Major Technical Indicators Signalling Price Drops Coming. 2024 Canadian Real Estate Market.
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- Опубліковано 8 кві 2024
- Prefab homes will cost even more than traditional on site constructed homes, it's just another political game. I go over market data and statistics from across Canada including all major regions including; Victoria, Okanagan, Fraser Valley, Vancouver, Calgary, Edmonton, Saskatchewan, Toronto, GTA, Hamilton, London, Niagara, Ottawa and other Ontario locations, Montreal, Quebec, and all of the east coast including New Brunswick, Nova Scotia, and Newfoundland. Lastly I update my home Buyer's recipe. Enjoy
Regulate home purchases to give priority to genuine buyers buying primary residence.
Everyone should remember these boom days in hot real estate markets. Notice how investors aren't complaining when they are making a ton of money. It's only when the market implodes on them Ocean Gate style that they suddenly will show up on TV crying about rates, how banks and builders are not helping them. When they don't get what they want, they'll just rage quit and burn it down.
Rates should not exist solely to satisfy investor's selfish desires to outprice legitimate buyers looking for a home to live in.
The only place prefab makes sense is in ultra remote locations. They can build it in their facilities, then haul it to the site and install it to the foundation therefore saving costs. This far that’s it.
They make sense when average homes are too overpriced and jobs are few, Canadians can no longer afford to be picky when the other options is going homeless.
Thank you for the update Jon. The best move governments can do for housing is nothing.
Many thanks from Ottawa, Jon! Best Channel on YT for canadian housing data. Really like the market balance chart.
Also, on-site construction workers are paid well. Prefab construction workers are paid minimum salary.
Thanks for sharing Sir….Stay blessed!
Thanks for the data breakdown!
Thank you for the update. Great work good sir. The only thing I didnt see, was information on the Oshawa/Durham/Clarington areas of Ontario
Great update, thanks for the details. It really puts things into perspective!
Thanks for watching!
The recipe looks very delicious.
Hey Jon, great video as always, gave the thumbs up. Would be really nice if you could include Peterborough in your stats like you used to. Would really appreciate that!
Thank you, Jon!
Greetings from BC
I really enjoyed the technical analysis, thanks Jon
XLNT! Thanks for this, Jon.
You have been posting your charts that are supposedly backed by data for two years and not a single one has been right. When are you going to realize that drawing lines on a chart doesn't predict the market?
You’ll have to convince the stock market technical traders of that. Technical analysis works. It isn’t 100 percent accurate but close. And it will work for analysis of the housing market. Jon will be proven right.
@@jimbentein6337 the stock market isn't the housing market. That's the point that you and Jon are both missing. Not a single one of Jon's predictions using so called technical analysis has been correct yet.
@@johnnylongstocking183 Yet. Actually, if you had followed the U.S. housing market collapse in 2007-2008, you would know bot technical and fundamental analysis were able to forecast what would happen. I’m a semi-retired journalist. In 2007 I was writing for a site called Daily Oil Bulletin (still around) and Oilweek (not around). I interviewed an analyst with one of the large U.S. banks. Calgary was booming. New high rise offices everywhere (we were at a downtown hotel). He said this will only continue because oil prices will increase a lot. I said: “No they won’t. Watch the U.S. housing market!” He was a bit insulted that a reporter would even have an opinion. But he had my email address. Two years later, after the U.S. housing (and stock markets) had collapsed, he sent me an email to tell me, effectively, that I had been right. Jon is right about the Canadian housing market. I don’t know exactly when, but the bubble will burst.
Whoops. Both.
@@jimbentein6337 let's see how this video and your comment age then. Jon's videos and predictions have aged very badly the past couple of years.
I live in Calgary and it's true. Prices for all types of properties keep going up here. I was looking at a new houses 15 km outside Calgary, within a month everything in the $600,000 range sold out. Now, similar houses are in the $630,000-$650,000 range. Same for condos, two months ago condos similar to mine were priced about $300,000, now the cheapest similar in my area is one for $315k and just 5 condos available with a price range of $320k - $350k
Welcome to the Calgary boom bust, going to be a doozy this go round.
This is a cyclical cycle happened back in 2012, housing rises in Ontario, people flee to Calgary, no Jobs in Calgary couple with an oil pullback, then these people sell at a loss and return to Ontario where they have their family support network. Exact same cycle lining up here. Again...
