It's disgusting that our politicians can just quit like that and escape all accountability for the devastation and suffering they've brought to Canadians.
They do not care, $$$. They are still all getting full pay....no-one quit....thats bs....They are ALL full of it....Typical governments = Decades creating the problems , and decades pretending to fix the problems. $....sick. STOP all immigration NOW, for years to come. Too late, all lies, the damage is done. And it did not start under Turdo... For 150 years home prices went up and down in price properly, 2, 3, 4 % with inflation, job raises....reasonable, slight increases....sometimes minor decreases... all fair and affordable. Starting around the year 2000, prices started to spike up, 25, 50, 100, 200, 300% while interest rates went to almost 0. Same with rent price increases.....crazy prices over the last 10 years....25, 50, over 100% price increases......Over 20 years of kaos. And now look at the mess you greedy government parasites, unions, bankers have created. Mass immigration, major government growth - spending - debt - control..., super low interest rates, mass immigration = crazy housing, rental prices......poor Canada, what a mess created by all you greedy governments, all political parties.....The only way housing prices get back to where they should be is a crash...bring it on.....the sooner the better. Right now, it’s all grossly overvalued. STOP all immigration NOW. Bring on a crash, it will be fun to watch.
Why does every Trudeau solution involve a way to put a Canadian consumer further in debt? "Let me enable you to borrow another $80,000. Canadians are already the most indebted people on the planet. This is like curing alcoholism with Vodka.
Because they work for the Freemasons, not the citizens. Knights Templar invented a protection racket in the 1100s CE, then they got ultra-rich from inventing banking. Today, as the Masons, they own & run the police gangs who plan & stage crimes & car crashes for profit & they own the banks & the country. They push debt slavery torture onto citizens to keep us weak, confused, helpless & often in physical pain. Without gangstalking & debt, they have no power...
Housing has already been in such a precarious position with skyrocketing prices and a shortage of affordable homes. Now, with no clear leadership on the issue, I’m not sure how things are going to stabilize
It’s a bit of a perfect storm, isn’t it? We’ve been dealing with an affordability crisis, low housing inventory, and now this. Without a strong government plan in place, I think we could be heading for some serious issues in the real estate market. What’s scary is how quickly this could spiral into a broader economic problem
Housing is such a critical part of the economy, and without clear leadership, it’s hard to see how things will improve. We’ve already seen cracks in the market. November’s real estate statistics weren’t great
home sales were down across the country, prices have stagnated in many areas, and yet demand for affordable housing has never been higher. It’s like the market is frozen, but people still need places to live.
And the thing is, with no housing minister or finance minister, who’s going to take charge of this mess? There’s no clear policy direction. I mean, we’ve got interest rates that are still high, inflationary pressures, and now uncertainty in leadership. It feels like we’re headed for a real estate crash or, at the very least, a long period of stagnation.
The lack of leadership is going to create even more uncertainty. without a solid housing policy, how are developers supposed to plan new projects? How are banks supposed to determine mortgage policies? Everyone is going to be operating in the dark, which could lead to more hesitation from buyers, sellers, and investors alike. The whole market could just freeze up
I will be forever thankful to you, you changed my life I will continue to speak on your behalf for the world to hear that you saved me from huge financial debt with just a little trade, thank you Jihan Wu you're such a life saver
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's
I'm favoured, 90K every week! I can now give back to the locals in my communities and also support God's work and the church. God bless America,, thank you Mr Jihan Wu😊🎉
You should check insurance for the backyard house??? Keep my walkway clean, oh no I've fallen on your property??? HELLO DEWEY, CHEATHAM AND HOWE and I'll settle for the big house and all your belongings!!!!😮😮
@@carocarochana lot of people under estimate the Caribbean I have been working in Canada and building back in the Caribbean it’s so easy back there when you have the finance
It's crazy if you look at the cost of these homes. It's many times more than the average wage. This and we live in a huge country blessed with emense wood reserves.
When housing was cheaper, governments got out of the way so builders could build. Now the amount of red-tape and taxes there are to build a home is ludicrous. If you want to blame someone for this mess, blame your local city hall for slow-walking and over-taxing construction.
@@ChiblingYes, you can't build-back time. This is why all of this is as urgent as it is. People (young-midlife working people) are losing productive years.
@@ElectronicWasteland-p2xyes this! I have not heard one politician mention this and it bugs me. This and the sheer size of the homes being built. Why do we need monster homes? What’s wrong with 60s style bungalows?
I’m closing in on my retirement and I’d like to move from Regina to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Inflation is around 6.5% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
The main issue in the Canadian housing market is REGULATIONS. I work in construction for a general contractor and you will be amazed seeing at the number of regulations being enforced for new construction. Low carbon concrete, energy efficiency ratings for windows and envelope, electric vehicle chargers in all parking spots, etc., etc. All of these add cost to construction. Guess what? Even with the astronomical and unaffordable housing prices, the cost of following all these regulations is so high that it still does not make sense for developers to move forward with the project. A lot of developments die at the budgeting stage because the cost of construction shows that the project is not profitable. Don’t dream on the cost of housing going down anytime soon. Even with these astronomical market prices, a lot of projects are not financially feasible. Prices dropping would mean new construction would completely stop. The government intervention and regulations without understanding the real financial effects has created a dysfunctional housing market. Put simply, the stupidity of government has resulted in Canadians not being able to afford apartments built in compliance with the government’s regulations 😵💫.
There are 3 major condominiums construction projects in my home city right now that are sitting vacant, half-built with only the concrete poured where the builder simply walked away from it and left it. Prime real estate down town just a big concrete high rise that will probably not be finished for years. The developers all over Ontario and contractors don’t want to touch any new projects because of problems that arise during the build where their profits disappear. Unless you are doing general contracting residential for friends and family/word of mouth, you’re not going to make much doing new build or commercial/industrial buildouts anymore. The major construction corps are about the only companies who have the pockets and can build to completion
@@ColleenCBooks most of the CO2 output from concrete comes from the manufacturing process of cement. Making cement requires very high temperatures, which require to consume a lot of energy, which produces CO2. To meet the green regulations from the government, manufacturers need to reduce the amount of cement in concrete. But cement is what gives concrete its strength. So, to compensate, manufacturers need to add alternate and more expensive materials to concrete like slag, silica fume, or fly ash. Even with this, concrete with low cement content takes longer to gain strength. We can’t built and pour the 10th floor, if the concrete on the 9th floor has not gained sufficient strength. The result: low carbon regulations on concrete make the material more expensive and make construction overall more expensive as well because it negatively impacts the schedule. Concrete will take longer to gain enough strength, so the building will take longer to build. In Alberta, concrete manufacturers have actually started to pump CO2 underground in gigantic holes left from oil extraction. This is to “compensate” and make their concrete production more carbon neutral to meet regulations. As you can imagine, an operation like that costs millions. When you buy an apartment in Canada, you are paying for all that craziness. Concrete manufacturers are not going to subsidize these crazy operations, and they shouldn’t. At the end, the cost to follow regulations are paid by the consumer.
