Regulate home purchases to give priority to genuine buyers buying primary residence.
@jacobwiebe1460
5 ай бұрын
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.
@archimedes2261
5 ай бұрын
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.
@see-it-for-yourself
5 ай бұрын
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
@SlayR1101
5 ай бұрын
Welcome to the Calgary boom bust, going to be a doozy this go round.
@curtfromcanada6988
5 ай бұрын
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...
@digger9970
5 ай бұрын
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
@dman9416
5 ай бұрын
@@curtfromcanada6988no people are fleeing Eastern Canada
@ericstarchuk7590
5 ай бұрын
@@dman9416all the Ontario license plates I see out here tell me that you are incorrect
@c00per69
5 ай бұрын
Thank you for the update Jon. The best move governments can do for housing is nothing.
@everydaytwiceonsundays4498
5 ай бұрын
Also, on-site construction workers are paid well. Prefab construction workers are paid minimum salary.
@rachelk8368
5 ай бұрын
rents are coming down in calgary- i anticipate home prices will follow here
@dailydoseofcliftons8140
5 ай бұрын
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
@milhouse8166
5 ай бұрын
You want it to be unaffordable@@dailydoseofcliftons8140
@rachelk8368
5 ай бұрын
@@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.
@archimedes2261
5 ай бұрын
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.
@johnnylongstocking183
5 ай бұрын
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?
@jimbentein6337
5 ай бұрын
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.
@johnnylongstocking183
5 ай бұрын
@@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.
@jimbentein6337
5 ай бұрын
@@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.
@jimbentein6337
5 ай бұрын
Whoops. Both.
@johnnylongstocking183
5 ай бұрын
@@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.
@MBern-pg7ro
5 ай бұрын
hey Jon. would you be able to find/ include data for North Bay? Realtors around here still have their heads in the clouds. thanks
@parkerbohnn
5 ай бұрын
Everything in Markham, Stouffville, Richmond Hill and Unionville is selling above list with bully bids back.
@sdairltd.8043
5 ай бұрын
9:50
@Fedzy
5 ай бұрын
Your channel is awesome please keep up the great content
@ericzimmer
5 ай бұрын
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.
@andrecancol
5 ай бұрын
Do you think is worth to pay more than asking price?
@archimedes2261
5 ай бұрын
Pretty bad in the long run, they're turning Calgary into next Vancouver and Toronto soon average 3 bedrooms will costs $1 million.
@MustDoCanada
2 ай бұрын
Same thing happened in 2007 and 2015, right before a 30% drop. I'd be careful in YYC
@tedebayer1
5 ай бұрын
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.
@zyepher1
5 ай бұрын
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
@DineshPatel-uf8jf
5 ай бұрын
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.
@zyepher1
5 ай бұрын
@@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
@donm2067
5 ай бұрын
In going to add to the chorus. Prefab is usually low quality in every metric.
@digger9970
5 ай бұрын
Hell of a lot better than a tent. This country was built on atco trailers
@donm2067
5 ай бұрын
@@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.
@archimedes2261
5 ай бұрын
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.
@archimedes2261
5 ай бұрын
@@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?? 😆😆
@donm2067
5 ай бұрын
@@archimedes2261 so if I say they are worse than that....
@TurboMath
5 ай бұрын
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
@pepperfish_
5 ай бұрын
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.
@showdown66
5 ай бұрын
That is the least of the causes. Mass immigration, blind bidding, foreign investors, …..
@planet-karma
5 ай бұрын
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.
@pepperfish_
5 ай бұрын
@@planet-karma sorry I meant theoretically not enough workers if they are usiing PREFABS to facilitate faster growth. However what is the average age?
@mikebowers7719
5 ай бұрын
@@planet-karma TELL JT TO SHUT THE DAMN DOOR,WERE FULL!!!!
@TT-fq7pl
5 ай бұрын
@@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?