3 hours away in Edmonton prices for average home are 200,000 less than Calgary.
This goes to show that this is a demand problem. Right now everybody wants Calgary.
Sure, then pay up.
If you don’t want to pay up, move 3 hours
@@curtfromcanada6988no people are fleeing Eastern Canada
@@dman9416all the Ontario license plates I see out here tell me that you are incorrect
Your channel is awesome please keep up the great content
Great video!
rents are coming down in calgary- i anticipate home prices will follow here
Rents in basements coming down not a whole house. I doubt prices will come down. May stay flat. As long as it’s unaffordable in Ontario and bc Calgary home prices won’t come down
You want it to be unaffordable@@dailydoseofcliftons8140
@@dailydoseofcliftons8140 People won't come to Calgary if their rent is less than here. My sister and her husband pay less for their 2 bedroom condo in Kits then people do now moving to Calgary. I have done the math and plan to move to BC when I get a job as the utilites, insurance etc is more expensive here. The grass is not always greener and with no rent control I would not advise moving to Calgary unless you are cashing out of a house or property with lots of gains from OOP.
Soon Calgarians will flee to Ontario and BC because prices have gone down there, people must remember don't feed into the problem by insisting on living near work by 15-20 minutes drive rather move out and lower your house expectations buy something very cheap even if you have to renovate or build from scratch the final pricetag is much more digestible than these absurd prices, of 700k-1 million and 2 million, in an economy that's basically Mississippi in pay.
I just watched today first vedio Jon. It’s great analysis without emotions. Keep it up
You should include Dufferin County and Orangeville as well.
Good point regarding the prefab homes
Great and accurate content as always. What's going to happen for Vancouver Canada n your opinion? The bubble keeps on getting bigger here it seems. Also I recall you looking into finding genuine Realtors in greater Vancouver before. Did you find any reputable ones since?
hey Jon. would you be able to find/ include data for North Bay? Realtors around here still have their heads in the clouds.
thanks
Another excellent video
Jon, could you make a video comparing the greater Vancouver market with the demographic change there in the last 10 years or so? Foreign nationals are keeping RE prices high.
I was thinking the same thing re: the inflating lakeland properties. Assuming I'm understanding the region correctly (and I might not be), those are exempt from our laughable "foreign buyer ban". Canadians can say goodbye to ever being able to afford a modest vacation property too.
An extra column showing % losses from peak might be useful. Thanks.
I framed in the late 70s, and three of us from the time the foundation was in, could snap up a 1200 to 2000 sq ft complete to a shingled roof and doors and windows installed in about three weeks, that was completely with hand tools (hammer and nails /we would cheat on cuts with a very sharp chainsaw at times). Today ALL roof's are prefab and arrive on truck, and with power /air tools on site I don't know how they can't be done in half that time or less anyways. Prefabs always look cheaper material, and by the way they bounce down a highway in sections not sure I'd trust them structurally.
Brother just got in bidding war in Calgary, had to offer 50k over asking. with 3 others at the same. lost 2 bidding wars recently, with other people buying without conditions and people doing crazy bully offers. Calgary still going insane.
Do you think is worth to pay more than asking price?
Pretty bad in the long run, they're turning Calgary into next Vancouver and Toronto soon average 3 bedrooms will costs $1 million.
Jon just one question about the price per sq ft. What are the variables that sways the price from 250 to 450 $ per sq ft? Is it the architect cost, building materials? Does area of the home also factor in? Thank-you.
Everything in Markham, Stouffville, Richmond Hill and Unionville is selling above list with bully bids back.
9:50
no chance you are looking at recent solds in toronto. dont know what some of you guys are seeing but in Toronto for detatched houses are selling ridiculously high still. its a joke
Great content . Appreciate the honesty, but there about to flush the market with a ton of cash! Assets are gonna skyrocket.
We are trying to get into Oakville (Halton) and prices are only go up there since winter 2023. It looks like prices are going up since your chart shows MOM #s going up for all but a few locations but in the intro Jon you said prices are coming down so I was confused. Also we are down from peak but if you take the median home prices just before the rise (2020 Jan) and apply the CPI numbers since then prices are still about 10% higher then we probably would have been today if COVID never happened. e.g. Glenn Abbey, Oakville Median Price Jan 2020 was $1.4M, Peak $2.4M, Mar 2024 $1.9M, can this area down further???
