It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential May rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Margaret Johnson Arndt for the last five years or so, and her returns have been pretty much amazing.
The Canadian dream is to work for 25 years at a job you hated, for a house you won’t want after 25 years, with a wife that will take all your money if you leave, and to be taxed for the government to spend foolishly.
I'm happy for you blaming everything in your life on everything except yourself... When do you apply for MAID? Society is so much better without childish men like you.
lol Cons always blame the libs for their poor choices in life lol. I always vote lib and Im a Toronto homeowner. lol Own your poor choices@@jumbome7420
Don't worry folks! Lot's of corporations lining up to buy your house! And they will rent it back to you no worries! Hate to say this as it sounds insensitive, but we are responsible for this mess. We bid up the value of houses instead of saying Nope, I will NOT pay more than what this house is worth. You reap what you sow, sorry!
Foreign money laundering was a big problem here for some time. Legitimate buyers were caught up in bidding against money laundering , especially in Toronto and Vancouver. Tiff assured all , Interest rates would remain low for a very long time. Then the rug pull. The feds could have stopped the money laundering they were aware, but didn't until too late albeit with a loophole. Many foreign students as opposed to renting, were sent in groups with cash from their homeland and buying houses outright, finishing school, then leaving the house abandoned. That's why there are many empty homes in Toronto and Vancouver. It's out there, look into it.
@@stynger007 You are absolutely correct. I’m a real estate appraiser here in Toronto and according to my estimates the bidding up of real estate has been happening at least since 2012, if not earlier.
I was considering a condo unit that's around 600K, and I think with over 20% down, I would be ok to afford my monthly expenses. Nope, with 20% down, the mortgage monthly is around $3300, and with a condo fee of about 600-700, you're looking at about $4000 a month. And we are not even including property tax of about $3000-$4000 a year, plus utilities, internet, mobile etc. etc. So you're looking at about $4500 a month. SAD!
This is just the start i was in the USA when the last house market started to fall apart it took around 5 years to bottom out we are just in the beginning of this melt down of Canadain house market.
I was discussing mortgages / rates with friends over the weekend. They bought a townhouse (in the suburbs of Ottawa) last August, on a variable mortgage. Their payment has gone from *$2800 to $4400* .
Nothing will change save up and leave the nation. You can't start a stable family renting or you will eventually lose your family. If you are young and looking to start a stable family save up and leave the nation. Nothing will change.
@@44pakattack The best thing you can do is save up and leave. Nothing will change. 2014 national average home price was around $450k and today 2023 its $1 million dollars before the bidding war starts.
Housing is unaffordable, groceries are going up, rent is going up as well, and it's making me seriously consider moving out of Vancouver," 4 years later I am regretting my choice. What can I do differently now? Making ends meet has been difficult.
That's why one should never gamble on variable rates. Canadians love to have variable mortgage rates while American love fixed rates more. Not sure why, but it has been that way for decades.
Nobody is building or buying affordable homes, they are building maximum taxable homes that cost the most to insure, mortgage, maintain and are usually part of a bidding war. City governments, builders and real estate companies are the ones to blame.
Nope. The federal government is to blame 100% for printing millions that we don’t have and over stimulating the economy. Insurance or tax has nothing to do with the high prices. I don’t think you understand what is actually going on
What's the best way to live off $250,000 for 10 years? I need something to get me by until I can draw on my 401k without penalty. I'm also 100% debt free. No mortgages, 5 bedroom house, and 2 vehicles all paid for. Any advice would be appreciated. Thank you.
The decision on when to pick an advisor is a very personal one. I take guidance from ‘ Kayla Tabitha Rodrigues ‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I work with Kayla Tabitha Rodrigues a fiduciary, who grew my down position of 250k to 438k in 6 months outside my traditional IRA, the model uses defensive strategies to keep track of funds that we have set aside.
how can i reach this person? I am actually thinking of going the route of an adviisor, past 18 months rallies gave way to fresh lows, just as sentiment was starting to imprve. I’m cautious.