@fawzi6477
5 ай бұрын
You should include Dufferin County and Orangeville as well.
@alsmart7737
5 ай бұрын
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!
@dee1251
5 ай бұрын
Good point regarding the prefab homes
@jason19872011
5 ай бұрын
The recipe looks very delicious.
@fatimaumar6762
5 ай бұрын
Thanks for sharing Sir….Stay blessed!
@markc6571
5 ай бұрын
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
@G_Ellis606
5 ай бұрын
Same story...no inventory and 90% coming onto market is old dumpy homes nobody wants
@cameronoswald4796
5 ай бұрын
Why is there no data from Manitoba ever. Do they not share data?
@johnnylongstocking183
5 ай бұрын
It's all available. Other channels have published Manitoba data. Jon is just too lazy to get it.
@jonnyb2532
5 ай бұрын
XLNT! Thanks for this, Jon.
@chesspain6704
5 ай бұрын
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
@cyberblock2271
5 ай бұрын
I bought a fixer upper in tiny for only 200k, ppl are starting to unload
@chesspain6704
5 ай бұрын
@@cyberblock2271 that is awesome!
@fredhooshi4294
5 ай бұрын
one or two monthes could not be basis for general trend estimation
@MangoFlamingo
5 ай бұрын
Why condo in GTA don't have the sqft straight out and easy to read
@RedFlamingoTV
5 ай бұрын
hello brother
@MangoFlamingo
5 ай бұрын
@@RedFlamingoTV I was first tho
@salmonfishingaddict
5 ай бұрын
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. : )
@johnnylongstocking183
5 ай бұрын
Jon only sees downward signs. He's got his narrative to push.
@archimedes2261
5 ай бұрын
@@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 😂😂
@johnnylongstocking183
5 ай бұрын
@@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.
@jasonf.573
5 ай бұрын
Great content . Appreciate the honesty, but there about to flush the market with a ton of cash! Assets are gonna skyrocket.
@iancormie9916
5 ай бұрын
An extra column showing % losses from peak might be useful. Thanks.
@AM-gf7zv
5 ай бұрын
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.
@ianjos5044
5 ай бұрын
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?
@veeo987
5 ай бұрын
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.
@dman9416
5 ай бұрын
Most buyers everywhere are financed
@maximusfuscus
5 ай бұрын
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.
@Stormshfter
5 ай бұрын
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.
@rjkrjk8344
5 ай бұрын
There's no jobs out there. 😮
@colebevans8939
5 ай бұрын
@@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.
@faisal-ca
5 ай бұрын
Here in Calgary, prices have been going up, and inventory is tight. Can't say much about other places.
@NavyMoo5e
5 ай бұрын
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.
@dylanthomas7443
5 ай бұрын
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.
@igor-Light111
5 ай бұрын
Thank you, Jon! Greetings from BC
@vamgi192
5 ай бұрын
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?
@davidkania3720
5 ай бұрын
John is becoming a celebrity. Love it brother I've been watching for a while and I'm glad to see your channel grow 🙌
@JS-jh4cy
5 ай бұрын
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
@stevensek7872
5 ай бұрын
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?
@yehornaumov5893
5 ай бұрын
I think Trudeau just making fun of Canada
@RyanLangmuir
5 ай бұрын
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
@Autonomous15
5 ай бұрын
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.
@ivannightly1919
5 ай бұрын
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.
@D4rkBl4de
5 ай бұрын
Prices need to come down. It's insanity, even in the maritimes. 60-70% increase in houses in 3-ish years is crazy. I think cutting rates will only drive inflation back up. Please, I just want my first home in New Brunswick. It hasn't even come down at all.
@margaretschwartzentruber3154
5 ай бұрын
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.
@pouetance
5 ай бұрын
Prefabs are already pretty common in Québec. They are not cheaper than a site built house.
@maggiemacaskill1037
5 ай бұрын
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.
