1 thing. The BOC rate is only 2.5%. Their target is 3.5-4%. CPI data just came in at 8.5%. This is nowhere near their 2% target. Real estate prices are not even close to the long term trend line which is down at 2018 price levels. Prices don't go up while int rates are increasing. The record low volume shows nobody is buying.
If prices don't drop like 80% I can't afford to buy a house. I don't understand this economy and I don't understand Canadians that buy so expensive houses.
Good point on this topic.< happy to watch other channel discussion on stock, crypto and other asset. New Investors are scared to start-up and the old investors are financially strained. my calculated opinion is that ,it is a good time to buy more of your high conviction stocks or crypto regardless of the current bear. Wealth is created during bear markets, not bull markets. I was able to flip my portfolio worth of 0.7 BTC to 5.2 btc by implementing Stacy Huth daily trading signals despite the state of the market.BASICALLY COPY TRADING..
Day trading has So much advantages as it beats the market, Mrs Stacy has been helping alot of people recover their losses from the crash, she is all we need right now.
I'm new to crypto and I must say the recent correction took me by surprise leading to a -70% loss of portfolio value. Will try and see how this works out..
I've always wanted to trade Crypto for a long time but the volatility in the price has been very confusing to me although I have watched a lot of UA-cam videos about it but I still find it hard to understand.
@@DavidLee-ms7dh The accuracy with which Stacy Huth predicts the market is just astounding and i hope one day i can become like her but before then, i am sticking to trading with her signals..
For the sake of there future young people should leave Toronto and Vancouver and move to a province were they can still at least buy a house or rent one cheaper…..
Could be another run in the market in late fall. Buyers have been waiting and if a significant portion starts to buy then it could send a buying signal to the rest and FOMO kicks in...again. We'll see though. There are a lot of wild cards.
Buying power of people is being taken it will get worse just look at the job report that came out yesterday lot of people lost there jobs. Expext more job loss and rising rate will affect the real estae as its a lagging indicator it will take time you will see more of thd impact as the month pass.
The UK is 40 times smaller than Canada but has nearly twice the population - that's why UK house prices won't fall by much, infact they'll probably keep rising as demand far outstrips supply.
From *extremely unaffordable* to only *unaffordable*
Should of banned all non-Canadian citizen buyers.
Exactly. It's insane. Lots of dirty money entering Canada, as well. Lots of Nigerian human smuggler types buying up condos to hide their operations in too.
Lets call it what it is Chinese buyers if you ban them they use the student and family members to buy on behalf they go around the system. People born and raised here can't afford but we are letting dozens of Chinese eveyryear smh
Justin already did that freedumber a two year ban on foreign ownership
@@bonbonvegabon Foreigners have been bypassing that so easily by purchasing through corporations. Very easy to do and setup.
The only difference now is that instead of the money going to the homeowner it lands in the lap of the Bank in the form of interest from your High mortgage rates.
As it should
You can easily refinance later when rates go down but if you overpay for a house then it is forever
@@m.b5777 nice try
-65% drop from the top is inevitable, housing price has gone up for 30 years. Prices need to recover for money to be reinvested in other sectors of the economy. Too many people have speculated in this sector instead of creating valuable businesses.
Yup, liquidate all the people thinking they figured out the free money glitch, its the only way we are gonna change the mindset of Canadian's. I doubt they will though, I smell one more 50bps out of Tiff before he throws in the towel and resumes QE/lowers rates.
Price has not been going up for 30 years. It went down throughout the 90s.
Not in vancouver
You live in fantasy land if you think a -65% drop is coming.
They want too much money for real estate anyway! Ridiculous!
The decline has just began. The Canadian Real Estate stinks like a rotten tomato 🍅
Oh so now it’s not 1.3 mill for a shack in Vancouver but 900 grand. 👍
Liberal cities, liberal policies, liberal results.
@@handzus19 best part of living in Toronto> No cons here, they cant afford it lol
Why do reporters feel the need to give their opinion?
Because journalism is no longer informative news but consists of opinionated news with dose of bias
Because they can't indoctrinate you otherwise.
Very expensive and old houses.
It's not a good deal.
Mostly it is location and land value make it expensive.