@@Jimminityjabooboo yes, in Vancouver, most of the new residential projects are being built or financed by “BC Housing”, which is basically the provincial government. The government has added so many regulation, which has created a market so absurd, that new residential construction is not profitable anymore. If it is not profitable, it cannot be done by the private industry. The result: only government, which can operate at a loss, can undertake residential construction now. The government is building residential rental housing, with our taxpayers money. Financially, these are not profitable projects. But hey, when something being “not profitable” or “not financially sensible” has ever stoped government? 😅
Housing costs are stupid high where I live. Rentals are impossible to find, and here in my town of 14000 people we have over 800 Air BnB’s that sit empty while families are forced to live in hotel rooms. Change the Air BnB laws, for starters.
Jon, you're one of the few realtors who truly deserves our respect (unlike the others who just stir up FOMO). If you were in Alberta, I'd definitely choose you to help me buy a house (once prices normalize, of course). I'm a renter by choice and have a solid understanding of economics. I'm just patiently waiting for the right time to scoop a nice house. Anyone with basic financial knowledge can see what's on the horizon. Godspeed!
what amazes me is a guy on a 60 acre lot who built a new house for himself, can't turn his old manufactured home into a rental but was forced to sell it or face fines since they decided 2 houses were the max he could have. but on a 1/4 acre lot my sister can add a ADU. we simply have to much government rules and regs and they get worse daily because they need to show they are worth the money
It’s the Canadian dream! 😂 Remember Scott McGilvrey’s show in the mid 2000s where a young couple would buy more house than they could afford and rent the basement? What a dream..💩
Back yard suite... insulated shed with an extension cord, bbq, sleeping bag and bucket for a toilet work? Anyways, these are municipal issues, as in how many actually allow these to be built? Not many....you can't even get municipalities to allow low cost mobile home on lots or parks anymore, or stop them from shutting the ones already operating down.
@@johnnyIongstocking128 look it's Jon Flynn posting under his fake acount only seconds after he posts the video. You are a sad little man Jon. How many more agents are you going to lose in 2025?
There should not be any fees for building permits. It's like going to the hardware store and paying for the shopping cart. They get property tax based on the improvements to the property, so they are essentially double dipping. Perhaps a way to keep property taxes artificially low by shifting the revenue burden to builders.
This video highlights such an important perspective that often gets overlooked. It’s refreshing to see someone unpack these ideas with depth and clarity, challenging the conventional narratives. The points raised here encourage critical thinking and inspire a deeper exploration of the subject. Thank you for sharing such valuable insights!
All the housing bulls celebrating the drop in interest rates is completely ignoring the rapidly rising unemployment rate, and collapsing GDP. Without a return of international investors, unemployed/underemployed Canadians aren't going to be buying homes.
We have this thing that spreads across most of the country - it's called the boreal forest and it's comprised of trees. It produces many smallish trees, black spruce, trembling aspen, jack pine etc. These trees can now be used to mass produce composite mass timber homes in 100% hydroelectric facilities. These homes are beautiful, fast to put up and mass produced. The problem is... framers and drywallers will have to retrain and do something else for a living AND timber frame homes are far superior to conventional stick frame homes and will cause the value of these stick frames to plummet. As with everything in Canada - the higher ups in established corporations don't want things to change and they lobby the gov't (even the Conservatives) to prevent competition from newer companies with better technology through regulatory measures. This is the case across the board. It's disgusting.
@@ADobbin1 no longer faster or cheaper to build. mass timber homes are prefab into components and assembled on site. They take a quarter of the time to build and require 1/3 of the labor force when compared to a conventional build.
@@thestarseedscompassthestar7282oh buddy please You can only build mid-rise structures with these methods Most urban construction projects are towers or massive multifamily residential development with multiple hundreds of units. Given the cost of the land you need to build more than 12-20 apartment building suites to make a project profitable. And custom home owners are not building there mansions out of prefab...
A loan of $80,000 to build a secondary home in someone's backyard is a drop in the bucket because it will cost a lot more. I asked a builder a few months ago what it would cost to put an addition on to a house for a suite and without plumbing, he quoted me $$350 per sq foot. At a minimum, without plumbing and a kitchen, it would cost $280,000. Now, put in a bathroom and a kitchen and he said you're looking at $450.00 per sq ft. which would cost a minimum of $360,000. An $80,000 loan means you'd have a mortgage of $280,000 which isn't peanuts and puts mortgage payments up over $1,700 per month which is not affordable housing for an aging parent - in my opinion.
Aside from GTA condos, everything is rising. As the dollar sinks, real estate goes up. In times of high inflation and poor government nothing beats real estate.😊
@@mkyhou1160 Says who? Just because prices are up off the absolute pit of despair in August doesn't mean it's a hot market, nor that it's a permanent trend.
@ lol, you keep hoping for doom, while the rest of us, who remember the 1970s (which are repeating), keep getting richer. It’s basic knowledge, when the dollar crashes, land retains its value so it rises. The rich get richer and the non land owning classes get poorer. That’s why inflation / poor governments suck overall, the productive sectors decline, while the non productive sectors like housing, go up.
Lets see who is getting richer. I no longer own a home and now i rent a house that was for sale for 4.5 million and I pay 100k per year rent. I'm safely invested at 6.8 percent for 5 years earning just less then 500k per year. If go and buy a house for 4.5 mill which will have property tax of 30k per year so a grand total of 150k over the 5 years. I will earn 2.5 mill over the 5 year period and pay 500k in rent. Try and tell me I will be richer buying the same house for 4.5 and paying 30k per year in property taxes then staying locked in where I'm at and paying the rent I'm paying . At best house price will go sideways for next 5 years so I will be head of the game over 2 million renting for the next 5 years but I guess if I bought the house will be worth 6.650 in 5 years is that what your saying ? If not I guess I will be far richer renting
YUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUP!!!!!!!!!!!!!!! Any time I mention this on reddit in r/edmonton everyone down votes me. My buddy bought his house in Edmonton in 2007 for 240k it is worth 227k today. I bought mine for 600k in 2014 it is worth 580K today. Edmonton is cheap for a reason. Houses are a depreciating asset. Unless you bought one of the dips, you are under water in Edmonton. "Edmonton" the only place in the world where you can buy a house for the same price as your parents did!
@@4spooky8u yes. It was one of the many tops of the market. I did not know. I sold my duplex for a 40k profit and rolled it into this place. A few years later prices crashed and I was 80k under water . I owe less than 300k now. So I can't go many other places for that. And it has a basement suite that brings in $1200 a month. It backs on to a lake where everyone from the neighbourhood comes to walk around. Probably stuck here for life. Only have 12 years to go on the mortgage. They ported it over from the previous place
Canada with millions of square km of open land and the solution to housing is to build a bunkie in the backyard of a 1300 sq ft bungalow that sits on a 1/16 acre lot with no parking
It’s the clash between the political ideologies between Trump and Trudeau. If Trudeau is set to face 25% tariff, it will lead to mass unemployment, what happens when unemployment rise?, price of houses will reduce. So in the perspective of a prospective buyer aspirant, the longer the Trudeau stays and face that 25% tariff , the harder the price will go down.
these are the deportations the last few years... 7,500 people in 2021. cost to taxpayers: $43 million. 8,300 people were deported in 2022. cost to taxpayers: $53 million. 15,000 in 2023. cost to taxpayers: $58 million. ....but you're saying 2024 will be 4.9 MILLION... that's a wee tarded.