@jmjm1992
4 ай бұрын
Major price drop is coming to Ontario and Vancouver .wait and see
@jamierose4088
5 ай бұрын
Almost there? I've been hearing that for 20 years.
@Al-McGregor
5 ай бұрын
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.
@cyberblock2271
5 ай бұрын
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
@carlleblanc1660
5 ай бұрын
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.
@wideback4553
5 ай бұрын
Prices going up man for houses.
@Relaxlifeisshort2
5 ай бұрын
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.
@vitaliebruma5886
5 ай бұрын
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
@johnnylongstocking183
5 ай бұрын
Jon needs to push a narrative which is why he uses whatever data looks the worst.
@marshferguson4737
5 ай бұрын
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.
@patriciabee4690
5 ай бұрын
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
@MustDoCanada
2 ай бұрын
@@patriciabee4690 Same thing in 2007. Oil is boom and bust. Don't buy high
@luiscardozo0000
5 ай бұрын
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
@Godsgraceish
5 ай бұрын
Where’s that?
@roberthodgins8856
5 ай бұрын
Jon could you do an episode on lease land homes.
@ep6424
5 ай бұрын
Prices going back up!
@cyberblock2271
5 ай бұрын
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
@johnnylongstocking183
5 ай бұрын
@@cyberblock2271 lol you must be drinking the same Kool-aid that Jon drinks. Prices dropping like a rock haha. Where?
@cyberblock2271
5 ай бұрын
@@johnnylongstocking183 Watch and learn kid
@johnnylongstocking183
5 ай бұрын
@@cyberblock2271 support your comment with facts otherwise you are just flapping your gums like a pretend internet wannabe real estate investor.
@cyberblock2271
5 ай бұрын
@@johnnylongstocking183 Good one pea-brain 😆
@JS-jh4cy
5 ай бұрын
Well if these modular homes people gave or loaned cheap money, I know people would buy
@Picklemedia
5 ай бұрын
@5:34 rate Cuts coming is "good news"? I thought you were different
@jonflynn
5 ай бұрын
It’s good because prices will be falling when that happens
@Picklemedia
5 ай бұрын
@@jonflynn so the increasingly lower rates for the last 20 years has resulted in lower home prices?
@Ruby_Duby-md5zh
5 ай бұрын
@@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
@Picklemedia
5 ай бұрын
@@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
@johnnylongstocking183
5 ай бұрын
@@jonflynn and if they are not does that mean your silly little recipe is useless?
@therealfeedmetal
5 ай бұрын
Imagine going to buy anything else at asking price and getting told no go higher 🙃 welcome to the housing market
@Chris-se3nc
5 ай бұрын
Will be short lived. Cuts coming July
@Aaron-v9z
5 ай бұрын
The housing affordability crisis is a result of Liberal fiscal policy, and by extension monetary policy, and much less to do with supply/demand. Too much easy credit means costs can be pushed higher in bidding wars where before the war would have been won or lost at a lower price point. Central banking should be abolished entirely imo.
@archimedes2261
5 ай бұрын
I would rather buy prefab or a newly constructed custom house on a pieces of land that's outside city limits and cheaper, over buying a hideous old Vynl siding and sawdust wood house costing $700k to a million or two million for an average 3 bedroom in a drab, treeless, and yardless neighborhoods, where most overpriced homes are located.
@azhar172q
5 ай бұрын
Trudu is responsible for the miserable high interest rates.
@andrewb5412
5 ай бұрын
Also no one wants to live in a prefab because they are often hideous. Were something that looks like the quest seems like it could be built modular but looks good.
@archimedes2261
5 ай бұрын
Definitely not more hideous than most of the ugly overpriced 15 year old Vynl siding and sawdust houses most homes are built with in Canada.
@charlied4486
5 ай бұрын
BOC should wait longer until US Fed is ready to cut or risk higher inflation by devaluation of Canadian dollar . Gas prices and many others items will go up if they cut.
