In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
My CFA ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
People are not blind, they can see that the cost of living is going up 15% to 20% each year, but their income is stagnant and not rising at all. If they can barely afford to buy food while paying the rent now, they can see that in 2 to 3 years from now, they will be starving, and maybe even homeless, living in a tent on the side of the road. As a result, more and more Canadians are now planning an escape from Canada to some other place (Portugal, Thailand, Mexico) where they can actually have a good life and not suffer.
High rates? 13% is a high rate, as is 22%. The main problem is NOT high prices and reasonable interest rates - - - WAGES have stagnated for the past 30 years, and with the Government borrowing more to give more, this causes inflation, yes. BUT, the DISPARITY in wages is almost GROSS, with management making in excess of $150,000, while many workers make between $30,000 - $60,000. HOMES have been selling like hotcakes, so housing isn't the issue, WAGES ARE. With pay increases of 20% for those with incomes below $60,000 would create a demand for major subdivisions. QUIT BLAMING THE GOVERNMENT, blame yourselves for BUYING Chinese products from USA companies like Walmart, Amazon and Costco.
16 months from now intrest rates will drop back to pre covid rates. It's a trend. The rate of how things are going you need to hold. Banks are handing out lines of credit and credit cards like crazy right now. Just hold on for the 16 to 18 months mark my words...👍🏻👍🏻
I'd really love it if you could talk about the real reasons we are in a housing crisis. Forinstance, people who are benefitting by investing or laundering money through our real estate markets which puts pressure on housing prices so that regular citizens can't afford to own in their own country.
In the news this week,HELLS Angels laundering money through real estate Millions of dollars) W5 did a show on it years a go ,they figure 100 billion ( cops info) on money laundering in Canada ..Look it up..@@Hectorsgirllori
The rates are NOT high. They are only higher than the past 10 years... the issue is the cost of the house initially. The cost of a house has exploded. What needs to happen is for all house buyers to only put offers in BELOW asking. They need to think about the cost of a house with the cost of interest over the years- that is the real cost.
This Porsche tracker thing is hilarious. I was a young guy starting out during the Dotcom crash. I was (and am) a regular gym-goer. At the time I went to a gym off of Bay Street in downtown Toronto. I knew things had taken a turn for the worse when the gym bulletin board filled up with BMWs for sale.
I have a neighbour who night last year. Carrying 800k. Single income. House is worth 20 or more percent less than he paid. It’s a nightmare. They sent their newborn back to india to live with family. I think he’s not a rarity with this financial mess
I don't know if the interest rate come down every one rush to buy houses drive the price up if the rates is high every one cry can't pay their mortgage 😢 that's just my opinion
Having not raised the rates, as mentioned will lower the $can and increase the cost = inflation for everyone, bad move! People went on a spending spree when the interest was low and now the it is time to pay. Let them pay ! Sometimes simplicity is the best, not bigger and better
I think a lot of people are using the food bank because it’s free food.Some people will take advantage of such programs and will continue too. My 2 cents anyhow .Love the show ,keep it going.
If you have the choice between free food and paying for food. You're unironically a r*tard for spending money on food LMFAO. Enjoy wasting your money dumb ass.
I don't know anyone who have enough income used food banks. There are people who wants to take advantage of everything, but I don't think that's a big number. Just my experience based on people I know.
"Grab hags" they call them. There was actually a foreign student who was shamed recently on X bragging about all the free food they were hoarding and encouraging others to abuse the food bank.
A great video and I love the part about supporting the local food bank (I mentioned to do that as well in my video). Keep up the great work - very informative. I subscribed.
Just too many Canadians take for grant their freedoms and unity. Too many are running after status and money. Yes, it can be gone in a flash. I care for Canadians and the country of Canada .
I think eliminating the stress test for first-time buyers in a fixed 5-year term would be helpful! For everyone else. No! It keeps people pushing up the market and buying more house than needed!
BOC knows how to restore the confidence and how to make the country competitive. Right now with the elevated home prices Canada is no longer able to attract immigrants longer. The situation is getting so dire the people from Niger, Chad, South Sudan would think twice before moving to Canada.
Don't agree on removing stress test. Government does not make policy quickly. If they remove it then govt won't be fast enough to get it in place for the next rate drop / bull cycle.
I would say how many cottages and boats are coming to market is a better indicator then the Porsche test - there are very few upper end Porsche's available and no bargain - love your show it is very informative and helpful
How many houses do you think you can buy? And how much can you buy with out bank financing? The banks will cut people off with multiple properties real fast now.
some people likely never sold...and are unwilling to sell their porsche for a discount...so, that could explain the decline in porsche's...because the decline is certainly not an indicator of economic health!