Canada's Real-estate in total represents at least 30% of our GDP. And we have a critical housing shortage. So what does the Government and the BOC do - Raise Mortgage and Interest rates. Guess what? Nobody will invest in New constriction - Nobody. Any new investments by the Feds will be paid by the Taxpayers of Canada. So more and higher Taxes. All of this is an Oxymoron to say the least And Pierre is no better
@@jumbome7420 If you study his history with an open mind you just may change your mind. Try it if you care to and if you do, save this and get back to me. Thanks for getting back. 👍
Amortization should be adjusted accordingly. Change it to 40-50!years . Also … interest payments should be able to be claimed at tax time. Canada loves to screw it’s “ subjects “ every way they can . It’s the British way … still !
There is no corporation buying up your house. But having said that, it’s amazing that you would love to have somebody else by your house for $1 million in rent it to you for nothing; so they can take a loss and you can have toast in the morning
Maybe not corporations but if I’m remembering correctly statscan put out a report a couple months ago about investors being the owner of anywhere from 1/5 to 1/3 of all homes depending on the province and building type (I believe it was 44% of all condos in Ontario lol)
More than 25% of homes are being bought by investors, who over bid, artificially raising the prices for other buyers and then passing that price onto the renters. They also then let the property deteriorate ruining a neighborhood.
@@lizliz4186 I buy a house, I rent the house… what part of this is unfair to you? Oh wait… I’m supposed to buy the house and rent the house for less than what the mortgage and maintenance is…
@@winstonsmith4108No he does not. He supports controlled immigration. Big Difference. Can’t believe how dumbed down Canadians still are after 8 years of Trudeau destroying your Canada and now it’s burning
@@elai3147 ur house never worth 2m banks govt bancrupted u can go banks balance sheet no more money Laundering soon we ll b free from criminal central banking
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential May rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
I’m intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Margaret Johnson Arndt for the last five years or so, and her returns have been pretty much amazing.
The Canadian dream is to work for 25 years at a job you hated, for a house you won’t want after 25 years, with a wife that will take all your money if you leave, and to be taxed for the government to spend foolishly.
Agree but the wife part is projecting
I'm happy for you blaming everything in your life on everything except yourself... When do you apply for MAID? Society is so much better without childish men like you.
@@ykhov psychologist in the house. Knows little about the writer but can deduce quite a bit. Sherlock Holmes has a friend.
that's nice! LOL
😂 Canadians speaking like someone cares about their well-being
Not too long ago you could pay off your mortgage in 25 years. Now a days it takes 25 years to save a downpayment!
Thank the liberals and ndp
@@jumbome7420lol
lol Cons always blame the libs for their poor choices in life lol. I always vote lib and Im a Toronto homeowner. lol Own your poor choices@@jumbome7420
well you can always live with a roommate and suck it up for a few years. It is hard but its not impossible
@@van-mf6zntry 10 roommates
Don't worry folks! Lot's of corporations lining up to buy your house! And they will rent it back to you no worries! Hate to say this as it sounds insensitive, but we are responsible for this mess. We bid up the value of houses instead of saying Nope, I will NOT pay more than what this house is worth. You reap what you sow, sorry!
Foreign money laundering was a big problem here for some time. Legitimate buyers were caught up in bidding against money laundering , especially in Toronto and Vancouver. Tiff assured all , Interest rates would remain low for a very long time. Then the rug pull. The feds could have stopped the money laundering they were aware, but didn't until too late albeit with a loophole. Many foreign students as opposed to renting, were sent in groups with cash from their homeland and buying houses outright, finishing school, then leaving the house abandoned. That's why there are many empty homes in Toronto and Vancouver. It's out there, look into it.
The only ones hurting are renters
@@jumbome7420.....
@@stynger007 You are absolutely correct. I’m a real estate appraiser here in Toronto and according to my estimates the bidding up of real estate has been happening at least since 2012, if not earlier.
I agree!
I was considering a condo unit that's around 600K, and I think with over 20% down, I would be ok to afford my monthly expenses. Nope, with 20% down, the mortgage monthly is around $3300, and with a condo fee of about 600-700, you're looking at about $4000 a month. And we are not even including property tax of about $3000-$4000 a year, plus utilities, internet, mobile etc. etc. So you're looking at about $4500 a month. SAD!
You should have 50%-70% down payment then
20 % down payment no longer works
They bought without thinking about the math when buying at historically low interest rates. No big surprise.
Cons cant math lol
@@bonbonvegabonWhat does that reply even mean?
Not very bright huh?>@@ickster23
78 percent find their mortgage payments affordable, plenty of room for BOC to hike the rate.