@JS-jh4cy
5 ай бұрын
In bc don't buy, bc government tax the shit out of you when you buy an property
@JS-jh4cy
5 ай бұрын
It is called bc tax grab property
@dman9416
5 ай бұрын
Calgary is booming Niagara sucks
@grandmaG67
5 ай бұрын
Amazing ,how we survived it after all the hype, isn't it? 😂
@user-pn2ew8fe8i
5 ай бұрын
Prices are falling and renewals are at the high rates. All Trudeau is going to do as he has in the past is try to slow down the crash
@W1LLi4m_
5 ай бұрын
The recent uptick in unemployment might force the hand of the BoC earlier than many expect.
@W1LLi4m_
5 ай бұрын
@@bilko_4732 this isn’t the 70s.
@cyberblock2271
5 ай бұрын
In 2008 the housing market didn't crash until they were well into lowering rates cycle
@JohnLee-
5 ай бұрын
Can not see falling rate, inflation are still up food price are up . Guy turn down 7 dollar for tomato (6) , calgary are on fire data are wrong.
@johnf321
5 ай бұрын
Homes in general are very cheap build don't even mention condos everything is overpriced, quality very low.
@TT-fq7pl
5 ай бұрын
Yet no one ever talks about this. I see shoddy new homes going up and the asking price is a million (in Edmonton). Buyers will have nothing but home repair headaches with these places. I'd rather buy something small from 1940 that's at least well built out of quality materials.
@saga-pt9nd
5 ай бұрын
Hey. Quick question John: Do you own a property in Canada? If yes, why aren’t you selling so you can buy back much cheaper when the imminent price drop that you have been advocating for finally comes? Maybe, there is no evidence to support what you say, and that common sense says that if house prices go down as much as you say they would, that would result in banks and the whole country going bankrupt, and house prices would be people’s least worry? I am not thrilled with what is going on in Canada, real estate and otherwise, but at the same time don’t lie to myself and others by saying wishful thinking stuff, particularly in a dishonest manner. Again, if you own property, put your money where your mouth is, and stop click-baiting people who come here for information who are - rightly- frustrated with the madness and unfairness of real estate market in Canada.
@jonflynn
5 ай бұрын
I have no mortgage, why would I increase my monthly bills by over $2000 to be at the mercy of some greedy speculative landlord? I will be upgrading my property and putting my money where my mouth is when prices drop. There’s lots of evidence to support my theory. It’s all documented in previous videos. Hopefully this answers your snarky question
@saga-pt9nd
5 ай бұрын
Ok so you own a property. If you are so sure prices are falling dramatically very soon, why don’t you sell your property right now and buy back cheaper later? It is a very simple question Jon
@archimedes2261
5 ай бұрын
Canadians can no longer afford to be picky when it comes to housings prefab or not, most houses are built taller not larger with little to no spacing in addition to lower built matrial quality it's mostly sawdust and Vynl siding and drywall inside nothing too special for people to be lining up to be the next debt slaves by overpaying sometimes two million a house for average 3 bedroom, the option for ultra picky people specially talking down smaller adjacent towns to big cities or Prefabs and other cheaper makeshift options, is ofcourse homelessness, we do not have the type of productivity or higher paying jobs in enough quantities to remotely justify even $700k prices for homes Canada wide, it's time to humble ourselves start small build a better business focus economy over used expensive real estate deals 😆😆😆
@MustyBastard
5 ай бұрын
A home builder I worked for, for many years here in Edmonton just got executed along with his engineer at one of his construction sites yesterday. People are saying "higher for longer" who have no material relation to the industry, besides being a speculator, but people are actually being killed as a result of the BOC's decisions. Many families are starving and people are at the end of their ropes.
@mikebowers7719
5 ай бұрын
Rates are not high,5% is not high.Try 13% or 19% are high rates..