@@alexrubin5955everyone who can't afford bc or the greater Toronto area is going there. I have groups of friends that left. And now the same situation is happening there.
I grew up in a low income/mid income neighborhood I definitely knew a few family’s on food stamps and government support. The problem is if you make a little bit too much you lose all your government support so it’s better for them to stay in their current situation or milk the system. I knew some family’s in the mid 00’s that were clearing over 80k year milking the government. I’m sure the situation has gotten worse and so many more people are trying to get more than ever
You really think I am subscribed to this channel? lol I am actually doing a favor by telling him that he should do some research before talking. Enjoy being misinformed.
Like your comment on the stress test.. it should be abolished for renewals.. When I renewed, the bank agent told me that the bank knew that many people couldn’t shop for mortgages as they might not qualify. As a result, they raised rates for renewals as people were in fact trapped by the stress test.. keep up the good work!!
you dont have to show ANY PROOF of bank accounts to claim food bank ,just show up..Thats why you get all those international students there ,they are inflating the numbers folks ...If you can afford the school ,you can afford food.
@@MentionBiscuit These guys aren’t getting it, can’t have a housing market with only top 1% earners that can buy a house. They have obviously forgotten that 75 year graph that shows the median priced house can be purchased by median income earners, and it’s been that way for 71 years, with the exception of the last 4 years. That means a correction is coming for all the clueless brokers that are so marooned they can’t determine whether the hoop is picked or punched. I’m starting to think Mr.Wise-OL’-Owl is becoming part of that group. The market needs to return to 3-5 times yearly income, not 9-11. People need to start making 3 times current incomes or housing comes down 40-65% OR a combination. But currently the two are so dymatically far away from each other it’s going to take a massive market swing to make it happen, something equal to or greater then the US market of 2008. (Which is very likely sooner or latter).
@@Bias_Eh-State_Chronicles Well said!you got it in one! 9-11x a persons yearly income… do Canadians even understand what that means? Honest agents and brokers will be hurt in all this mess - but they need to clean house and their industry- mega mega fraud got us here and everyone was on the take! They were complicit or turned their heads to it. Time to pay the piper- systems broken and the s--hitters FULL🙈🙉💩 Even the 1% that can “afford” many are having to make major lifestyle changes elsewhere just to be house poor. People want to brag about the valuation of their million dollar condo or townhome but don’t realize that it will also mean twenty buck loaves of bread! Clown stuff
If I hear one more talking head call Inflation “sticky”. …….. they all walk in lockstep. Like the stock market is “choppy” today. At least you all have moved on from “drill down and pull on that thread”. Please - someone be original. The English language can handle it.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
My CFA ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I checked Margaret up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
People are not blind, they can see that the cost of living is going up 15% to 20% each year, but their income is stagnant and not rising at all. If they can barely afford to buy food while paying the rent now, they can see that in 2 to 3 years from now, they will be starving, and maybe even homeless, living in a tent on the side of the road. As a result, more and more Canadians are now planning an escape from Canada to some other place (Portugal, Thailand, Mexico) where they can actually have a good life and not suffer.
Wish I could join the exodus!
The best stress test, is when over priced speculators loss there shirt and prices fall to an affordable level.
❤
There is a depression coming here in Canada get ready
Great call to action at the end. Very admirable
High rates? 13% is a high rate, as is 22%. The main problem is NOT high prices and reasonable interest rates - - - WAGES have stagnated for the past 30 years, and with the Government borrowing more to give more, this causes inflation, yes. BUT, the DISPARITY in wages is almost GROSS, with management making in excess of $150,000, while many workers make between $30,000 - $60,000. HOMES have been selling like hotcakes, so housing isn't the issue, WAGES ARE. With pay increases of 20% for those with incomes below $60,000 would create a demand for major subdivisions. QUIT BLAMING THE GOVERNMENT, blame yourselves for BUYING Chinese products from USA companies like Walmart, Amazon and Costco.
THIS 👏👏👏👏
16 months from now intrest rates will drop back to pre covid rates. It's a trend. The rate of how things are going you need to hold. Banks are handing out lines of credit and credit cards like crazy right now. Just hold on for the 16 to 18 months mark my words...👍🏻👍🏻
Agreed !!!!
