Loved this. Please do more of these talks as they were insightful not only on real estate and the economy in general but an interesting take on Canadian politics too. Would love to know more abt historical data on Canadian Real Estate as most people interested in real estate today don't know much abt what it looked like 20 years ago before immigration took center stage.
What is your advice for someone who bought 2 rental properties with a private lender last year and now is trying to refinance with a bank or B lender but the equity is not there anymore or the appraisal evaluation is way less than the purchase price?
So anyone with a big lot 50ft + and near transit line is laughing. as long as they can hold on for 2 to 3 years . Those lots will be scooped up fast. I am wondering if severing these lots will be much easier now too. Because there is no guarantee they would get that approved. What do you guys think?
Needed regulation within GTA: (1) Can only own home here if live/work in GTA. (2) 2 homes max per family and must use one as prim residence and rent other if have second. (3) 20% property tax per year on each additional homes (3+) owned in GTA. (4) 100% tax per year on condos and semi & detached homes owned by foreign speculators and all institutional investors/speculators. (5) Further condo & fam home purchases by institutions for speculation or investment purposes is banned. No more trillion dollar money washing ponzy schemes. (6) Zero land transfer tax & zero income tax for developers building new quality 3+ bedroom condos and quality detached fam homes. Homes need to be modern, spacious, green, env friendly/sustainable,built to highest standards, and targeting avg local income mortgage levels to qualify for tax exemption (7) Funding for new bullet train connecting GTA. (8) Mortgage stress test must be prime + 5% with 30% left as disposable income after primary expenses/costs. This widely regarded as min needed so we have a striving local economy and people that can save for retirement. (9) No more lines of credit and 2nd and 3rd mortgages on same property. Should not b able to borrow on unrealized imaginary equity. (10) Rent control on all rentals with increase being max 2% (long term infl target rate) and 0% during recession. Owner must prove to renter personal use/occupancy if evict tenant for personal use. New tenant can’t pay more than previous tenant.
Are investors sharing the house sales profit with the renter? If not, then why does the renter have to pay more to help the investors with the higher costs of borrowing? If the investors are enjoying the reward then they have to pay for the risk too. The only argument for increase in rent is the supply/demand and market price. No need to sugar coat anything.
Because thats how it works. No different than any other business. Costs go up, price goes up. If the price of sugar goes up, coke raises prices. Cost of a barrel of oil goes up, price of gas rises. Cost of steel goes up, price of a car rises. See how this works? Businesses are run to make money. Investment properties are no different. If you dont want to pay the increased costs move out and let someone else pay it. (Not saying that is your position, just stating the reality of the situation)
@@GregTGolden straw man much? business goes bankrupt with bad business practice all the time. investors has by all means the right to up charge the rent. but dont act like the renters should pay because your borrowing cost got higher. they only pay because the market dictates it. once the rent market softens then they wont regardless of how much your borrowing cost is at. to equate your borrowing cost with renters needs to pay is a logical fallacy. when would rent market soften? maybe when people are leaving the city/country
“In Toronto, the population grew by just 0.4 per cent between July 2020 and June 2021, lower than the overall 3.2 per cent annual growth seen between 2016 and 2021” food for thought
@@AnyBox2020 lol. Thats exactly what i had said. The market will allow landlords to push costs to renters because there is a tight rental market. Honestly you just sound angry for no reason. Landlords pay more, renters pay more. Its just simple economics. Straw man? Nah, i was neither agreeing nor disagreeing with you. Simply pointing out thats just the way things work. Stay bitter friend
@@GregTGolden sweetheart you have reading comprehension issues? whole point is about market dictates who bares the costs. any investor thinking the renter will automatically assume the increase is delusional. market changes all the time, giving investors advice on how they can automatically pass on the cost to renter is just irresponsible. same way how home buyers were given bad advise from certain agents earlier this yr or early 2017.
Waited for some "super nova" on the markets....you never take a strong position, always playing it safe. Feels like it falls short for me however still follower
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First time watching this channel. I was highly impressed.
Thanks for watching. More videos to come every Sunday on the podcast channel.
Awesome!
Welcome!
Loved this. Please do more of these talks as they were insightful not only on real estate and the economy in general but an interesting take on Canadian politics too. Would love to know more abt historical data on Canadian Real Estate as most people interested in real estate today don't know much abt what it looked like 20 years ago before immigration took center stage.
Please join every week on our podcast channel The Tom Storey Show for more shows like this one.
I just came back from visiting Banff. My son lives an hour away from the mountains. Beautiful waterfalls there.