@4spooky8u I think we need to cope with the fact that the ones here aren't leaving. Only solution now is to curb the flow of new arrivals. Back to sensible levels with percentage caps per country.
I live in Chilliwack, (Fraser Valley) and the construction industry, such as, Condo complex’s, housing development and other projects are absolutely through the roof here! Why would lumber sales be down, when building is insane here!!! I don’t understand why that post is downgrading construction in the Fraser Valley??!!! It’s crazy here!!!!
a soon as CAD will double in value, prices will drop. Unfortunatly its losing value, so prices will be going up. For everything, not just housing. Venezuela style. $20 bread coming soon.
The only thing driving home prices up right now is emotions. Little FOMO waves caused by the Bank of Canada's rate cuts. It's all temporary because in reality, mortgage rates are about the same today than a year ago.
How much do prices have to increase in a year before you start removing from your battery meter? Prices are up 50k from August and you haven't removed a single bar yet.
I am not sure if prices are up as many agents have hoped for, but I have received a couple of calls with respect to assignment sales including price reduction and give away down
I personally know 3 people who built these second shoe boxes on the same lots. 2 of them are in rural areas and both came in at 400K well and septic. included. The 3rd one was a laneway house in Toronto. Currently at 500K and not finished yet. Yikes! Under 100 sq. ft.
Well where was the commentary from the real estate sector when pollivere put our housing on the stock market and sold off all the non market housingv which artificially inflated real estate into comprising way to much of our GDP, which makes legislative correction impossible without triggering a large recession. For almost 20 years the real estate sector and developers and landlords have reaped the benefits of this system and now that it is crumbling, real estate people are sounding alarms? Ya'll didn't care while it was profitable even though pollivere and Harper were told these policies would lead to unchecked housing costs and disenfranchisement of future generations.
The fall economic statement also said the CRA will finally have its mortgage fraud tool in place by early 2025. Finally the playing field will be leveled. See how many less buyers will be active in the spring.
Banks continue to issue credit to people who can and will never pay. As long as that situation continues, then the song gets more verses. Pay the band for overtime.
Political leaders, business conglomerates, property managers, builders, multi property owners who never live in them, and only buy them for positive cash flow from the multiple homes that they/their families own, and all the city municipalities and councils with their red tape and support to the real estate mafia including builders from Ontario and BC, and the laziness of people who never question WHY we have to pay 80% of our monthly take home salary towards house rent, and cannot afford food from any grocery store controlled again by the big business bullies, and even though middle class Canadians are working so hard, but still unable to put on the table for their families anymore, these are the actual reasons for the Canadian middle class misery and total collapse. No matter which leader or party comes to power, if this accountability is taken for granted, it will be a disaster again just like the last 10-15 years, and Canada will be only in history books and a sorry story destroyed by illogical politics.
Unless our country plans out from level of village to city to province to country. Which sounds like a dictatorship. City will always have more jobs, needs more infrastructure, then obviously needs more home. Unfortunately that is truth of living. You can’t change nature of young parents young professionals. Then what’s missing in Canada ? For Toronto where I am, Only the luxury condos are being built at the moment as skyscrapers. Not affordable not rental friendly market nor homes. This city needs government planned ugly square apartments that are not 100 years old or about to collapse. Which provides clean, new, sustainable, maybe not cheap but affordable home for young people and retired people who can then sell their old run down million dollar home and land is ready for next project.
The average rent is nearly $2200, are you guys crazy what is the average yearly wage after taxes? What is the yearly average electricity/utilities bill? Yearly average condo bill? Yearly average grocery bill?
There was no price increase in Ontario. Our boards released their information and where I’m from it decreased almost 6%. In Toronto the sales are tanking.
Collapse is imminant. War time effort needed for building. Home prices high becsuse interest rates were negstive for +10 years, and little supply, and demand high due to new foreign ghost buyers. Not a capitalistic system is it?
My family has fought for years to be able to build second homes on two properties (I’m talking 50 plus acres on farms) and they said no, only one home allowed. WTF is this!?
House prices were driven by low interest rates AND during COVID because of free money and extremely loose regulations. When people were allowed to bid 50,000 over asking and actually get a mortgage. It not good
Try $100,000 to $200,000 for these bidding wars. There was plenty and still are being done. They need to list houses for market value and leave it at that. Some people are now stuck with houses that are worth less than what they paid.
Canada need to go back to the days. When a bedroom had bunkbeds. Now a bedroom is like apartment.. with one kid sleeping in it. The immigrants could turn four bedrooms into four different families living in it. Different cultures.
For 2025, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
Given current recession pressures, it is unlikely that the stock will yield substantial returns in the near term. However, it may be a suitable investment opportunity. I will monitor market conditions and consider purchasing when there is an improvement in the relevant economic indicators, any idea which stocks this may be?
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
I have stayed away from all of the issues that the erratic market presents. Today, reading, research, patience, and seeking guidance when necessary are the greatest ways to break into the market. I merely copy ''Stacy Lynn Staples'', a CFA, whose actions I witnessed on Bloomberg Business News because I am unable to handle my portfolio owing to the nature of my profession. Ever since, everything has been easy. I recommend researching her credentials further.
That 80k housing solution is conceding to the fact housing will remain unaffordable for the forseable future. Wouldnt recommend unless people are paying with cold hard cash. Only other solutions are following the steps of the great depression which was: Cramming in with many family members, and what we will call the modern day shantytowns "Trudeauville"
Exceptional video!🔥💯🔥 I'm making a sincere request for help from anyone who can offer guidance or support. I've been trying to trade on my own, but I've incurred significant losses, and I'm not sure what I'm doing wrong.
Bitcoin has been the most profitable investment at the moment but if only you could trade with professional broker. that will work you through the process needed.
I'm shocked you mentioned and recommended this wonderful woman Ella, I must say she's very good and her trading program has been insightful, I'm most honored to have been part and a full-time beneficiary of her strategic signals
You don't need to be shock because I'm also a huge beneficial of expert Ella. Expert Ella is a world wide cryptocurrency trader and investor expert, The whole world is really talking about her good work
Im looking in min southern ontario 1 hr from T.O When should we buy? When do you think it will drop most, (we sold Jan 2021 and hung on to our cash, became lenders)
So the average house price in Canada is 485k USD which is probably cheaper now than in USA, but it's hard to say because they use median. People should stop saying that housing in US is half the price.
There's no way to restore affordable homes, No government can, government can cut taxes, cut fees, cut red tape, what you can not cut is cost, land prices, labor cost, materials cost, and other costs, The builder set the price, supply and demand set the prices, locations set the price, and others set the prices, owner of the home set the price, we've all ready seen homes come back onto the market sell below purchase price you may build more houses, you may meet the houses targets, but what you can not do is return home prices back to affordable because current home owners world lose value on their home,
No one's going to miss our housing/immigration minister 😂😂. Seems like a tight situation where you want affordable homes but if they can't afford to build them and there's no supply they're not affordable. And trying to buy a home with three times by income seems like it's never going to happen
It is really good to have these graph BUT it would be way better to have them segmented by provinces or even major cities. I suspect that by averaging all Canada’s numbers the specific Toronto’s, Montreal’s, and Vancouver’s numbers are masked.
