Now houses will average $1.5M instead of 1. This was stupid. Instead of cutting regulations and building more homes to make houses cheaper, these fools just made everything more expensive. *This was an objectively bad policy*
@@DanPocketRocket could be! There's a pretty strong argument to be made that we're already in a recession. I think we probably need to see another 0.75-1% in rate cuts before we start to see any major turn in market activity & prices. So that could be anywhere from January to April. Unemployment numbers are also up though. So it's an interesting storm, that's for sure. All I can say is things always seem to happen a lot quicker and more drastically than I expect.
It really depends on your unique situation. It's definitely something I would consider more seriously now than 1 year ago. But it requires a more in-depth conversation with your mortgage professional to understand your future goals, risk tolerance, financial situation, etc. Historically, taking a variable has been the better option for 28 out of the last 30 years.
🎯 Interest rates and mortgage have nothing to do with real estate markets now. It's now the matter of 'recession' that Canada enters into. Fear of tomorrow unemployment, fear of tomorrow stock/finance market collapse, fear of tomorrow condo market collapse, etc. No one to buy anything. No one to invest into anything. Cash is the savior and king. Winter idle market season coming soon also. New condos to flood next year as well. Stronger buyer's market ahead to last for a long long time. No big price cuts, no sell.
Now houses will average $1.5M instead of 1. This was stupid. Instead of cutting regulations and building more homes to make houses cheaper, these fools just made everything more expensive.
*This was an objectively bad policy*
Incentivizing demand instead of increasing supply. Definitely not helping "affordability"
Where there's smoke there's fire! Let the games begin :)
What do you think will happen?
@@livinginthelowermainland Fomo buying frenzy before an epic recession. Just my 2 cents. How bout yourself?
@@DanPocketRocket could be! There's a pretty strong argument to be made that we're already in a recession. I think we probably need to see another 0.75-1% in rate cuts before we start to see any major turn in market activity & prices. So that could be anywhere from January to April. Unemployment numbers are also up though. So it's an interesting storm, that's for sure. All I can say is things always seem to happen a lot quicker and more drastically than I expect.
Do you recommend a variable mortgage rate?
It really depends on your unique situation. It's definitely something I would consider more seriously now than 1 year ago. But it requires a more in-depth conversation with your mortgage professional to understand your future goals, risk tolerance, financial situation, etc. Historically, taking a variable has been the better option for 28 out of the last 30 years.
Here's another video I made that might help you decide: ua-cam.com/video/NDGdVWutV_4/v-deo.html
🎯 Interest rates and mortgage have nothing to do with real estate markets now. It's now the matter of 'recession' that Canada enters into. Fear of tomorrow unemployment, fear of tomorrow stock/finance market collapse, fear of tomorrow condo market collapse, etc. No one to buy anything. No one to invest into anything. Cash is the savior and king. Winter idle market season coming soon also. New condos to flood next year as well. Stronger buyer's market ahead to last for a long long time. No big price cuts, no sell.
Can't live your life in fear or what if's....if you want to buy, buy....if you don't then don't.
So the future of the market is all based on fear? When and where would you suggest to invest your money if cash is the savior and king?
FUD?
How about we vote conservatives in and kick trudeau out. I like to start with that
Sounds like a good plan to me!