I'd really love it if you could talk about the real reasons we are in a housing crisis. Forinstance, people who are benefitting by investing or laundering money through our real estate markets which puts pressure on housing prices so that regular citizens can't afford to own in their own country.
FACTS !!!
In the news this week,HELLS Angels laundering money through real estate Millions of dollars) W5 did a show on it years a go ,they figure 100 billion ( cops info) on money laundering in Canada ..Look it up..@@Hectorsgirllori
This is true we let the Real Estate Speculators destroy this country.
as long as we have a freaking part time drama teacher as our ceo and a freaking journalist as our cfo, it's only going to get worse.
Yea, and as long as the only alternative is a freaking career politician things won't get better.
Are you saying they aren't qualified? It can't be that hard, budgets balance themselves.
The rates are NOT high. They are only higher than the past 10 years... the issue is the cost of the house initially. The cost of a house has exploded. What needs to happen is for all house buyers to only put offers in BELOW asking. They need to think about the cost of a house with the cost of interest over the years- that is the real cost.
This Porsche tracker thing is hilarious. I was a young guy starting out during the Dotcom crash. I was (and am) a regular gym-goer. At the time I went to a gym off of Bay Street in downtown Toronto. I knew things had taken a turn for the worse when the gym bulletin board filled up with BMWs for sale.
I have a neighbour who night last year. Carrying 800k. Single income. House is worth 20 or more percent less than he paid. It’s a nightmare. They sent their newborn back to india to live with family. I think he’s not a rarity with this financial mess
I don't know if the interest rate come down every one rush to buy houses drive the price up if the rates is high every one cry can't pay their mortgage 😢 that's just my opinion
yes, many people from India did not live through the 1980s in Canada to see how housing can crash
Deserves them right. Living beyond their means. Go back home. Ur better off there than here. I'm leaving canada too. Trudeau has ruined our country
How did this person qualify for an 800k mortgage? People are just so bloody gullible and short sighted.
I dont know very few people should be able to qualify @@supermash1
Having not raised the rates, as mentioned will lower the $can and increase the cost = inflation for everyone, bad move! People went on a spending spree when the interest was low and now the it is time to pay. Let them pay ! Sometimes simplicity is the best, not bigger and better
I find it hilarious that porsche owners are getting pissy about the fact that there is a glut of porches on the market. Talk about buyers remorse.
I think a lot of people are using the food bank because it’s free food.Some people will take advantage of such programs and will continue too. My 2 cents anyhow .Love the show ,keep it going.
If you have the choice between free food and paying for food. You're unironically a r*tard for spending money on food LMFAO. Enjoy wasting your money dumb ass.
I don't know anyone who have enough income used food banks. There are people who wants to take advantage of everything, but I don't think that's a big number. Just my experience based on people I know.
my dad would say rich people go to the food banks why do you think they are rich
"Grab hags" they call them. There was actually a foreign student who was shamed recently on X bragging about all the free food they were hoarding and encouraging others to abuse the food bank.
Don’t kid yourself.
A great video and I love the part about supporting the local food bank (I mentioned to do that as well in my video). Keep up the great work - very informative. I subscribed.
Just too many Canadians take for grant their freedoms and unity.
Too many are running after status and money.
Yes, it can be gone in a flash.
I care for Canadians and the country of Canada .
So much fear mongering and nonsense coming from you sorry but so far all you have said about the chaos hasn’t even happen
I think eliminating the stress test for first-time buyers in a fixed 5-year term would be helpful! For everyone else. No! It keeps people pushing up the market and buying more house than needed!
BOC knows how to restore the confidence and how to make the country competitive. Right now with the elevated home prices Canada is no longer able to attract immigrants longer. The situation is getting so dire the people from Niger, Chad, South Sudan would think twice before moving to Canada.
❤
Just cancel Disney + and everything is going to be alright...
Don't agree on removing stress test. Government does not make policy quickly. If they remove it then govt won't be fast enough to get it in place for the next rate drop / bull cycle.
I would say how many cottages and boats are coming to market is a better indicator then the Porsche test - there are very few upper end Porsche's available and no bargain - love your show it is very informative and helpful
Chrystia lied 2 us?????? AGAIN????????
If she opened her mouth, yes she lied.
And then some people are sharks that gobble up things when they're on sale. That will be me.
And me! Watching the idiots whom bought during covid, driving prices waaaaay up, can’t wait till those go into foreclosure!!
How many houses do you think you can buy?
And how much can you buy with out bank financing?
The banks will cut people off with multiple properties real fast now.