Houses will not come due to cost of materials and labours going up. Canadian dollars loose it's currency value therefore the hard assets will become more expensive to purchase with Canadian dollars and the cost of purchasing materials to build or renovate will go up. Labour market will increase their cost as they have to adjust with inflation and provide necessity for their families. Canadian parliament will change the leadership to conservatives and the optimistic for investors will growth, therfore all the cards for prices to come down are blocked, unless a huge recession would happen, however the bank of Canada policy to continued decrease of interest rates will avoid the home owners to force out of their homes , therfore there will be no immediate urgency to sell their homes below or way below market values. For those buyers that are waiting for collapse of real estate market and purchasing homes way below their market value, unfortunate it's only a wishful dream.
Real-estate is already screwed.... if you rely on housing to stay at astronomical levels to keep your head up.... it's not housing that's screwed... you are.
There is still demand that is higher than the supply. However, if immigration cuts come true, then it may affect the housing market by reducing demand. However, with this large deficit, are we going to have higher inflation? With higher inflation, all prices are normally going up
Not only housing is crashing, the dollar is rapidly CRASHING, the stock market is crashing, I expect there will a run on the banks as delinquencies on mortgages and personal credit increase, Peter Sellers couldn’t have done it better!
Looking at your chart the best time to buy was 2021 when your interest payment would be the lowest and rent was the lowest. You know the time you told everyone not to buy.
I only started making videos at the end of 2021, like the last week or 2. Do you think buying at peak prices with low interest rates is a good time? I'd prefer bottomed out prices and high interest rates.
Can you explain how houses going down 3% and rates 6% instead of 1.8% is going to save anyone money. Unless you are buying the house outright, your strategy is terrible.
@jonflynn I rather pay an extra $20000 and pay $2000 less a month in interest over 5 years. And if the other option to pay the $20000 less is to wait a year so I paid $30000 in rent to someone else I'm even better off.
i bought a duplex in sooke march 2020 for 680K... rented it with a 2k/month cashflow for 2 years and sold it for 895k. john and his followers were convinced i was doomed.
@roseoverdose6451 I bought my house in 2021 at 1.89% interest. I got it late in the year got the best of both worlds cheap house at good interest rate. Right now I'm set to pay off 25% of the house after the 5 years and the place has gone up I'm value by 20%. So I've made over $100000 by just buying a house rather than pay rent. Then someone moron popped up on my feed saying you should wait to buy a house. Just pay rent forever. Like if renting is not profitable for the landlord they won't rent it to you. Right now 70% of my payment goes to my principal not interest on my loan. If I considered my interest to be rent I'm paying a couple hundred a month in rent.
The reason for the high cost of everything is inflation. Prices, over time, always go up because inflation, over time, always goes up. The government collapse will not bring down inflation, therefore prices will remain high. Simple.
you are incorrect, the collapse could cause peaking interest rates , which will drive prices into the ground - similar to the late 80s / early 90s . it will be the high interest rates that crush the price of homes, they will spike interest rates to unseen levels to combat out of control inflation .. you are right about inflation - but how they control inflation is interest, and its interest that breaks the market
@@ryanhill8567 fair point, but the overall trend for currency, all fiat currencies, is down. It takes more dollars to buy the same goods over time. Yes, the value fluctuates, but the trend is always down.
Best time for end users. For anyone pressed with their mortgage I would recommend lease their property and move yourself in cheaper accommodation. Plenty of sweet rentals in the market for less. At least you can claim some write offs on your property.
It's disgusting that our politicians can just quit like that and escape all accountability for the devastation and suffering they've brought to Canadians.
Yeah, maybe Joe Biden can pardon them. Totally corrupt system.
They do not care, $$$. They are still all getting full pay....no-one quit....thats bs....They are ALL full of it....Typical governments = Decades creating the problems , and decades pretending to fix the problems. $....sick. STOP all immigration NOW, for years to come. Too late, all lies, the damage is done. And it did not start under Turdo... For 150 years home prices went up and down in price properly, 2, 3, 4 % with inflation, job raises....reasonable, slight increases....sometimes minor decreases... all fair and affordable. Starting around the year 2000, prices started to spike up, 25, 50, 100, 200, 300% while interest rates went to almost 0. Same with rent price increases.....crazy prices over the last 10 years....25, 50, over 100% price increases......Over 20 years of kaos. And now look at the mess you greedy government parasites, unions, bankers have created. Mass immigration, major government growth - spending - debt - control..., super low interest rates, mass immigration = crazy housing, rental prices......poor Canada, what a mess created by all you greedy governments, all political parties.....The only way housing prices get back to where they should be is a crash...bring it on.....the sooner the better. Right now, it’s all grossly overvalued. STOP all immigration NOW. Bring on a crash, it will be fun to watch.
Would you rather they stayed there and kept "working" on it?
They are still receiving $200K salary until the end of 2025, from our tax money. Imagine that
The real bonus is Pierre Polivere will take a bath on his 4 rental houses when he sells them at a lose.
Why does every Trudeau solution involve a way to put a Canadian consumer further in debt? "Let me enable you to borrow another $80,000. Canadians are already the most indebted people on the planet. This is like curing alcoholism with Vodka.
Its worked for russia for the last 800 years.
@@ADobbin1 LOL!
It's insanity on top of absurdity.
I prefer brandy, especially French.
Because they work for the Freemasons, not the citizens. Knights Templar invented a protection racket in the 1100s CE, then they got ultra-rich from inventing banking. Today, as the Masons, they own & run the police gangs who plan & stage crimes & car crashes for profit & they own the banks & the country. They push debt slavery torture onto citizens to keep us weak, confused, helpless & often in physical pain. Without gangstalking & debt, they have no power...
Housing has already been in such a precarious position with skyrocketing prices and a shortage of affordable homes. Now, with no clear leadership on the issue, I’m not sure how things are going to stabilize
It’s a bit of a perfect storm, isn’t it? We’ve been dealing with an affordability crisis, low housing inventory, and now this. Without a strong government plan in place, I think we could be heading for some serious issues in the real estate market. What’s scary is how quickly this could spiral into a broader economic problem
Housing is such a critical part of the economy, and without clear leadership, it’s hard to see how things will improve. We’ve already seen cracks in the market. November’s real estate statistics weren’t great
home sales were down across the country, prices have stagnated in many areas, and yet demand for affordable housing has never been higher. It’s like the market is frozen, but people still need places to live.
And the thing is, with no housing minister or finance minister, who’s going to take charge of this mess? There’s no clear policy direction. I mean, we’ve got interest rates that are still high, inflationary pressures, and now uncertainty in leadership. It feels like we’re headed for a real estate crash or, at the very least, a long period of stagnation.
The lack of leadership is going to create even more uncertainty. without a solid housing policy, how are developers supposed to plan new projects? How are banks supposed to determine mortgage policies? Everyone is going to be operating in the dark, which could lead to more hesitation from buyers, sellers, and investors alike. The whole market could just freeze up
$80k loan.. might just be enough to pay all the permits and long list of inspections needed to make a shed with a toilet in your backyard.
All corruption
Exactly. Everyone has their hand out!
So true.
Hit 240k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in September 2024.,.
