Realtors are partially to blame for inflated home prices. Honestly, they are one of the most hated people in the country right now. You should also talk about the mortgage renewal cliff thats coming and the amount of money banks have kept on the side to deal with defaults. Please focus on providing value to your clients based on your actual role and leave the financial advice to professionals. You do not have a crystal ball and nor enough data to predict the future. Thanks 🙏
I thought it was Trudeau 😊 who was the most hated person! I guess I was wrong. I do not have a crystal ball I never said I do and yes nobody knows what will happen. However, I have seen and helped many clients bought homes in both markets and I am speaking from my experience as a professional who is in the business and I do have the data to show and support that which I talk about in my video. Future is “predicted” through looking at the past market trends. Also, mortgages are not my area of expertise so I Will not talk about them. Do you have experience in the real estate market do you help people buy and sell homes? Sitting behind the computer being an online troll becomes so easy for anyone to just say whatever they want too. Do better with your time!
@@livinglocalwithfaryal I said one of the most hated people not the most hated person, there is a difference. Iam not a troll but iam tired of seeing too many realtors putting themselves and their sales in front of their clients interests. Future is not based solely on past trends but also on present circumstances and data. Based on your analogy, house prices should have gone even more higher after feb 2022 , but infact they fell big time. You are stating that house prices will go up in near future, if your client takes up your advice and buy a house and inoccurs huge financial loses tomorrow, will you compensate him/her for that ? Do you have the future rate cut schedule from bank of canada ? or impact of low productivity in near future on canadian jobs and economic health ? Do you have data to show how many people are in negative amortization situation or will be putting their houses on sale because they will qualify to renew their mortgage ? Its not realtors job to predict future or use FOMO to entice their customers to buy something under pressure or misguidance. I understand that as a realtor sales is your bread and butter but please dont provide wrong advice to your potential clients. People appreciate honesty.
@@gurpreetgill6761 maybe you should watch the full video before you comment. You are saying I have the power to entice people to make financial decisions they are not comfortable with? If that was the case I would be a billionaire by now. My analogy doesn’t say the prices have gone higher after Feb 2022. I actually talk about how once the interest rates went higher the market cooled down. Everyone can have an opinion and you have yours. Prices will most likely go higher when the interest rates go down unless we magically start building more homes a lot faster than maybe not! Our immigration levels are up and the demand for housing is Canada is high. Many Canadians want to own a home regardless of what the market is doing. Real estate market is highly influenced by the supply and demand. Housing supply is another big issue. I am already seeing multiple offers on many properties (would you have that kind of data and information?) The only thing that cooled down the market was the high interest rates. This video is catered towards home buyers who are in the market and can afford to buy homes. I deal with them everyday. If you don’t fall into that category please stop watching these videos and you won’t get bothered. You are asking me if I have rate cut schedule? Is that a joke? Even bank of Canada doesn’t have a schedule ready to go.interest rate going up and down is determined as we watch the market reacting to factors such as immigration, unemployment and inflation and of course our neighbours US! I know many people got into the market because borrowing money was cheap and didn’t factor in the risks or knowing their financial situation. Buying a home is a big financial responsibility and if you can’t take that on you shouldn’t get into the market. But hey that was their decision not mine. I am not people’s bank neither do I know their financials. I don’t make those decisions. But I do know my clients and their position. I make sure they are financially good to go before we even go out to see any homes. There is never any pressure or misguiding involved. Please don’t falsely accuse someone. .i very well know what my job is. i am not saying there aren’t any bad apples . However. there are bad and good people in any profession and real estate is not an exception. Unfortunately, many people have friends and family probably just like yourself who know nothing about the market but are always ready to give their advice!