Same story...no inventory and 90% coming onto market is old dumpy homes nobody wants
I did imported a pre fab modular home from USA. 2020 in cloyne Ontario. It was less expensive by 35% at that time but was not possible to get a bank mortgage.With my experience not working the hassle.Quality and maintenance was tuff.
Here in Calgary, prices have been going up, and inventory is tight. Can't say much about other places.
one or two monthes could not be basis for general trend estimation
Would really appreciate if you added Winnipeg/Manitoba to your tracked markets!
It's availabe on other channels. Jon is just too lazy to get the data.
Fascinating how expensive houses are. Improvements in production and engineering would think prices would fall continuously
Jon could you do an episode on lease land homes.
Jon love what you have been doing with your clips. I have a question, lately I have seen a twist in sales tactics by some agencies. They are offering packages that claim to offer additional levels of service. To me it just looks like they have a list of buyers or investors and for an additional fee 5 to 7% they will show your listing to these folks. Have you come across such a practice and is it ethical?
Nice video Jon. If you draw a neckline on the National Average Residential Price chart from Q1 2020 to Q4 2022 you will see a clear Head & Shoulders Top with a downside target of $400,000. That is very easily the most likely scenario for this housing crash because even after that happens Canada would still have some of the most overvalued real estate in the world. Caveat Emptor!
Prices going up man for houses.
As much as I agree with a lot of what you say, in the truly hot markets the presented data doesn’t really happen everywhere. Long branch and new Toronto are up 30% since end of q4
I agree. I live in long branch area and prices here keep rising even when gta prices dropping. It’s crazy. I’m paying 3000 plus all utilities for 2 bedroom condo townhouses. Thinking of buying 2 bedroom condo townhouse in long branch but they’re like 800k plus.
@@DineshPatel-uf8jfthe 50ft lots anywhere in long branch and new Toronto were selling between 1.070-1.1 and now they have been selling for 1.4-1.6 as of the last month. The most in demand parts of Ottawa, innisfill, Mississauga, Brampton, Oakville, and Toronto are all up MINIMUM 25% per pocket
The figure showing changes to Peak is based on MLS pricing but not the actual sales pricing. The data can be misleading, just to warn people.
How are they going to ship the prefab homes? EV trucks?
In going to add to the chorus. Prefab is usually low quality in every metric.
Hell of a lot better than a tent.
This country was built on atco trailers
@@digger9970 LOL! This country was built on tar paper shacks and soddys.
Just so you know building code has changed extensively, and you need to meet minimum requirements.
It's not like most of the drywall and Vynl siding houses made of mash woods framing are of any higher quality either at those prices of 700k a start.
@@digger9970exactly what quality is he talking about when most homes are built of literal cardboard hasn't he seen images of Tornadoes literally turning whole houses into Devil dust in seconds?? 😆😆
@@archimedes2261 so if I say they are worse than that....
Always have to thank you for telling like it is! Refreshing from a real estate agent. I've read rumours that the Federal budget next week will allow mortgages to increase to 30 years. If true, this may temporarily increase prices due to higher leverage availability. Assuming that they'll be no effort to "de-commoditize'" residential real estate, as I continually bark about, do you believe that this proven to fail scheme (from the mid-2000s) will push back the timeline of your "price recipe" charting?
I remember a video on YT where a guy bought a container home from China, I think.
It ended up costing the same because the biggest cost in building a home is actually all the labor for having wiring and plumbing done, and any detail-oriented task that requires a skilled human to do it.
The only way it MIGHT work, is if there would be economies of scale around it. So that you have a few factories producing most of the homes being built. I don't think it will work that way though. Going back to China example. If it was this easy to build homes, they'd have setup some companies to mass produce them and export them globally. So, there's definitely a bigger challenge than just building modular frames and stitching them together.
John is becoming a celebrity. Love it brother I've been watching for a while and I'm glad to see your channel grow 🙌
This is a result of having not enough trained construction workers. why are 85% of employed people in the service sector?. why have the policies not kept a steady flow of young craftsmen ready to build?. I think we all understand the the current prices of homes are high because of lack of supply and policy not build efficiency. and Prefabs... the cost and quality all depend on where they are built. next thing they are shipping houses from China taking more jobs from Canadians. typical.
That is the least of the causes. Mass immigration, blind bidding, foreign investors, …..