I would really love to know how much work you did put in to get to this stage
I will be forever thankful to you, you changed my life I will continue to speak on your behalf for the world to hear that you saved me from huge financial debt with just a little trade, thank you Jihan Wu you're such a life saver
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of life's
His guidance allowed me to restructure my retirement plan, resulting in an estimated $700,000 more by the time I retire.
I'm favoured, 90K every week! I can now give back to the locals in my communities and also support God's work and the church. God bless America,, thank you Mr Jihan Wu😊🎉
Rats are leaving Ship !
While rats flood in from elsewhere
Rats only leave when its sinking.
Master splinters
Rats and snakes
We live in a giant empty country and housing solutions are building in backyards. Sigh.
You should check insurance for the backyard house??? Keep my walkway clean, oh no I've fallen on your property??? HELLO DEWEY, CHEATHAM AND HOWE and I'll settle for the big house and all your belongings!!!!😮😮
This country is a hot mess! I'm leaving this dump come January!
me to- usa!
where are you going? you're leaving at the bottom. it's going to get better when the new gov. is in.
@@roseoverdose6451 doubt it. I'm going back home to the Caribbean. Been here since 2009, made enough money to buy a house cash back home.
@@carocarochana lot of people under estimate the Caribbean I have been working in Canada and building back in the Caribbean it’s so easy back there when you have the finance
@@roseoverdose6451Conservatives are not going to save you.
The idea behind The Elite Society's Money Manifestation ebook really blew my mind. It’s like stumbling upon a hidden shortcut to financial abundance
What is that?
It's crazy if you look at the cost of these homes. It's many times more than the average wage. This and we live in a huge country blessed with emense wood reserves.
When housing was cheaper, governments got out of the way so builders could build. Now the amount of red-tape and taxes there are to build a home is ludicrous. If you want to blame someone for this mess, blame your local city hall for slow-walking and over-taxing construction.
Not to mention the psychological and social costs of making life hopeless for all future generations.
But you could live in a glorified shed. All good.
@@ChiblingYes, you can't build-back time. This is why all of this is as urgent as it is. People (young-midlife working people) are losing productive years.
@@ElectronicWasteland-p2xyes this! I have not heard one politician mention this and it bugs me.
This and the sheer size of the homes being built. Why do we need monster homes? What’s wrong with 60s style bungalows?
I’m closing in on my retirement and I’d like to move from Regina to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Inflation is around 6.5% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
The main issue in the Canadian housing market is REGULATIONS. I work in construction for a general contractor and you will be amazed seeing at the number of regulations being enforced for new construction. Low carbon concrete, energy efficiency ratings for windows and envelope, electric vehicle chargers in all parking spots, etc., etc. All of these add cost to construction. Guess what? Even with the astronomical and unaffordable housing prices, the cost of following all these regulations is so high that it still does not make sense for developers to move forward with the project. A lot of developments die at the budgeting stage because the cost of construction shows that the project is not profitable.
Don’t dream on the cost of housing going down anytime soon. Even with these astronomical market prices, a lot of projects are not financially feasible. Prices dropping would mean new construction would completely stop.
The government intervention and regulations without understanding the real financial effects has created a dysfunctional housing market. Put simply, the stupidity of government has resulted in Canadians not being able to afford apartments built in compliance with the government’s regulations 😵💫.
I've seen new home construction around here and it might last 20 years.
There are 3 major condominiums construction projects in my home city right now that are sitting vacant, half-built with only the concrete poured where the builder simply walked away from it and left it. Prime real estate down town just a big concrete high rise that will probably not be finished for years. The developers all over Ontario and contractors don’t want to touch any new projects because of problems that arise during the build where their profits disappear. Unless you are doing general contracting residential for friends and family/word of mouth, you’re not going to make much doing new build or commercial/industrial buildouts anymore. The major construction corps are about the only companies who have the pockets and can build to completion
What on God’s green earth is “low carbon concrete” 😵💫
@@ColleenCBooks most of the CO2 output from concrete comes from the manufacturing process of cement. Making cement requires very high temperatures, which require to consume a lot of energy, which produces CO2. To meet the green regulations from the government, manufacturers need to reduce the amount of cement in concrete. But cement is what gives concrete its strength. So, to compensate, manufacturers need to add alternate and more expensive materials to concrete like slag, silica fume, or fly ash. Even with this, concrete with low cement content takes longer to gain strength. We can’t built and pour the 10th floor, if the concrete on the 9th floor has not gained sufficient strength.
The result: low carbon regulations on concrete make the material more expensive and make construction overall more expensive as well because it negatively impacts the schedule. Concrete will take longer to gain enough strength, so the building will take longer to build.
In Alberta, concrete manufacturers have actually started to pump CO2 underground in gigantic holes left from oil extraction. This is to “compensate” and make their concrete production more carbon neutral to meet regulations. As you can imagine, an operation like that costs millions. When you buy an apartment in Canada, you are paying for all that craziness. Concrete manufacturers are not going to subsidize these crazy operations, and they shouldn’t. At the end, the cost to follow regulations are paid by the consumer.
@@Jimminityjabooboo yes, in Vancouver, most of the new residential projects are being built or financed by “BC Housing”, which is basically the provincial government. The government has added so many regulation, which has created a market so absurd, that new residential construction is not profitable anymore. If it is not profitable, it cannot be done by the private industry.
The result: only government, which can operate at a loss, can undertake residential construction now. The government is building residential rental housing, with our taxpayers money. Financially, these are not profitable projects. But hey, when something being “not profitable” or “not financially sensible” has ever stoped government? 😅
Housing costs are stupid high where I live. Rentals are impossible to find, and here in my town of 14000 people we have over 800 Air BnB’s that sit empty while families are forced to live in hotel rooms. Change the Air BnB laws, for starters.
Yep, something needs to be done
Jon, you're one of the few realtors who truly deserves our respect (unlike the others who just stir up FOMO). If you were in Alberta, I'd definitely choose you to help me buy a house (once prices normalize, of course).
I'm a renter by choice and have a solid understanding of economics. I'm just patiently waiting for the right time to scoop a nice house. Anyone with basic financial knowledge can see what's on the horizon.
Godspeed!
what amazes me is a guy on a 60 acre lot who built a new house for himself, can't turn his old manufactured home into a rental but was forced to sell it or face fines since they decided 2 houses were the max he could have. but on a 1/4 acre lot my sister can add a ADU. we simply have to much government rules and regs and they get worse daily because they need to show they are worth the money
So I take out an $80K debt loan to build a secondary suite so I can have strangers live in my back yard. lol. That's government logic for you.
It’s the Canadian dream! 😂 Remember Scott McGilvrey’s show in the mid 2000s where a young couple would buy more house than they could afford and rent the basement? What a dream..💩
And will there be a market for a house with a house in the back yard?
Strangers who won’t even pay you rent!
Back yard suite... insulated shed with an extension cord, bbq, sleeping bag and bucket for a toilet work? Anyways, these are municipal issues, as in how many actually allow these to be built? Not many....you can't even get municipalities to allow low cost mobile home on lots or parks anymore, or stop them from shutting the ones already operating down.
Might as well just park a camping trailer back there. Much cheaper
Great content Jon! I really think you’re onto something. I finally realized you were right about the market after I lost 100k on my property.
Lmao yeah right. What happened to the real Johnny
Thanks for the comment and support
lol
@@bhaalgornI am the real Johnny. I just realized Jon was right all along, open your eyes.