@@livinglocalwithfaryal what i said is that you are indirectly influencing their decision by creating a FOMO situation where if they dont buy now , then they will loose hundereds of thousands of dollars and they will have to waive of inspections etc etc . Our situation right now is as bad as it was in US in 2008 and we dont even have a comparable economy. Our govt has already used the only tool in 2020 they have to counter recession, that is pumping economy with cheap money. The only reason why you are not seeing wave of distressed sale is because of banks allowing negative amortization . First of all, situation was completely different in 2020 up till march 2022 as government was pumping up the economy by printing money, business were doing good, assets inflated and appreciated and houseolds had savings from pandemic and some took our HELOC from their current inflated property to buy a second investment property or even third . Right now, that is not the case. BOC lowered the inetrest rate because our economy is weak, already in a recession and year over year inflation has come down. Not to mention our govt is having hard time servicing their debt. There are record amount of mortgages that upcoming for renewal and lot of them are negatively amortizing .Economic productivity is historically low, which means majority of the capital is either going towards servicing mortgage debt or is moving to US where productivity is higher instead of being invested in R&D in canada. Canadian houseolds are now loaded with debt . The rate cut is actually a bad news at a time when FEDS are not cutting rates, this will lead to CAD loosing its value against USD and will lead to jump in inflation as you will to pay more for same goods. BOC has tough choice to either sacrifice the currency or the housing market . If you are aware about hisory, then you know what happened in 1980s in canada and the housing market crash which took 25 years for canada to recover from . Not to mention, we have new capital gains tax now that will discourage investors. Honestly, house sigma has either equal or more data and trends then probably realtors have regarding house sales for past 20 years. Only reason why people need realtors is for showings or preparing offers. Mortgage agents look after finance and lawyers review contracts . Hence becoming a realtor is probably the most easiest thing in terms of qualification and exam. Not gaslighting but its the truth, thats why there are 70000 approx of them in GTA and everyone claims to be number 1 . I am not against your video or you marketing yourself by doing this but please dont try and create FOMO or panic. At the end of the day, you need new clients and people will only connect with you if you give them honest insights that will serve their interests.
Realtors are partially to blame for inflated home prices. Honestly, they are one of the most hated people in the country right now. You should also talk about the mortgage renewal cliff thats coming and the amount of money banks have kept on the side to deal with defaults. Please focus on providing value to your clients based on your actual role and leave the financial advice to professionals. You do not have a crystal ball and nor enough data to predict the future. Thanks 🙏
I thought it was Trudeau 😊 who was the most hated person! I guess I was wrong. I do not have a crystal ball I never said I do and yes nobody knows what will happen. However, I have seen and helped many clients bought homes in both markets and I am speaking from my experience as a professional who is in the business and I do have the data to show and support that which I talk about in my video. Future is “predicted” through looking at the past market trends. Also, mortgages are not my area of expertise so I Will not talk about them.
Do you have experience in the real estate market do you help people buy and sell homes? Sitting behind the computer being an online troll becomes so easy for anyone to just say whatever they want too. Do better with your time!
@@livinglocalwithfaryal I said one of the most hated people not the most hated person, there is a difference. Iam not a troll but iam tired of seeing too many realtors putting themselves and their sales in front of their clients interests. Future is not based solely on past trends but also on present circumstances and data. Based on your analogy, house prices should have gone even more higher after feb 2022 , but infact they fell big time. You are stating that house prices will go up in near future, if your client takes up your advice and buy a house and inoccurs huge financial loses tomorrow, will you compensate him/her for that ? Do you have the future rate cut schedule from bank of canada ? or impact of low productivity in near future on canadian jobs and economic health ? Do you have data to show how many people are in negative amortization situation or will be putting their houses on sale because they will qualify to renew their mortgage ?
Its not realtors job to predict future or use FOMO to entice their customers to buy something under pressure or misguidance. I understand that as a realtor sales is your bread and butter but please dont provide wrong advice to your potential clients. People appreciate honesty.
@@gurpreetgill6761 maybe you should watch the full video before you comment. You are saying I have the power to entice people to make financial decisions they are not comfortable with? If that was the case I would be a billionaire by now.
My analogy doesn’t say the prices have gone higher after Feb 2022. I actually talk about how once the interest rates went higher the market cooled down.