Not the case. We are building about 250,000 units per year. Even with more construction workers, there is no way to keep up with even the previous immigration levels or demand from investors. There is no way more construction workers can keep up with 1.2 million people coming here every year also given that Canada brings in a lot of high value individuals who will invest in real estate as if they are commodities.
@@planet-karma sorry I meant theoretically not enough workers if they are usiing PREFABS to facilitate faster growth. However what is the average age?
@@planet-karma TELL JT TO SHUT THE DAMN DOOR,WERE FULL!!!!
@@mikebowers7719 Yes, but full of old people getting older fast. Birth rate is very low. Capitalism requires a broad tax base (or so the experts say). Where are the working taxpayers going to come from?
One advantage I'm guessing is that it can be built all year round and not weather pending.
Prefab only works when they are doing large surveys and your building factory is in the same location as the survey because the units are built quickly. they are all the same basic design and the building crew assemble the buildings on an assembly line.
They look better than many of the overpriced eye sores in Vancouver and Toronto greater areas.
In Burnaby (next to Vancouver) BC, SFD prices still inching up. 33 foot building lots - $1.8M. 60 foot building lots. - $2.2M. All about 40% up since Covid. External money still at play.
Are they back laundering their money again?
The laundering has never stopped and fintrac or any other govt agencies that could easily source it won’t study it cause it wound be accessible through an FOI.
I don't think pre-fab homes are going to solve all the problems with housing by any stretch but I think you missed a number of important factors. One you just touched on was the speed of construction. pre-fab homes (and parts of homes like pre-fab walls,) have the potential to massively speed up build times. Additionally from a construction perspective labour in Canada is much more costly than materials. Pre-fab homes can be built in optimised fashions that can cut down on the amount of labour required and make labour more efficient (less time moving around a job site more time doing skilled work). This cuts costs and makes builds faster and helps to mitigate the shortage of skilled labour to build homes. I don't want to make it sound like I'm saying these things are revolutionary and the scale of these benefits depends on just how widespread this becomes. Additionally the resource logistics work themselves out if a pre-fab factory is able to reliably work at full capacity everything can be planned for and acquired from wholesalers, I mean you could even put the factory at a lumbermill if it made sense. Shipping larger volumes of material is also much more efficient. We're talking about going from artisan work to an assembly line the benefits *can* be very substantial.
Prefabbed is an excellent cost cutting method. Increased efficiency
I have heard rumblings that the Feds are going to extend amortization from 25years to 30years. Would be great to hear your thoughts. I’m concerned this would kick off house prices again.
It's another one of those nothing announcements that really doesnt make a difference.
OSFI is going to implement rules next year that don't allow mortgages over 4.5x income, so adding 5 years to the amms doesn't improve the math to qualify.
Those who do qualify will be able to opt for a lower payment on the 30 year.
Why condo in GTA don't have the sqft straight out and easy to read
hello brother
@@RedFlamingoTV I was first tho
I saw a house in Orillia for 350k. I still think that is grossly overpriced for that house but it's a sign that things may eventually become affordable again
I bought a fixer upper in tiny for only 200k, ppl are starting to unload
@@cyberblock2271 that is awesome!
There's the road transport issues, in bc many people want away from the crazy city, so these modular homes walls have to go on narrow curvy roads, therefore have to shutdown the highway likely at night to transport and lift the hydro electric wires up
0:10 Would "manufactured, prefab homes" require a Disclosure Statement upon resale? If so, your opinion on whether it affects their value.
I've seen, literally, a prefab delivered onto a foundation that the owner wanted to finish themselves. The chosen "contractor" knew nothing about them, couldn't read the French instructions and was was his usual, I know everything, self.
It was a bad scenario. To the point that only spray insulation filled mismatched gaps when matching the parts.
The roof comes folded down & so on.
Lots of expensive "MacGyver remedies" hidden under the siding.
Major price drop is coming to Ontario and Vancouver .wait and see
Prefabs are already pretty common in Québec. They are not cheaper than a site built house.
Why is there no data from Manitoba ever. Do they not share data?
It's all available. Other channels have published Manitoba data. Jon is just too lazy to get it.
How are higher prices signaling possible drops? I don’t get it. Calgary is the expensive freezer as of recent. People put up with the cold because of the price advantage but now it’s as expensive as any other major city.
Speculators are buying the new builds as the city grows outwards.
They want to cash in on the people leaving BC and Ontario.
It's the same thing that happened in Van and TO with immigration.