I got priced in2 retirement 5 yrs ago! Couldn't hang on2 the house then! I should have made a 4cast!
lol at the Porsche tracker making rich people sad. The wealthiest people in this country are the softest freaks on the planet
Nice shirt
You cannot call yourself home owner when banks own your behind
This! All the “homeowners” crying! I don’t own my home while I still have a mortgage payment
some people likely never sold...and are unwilling to sell their porsche for a discount...so, that could explain the decline in porsche's...because the decline is certainly not an indicator of economic health!
I love the Porsche tracker, one of fav parts of your channel, who cares about the baby whiners, suck it up.
Yet prices still climb in Calgary. What gives?
Yeah, Calgary is that weirdo on the block.
Only for a while. That will change too.
@@Bias_Eh-State_Chronicles - When? It doesn’t seem to be affected by anything.
@@alexrubin5955everyone who can't afford bc or the greater Toronto area is going there. I have groups of friends that left. And now the same situation is happening there.
I grew up in a low income/mid income neighborhood I definitely knew a few family’s on food stamps and government support. The problem is if you make a little bit too much you lose all your government support so it’s better for them to stay in their current situation or milk the system. I knew some family’s in the mid 00’s that were clearing over 80k year milking the government. I’m sure the situation has gotten worse and so many more people are trying to get more than ever
The inflation will balance itself...
I understand your Porsche tracker, i have a similar method with heavy equipement
In the same situation, I'm scanning the Auto Trader for a high end vehicle at a deep discount. Probably will happen next spring or early summer.
Freeze Frieslands bank accounts
Voice too low!
Most of your predictions and information turns out to be wrong. I don’t understand how you still making videos
Unsubscribe and stop watching. Stay well.
You really think I am subscribed to this channel? lol
I am actually doing a favor by telling him that he should do some research before talking. Enjoy being misinformed.
well said Vince,keep making your videos and keeping us informed ..@@VinceGaetano
Exactly he’s talking so much nonsense and the rates will come down a quarter this January and then slowly more and more from there on but very slowly
Like your comment on the stress test.. it should be abolished for renewals..
When I renewed, the bank agent told me that the bank knew that many people couldn’t shop for mortgages as they might not qualify. As a result, they raised rates for renewals as people were in fact trapped by the stress test.. keep up the good work!!
Banks should be investigated
Stress test them or remove it for everyone. Can’t continue to have a two tier system riddled with fraud.
I am worried about job security , everything else will follow, companies have their employees afraid to speak up and leave
you shouldn't be allowed to use the food bank if you're a home owner.
EXACTLY !! 👌👌
you dont have to show ANY PROOF of bank accounts to claim food bank ,just show up..Thats why you get all those international students there ,they are inflating the numbers folks ...If you can afford the school ,you can afford food.
🤣 No BNN - The Close reflection today ?
Nice job
Lol!!!.. remove the stress test?… and watch the housing market take off again.
Exactly. Brokers want to make money so they advocate for this
@@MentionBiscuit
These guys aren’t getting it, can’t have a housing market with only top 1% earners that can buy a house. They have obviously forgotten that 75 year graph that shows the median priced house can be purchased by median income earners, and it’s been that way for 71 years, with the exception of the last 4 years. That means a correction is coming for all the clueless brokers that are so marooned they can’t determine whether the hoop is picked or punched.
I’m starting to think Mr.Wise-OL’-Owl is becoming part of that group.
The market needs to return to 3-5 times yearly income, not 9-11. People need to start making 3 times current incomes or housing comes down 40-65% OR a combination.
But currently the two are so dymatically far away from each other it’s going to take a massive market swing to make it happen, something equal to or greater then the US market of 2008. (Which is very likely sooner or latter).
@@Bias_Eh-State_Chronicles Well said!you got it in one! 9-11x a persons yearly income… do Canadians even understand what that means?
Honest agents and brokers will be hurt in all this mess - but they need to clean house and their industry- mega mega fraud got us here and everyone was on the take! They were complicit or turned their heads to it. Time to pay the piper- systems broken and the s--hitters FULL🙈🙉💩
Even the 1% that can “afford” many are having to make major lifestyle changes elsewhere just to be house poor.
People want to brag about the valuation of their million dollar condo or townhome but don’t realize that it will also mean twenty buck loaves of bread! Clown stuff
Great channel. Thanks. toronto
If I hear one more talking head call Inflation “sticky”. …….. they all walk in lockstep. Like the stock market is “choppy” today. At least you all have moved on from “drill down and pull on that thread”. Please - someone be original. The English language can handle it.