Talked with dozens NEW to Canada. All want to leave. Welcome to JUST IN Canada
They can go
Who are all these idiots that are paying these prices anyway?
This is just the start i was in the USA when the last house market started to fall apart it took around 5 years to bottom out we are just in the beginning of this melt down of Canadain house market.
it will never go down(in toronto/vancouver) given the amount of immigrants moving to canada every year.
I was discussing mortgages / rates with friends over the weekend. They bought a townhouse (in the suburbs of Ottawa) last August, on a variable mortgage. Their payment has gone from *$2800 to $4400* .
That’s crazy!
Yup same with my sister and her husband. They have a townhouse and are paying outrageous mortgage
time to go see the bankruptcy trustee!
Why would they get a variable mortgage a year ago with all the warnings ?
At least their mortgage isn't upside down and they are earning equity.
@@lizliz4186earning equity??
They are pissing their money away in interest not paying down principal
Nothing will change save up and leave the nation. You can't start a stable family renting or you will eventually lose your family. If you are young and looking to start a stable family save up and leave the nation. Nothing will change.
Yup. I'm 40 now. I'm going to retire and leave canada
@@44pakattacksame here canada is to cold to spend half of the year hibernating. We are over taxed and I have better quality outside of canada
@citizenm9590 i agree, brother. I have some serious decisions to make depending on who wins the next election.
@@44pakattack The best thing you can do is save up and leave. Nothing will change. 2014 national average home price was around $450k and today 2023 its $1 million dollars before the bidding war starts.
Yup. I'm ready to leave
Housing is unaffordable, groceries are going up, rent is going up as well, and it's making me seriously consider moving out of Vancouver," 4 years later I am regretting my choice. What can I do differently now? Making ends meet has been difficult.
That's why one should never gamble on variable rates. Canadians love to have variable mortgage rates while American love fixed rates more. Not sure why, but it has been that way for decades.
@patc3650 Not worth the gamble. Gambling is never worth it especially when one can't afford it.
@patc3650nope my fixed rate at 2.5 is dee in three years
@@Ronin317 they have to renew the same as we do.
@patc3650 variable is always a gamble, literally definition of variable is: not consistent or having a fixed pattern; liable to change.
Hey dummy, all Canadian mortgages are variable. The fixed rate comes up for renewal 5 times during the fixed mortgage....
Nowadays you should have 50-70% down payment to start thinking about buying a house or a condo
Because the bank says you can have 500k doesn’t mean you have to buy 500k.
Also. The bank makes money make money lol.
Not many houses available for under 500k, so your saying just rent?
There's not even apartments for 500k
Nobody is building or buying affordable homes, they are building maximum taxable homes that cost the most to insure, mortgage, maintain and are usually part of a bidding war. City governments, builders and real estate companies are the ones to blame.
Nope. The federal government is to blame 100% for printing millions that we don’t have and over stimulating the economy. Insurance or tax has nothing to do with the high prices. I don’t think you understand what is actually going on
bahahhaha housing is a provincial matter dhummie lol@@jumbome7420
What's the best way to live off $250,000 for 10 years? I need something to get me by until I can draw on my 401k without penalty. I'm also 100% debt free. No mortgages, 5 bedroom house, and 2 vehicles all paid for. Any advice would be appreciated. Thank you.
The decision on when to pick an advisor is a very personal one. I take guidance from ‘ Kayla Tabitha Rodrigues ‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I work with Kayla Tabitha Rodrigues a fiduciary, who grew my down position of 250k to 438k in 6 months outside my traditional IRA, the model uses defensive strategies to keep track of funds that we have set aside.
how can i reach this person? I am actually thinking of going the route of an adviisor, past 18 months rallies gave way to fresh lows, just as sentiment was starting to imprve. I’m cautious.
And you can thank the Trudeau Liberals for this ridiculous mess.
Hold your breath... maybe they will add an equity tax when or if you ever sell your home.
They probably have too much money sunk into their cars as well.
Cons suck at money management lol No pity for any of them lol@@josephsmith594
If you over leverage regardless of the economic situation in the country, that's poor decision making.
Could it be because the interest rate on their mortgage just tripled? You think?