What makes Calgary more vulnerable to a crash is it's the only place that is building a good supply of new inventory.
If there is a bad recession and prices do fall in BC and Ontario, people will stop coming to Alberta and all of a sudden there is too much inventory on the market.
IMO it's the market with the biggest possibility of a crash in 4 or 5 years.
There's no jobs out there. 😮
@@rjkrjk8344yup. I’m getting into power engineering. Put in about 100 applications, did 5-6 interviews before I could even get my student job. If I’m lucky they’ll keep me on and I’ll be making 130-150k a year. Even at that income I can’t get a mortgage on an average home in Edmonton or Calgary anymore.
Prices are based on pure speculation and the slightest hiccup will send them all crashing because there isn’t enough work out here to support those kinds of prices.
Quebec will be interesting to follow next year. A lot of people crushed by inflation and a slowing down economy that boomed too fast. Most buyers in QC are financed average buyers and they're currently renewing at high rates. My plan is to buy my house in the Fall of 2025 in Quebec. Hopefully I can get a good deal, but now isn't a good time to buy.
Most buyers everywhere are financed
Absolutely it would cut time therefore cost. Rain or shine, it's done indoor. Less crew needed and less experienced crew needed. Just need to assemble onsite. Also quicker and smoother for inspector. Less dangerous on 2 storeys and up. Just nail the walls together once it's hauled up. Lumber to shop is same as to lumberyard. Then to site once done. Same as if builder and crew was to do it.
Housing in canada needs to drop 50% to be affordable again... that or 70% of jobs that are underpaid need to be mandated a 30-40% raise
Our companies need the ability to pay those wages by having an actual functioning economy that doesn't revolve around buying and selling real estate as the majority of out GDP.
Hey Jon. What’s your perspective on the smaller and traditionally more “affordable” locations in northern and northwestern Ontario?
Prices are continuing to soar despite the high interest and I don’t see a stop anytime soon. If houses are normally in the $3-600k range, depending on someone’s household income, that’s still relatively “affordable” payments, yet, try selling houses in a decade in these areas that are primarily blue collar working towns for $700k+.
I feel like even though prices are going up in the smaller centres and going down in the bigger centres, nature will always take its course and down the road when interest rates don’t go as low as the average person is expecting them to go, they will be stuck with an over valued home because of this real estate frenzy.
I just put an offer on a house that was listed at $600k, but needed at least $100k in updating from not being renovated since the late 70s. My realtor told me if I got the house for $500k and renovated I could sell it for $1,000,000 in 4 years. I laughed out loud and told him I disagree.
The town has to hold these prices accountable seeing as the boomers are about to start retiring in mass quantities. This situation is not helping up and coming generations.
It is a matter of demand and supply. Many Canadians want free lunches. Property is land+building, it costs a lot.
Calgary upside seems limited now, Montreal seems to have some upside.
My step brother is heading to Edmonton next month to buy a place (rents in Oakville) I tried to tell his dad about the prices and how they are at peak and can only go down soon.
I would not say that as oil prices continue to increase Edmonton will continue to grow. Check out the price of a barrel of oil and the forecast
Just bought. Pray for me.
Unless you are trying to day trade your house it doesn't matter. Enjoy your home and when it's time to move you make the move. Jon is a fearmongering agent trying to drum up sellers by scaring them into thinking the market crash is always just around the corner. If Jon actually believed the market was just about to crash he would have sold his own house, but he hasn't. He claimed about a year ago that he was going to sell his house then buy a bigger better one for a massive discount. Not a peep about it since.
Let me know when the prices drop by over 50%. Average home prices should be below 450K. That's where they need to be in comparison to the average median income.
This pattern can also be a reverse head & Shoulders forming. And the bear flag can be voided if prices continue up. These developing patterns have not formed and do not show a downward signal as of yet. It could still go either way. : )
Jon only sees downward signs. He's got his narrative to push.
@@johnnylongstocking183Consumers should also see John's downward trends or they will soon be sitting outside their overpriced homes begging for lose change for something to eat cause there's none in the fridge 😂😂
@@archimedes2261 or Jon will continue to be wrong like he's been for the past two years. Those that follow him will wonder in bewilderment why the market hasn't crashed back to 2018 prices like he keeps promising will happen. Those homeowners who make smart purchases will continue to enjoy those homes.
prefab homes can be built faster, there are some site savings and in general, they do have to be built very solid to move them. the downside is their resale value is often lower than a conventional home. many people don't like them so buyers drop.
