John takes a lot of flack but you can see that image truly is a good human being. Very scarce in his line of work. I enjoyed this video.
@john_pasalis
Жыл бұрын
Thanks Jeff!!! I appreciate it
@jeffotoole4509
Жыл бұрын
@@john_pasalis no problem dude. Realtors with a little class and humility are hard to come by. You certainly have that in spades. Keep up the good world. To put this in reference I am the biggest known Super real estate Brar out there and basically hate the thought of the real estate industry. So this is a big break through in my world. 1 normal realtor. 69,999 more to go. I have a dream.
@oliverb3801
Жыл бұрын
I think you are missing an important nuance which is that when you buy a pre-con with a small deposit, the builder is actually financing the project on your behalf over the build period and they have to be compensated for the carrying cost of that debt which is ultimately rolled into your purchase price. This is why it's entirely rational for presales to be priced above spot prices. Higher interest rates should also drive a wider spread between presale valuations and spot.
@CIUITIS
Жыл бұрын
Instructive, thank you for the resource and clear advice!
@john_pasalis
Жыл бұрын
Thanks for the feedback, glad you enjoyed it
@radosuites7058
Жыл бұрын
Funny how John refrains from even mentioning the idea that prices can actually go DOWN.
@Inquisitive9
Жыл бұрын
Another great show and sensible advice!! I can relate to the fact that Realtors are not experts in rentals laws, zoning or financing. Talk to the relevant professionals before you make a firm purchase. Some realtors are smart to refer you to the right professional and some would not even do that and may give you a misleading advice, not necessarily on purpose, but because they don't have the right information.
@mahanrazagh
Жыл бұрын
Really informative John! 👏
@john_pasalis
Жыл бұрын
Thanks Mahan!! Glad you found it helpful
@TOC359
Жыл бұрын
I CANNOT see ANY of this ending well....Because i'm hearing these WAY HIGHER INTEREST RATES,.....ARE HERE TO STAY....!!
@intouchmortgages
Жыл бұрын
Very insightlful content. Always love the mortgage outlook. It is very likely that we could see some more inventory hit the market when the private mortgages renew or are not able to renew. Thanks!
@jeffotoole4509
Жыл бұрын
The psychology of the market has to be broken. We are waaaaay far from that yet. The rate increases will not be enough on its own. If the Bank of Canada sees this exuberant behavior still exits it will no chance drop rates to spark another mania. These rates are here for the long haul. The sooner the market breaks the sooner we get back to some kind of sustainability. When the market breaks look out.
@donm2067
Жыл бұрын
Been saying the same for years. People are so complacent with debt and leverage, trying to become a Warren buffet or Rich dad. When this finally goes, Canada is fvcked.
@luigit9321
Жыл бұрын
Nonsense. Rates are starting to flatten and will start to fall by Sept/Oct.
@CalCalCal6996
Жыл бұрын
@@luigit9321 Delusional
@jeffotoole4509
Жыл бұрын
@@CalCalCal6996 well if you consider a 5% fiver and a 6% variable coming down well then yes this is a relatively low rate for the past 100 years. I am a on with these rates this won’t stop my spending any.
@Matt.k864
Жыл бұрын
Why do Canadians pay so much for a house don’t people want to Enjoy life build savings maybe Retire Early
@mdte5421
Жыл бұрын
I hear you but in Canada as in most countries ( but I think especially in Canada) real estate has becoming a ticket to comfortable retirement . I work for a big four consulting firm and it seems contributing to RRSP has become a thing of the past.
@fokana1
Жыл бұрын
Have you seen rent prices
@richpickard1680
Жыл бұрын
People want to buy thinking their house will double in 4 years and they can use it as an atm machine
@quixomega
Жыл бұрын
@@mdte5421 Not anymore,, there is no headroom. Buyers are tapped out, "best case" is prices that trade sideways for years.
@ilikeshroomgals
Жыл бұрын
Anybody who overpays today will be above water in 5 yrs.
@Raygetto
Жыл бұрын
“Oh my” 😂
@henryyu2085
Жыл бұрын
the bank wont sue you,the developer will.
@luigit9321
Жыл бұрын
1300 per sq ft by Sq1. Lol. Why on earth would you pay such a premium when there’s significant land available in that area?
@gabriels538
Жыл бұрын
Whoever has debt, better also have money to pay it off if needed. It's coming my friends!
@johnnyboyvan
Жыл бұрын
People's greed is very tragic 😥 indeed. They will soon pay the Piper.
@dirtlump
Жыл бұрын
Real Estate RERL's in Canada had grown to ~15.2% of TOTAL Canadian GDP in 2022, even far higher within some 'problematic' regions Provincially. With the current downturn in Supply/Sales activity figures absolutely plummeting.... trend is now for that number to barely reach 5% of Canadian GDP in 2023. This as a 'standalone' single metric.... is a DECLINE in Canadian GDP of 9% all by itself, and suggestive of the Oxford Economics 'worst case' recession scenario and impacts for consumer spending/Real Estate valuations Would the Move Smartly commentators care to comment therein on these now almost assured GDP impacts... and potential defensive positions for Home Owners ?
@treblecharged
Жыл бұрын
Pony up for a better internet connection. Looks like you're on the ISS
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