@@johnnyIongstocking128 look it's Jon Flynn posting under his fake acount only seconds after he posts the video. You are a sad little man Jon. How many more agents are you going to lose in 2025?
There should not be any fees for building permits. It's like going to the hardware store and paying for the shopping cart. They get property tax based on the improvements to the property, so they are essentially double dipping. Perhaps a way to keep property taxes artificially low by shifting the revenue burden to builders.
This video highlights such an important perspective that often gets overlooked. It’s refreshing to see someone unpack these ideas with depth and clarity, challenging the conventional narratives. The points raised here encourage critical thinking and inspire a deeper exploration of the subject. Thank you for sharing such valuable insights!
All the housing bulls celebrating the drop in interest rates is completely ignoring the rapidly rising unemployment rate, and collapsing GDP. Without a return of international investors, unemployed/underemployed Canadians aren't going to be buying homes.
We have this thing that spreads across most of the country - it's called the boreal forest and it's comprised of trees. It produces many smallish trees, black spruce, trembling aspen, jack pine etc. These trees can now be used to mass produce composite mass timber homes in 100% hydroelectric facilities. These homes are beautiful, fast to put up and mass produced.
The problem is... framers and drywallers will have to retrain and do something else for a living AND timber frame homes are far superior to conventional stick frame homes and will cause the value of these stick frames to plummet.
As with everything in Canada - the higher ups in established corporations don't want things to change and they lobby the gov't (even the Conservatives) to prevent competition from newer companies with better technology through regulatory measures. This is the case across the board. It's disgusting.
They use the toothpick frames because its cheaper and faster to build and easier to make additions and do reno's.
@@ADobbin1 no longer faster or cheaper to build. mass timber homes are prefab into components and assembled on site. They take a quarter of the time to build and require 1/3 of the labor force when compared to a conventional build.
@@thestarseedscompassthestar7282oh buddy please
You can only build mid-rise structures with these methods
Most urban construction projects are towers or massive multifamily residential development with multiple hundreds of units.
Given the cost of the land you need to build more than 12-20 apartment building suites to make a project profitable.
And custom home owners are not building there mansions out of prefab...
A loan of $80,000 to build a secondary home in someone's backyard is a drop in the bucket because it will cost a lot more. I asked a builder a few months ago what it would cost to put an addition on to a house for a suite and without plumbing, he quoted me $$350 per sq foot. At a minimum, without plumbing and a kitchen, it would cost $280,000. Now, put in a bathroom and a kitchen and he said you're looking at $450.00 per sq ft. which would cost a minimum of $360,000. An $80,000 loan means you'd have a mortgage of $280,000 which isn't peanuts and puts mortgage payments up over $1,700 per month which is not affordable housing for an aging parent - in my opinion.
@trudyedgecomb1045 more for family I would think. Like retired parents or adult children.
Canada real estate is already crashing. No buyers in Toronto Condos and Outside GTA
Aside from GTA condos, everything is rising. As the dollar sinks, real estate goes up. In times of high inflation and poor government nothing beats real estate.😊
@@mkyhou1160 Says who? Just because prices are up off the absolute pit of despair in August doesn't mean it's a hot market, nor that it's a permanent trend.
@ lol, you keep hoping for doom, while the rest of us, who remember the 1970s (which are repeating), keep getting richer. It’s basic knowledge, when the dollar crashes, land retains its value so it rises. The rich get richer and the non land owning classes get poorer. That’s why inflation / poor governments suck overall, the productive sectors decline, while the non productive sectors like housing, go up.
Let the real estate fence sitter sit and watch opportunities once again pass them by!
Lets see who is getting richer. I no longer own a home and now i rent a house that was for sale for 4.5 million and I pay 100k per year rent. I'm safely invested at 6.8 percent for 5 years earning just less then 500k per year. If go and buy a house for 4.5 mill which will have property tax of 30k per year so a grand total of 150k over the 5 years. I will earn 2.5 mill over the 5 year period and pay 500k in rent. Try and tell me I will be richer buying the same house for 4.5 and paying 30k per year in property taxes then staying locked in where I'm at and paying the rent I'm paying . At best house price will go sideways for next 5 years so I will be head of the game over 2 million renting for the next 5 years but I guess if I bought the house will be worth 6.650 in 5 years is that what your saying ? If not I guess I will be far richer renting
YUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUP!!!!!!!!!!!!!!! Any time I mention this on reddit in r/edmonton everyone down votes me. My buddy bought his house in Edmonton in 2007 for 240k it is worth 227k today. I bought mine for 600k in 2014 it is worth 580K today. Edmonton is cheap for a reason. Houses are a depreciating asset. Unless you bought one of the dips, you are under water in Edmonton. "Edmonton" the only place in the world where you can buy a house for the same price as your parents did!
it just goes to show that it doesn't matter how bad housing affordability gets, nobody wants to move to Edmonton
You spent $600,000 on a house in Edmonton in 2014? Why? The average nationwide in 2015 was around $400,000.
@@4spooky8u yes. It was one of the many tops of the market. I did not know. I sold my duplex for a 40k profit and rolled it into this place. A few years later prices crashed and I was 80k under water . I owe less than 300k now. So I can't go many other places for that. And it has a basement suite that brings in $1200 a month. It backs on to a lake where everyone from the neighbourhood comes to walk around. Probably stuck here for life. Only have 12 years to go on the mortgage. They ported it over from the previous place
@@soulstorm9716 at least the oilers rock
The food is really good in dedmonton.
We need legislation to make housing a human right and not a commodity tgat can be owned by big corporations. Therein lies the problem!
agreed but big corporations are in bed with the gov...housing will be a privilege
Canada with millions of square km of open land and the solution to housing is to build a bunkie in the backyard of a 1300 sq ft bungalow that sits on a 1/16 acre lot with no parking
The market would have been better without this housing minister
Governments = don't know BASIC MATH MORTGAGES CALCULATION 😂😂😂
It’s the clash between the political ideologies between Trump and Trudeau. If Trudeau is set to face 25% tariff, it will lead to mass unemployment, what happens when unemployment rise?, price of houses will reduce. So in the perspective of a prospective buyer aspirant, the longer the Trudeau stays and face that 25% tariff , the harder the price will go down.
Having any normalcy in a market that is insanely inflated is sad.
4.9 mill ppl up for deportation. Thats a lot of supply on the marker
that's def. not the correct number... share your source.
these are the deportations the last few years...
7,500 people in 2021. cost to taxpayers: $43 million.
8,300 people were deported in 2022. cost to taxpayers: $53 million.
15,000 in 2023. cost to taxpayers: $58 million.
....but you're saying 2024 will be 4.9 MILLION... that's a wee tarded.
@@roseoverdose64514.9M visas expire next year. Not so much as deportations as hoping they voluntarily leave (they won’t and nor will the be forced to)
@4spooky8u I think we need to cope with the fact that the ones here aren't leaving. Only solution now is to curb the flow of new arrivals. Back to sensible levels with percentage caps per country.
Can't wait. I am sick and tired of seeing newcomers living a better life than Canadian citizens.
The USA is a mess, too.
It's. Mess everywhere.
Why ?
