Inventory isn’t skyrocketing because sellers are hoarding it while they retreat into a fantasy world where their asset is still worth the absurd values of 6 months ago.
@mikeskirk
Жыл бұрын
Yeah, he says inventory grows then demand drops. Demand is down for two months, lets see where inventory is in two years
@tonyhawkification
Жыл бұрын
I bought 3 townhomes in kanata back in 2017. Purchase price was 324 grand each. They are know worth 700 grand each. If you didn’t see how Incompetent our government was that’s not my problem. The liberals policies were clearly going to lead to a massive jump in prices. People should have been paying attention when Justin got elected. For example I also purchased cannabis stores. Liberals will make you rich if you stay awake. The poor stays poor and the rich get richer.
@jimmybaggs5342
Жыл бұрын
@@tonyhawkification Is it your problem that future generations of Canadians will have a much worse quality of life without a drastic correction? Somehow I doubt you have considered this question, and simply look out for yourself. Like a parasite.
@islandbuoy4
Жыл бұрын
@@tonyhawkification you are delusional .. you THINK those townhomes are worth 700 grand each ... the 1990 real estate crash took 6 years for the prices to bottom out ... those townhomes will be worth 500 in a few years ... and your cannabis stores will close down due to the fact there is a proliferation of greed that rules the market ... but reality always bites back dude
@tonyhawkification
Жыл бұрын
@@islandbuoy4 I sold two of them in January of 2022. One for 679 and the other for 705. Who’s delusional?
@NietsdlogKram
Жыл бұрын
Rental rates in Ontario are sky high because the Provincial government removed all rent controls.
@BadBrad119
Жыл бұрын
That's happening in NS with heavy rent control, so evictions are the only way to raise rent
@NietsdlogKram
Жыл бұрын
@@BadBrad119 Ummm? That's antithetical to my point: Canadians can't afford to rent, let alone purchase, a home. Why? Because of unchecked greed. Period. What's the answer? Keep raising interest rates so property values continue to fall, and keep rent controls in place nationally. Remember: the corporation is a psychopath; it will sell you the rope with which to hang it.
@nickyfurlano8531
Жыл бұрын
I thought it was because homes are way overpriced.
@ricardomontoya5627
Жыл бұрын
If youre a recent home buyer, the odds are against you. Rate increases are expected going forward making home prices drop. Eventually people will have to decide are they going to be paying for a home at X when the value has dropped down to Y and the amount of principle being addressed is reduced. I can see a flood of housing coming to the market eventually or your lose your home to non-payment as the cost becomes exorbitant
@mitchreynolds9841
Жыл бұрын
Most of those people took 5 year fixed mortgages at a low rate. The ones who didnt have a lot of money down will be exposed. The ones who did, will not walk away. So how many really will have to sell?
@justinm3486
Жыл бұрын
Sellers are holding off for prices to go lower lol. That's what happens after a 10 year bull run. People are conditioned to believe things only go up, until they don't. Think we got the correction, wait till real estate actually corrects.
@parkerbohnn
Жыл бұрын
It's been 25 years since 1997 or 40 years since 1982.
@justinm3486
Жыл бұрын
@@parkerbohnn I look at ~10 year cycles. 1987 crash, 2000 crash, 2009 crash, now 2022 crash.
@parkerbohnn
Жыл бұрын
@@justinm3486 It didn't crash in 2009 in Canada just in America.
@parthppatel28
Жыл бұрын
love this. more and more people are understanding this
@justinm3486
Жыл бұрын
@@parkerbohnn lol...sure. maybe look at a chart before commenting.
@andrewmccoll1582
Жыл бұрын
This isn't the stock market man. Things don't get "priced in" until 6 months after they happen.
@johnnycroat
Жыл бұрын
So Interest Rates are going up. Yet Banks are only giving 1% interest. They should be giving savers higher interest rates
@Michael-uo4jj
Жыл бұрын
NGL high savings accounts today are basically negative cash when inflation crushes any rate they'll give you
@jsidhu1859
Жыл бұрын
Why sell it if you can rent it.
@WiseOwl_1408
Жыл бұрын
Not dealing with the headache of renters.