Everyone can have an opinion and you have yours. Prices will most likely go higher when the interest rates go down unless we magically start building more homes a lot faster than maybe not! Our immigration levels are up and the demand for housing is Canada is high. Many Canadians want to own a home regardless of what the market is doing. Real estate market is highly influenced by the supply and demand. Housing supply is another big issue. I am already seeing multiple offers on many properties (would you have that kind of data and information?) The only thing that cooled down the market was the high interest rates. This video is catered towards home buyers who are in the market and can afford to buy homes. I deal with them everyday. If you don’t fall into that category please stop watching these videos and you won’t get bothered.
You are asking me if I have rate cut schedule? Is that a joke? Even bank of Canada doesn’t have a schedule ready to go.interest rate going up and down is determined as we watch the market reacting to factors such as immigration, unemployment and inflation and of course our neighbours US!
I know many people got into the market because borrowing money was cheap and didn’t factor in the risks or knowing their financial situation. Buying a home is a big financial responsibility and if you can’t take that on you shouldn’t get into the market. But hey that was their decision not mine. I am not people’s bank neither do I know their financials. I don’t make those decisions.
But I do know my clients and their position. I make sure they are financially good to go before we even go out to see any homes. There is never any pressure or misguiding involved. Please don’t falsely accuse someone. .i very well know what my job is.
i am not saying there aren’t any bad apples . However. there are bad and good people in any profession and real estate is not an exception.
Unfortunately, many people have friends and family probably just like yourself who know nothing about the market but are always ready to give their advice!
@@livinglocalwithfaryal what i said is that you are indirectly influencing their decision by creating a FOMO situation where if they dont buy now , then they will loose hundereds of thousands of dollars and they will have to waive of inspections etc etc . Our situation right now is as bad as it was in US in 2008 and we dont even have a comparable economy. Our govt has already used the only tool in 2020 they have to counter recession, that is pumping economy with cheap money. The only reason why you are not seeing wave of distressed sale is because of banks allowing negative amortization .
First of all, situation was completely different in 2020 up till march 2022 as government was pumping up the economy by printing money, business were doing good, assets inflated and appreciated and houseolds had savings from pandemic and some took our HELOC from their current inflated property to buy a second investment property or even third . Right now, that is not the case. BOC lowered the inetrest rate because our economy is weak, already in a recession and year over year inflation has come down. Not to mention our govt is having hard time servicing their debt. There are record amount of mortgages that upcoming for renewal and lot of them are negatively amortizing .Economic productivity is historically low, which means majority of the capital is either going towards servicing mortgage debt or is moving to US where productivity is higher instead of being invested in R&D in canada. Canadian houseolds are now loaded with debt . The rate cut is actually a bad news at a time when FEDS are not cutting rates, this will lead to CAD loosing its value against USD and will lead to jump in inflation as you will to pay more for same goods. BOC has tough choice to either sacrifice the currency or the housing market . If you are aware about hisory, then you know what happened in 1980s in canada and the housing market crash which took 25 years for canada to recover from . Not to mention, we have new capital gains tax now that will discourage investors.
Honestly, house sigma has either equal or more data and trends then probably realtors have regarding house sales for past 20 years. Only reason why people need realtors is for showings or preparing offers. Mortgage agents look after finance and lawyers review contracts . Hence becoming a realtor is probably the most easiest thing in terms of qualification and exam. Not gaslighting but its the truth, thats why there are 70000 approx of them in GTA and everyone claims to be number 1 . I am not against your video or you marketing yourself by doing this but please dont try and create FOMO or panic. At the end of the day, you need new clients and people will only connect with you if you give them honest insights that will serve their interests.
what if you just don't buy a house ? Even cheaper.
To be honest, if that applies to you please go ahead. Many people rent and they are okay with that! Not that renting is any cheaper nowadays.
Exactly owning an asset is a biggest scam. We need communist revolution in this country
Buy, buy, buy. Buy f..king now. 😂😂😂
No let me correct you! Buy ONLY if you are ready to buy! Owning a home is a big financial commitment and if you can’t take that on. Please don’t!
There's a laugh.
Typical realtor advice.