I live in Chilliwack, (Fraser Valley) and the construction industry, such as, Condo complex’s, housing development and other projects are absolutely through the roof here! Why would lumber sales be down, when building is insane here!!! I don’t understand why that post is downgrading construction in the Fraser Valley??!!! It’s crazy here!!!!
Another 50% price reduction is inevitable.
yep
a soon as CAD will double in value, prices will drop. Unfortunatly its losing value, so prices will be going up. For everything, not just housing. Venezuela style. $20 bread coming soon.
you've had too much hopium. drink some water and sit on the couch for a bit.
But when? They can keep this circus show running for longer than you think...
@@edamameme1789homemade bread anyone? 😊
The only thing driving home prices up right now is emotions. Little FOMO waves caused by the Bank of Canada's rate cuts. It's all temporary because in reality, mortgage rates are about the same today than a year ago.
good point, thanks for the comment
How much do prices have to increase in a year before you start removing from your battery meter? Prices are up 50k from August and you haven't removed a single bar yet.
I am not sure if prices are up as many agents have hoped for, but I have received a couple of calls with respect to assignment sales including price reduction and give away down
@@aiqueenla2786 the average price was 650k in August and it is 695k now.
I personally know 3 people who built these second shoe boxes on the same lots. 2 of them are in rural areas and both came in at 400K well and septic. included. The 3rd one was a laneway house in Toronto. Currently at 500K and not finished yet. Yikes! Under 100 sq. ft.
Do you mean 1000 sq ft?
Well where was the commentary from the real estate sector when pollivere put our housing on the stock market and sold off all the non market housingv which artificially inflated real estate into comprising way to much of our GDP, which makes legislative correction impossible without triggering a large recession.
For almost 20 years the real estate sector and developers and landlords have reaped the benefits of this system and now that it is crumbling, real estate people are sounding alarms?
Ya'll didn't care while it was profitable
even though pollivere and Harper were told these policies would lead to unchecked housing costs and disenfranchisement of future generations.
It cost at least 400k to build a 600 sq. Ft. Grany flat. What 80k loan going to do?
Sorry, you overpaid.
The fall economic statement also said the CRA will finally have its mortgage fraud tool in place by early 2025.
Finally the playing field will be leveled.
See how many less buyers will be active in the spring.
The Cons will get rid of this as soon as they get in. It's too rational.
@@Chibling
The conservatives historically are way tougher on crime than any other party.
Ok liberal @@Chibling
more tent encampments in the future I guess
You can't build a garden suite for $80K. Low loan rates is relative
If everyone who needs a home just doesn’t buy and lives on the street, prices will have nowhere to go but down.
Bro, your background game is on point lol
Deal with the loose immigration situation and housing will correct itself.
Canada is the country in wold which has housing and immigration economy.
We need industrial economy
Short term tent rentals in every backyard. That should take care of the lack of affordable housing.
80k to build suite ...now i know why all my neighbors are building without ..
Banks continue to issue credit to people who can and will never pay. As long as that situation continues, then the song gets more verses. Pay the band for overtime.
Political leaders, business conglomerates, property managers, builders, multi property owners who never live in them, and only buy them for positive cash flow from the multiple homes that they/their families own, and all the city municipalities and councils with their red tape and support to the real estate mafia including builders from Ontario and BC, and the laziness of people who never question WHY we have to pay 80% of our monthly take home salary towards house rent, and cannot afford food from any grocery store controlled again by the big business bullies, and even though middle class Canadians are working so hard, but still unable to put on the table for their families anymore, these are the actual reasons for the Canadian middle class misery and total collapse. No matter which leader or party comes to power, if this accountability is taken for granted, it will be a disaster again just like the last 10-15 years, and Canada will be only in history books and a sorry story destroyed by illogical politics.
Unless our country plans out from level of village to city to province to country. Which sounds like a dictatorship.
City will always have more jobs, needs more infrastructure, then obviously needs more home. Unfortunately that is truth of living. You can’t change nature of young parents young professionals.
Then what’s missing in Canada ?
For Toronto where I am,
Only the luxury condos are being built at the moment as skyscrapers. Not affordable not rental friendly market nor homes.
This city needs government planned ugly square apartments that are not 100 years old or about to collapse.
Which provides clean, new, sustainable, maybe not cheap but affordable home for young people and retired people who can then sell their old run down million dollar home and land is ready for next project.
80k loan pays for the foundation maybe! Lol
1100 sq ft garden suite runs 4-500k minimum
The average rent is nearly $2200, are you guys crazy what is the average yearly wage after taxes? What is the yearly average electricity/utilities bill? Yearly average condo bill? Yearly average grocery bill?
Edmonton is the least attractive place in Canada to live. The cost,of housing reflects this and always will
I don't know, NB might have it beat but yeah it's at the top regardless.
There was no price increase in Ontario. Our boards released their information and where I’m from it decreased almost 6%. In Toronto the sales are tanking.
What does a housing minister actually do?
Hanging out at Tim Horton
Collapse is imminant. War time effort needed for building. Home prices high becsuse interest rates were negstive for +10 years, and little supply, and demand high due to new foreign ghost buyers. Not a capitalistic system is it?
My family has fought for years to be able to build second homes on two properties (I’m talking 50 plus acres on farms) and they said no, only one home allowed. WTF is this!?
House prices were driven by low interest rates AND during COVID because of free money and extremely loose regulations. When people were allowed to bid 50,000 over asking and actually get a mortgage. It not good
Try $100,000 to $200,000 for these bidding wars. There was plenty and still are being done. They need to list houses for market value and leave it at that. Some people are now stuck with houses that are worth less than what they paid.
@NancyAdams-rh9kf in my area it wasn't too crazy. Nothing like the GTA where yes, it wasn't uncommon for house to be bid up $200-$300k or even more
Lots of new people came into Canada, no new homes.
200,000+ new homes each year
Canada need to go back to the days. When a bedroom had bunkbeds. Now a bedroom is like apartment.. with one kid sleeping in it. The immigrants could turn four bedrooms into four different families living in it. Different cultures.
@@jonflynn Canada grows by more than a million or more a year. 200 000 is not enough, obviously, if prices keep climbing. Supply and Demand.
For 2025, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
Given current recession pressures, it is unlikely that the stock will yield substantial returns in the near term. However, it may be a suitable investment opportunity. I will monitor market conditions and consider purchasing when there is an improvement in the relevant economic indicators, any idea which stocks this may be?
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
Thats quite Impressive! can you share more info?
I have stayed away from all of the issues that the erratic market presents. Today, reading, research, patience, and seeking guidance when necessary are the greatest ways to break into the market. I merely copy ''Stacy Lynn Staples'', a CFA, whose actions I witnessed on Bloomberg Business News because I am unable to handle my portfolio owing to the nature of my profession. Ever since, everything has been easy. I recommend researching her credentials further.
That 80k housing solution is conceding to the fact housing will remain unaffordable for the forseable future.
Wouldnt recommend unless people are paying with cold hard cash.
Only other solutions are following the steps of the great depression which was:
Cramming in with many family members,
and what we will call the modern day shantytowns "Trudeauville"
thanks for the update, please send 20 folks to Trudeau's backyard🏡
good plan
That background is a nice touch! 😆👽👾👾👾👾🌏🌕
Haha thanks
Exceptional video!🔥💯🔥
I'm making a sincere request for help from anyone who can offer guidance or support. I've been trying to trade on my own, but I've incurred significant losses, and I'm not sure what I'm doing wrong.