We need to charge a carbon tax onto mortgages. Because of the rising population. Each person causes carbon. Tax em all
Could it be because the currencies loose value. How do you build wealth if the currencies loose value?
Canada's Real-estate in total represents at least 30% of our GDP. And we have a critical housing shortage. So what does the Government and the BOC do - Raise Mortgage and Interest rates. Guess what? Nobody will invest in New constriction - Nobody. Any new investments by the Feds will be paid by the Taxpayers of Canada. So more and higher Taxes. All of this is an Oxymoron to say the least And Pierre is no better
I guess you haven’t actually listened or read any of his plans have you. Remember there’s more than TH-cam
@@jumbome7420 What does this have to do with TH-cam? Explain what you mean and your take on the current situation based on what I mentioned. Thanks
@@ethimself5064 I was pretty clear you said Pierre is no better so I pointed out how your wrong.
@@jumbome7420 If you study his history with an open mind you just may change your mind. Try it if you care to and if you do, save this and get back to me. Thanks for getting back. 👍
Amortization should be adjusted accordingly.
Change it to 40-50!years .
Also … interest payments should be able to be claimed at tax time.
Canada loves to screw it’s “ subjects “ every way they can .
It’s the British way … still !
The “Canadian Dream”, paying mortgage for 50 years. 😂 This country went to sh1t pretty quickly.
Office of the Superintendent of Financial Institutions (OSFI) wants mortgage amortizations of 25 years or less maximum for existing mortgages.
Canadians should regret how they vote.. Not their mortgage.. 😃
Becareful what ypu ask the other side of the isle cater to the rich not middle class or low income at least from Liberals we get some stuff.
You'll own nothing and be happy.
Just you cons who didnt invest in secondary education lol
They don't regret supporting the lockdown, monetary, and net zero policies that have driven up lending rates and inflation?
It’s the same old story with too many homeowners who bought at prices that were beyond their means. Perhaps another housing bubble is about to burst?
There is no corporation buying up your house.
But having said that, it’s amazing that you would love to have somebody else by your house for $1 million in rent it to you for nothing; so they can take a loss and you can have toast in the morning
Maybe not corporations but if I’m remembering correctly statscan put out a report a couple months ago about investors being the owner of anywhere from 1/5 to 1/3 of all homes depending on the province and building type (I believe it was 44% of all condos in Ontario lol)
More than 25% of homes are being bought by investors, who over bid, artificially raising the prices for other buyers and then passing that price onto the renters. They also then let the property deteriorate ruining a neighborhood.
@@lizliz4186
I buy a house, I rent the house… what part of this is unfair to you?
Oh wait… I’m supposed to buy the house and rent the house for less than what the mortgage and maintenance is…
Most will still vote for Sunny Ways JT...shameful
Better than Low Rent DeSantis.
@@winstonsmith4108No he does not. He supports controlled immigration. Big Difference. Can’t believe how dumbed down Canadians still are after 8 years of Trudeau destroying your Canada and now it’s burning
@@Roof_Pizzawrong country
Yea sadly to many clueless liberals with their welfare hands out for money
@@jumbome7420pay the troll no mind and don't take the bait. This is his only outlet to the outside world.
Toronto Vancouver house prices ll b down %85 in a year
lol, based on the average detached house price of $2mil in vancouver, that would mean down to $300k
@@elai3147 ur house never worth 2m banks govt bancrupted u can go banks balance sheet no more money
Laundering soon we ll b free from criminal central banking
are you high😂😂
😂😂😂
2300 mortgage doesn't sound as bad as 3000 rent
Time to pay the Piper 😢
living just to pay for a house
Canada, dry🙂
Nature is healing.
Only way out decentralized crypto currency bitcoin litecoin theta
Nah just toss it to tenants, easy peasy. 😆
Maybe sell your house
Love is enough. Said no one ever
Justin 😂
🍿🍿🍿
Well regret I have a few. Time to sell.
Huh!?
Squirrel
I have a paid off house so nothing to worry about for me. 😎
How many welfare payments did you get to pay off your house interest free ?
@kaysingh9174 rude . Guess your bitter and jealous.
Everyone in canada should move to Cleveland where its only couple grand for a house
USa is too crime infested
@@bonbonvegabonthen Europe 😢?
Europe is too expensive to buy a home. You can only buy condos there@@ajax1472
Turn it into a Airbnb