Excellent Topics ❤
🙏
What is your advice for someone who bought 2 rental properties with a private lender last year and now is trying to refinance with a bank or B lender but the equity is not there anymore or the appraisal evaluation is way less than the purchase price?
So anyone with a big lot 50ft + and near transit line is laughing. as long as they can hold on for 2 to 3 years . Those lots will be scooped up fast.
I am wondering if severing these lots will be much easier now too.
Because there is no guarantee they would get that approved.
What do you guys think?
Very nice to see your guys raw thinking, more is welcome. Thank you.
Thanks for watching!
🙏
Glad you enjoyed it!
Great show.
Nice to see guys speaking up on discrimination against women so thank you
Thank you for watching until the end! 😃
Needed regulation within GTA: (1) Can only own home here if live/work in GTA. (2) 2 homes max per family and must use one as prim residence and rent other if have second. (3) 20% property tax per year on each additional homes (3+) owned in GTA. (4) 100% tax per year on condos and semi & detached homes owned by foreign speculators and all institutional investors/speculators. (5) Further condo & fam home purchases by institutions for speculation or investment purposes is banned. No more trillion dollar money washing ponzy schemes. (6) Zero land transfer tax & zero income tax for developers building new quality 3+ bedroom condos and quality detached fam homes. Homes need to be modern, spacious, green, env friendly/sustainable,built to highest standards, and targeting avg local income mortgage levels to qualify for tax exemption (7) Funding for new bullet train connecting GTA. (8) Mortgage stress test must be prime + 5% with 30% left as disposable income after primary expenses/costs. This widely regarded as min needed so we have a striving local economy and people that can save for retirement. (9) No more lines of credit and 2nd and 3rd mortgages on same property. Should not b able to borrow on unrealized imaginary equity. (10) Rent control on all rentals with increase being max 2% (long term infl target rate) and 0% during recession. Owner must prove to renter personal use/occupancy if evict tenant for personal use. New tenant can’t pay more than previous tenant.
Are investors sharing the house sales profit with the renter? If not, then why does the renter have to pay more to help the investors with the higher costs of borrowing? If the investors are enjoying the reward then they have to pay for the risk too. The only argument for increase in rent is the supply/demand and market price. No need to sugar coat anything.
Because thats how it works. No different than any other business. Costs go up, price goes up.
If the price of sugar goes up, coke raises prices. Cost of a barrel of oil goes up, price of gas rises. Cost of steel goes up, price of a car rises. See how this works? Businesses are run to make money. Investment properties are no different. If you dont want to pay the increased costs move out and let someone else pay it. (Not saying that is your position, just stating the reality of the situation)
@@GregTGolden straw man much? business goes bankrupt with bad business practice all the time. investors has by all means the right to up charge the rent. but dont act like the renters should pay because your borrowing cost got higher. they only pay because the market dictates it. once the rent market softens then they wont regardless of how much your borrowing cost is at. to equate your borrowing cost with renters needs to pay is a logical fallacy. when would rent market soften? maybe when people are leaving the city/country
“In Toronto, the population grew by just 0.4 per cent between July 2020 and June 2021, lower than the overall 3.2 per cent annual growth seen between 2016 and 2021” food for thought
@@AnyBox2020 lol. Thats exactly what i had said. The market will allow landlords to push costs to renters because there is a tight rental market.
Honestly you just sound angry for no reason. Landlords pay more, renters pay more. Its just simple economics.
Straw man? Nah, i was neither agreeing nor disagreeing with you. Simply pointing out thats just the way things work.
Stay bitter friend
@@GregTGolden sweetheart you have reading comprehension issues? whole point is about market dictates who bares the costs. any investor thinking the renter will automatically assume the increase is delusional. market changes all the time, giving investors advice on how they can automatically pass on the cost to renter is just irresponsible. same way how home buyers were given bad advise from certain agents earlier this yr or early 2017.
Please suggest ways to make housing affordable in Canada.
We did an episode about that on the podcast channel! Link in the description.
Whoa! I didn't know Steve was tanking like that!
What is VOC data?
*BOC (Bank of Canada)
Where does Tom live - area/
The centre of the Universe!
This could’ve been us. I’m jealous.
Soon! Our people will get in touch with your people.
🤔
@@TomStorey hey? when are your people getting in touch with my people? I sold real estate when condos were $300/sqft ... remember?
im jealous too.. of the boys club... ;-(
Waited for some "super nova" on the markets....you never take a strong position, always playing it safe. Feels like it falls short for me however still follower
Appreciate you watching! This was more of a "talk and see what happens" type of live.
@@TomStorey yeah I get. Im a small time investor your channel should blow up I mean you give good value, insight ... best wishes & continued success
Tell your friends!