How old would be considered old and worth to stay away from?
There are old houses that are better built and made out of far better materials than current builds. They're gems. Old doesn't necessarily mean dilapidated. Sometimes it's better to do a make over when the bones are good.
My kids can't buy a home due to these absurd prices caused by lack of government regulation and BOC incompetence. So are they suppose to strap themselves with a 6, 7, 8 thousand dollar mortgage FU.
Just know 1 thing. The BOC rate is only 2.5%. Their target is 3.5-4%. CPI data just came in at 8.5%. This is nowhere near their 2% target. Real estate prices are not even close to the long term trend line which is down at 2018 price levels. Prices don't go up while int rates are increasing. The record low volume shows nobody is buying.
it's just a very minimal correction so far. it probably won't crash until interest rate hit double digit next year.
If prices don't drop like 80% I can't afford to buy a house. I don't understand this economy and I don't understand Canadians that buy so expensive houses.
Some materials and labour won't come down.
Soaring interest is an additional cost on housing.
"It's not okay." This says it all.
Actually who sales or buys homes at the stage of the economy less real
Some people have no choice but to sell.
its not the morgage rates, its the prices of houses,more then 4x what their worth,
And what about rentals?
Good point on this topic.< happy to watch other channel discussion on stock, crypto and other asset. New Investors are scared to start-up and the old investors are financially strained. my calculated opinion is that ,it is a good time to buy more of your high conviction stocks or crypto regardless of the current bear. Wealth is created during bear markets, not bull markets. I was able to flip my portfolio worth of 0.7 BTC to 5.2 btc by implementing Stacy Huth daily trading signals despite the state of the market.BASICALLY COPY TRADING..
Her telegram👉 (@coin_signal10)
Day trading has So much advantages as it beats the market, Mrs Stacy has been helping alot of people recover their losses from the crash, she is all we need right now.
I'm new to crypto and I must say the recent correction took me by surprise leading to a -70% loss of portfolio value. Will try and see how this works out..
I've always wanted to trade Crypto for a long time but the volatility in the price has been very confusing to me although I have watched a lot of UA-cam videos about it but I still find it hard to understand.
@@DavidLee-ms7dh The accuracy with which Stacy Huth predicts the market is just astounding and i hope one day i can become like her but before then, i am sticking to trading with her signals..
Inflation inflates everything especially housing
Zero interest in living anywhere near Toronto. Love me some dirt roads and elbow room👍
Good, less cons in this city is a good thing in my liberal city
@@bonbonvegabon That's ok, when the food shortage hits the conservative farmers will keep their food. Liberal cities can eat shoe leather
Fair coverage. Thought they were gunna blame Putin lol
Nothing about how start money laundering in Casinos and invest in Real-estate ?
🤔
Cristy Clark start taking?
No on buy untill end of November, you will get your dream home at 50% discount by then.
Dont buy dont buy they will keep declining
For the sake of there future young people should leave Toronto and Vancouver and move to a province were they can still at least buy a house or rent one cheaper…..
Timmies has some good lawyers, apparently.
Chinese drywall everywhere especially if it were installed in 2006
Could be another run in the market in late fall. Buyers have been waiting and if a significant portion starts to buy then it could send a buying signal to the rest and FOMO kicks in...again. We'll see though. There are a lot of wild cards.
Stop selling to Nigerian human smugglers. Do the right thing for your country. We're becoming a place where foreigners hide dirty money.
Not with rate going up in sept/oct and dec with high inflation and low unemployment still . There is no pivoting as many realtors are expecting.
Buying power of people is being taken it will get worse just look at the job report that came out yesterday lot of people lost there jobs. Expext more job loss and rising rate will affect the real estae as its a lagging indicator it will take time you will see more of thd impact as the month pass.
interest rates are going up, I highly doubt it will FOMO.
So I buy crypto n buy a house got it 👍
"Trending." Nice euphemism.
The UK is 40 times smaller than Canada but has nearly twice the population - that's why UK house prices won't fall by much, infact they'll probably keep rising as demand far outstrips supply.
Canada also builds the least but has the most immigrants. We have lots of demand.
Ha ha ha... your dollar is crashing like 1929
Monkeyballz trending up real estate trending down