The Truth Behind Canada's New Plan To Solve The Housing Crisis
ฝัง
- เผยแพร่เมื่อ 22 พ.ค. 2024
- Welcome back to the Sunday video! In this episode we are joined by Anthony Venuto from InTouch Mortgage Solutions to discuss Canada's latest housing plan that is aimed to solve the housing crisis.
If you'd like to discuss anything Real Estate related, book a call with Santo: calendly.com/teamsessa/phone
Anthony Venuto
intouchmortgagesolutions.com
Follow Team Sessa Real Estate on Social Media:
TikTok: @TeamSessa
Instagram - @teamsessa
Twitter - @TeamSessa
Website - Teamsessa.ca
Santo Sessa & Daniel Sessa
Re/Max Premier
(647)560-7778
santo@teamsessa.ca
*This video, nor any of the other videos on the Team Sessa Real Estate TH-cam channel, does not constitute legal or financial advice. This is strictly intended for educational and entertainment purposes only.
How are mom and pop investors not part of the problem? I was chatting with one of my clients the other day and he has several friends that bought 3,5 and one even has 8 homes, all bought with low interest rates. Now they are stuck because they are under water and can't sell. These are working class people so you can't tell me that that's not fraudulent and greedy.
Well you should be asking your friends how they managed to get approved! How much do they earn? When did they buy the properties and how much they had to put down. If you own 8 properties you’re not a small investor. Most banks today will not go over 5 homes. So, we should be going after the lenders that allow this fraud to happen if it did!
He mentioned it and yes he said they will be affected we are all going to be affected
Unfortunately they don't send people who commit heinous crimes such as organized crime to jail. Let alone jail people for mortgage fraud! We need to get tough.
Thank you Santo for having me! Great chat.
Canadian investors are screwed!!!!
'Throw the books at them' ? You have read the news about the heist of Gold Bars and $$ in Pearson Airport. The jail time for those criminals is limited to 5 years !!! My point, 'the book' is like a sheet of paper !!
What “I”wish would happen and what our current governments catch and release program is are two different things. Most reputable brokers and agents would love to see these people punished to the full letter of the law! They make the hard working and honest ones look bad!
What about MONEY LAUNDERING???
Nooooobody has been jailed?? Let's begin with who and with what is buying several dozen condo suites? Investigation of bidding wars, especially when several hundred thousand over???
There is no plan. Never was. The bond market is in control. It will dictate what happens to the housing market in Canada. When bond investors sell bonds as inflation rises, bond yields go up. That drives mortgage rates higher. The government can only watch or make things worse by increasing debts and deficits. Of course the governments solution is always to spend more and increase debt - that’s why the housing market is doomed, and why there is no plan. A viable plan means controlled spending and reduction of debt. Fat chance that happens.
Builders don’t want to build homes, rather, they want to make more money by building homes and sometimes it means raising prices.
Well they do need to build homes to make that money no? Shrinkflation - they will build units at the same price but at a smaller sqft.
👌
They should have low interest rates on new builds and 30 years amortization for new home buyers on it and then you see how the inventory sky rocket
That could also pour more fuel on the fire. Anytime you make things easier or cheaper you will see prices jump.
Great comments by you and your guest
Santo, I am not a tax expert, but I believe your comments regarding taxes and reporting income are a bit confusing and maybe some clarification is in order.
You say "we all want to pay as little taxes as possible, legally" but then after that, you also say "how much do I show (in my tax filing) and how much do I pay (in taxes)". These two are a bit contradictory.
I believe we are legally required to report EVERYTHING. So, there is no "how much do I show" - we have to show everything. Now, when we show everything, then there are many ways to lower our taxes, legally (cuz our system is designed by those who have money for those who have money - haha). So, show everything and then legally lower your tax bill as much as possible.
I think banks being able to verify one's income through CRA is a great thing and will have a huge impact on housing. I personally know ppl in Toronto who make less than $120K/year (pre-tax for a couple) and own a house worth over $1.5M (with a huge mortgage!). Money flowing from China to pay mortgage bills. Based on their income, they would have never qualified even with 2% rates.
Mortgage fraud is rampant, as the latest case with HSBC has shown.
Great show!!! You should bring back Anthony more often.
All three level of govenments working hard to keep the home prices inflated to help the real estate industry and the financial institutions. when a individual realize the capital gain they should pay the entity that help you to get the profit. In order to attract more trade people to build home , the real estate licence should be given only to people who worked in the trade job for more than 10 years or disable at work. War veteran also should be included.
I don’t think we should discriminate on who and who can’t and when. I think we need a reform on the system to make it more accountable to the clients. But bad apples ruin it for the good ones.
How will the Federal and investor meet eye to eye on housing crisis? Investor interest is to speculate and profiteering on housing crisis while Government want solution to housing crisis that will create more shelter for families that will pull the market price thereby wiping investors profits that treated housing as commodities of stocks to profit upon! More inventory means end of speculation means it is in the interest of the builders to freeze housing development to push the price up! The only way for federal to picque the interest of the developers to stretch the payment 30-40 to 50 years payment this time investor treated the housing not as commodities but as long term treasury bond. A sustainable profit for investor and average families being slave for 2 generations paying out mortgage!
These changes won’t help any Canadian. They are still making bad decisions.
Anthony, I will send you a package to jail man, take it easy
lol! I’m not one who is worried cause our dealings are above board. But I’m sure there are plenty of fraudsters that would love your care package. But thanks for your thoughts!
V b. I