I won't buy until well after the interest rates drop. It will take economy at least a year or more to bottom out after they start dropping rates
Almost there?
I've been hearing that for 20 years.
I think the main attraction of prefab homes is for areas where there's a lack of skill carpenters in the community that needs the housing. It's not really a revolution.
I have been working in modular construction for years as a designer, the price is between 2 and 3 times a regular home price, the reason why it is so expensive is that you have to double the structure, transportation of the material to the shop, build, envelop and bring to the site, moreover, most of the builder used to build kiosk and portable "classroom" (or similar) and jumped in this market without real knowledge of the construction, so no innovation.
We have new builds here in wasaga that were bought for 800k and are listing for lease at only $2200 per month. The market is dying fast lol
When a shack in Toronto goes for a million, a rate cut is not “a good thing”
Rate cuts coincide with falling prices
Lol price drops yeah in bad areas yes.
Here they come i can buy 2 more for 50 % off
Wow been hearing this for years.
This is why most people will be renters waitimg and waiting.
Wow maybe in Timmins on yes i agree.
in my area the prices drop by 25% in 2022 to 2023 and from that moment nobody put their houses for sale in almost 2 year theres was only 3 houses for sale in the whole area of the city
Where’s that?
I think Trudeau just making fun of Canada
Prices going back up!
It's dropping like a rock, ppl are starting to unload, many don't have a choice they're in default. I'm a real estate investor/flipper, this market will absolutely tank
@@cyberblock2271 lol you must be drinking the same Kool-aid that Jon drinks. Prices dropping like a rock haha. Where?
@@johnnylongstocking183 Watch and learn kid
@@cyberblock2271 support your comment with facts otherwise you are just flapping your gums like a pretend internet wannabe real estate investor.
@@johnnylongstocking183 Good one pea-brain 😆
In the Outaouais i am noticing A LOT of price reduction from 5% to 15%. It would say 2-4 listings out of my daily alerts (Waterfront,2+beds) are. I never used to see that prior to January 2024. Seems to be accelerating in April. I still see the odd clueless realtor trying to relist their listing higher now then it was 6 months ago....Go figure.
Amazing ,how we survived it after all the hype, isn't it? 😂
F you everyone interested in higher prices. Do you not have enough cushion? Why don't you go invest elsewhere, say I don't know, in VALUE producing things like business & innovation, and allow other people to live with stability?
My wife and I snowbird in Mazatlan, Mexico, which had the best solar eclipse views in North America. Obviously, we’re morons because we left it a week before the eclipse. The good news is, our friends there sent us lots of videos. Almost no clouds.
Well if these modular homes people gave or loaned cheap money, I know people would buy
Imagine going to buy anything else at asking price and getting told no go higher 🙃 welcome to the housing market
Interest rates will not go down because of excess government spending
Prices are NOT going down.
Northern Canada would not exemplify your commentary. You are assuming that labour costs are the same in both cases. Not to mention having control over a less costly foundation. Shipping costs are expensive but this is true of everything in the North. Building in a controlled environment leads to a consistent product.
Trudu is responsible for the miserable high interest rates.
@5:34 rate Cuts coming is "good news"? I thought you were different
It’s good because prices will be falling when that happens
@@jonflynn so the increasingly lower rates for the last 20 years has resulted in lower home prices?
@@Picklemediano, but it’s how cycles work. Central banks lower rates in hard economic times. The impact of high rates lags up to two years once rate cuts begin. People can’t afford to buy due to unemployment and tight lending. This is why home prices drop when rates drop. Sustained low rates is another matter entirely
@@Ruby_Duby-md5zh lowering interest rates will catch falling house prices, and in my opinion they need to go a long way to reach a reasonable income to housing ratio.
I see a house of cards and can kicking
@@jonflynn and if they are not does that mean your silly little recipe is useless?
It’s not corect to compare from peak because that peak was short and speculative due to low rates. It’s more accurate to do YOY growth
Jon needs to push a narrative which is why he uses whatever data looks the worst.
Will be short lived. Cuts coming July
Just looked at his videos. Jon has been bearish on house since 2020 while the house price soared 20-30% nationwide. I dont know why people take this person seriously.
People shouldn't. Jon hasn't and won't take any responsibility for being wrong with his predictions year after year.