@MustyBastard
5 ай бұрын
@@mikebowers7719 you are not even comparing apples to apples. Asset values were totally different at that time. Many industries - especially where the product they are offering are high value, do not operate on 40 percent margins. They operate on 5-15% margins at most. Many industries would not even function on 13-19 percent interest rates. Go back to your game of solitaire boomer. Obviously economics isn't your strong point.
@markz1013
5 ай бұрын
So where would house prices be if the boc did not intervene! People would be even more f'd.
@MustyBastard
5 ай бұрын
@@markz1013 In the hipster doofus locations it will be. But there are places in Canada that have functioning real estate markets . Like Edmonton . Real estate has been flat here for 15 years, so has rent. You pay to live in desirable locations.
@TT-fq7pl
5 ай бұрын
@@MustyBastard Hipster doofus locations? You mean like Calgary and Canmore? And "hipster" hasn't been current for a decade, while "doofus" suggests that you're at least 75.
@GearsDemon
5 ай бұрын
Calgary upside seems limited now, Montreal seems to have some upside.
@amineaiffa
5 ай бұрын
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.
@archimedes2261
5 ай бұрын
Rates should not exist solely to satisfy investor's selfish desires to outprice legitimate buyers looking for a home to live in.
@Ghostmanriding
5 ай бұрын
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.
@lynb1022
5 ай бұрын
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.
@MJ-cg8vp
5 ай бұрын
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.
@johnnylongstocking183
5 ай бұрын
People shouldn't. Jon hasn't and won't take any responsibility for being wrong with his predictions year after year.
@rob4804
5 ай бұрын
Many thanks from Ottawa, Jon! Best Channel on YT for canadian housing data. Really like the market balance chart.
@joewang2630
5 ай бұрын
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!
@JS-jh4cy
5 ай бұрын
If FJT farted he thinks he doing something
@followHelgaK
5 ай бұрын
Great update, thanks for the details. It really puts things into perspective!
@jonflynn
5 ай бұрын
Thanks for watching!
@tanmani4040
5 ай бұрын
Would really appreciate if you added Winnipeg/Manitoba to your tracked markets!
@johnnylongstocking183
5 ай бұрын
It's availabe on other channels. Jon is just too lazy to get the data.
@wdavid3116
5 ай бұрын
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.
@digger9970
5 ай бұрын
Prefabbed is an excellent cost cutting method. Increased efficiency
@hjs9td
5 ай бұрын
The Liberal Trailer Park Boy episodes continue.
@chesspain6704
5 ай бұрын
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
@digger9970
5 ай бұрын
I live in Edmonton. I have been waiting 11 years for my prior to increase in value. Please stop generalizing how “bad” is or how we “must” have a crash, or houses must go down for affordability. I don’t give a dam if someone can’t afford my house. That’s a you problem. I could not afford when I was younger either. It’s hard. But I bought one and how somebody want me to lose my investment, lose all my retirement money because You can’t afford it?? Please stop the gloom and doom. House prices will be going up, up, up. There is no supply. And if there is a prefab house answer, people still complain because it’s not good enough for them. This guy Job will be proven very wrong. Oil is going up, commodities up, labour going up, houses prices up. It is virtually impossible for prices to drop significantly until 2028
@Clover12346
5 ай бұрын
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.
@baozhongmeng824
5 ай бұрын
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.
@dylanthomas7443
5 ай бұрын
Jon this prefab school of thought is quite a well used system in socialist countries, African and communist regimes. It will be a disgrace if we fall into that fate? What do you say?
@youstew99
5 ай бұрын
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.
@fullcountsports
5 ай бұрын
Just bought. Pray for me.
@johnnylongstocking183
5 ай бұрын
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.
@timshammm
5 ай бұрын
I really enjoyed the technical analysis, thanks Jon
@lynnmacleod5005
5 ай бұрын
We need a crash,,,,without it, we are stuck in the bull trap
Пікірлер: 241