People are still losing on Ontario cottage sales: Muskoka realtor
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- เผยแพร่เมื่อ 14 ต.ค. 2024
- It’s really a tale of two markets in Ontario cottage country, that’s according to John Fincham, Broker, Re/Max Parry Sound Muskoka Realty. He joined BNN Bloomberg to discuss the selloff happening in the Ontario cottage markets, and while the luxury market is telling a different story he says summertime might bring some compromise.
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Crazy to think under $3m isn’t part of the luxury market for cottages. Central bankers really screwed up the money supply.
$3M buys you nothing nice in the big 3 Muskoka lakes.
Nothing to do with the “money supply” or central banks - it’s simple supply and demand.
NEVER trust a Realtor for his forecast. Only use them for carrying out the buying and selling process properly. Their job is to only do the buying and selling process. THEY HAVE ZERO CREDIBILITY FOR OPINION OF WHAT MARKET MIGHT DO..
Why do people think that Realtors are non bias financial advisers?
Lol
This interview is from last year in fall
@@compytv8636no, this video is from the time you wrote this dumb comment.
Yeah, but this realtor knows his stuff
"Wait; a small cottage on a lake for only $147 million ?
That's a bargain, I'll buy 6 of them."
That seems to be the mentality of Canadians viewing real estate.
Most realtors are not economists or engineers. Prerequisite degree is a must for realtor. I knew a weed dealer and a parttime dj became realtor, they r good at talking.
"2 different buyers".......one of the hallmarks of an authoritarian society
We listed our cottage in 1990 for $200,000 it sold in 1994 for $120,000. History may not repeat but it will rhyme.that same cottage is valued around $750,000. We have a long way to fall, I figure it will be $300,000 - $400,000 in 5 years.
1990, 1994? What are you event talking about, do you realize the money supply 30 literal years ago was less than 1/10 of what the money supply is today? Money is devalued, not only will prices not drop, they will keep rising as your dollar buys less each and every day. That's why a damn package of bacon is $12 instead of just $4 a few short years ago. And im curious how much that bacon was in your 1990. Likely $2. Do you think bacon prices will drop too?
@@onecoolstorybro You brought up valid points but you can communicate those point just as effectively without being condescending and rude.
Sure, but this is the internet, ser.@@nilnil7325
If you can work from home, you can get half off going a bit further north or to QUE.
Ya but quebec has french people
Big demand by realtors working from home...sry gravey train is gone..time to look for a real job...how about Cuddler..agents have the skills 100 $ per hr ...not bad
Back to English class you go
This is just start It will move from recreational to primary residence this year and it all boils down to one thing average income does not equal asking prices it's known as peak real estate or the world's largest real estate bubble.
Was a house for sale where I live on the Bruce peninsula which is cottage country it was on the market for the last year and was talking with the owner and she said it went below what it was listed for said she had to cut her lossesWas on the market for around 550,000 and it is a nice looking place
Many of these expensive cottages are not worried about interest rates. They have the cash.
Something does not add up. I think he is not stating the facts as people were over leveraged and buying cottages when interest rates weee low. Due to pandemic people were working from home while now employers want their employees in the office.
He's uplifting his market. His area is 3 million plus
He said that. It adds up.
Greetings from lake of bays my family has had a cottage in the same family for 80+ years and when my grandmother passed away in 1998 she left a trust fund of $200,000 so I could maintain it and being single white man I enjoy my 6 seasons there thanks for the presentation
What WFH job covers a $2million cottage at 5%? Doesn't add up
most wealthy people make most of their money from investments and assets, not their income from a job lol
Not your job, apparently.
The graph shown displayed - 30 % ...then he says 11 or 20% lol😂😂😂😂then gives -40% example...probably sold cause house was on chopping block..probably listened to some knuckled head realtor in 2021
If you treat the real estate market like the stock market, what do you expect ?
Have you noticed a reduction in commissions from the brokers to help ease the pain of your losses ?
Did you apply for the Cottage Life Investment Loss Grant to assist new buyers adjust to investment loss syndrome ?
He looks really enthusiastic and upbeat about the cottage market 😂
😂
The only people upset are the ones who purchased since covid. Everyone else's is making more money or sitting on money. Future cottagers are upset at inflation butbthats a given. They want a deal and need a deal to have that lifestyle. That hardly ever happens. When i purchased 10 years ago. I was shocked at the increased prices now is the same. Covid was a factor but only for people who purchased in the last 3 years. The rest are happy either way.
Why would it be surprising for luxury? Rich gets richer and poor gets poorer. Middle class is also getting poorer.
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂 BS baffles brains...sales are down and inventory is way up
Why goto muskoka when u can goto mexico or jamaica
Because you don’t have to fly and waste time in airports. I see cottages as something to do on the weekend. Go up on Friday and come back on the Sunday evening. Even better when you can go for a long weekend.
If you don't want to go to Mexico or whatever that year you don't have to. Cottage has to be maintained and constant drain of money.
Lock down from the government.... Unnecessarily closing the borders and punishing people for traveling.. That's the Canadian dictatorship.
You won’t kidnapped or murdered in muskoka.
There dosen't seem to be a wealth transfer in Canada EH!
Stupidity has its price ! Lol
What's the point to live in a cottage?? You should just need a camper and go for travelling and stay in camp ground. It s a waste of land by making cottages
Looks good on these yuppies
This guy is so FOS. We have been looking for 4 months now in that area and wow the asking is ridiculous due to the age and septic tanks well over aged oil tanks cisterns so old. And the new scam about taxes if your waterfront being charged for each doc in the water.
Aww. Cottage owners losing money. Aww.
who is going to cut their grass?serve their coffee what they going to do!!!.....then again they are probably sitting empty
Yeah, they only worked hard and started companies that employ people like you. You’re welcome.
Liar liar pants on fire
Karma😂
It’s so great that the government goosed asset prices and make the super wealthy all that much wealthier.
What interest does he have....to owners ...potential clients ....or buyers....lol 😂😂😂😂😂😂😂😂😂😂😂😂
Boohoo
Haha good
This guy seems like a liar
He's a realtor so yes he's a liar
It worse lol
It’s uhhh yeahhh…
Hmmm
This realtor doesn’t belong on the television
I don’t trust one word he has said
Realtors are just salesmen & salesmen will tell you anything to get their commission.