Bitcoin has been the most profitable investment at the moment but if only you could trade with professional broker. that will work you through the process needed.
I will recommend anyone in need of a reliable broker to make money, Ms Ella has been the one trading for me
I'm shocked you mentioned and recommended this wonderful woman Ella, I must say she's very good and her trading program has been insightful, I'm most honored to have been part and a full-time beneficiary of her strategic signals
You don't need to be shock because I'm also a huge beneficial of expert Ella. Expert Ella is a world wide cryptocurrency trader and investor expert, The whole world is really talking about her good work
Greetings!! from Taxes, Expert Ella is my portfolio manager she also carries out both orientation and mentorship
prices are not to high compared to build costs
for some reason they think housing depreciates like a car lol
Decent breakdown of statistics, thanks.
Im looking in min southern ontario 1 hr from T.O When should we buy? When do you think it will drop most, (we sold Jan 2021 and hung on to our cash, became lenders)
Where in Southern Ontario are you looking?
@@jonflynn Fergus ontario
I predict March and May also August
Jon Flynn’s prediction: housing market is headed to zero😂
You just need to wait 6-12 months. If in 6-12 months it hasn't crashed just wait another 6-12 months.
So the average house price in Canada is 485k USD which is probably cheaper now than in USA, but it's hard to say because they use median. People should stop saying that housing in US is half the price.
There's no way to restore affordable homes, No government can, government can cut taxes, cut fees, cut red tape, what you can not cut is cost, land prices, labor cost, materials cost, and other costs, The builder set the price, supply and demand set the prices, locations set the price, and others set the prices, owner of the home set the price, we've all ready seen homes come back onto the market sell below purchase price
you may build more houses, you may meet the houses targets, but what you can not do is return home prices back to affordable because current home owners world lose value on their home,
No one's going to miss our housing/immigration minister 😂😂. Seems like a tight situation where you want affordable homes but if they can't afford to build them and there's no supply they're not affordable. And trying to buy a home with three times by income seems like it's never going to happen
It is really good to have these graph BUT it would be way better to have them segmented by provinces or even major cities. I suspect that by averaging all Canada’s numbers the specific Toronto’s, Montreal’s, and Vancouver’s numbers are masked.
Houses will not come due to cost of materials and labours going up. Canadian dollars loose it's currency value therefore the hard assets will become more expensive to purchase with Canadian dollars and the cost of purchasing materials to build or renovate will go up. Labour market will increase their cost as they have to adjust with inflation and provide necessity for their families. Canadian parliament will change the leadership to conservatives and the optimistic for investors will growth, therfore all the cards for prices to come down are blocked, unless a huge recession would happen, however the bank of Canada policy to continued decrease of interest rates will avoid the home owners to force out of their homes , therfore there will be no immediate urgency to sell their homes below or way below market values. For those buyers that are waiting for collapse of real estate market and purchasing homes way below their market value, unfortunate it's only a wishful dream.
Real-estate is already screwed.... if you rely on housing to stay at astronomical levels to keep your head up.... it's not housing that's screwed... you are.
Yeah every minister is now jumping off the boat
Thank you
This is all insane but we seen this coming years ago I hope your Christmas is a good one
Cant find the application for the 80k loan online?
Live in a shed to solve the housing crisis. The Canadian Dream regained! 😂
What a click-baited title. "Real Estate is SCREWED!" and you end your video saying everything is just fine aside from the housing minister quiting.
Jon needs the clicks because his real estate business is collapsing faster than the liberal government
If Jugmeet cares so much he should use HIS own money and buy an apartment building and rent the units out for below market rents.
Get this entire government gone period dillusional and completely out of touch
There is still demand that is higher than the supply. However, if immigration cuts come true, then it may affect the housing market by reducing demand. However, with this large deficit, are we going to have higher inflation? With higher inflation, all prices are normally going up
Who these days has $80,000 dollars or can afford to take out a loan that high. Only the super rich that has no problem with housing.
Both these ministers destroyed everything
I have 2 lots and I was thinking about building a house there I never heard about that low interest loan
They do this in Honolulu. I did grad school at UH and lived in a backyard cottage.
Not only housing is crashing, the dollar is rapidly CRASHING, the stock market is crashing, I expect there will a run on the banks as delinquencies on mortgages and personal credit increase, Peter Sellers couldn’t have done it better!
Looking at your chart the best time to buy was 2021 when your interest payment would be the lowest and rent was the lowest.
You know the time you told everyone not to buy.
I only started making videos at the end of 2021, like the last week or 2. Do you think buying at peak prices with low interest rates is a good time? I'd prefer bottomed out prices and high interest rates.
Can you explain how houses going down 3% and rates 6% instead of 1.8% is going to save anyone money.
Unless you are buying the house outright, your strategy is terrible.
@jonflynn I rather pay an extra $20000 and pay $2000 less a month in interest over 5 years.
And if the other option to pay the $20000 less is to wait a year so I paid $30000 in rent to someone else I'm even better off.
i bought a duplex in sooke march 2020 for 680K... rented it with a 2k/month cashflow for 2 years and sold it for 895k. john and his followers were convinced i was doomed.
@roseoverdose6451 I bought my house in 2021 at 1.89% interest. I got it late in the year got the best of both worlds cheap house at good interest rate. Right now I'm set to pay off 25% of the house after the 5 years and the place has gone up I'm value by 20%. So I've made over $100000 by just buying a house rather than pay rent.
Then someone moron popped up on my feed saying you should wait to buy a house. Just pay rent forever.
Like if renting is not profitable for the landlord they won't rent it to you.
Right now 70% of my payment goes to my principal not interest on my loan. If I considered my interest to be rent I'm paying a couple hundred a month in rent.
The title says that real estate is screwed! The video says that real estate is looking up!!
The reason for the high cost of everything is inflation. Prices, over time, always go up because inflation, over time, always goes up.
The government collapse will not bring down inflation, therefore prices will remain high.
Simple.
When will we understand free money isn't worth anything!
you are incorrect, the collapse could cause peaking interest rates , which will drive prices into the ground - similar to the late 80s / early 90s . it will be the high interest rates that crush the price of homes, they will spike interest rates to unseen levels to combat out of control inflation .. you are right about inflation - but how they control inflation is interest, and its interest that breaks the market
@@ryanhill8567 fair point, but the overall trend for currency, all fiat currencies, is down.
It takes more dollars to buy the same goods over time. Yes, the value fluctuates, but the trend is always down.
Things are looking great means Canadians have become poorer to pay the previous offers in rents and home prices that prices had to come down.
Why would the housing minister quit when he continues to brag about the wonderful job he’s doing?
We need an election. What a gong show this government is.
Backyard houses are a good idea
Live in someone’s lawn and feel like a hobo. What has happened to Canada?
Let the housing bubble pop already.
nah
Best time for end users. For anyone pressed with their mortgage I would recommend lease their property and move yourself in cheaper accommodation. Plenty of sweet rentals in the market for less. At least you can claim some write offs on your property.
I’m leaving the US in approximately 10 months. I hope by then the real estate prices will not go down, but even higher. 😉