@jks3840
Жыл бұрын
Right
@nicholasg2887
Жыл бұрын
Please ask about the reassignment market, from what I've seen prices have fallen more dramatically than the current housing market and may be a good leading indicator of what's too come.
@islandbuoy4
Жыл бұрын
for those who do not know assignment sales are also common with speculative investors who buy pre-construction properties with no intention of closing on them. In these cases, the investors are banking on quick price appreciation and are eager to lock in a profit now, vs. waiting for the original closing date.
@lankak4361
Жыл бұрын
All you need is patience as a home owner.Thank you
@Slickpete83
Жыл бұрын
*GREAT, hahaha greedy get rich quick real estate investors will finally get screwed*
@zomgoose
Жыл бұрын
Some people are still stuck in the delusional phase. They will be caught in the bull trap.
@zacdrake3
Жыл бұрын
I always want to listen but the uhh uhh uhh from the host makes it very challenging.
@lvjuventus
Жыл бұрын
me too, hell if I know what was said...the word rising made the only sense to me....
@TOC359
Жыл бұрын
I heard....this rate hike has JUST CAUSED 30% of CANADIAN HOME-OWNERS TO DECLARE BANKRUPTCY....(lost their homes)....WHAT HAPPENED to THAT Report.......??
@parkerbohnn
Жыл бұрын
Brampton might end up a ghost city since so many of the mortgages were obtained by them lying about their income.😁
@TOC359
Жыл бұрын
@@parkerbohnn AND it won't JUST BE BRAMPTON.....many many OTHER Canadian Towns and Cities as well....!!
@parkerbohnn
Жыл бұрын
I remember the days of "under the power of sale" in Ontario and out west "as is where is".
@parkerbohnn
Жыл бұрын
@@TOC359 Ok add Milliken Mills and Mississauga in there.
@maxpayne7419
Жыл бұрын
Nonsense
@pegwilson5801
Жыл бұрын
Does the Financial Post also receive money from the Federal Government. Property still high and moving here. Corporations buying like crazy.
@adrianhdragon718
Жыл бұрын
Where are we now in 2023 ? Have we reached a trigger point ? Am already financially struggling & rent but am curious if in the coming days, weeks and months thousands of Canadians are at risk of losing their Homes to the Bank ?
@chevarie2008
Жыл бұрын
I'm so screwed come next yearwhen my times up when I go to renew.might sell and by a house trailer
@James-hm9on
Жыл бұрын
Blame the BOC and the nearly free money they have been handing out
@WiseOwl_1408
Жыл бұрын
Let's talk about something that has been spoken about 12x this year already.
@adobo6905
Жыл бұрын
I sold my property and sold my few stocks. GIC is the safest investment for a coming couple of years. Very risky markets.
@lvjuventus
Жыл бұрын
GIC? So basically you're crystallizing a future loss of purchasing power.
@adobo6905
Жыл бұрын
@@lvjuventus The world is in uncharted waters. Ukraine, NATO, and the USA fighting the Russian occupation of the Ukrainian territory. China and USA conflict regarding Taiwan. China threatening Taiwan. Turkey threatened Grecce regarding some islands in the Mediterranean. All governments are printing money. Skyrocketed Household debt with high-interest bank rates. My hope is with GIC I can partially cover some of the inflation rates safely.
@tonylee1639
Жыл бұрын
Totally agree. I'm on the same boat as you. Yes GIC gets eaten up by inflation but prefer this than negative equity in stocks and housing markets
@BadBrad119
Жыл бұрын
Inventory went down because moving would mean refinancing at the higher rates. Give it 3 to 5 years when all "fixed rates" start becoming variable rates
@khalidwaheed1350
Жыл бұрын
Dont worry my friend very soon there will be a lot of inventory in the market.Global Recession is coming. Real estate agents are not able to digest the fact that prices will come down to pre covid times. They keep on telling that immigrants and students are coming so prices will not go down in canada but new comers and students never buy home they look for rental acommodation only.
@jks3840
Жыл бұрын
Right assessment.
