The economy is a freight train and the banks are the wheels. The tightening is them hitting the breaks and nothing bad has happened just yet because despite how hard they are hitting the breaks the train is still moving at the moment. That tells you how hot the economy was prior to this.
The banks know that they are losing money the whole time. I once went into a bank to take out 8k for a car loan which I had 30k in my account. And the bank told me they cant do it. That was 4 years ago.
We will see how this plays out. Commercial real estate deals take time, with banks tightening, restricting or slowing lending, it will take even longer for deals to get done. If they get done at all. We will see more properties slowly coming onto the market. 2024 will be interesting.
Kenny is out of touch with the common person. George had to remind him, it's not just about supply and demand. No one can "breathe" when expenses exceed income, PERIOD! This isn't hard folks
The economy is a freight train and the banks are the wheels. The tightening is them hitting the breaks and nothing bad has happened just yet because despite how hard they are hitting the breaks the train is still moving at the moment. That tells you how hot the economy was prior to this.
The banks know that they are losing money the whole time. I once went into a bank to take out 8k for a car loan which I had 30k in my account. And the bank told me they cant do it. That was 4 years ago.
What a trio! Great video guys!
We will see how this plays out. Commercial real estate deals take time, with banks tightening, restricting or slowing lending, it will take even longer for deals to get done. If they get done at all. We will see more properties slowly coming onto the market. 2024 will be interesting.
Ken, could you please tell me what your cost per square foot was/is for your new multi-family buildings? Would greatly appreciate it
The defaults are on their way; both personal and businesses. People will just stop paying their credit cards and businesses will return their keys.
Going to be a long term process to correct. Hold on tight
Sounds like banks are getting defensive and decreasing their real estate exposure. Smart.
Hey Ken As a beginner is it Good to buy a real estate investment in canada 🇨🇦 in this Time or wait ?
I would run as fast as I can from Canada.
When economy melts down usually banks receive less deposits
Jingle mail on its way !
Kenny is out of touch with the common person. George had to remind him, it's not just about supply and demand. No one can "breathe" when expenses exceed income, PERIOD! This isn't hard folks
I like and respect both individuals but George seems more in tune with the struggles and hardships of everyday people.
Thanks guys for your education and info. Keep up the great work! 💯👍🏡🏠🏨 ♾️