@islandbuoy4
Жыл бұрын
25% drop in prices? .... for those who recently purchased and put down a low down payment ... guess what? ... your mortgage amount already exceeds the value of your home ... on paper you have zero equity
@jacksilver8045
Жыл бұрын
So lets put it that way! First most clever guys bought overasking, now clever will buy overpriced! And regulars will buy what they worth later :))
@ougmass8704
Жыл бұрын
The interest rate and its effect on Canadians are an important power that Candians should not leave exclusively in the hands of officials who are not elected by Canadians. Or at least some political oversight needs to be present to mitigate the technocrates drive. This is political economy. Not just economy, accounting, and indexes. Those MBA graduates have spent much of their time studying statstics, accounting, averages, indexes etc. Just as an exemple. The BoC prefer to kill employment, investment in real goods and services, kill home equity of Canadians, upload borrowers' accounts of heavy financial burdens, kill cosumer's purchase power, and causing suffering for most Canadians, and bringuing the economy to the bottom and everyone and everything valuable with it. For what? For working hard to wait and see if somthing called 2% is going to show up.
@alessandroc47
Жыл бұрын
Yes, inflation is the greatest threat to the Canadian economy. It is entirely worth punishing overleveraged people for their bad financial decisions.
@NewYork0110J
Жыл бұрын
Inflation didnt just local phenomenon it is global right now. Till it dont get arrested in USA it gets difficult to stop when supply os going to be tight
@zomgoose
Жыл бұрын
40 years for the bubble to build up. They couldn't keep it going forever.
@ougmass8704
Жыл бұрын
@@zomgoose we need to find out why it was going on for 40 y. And who is responsible. This is important for devising solutions for the present and future situation. And also for assessing the competence and credibility and confidentiality in the our political and policy management actors, to prevent another similar 40 years.
@Prairieshutterbug64
Жыл бұрын
Do you think amateur landlords will start dumping their properties as the negative cash flow takes its toll?
@BadBrad119
Жыл бұрын
I was a tenant for someone that was getting pinched. They keep raising rent to fight the market but if rent demand plummets they will probably bankrupt even their personal home..
@dirtlump
Жыл бұрын
Far higher(+1%) rates coming far sooner by Q4..... and persisting far longer(2023/24) than most all are currently forecasting. IMO, nobody is accurately factoring in the currency debasement "based" COVID liquidity injections globally.... that are now a substantial driver to current appreciated asset bubble valuations ? Central Banks have NO choice but to act as aggressively as possible with rates.... the alternatives to not acting aggressively being far worse ?
@svc2461
Жыл бұрын
Sir are you going to back your market intelligence claims with some real numbers please.
@WiseOwl_1408
Жыл бұрын
Cringe
@parkerbohnn
Жыл бұрын
Great news for savers! I've got millions awaiting the peak of the interest rate cycle or 25 percent inflation whichever comes first.😁
@dirtlump
Жыл бұрын
BWAHAHAHA...... that's really is fairly comical ? because if you have millions and you have been "awaiting the peak of the interest rate cycle" ? methinks your problems may run far deeper than dreaming in type ?
@lvjuventus
Жыл бұрын
Saving in a time of rising interest rates? Given the fact that savings rates have not kept pace with rate hikes, it means that you are accepting a loss of purchasing power.
@parkerbohnn
Жыл бұрын
@@dirtlump I know interest rates and inflaiton will spike a lot higher in Canada once the midterm elections are over in America. They artificially bring down inflation before the midterms then it goes to the moon once the midterms are over.
@mitchreynolds9841
Жыл бұрын
Yeah you have 'millions' saved away while commenting on youtube videos. Right bud...
@parkerbohnn
Жыл бұрын
@@mitchreynolds9841 I've got millions in loose cash. A lot more at the very beginning of 2024. I hope interest rates don't collapse before then.
@silenceisbetrayal6431
Жыл бұрын
This Guy made millions last year off stupidity
@kqh123
Жыл бұрын
Billions
@kneebomb1163
Жыл бұрын
The only people benefiting from this are the ones who put a million cash down on a 799k house with no inspections lol… literally stopped Canadians from buying homes and opened the door to foreign buyers again. Well done bank of Canada 😂
@islandbuoy4
Жыл бұрын
sellers are now going to play catch-up to falling prices ... nothing new ... the same ole story/game plays itself out ... it is only the naive buyer/seller who is new to the same ole' game
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