Prices Are Shifting Lower, Governments Smoke & Mirrors Budget, 2023 Canadian Housing Market
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- čas přidán 10. 09. 2024
- Yet again the Canadian Government Talks Big but Excludes Canadians from Homeownership. How the 2023 Budget will affect Real Estate In Canada. Prices have shifted from higher price points to much lower in Q1, 2023. Check out the latest chart and data that shows where demand is. I also take a closer look at Burlington and Kingston, Ontario.
Resources/LInks:
www.cmhc-schl....
www.thestar.co...
www.budget.can...
Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
I've been going to see empty spec homes on weekends in southern ontario. The odd ones are selling but they are the ones where the builder has brought the price down to more realistic levels. The majority are still listed at circa Jan/Feb 2022 prices. Let's see how long builders will sit on these homes, I guess they're hoping that a "strong" spring market will clean up these homes but I'm doubtful. I'm still of the belief that we'll see a bigger negative impact as we approach the end of the 3rd quarter and there is a glut of listings. Banks don't want people to foreclose and you can see how amortizations are being extended. What alot of people aren't talking about is, what's going to happen when we see accelerated layoffs in Canada? Who's making the mortgage payment then? It's coming unfortunately. Great update as usual Jon!
Defaults will fall on the banks who will push it to the CMHC and all the losses will be covered by the federal government or really the canadian taxpayer. Of course it’ll take the recession with huge job losses or banks to tighten credit to trigger the next downtrend but it’s just a matter of time.
The current ‘return to normal’ stage or deadcat bounce will push a few FOMO buyers but that’s their loss at the end of the day and they’ll learn a basic life lesson like all the variable rate buyers the last 2 years.
I’m not feeling sorry for any just hanging on for as long as possible when they could easily sell now before they lose their shirt
Everything sells in one or two days in Markham. All except one house on Heritage Corners because of the property taxes. The Chinese hate high property taxes.
@@parkerbohnn the property taxes will only get massively higher especially as sales stay low and value drops. Land transfer tax revenue is significantly down so municipalities will need to raise assessment values to 2022 prices and increase property Tax % as well across all towns. Canada might follow some US futures and double property taxes on investment properties. That might really freak out the foreign investors if your stating they try to avoid property taxes
Thanks Jon!
Nothing worse than government eh? They create the problems in the first place then rush in to "help", spending money they simply don't have.
Eh. I think the billionaires getting bailed out or pimping for subsidies are worse. They have the money to spent on their investments and projects yet need tax payers to pay for it. And guess what? You don't get anything for that investment of your tax dollars. I think they're a lot worse.
Con men.
That is " There" plan. To get the whole world in credit traps for decades. Just keep spendig cititens money so they can make the governament to get more credits in pepoles name. That is why they sending weapons also to Ukrajna.
@@mbovb006 billionaires getting bailed by gov :), so gov the worst
@@vitalygringauz sure, for 5 year old logic :)
If there are “ so many buyers waiting on the sidelines “ why is the government trying to prop up home owners who’ve made a bad financial decision in the last few years? Why not let them lose out and have these “ new buyers “ buy the inventory?
politicians will lose votes
Because the government will have to pay the losses from the mortgage insured by CMCH
@@screugneugneu1 people have enough equity. Banks will be able to recover the mortgages.
all for political reasons, the problem is none of these measures are long term solutions, it will all catch up sooner or later.
@@screugneugneu1 They just lie about the CPI and inflation rate and home prices make new highs. They also forecast the CPI about half a point under the real CPI print for each upcoming month so interest rates plunge. The CPI forecast for March is 5.4 percent yes 5.4 and it will come in at 4.7 percent. How it possibly could be forecast at 5.4 above February with the SVB collapse boggles the mind. Easy money for traders and short the Canadian dollar before April 18th.
Thanks for highlighting the real problem with long amortization schedules. Anyone who has studied how compound interest works should know that extending terms past 20 years buys relatively little reduction in payment which is far more offset by the increase in total payments. Going to 35 years is a desperate measure which doesn't really solve the problem. It is little different than an interest only schedule - no principal reduction at all.
Well said!
Detached house is still selling more than 150K over asking price in Mississauga ON, just 3 days ago a detached property was sold for 1.385 Million , where askign price was 1.2 Million, 185 K over asking, market is still going crazy
Yeah, low inventory and pent up demand.
Prices are fucking ripping higher right now, it is crazy out there... how the heck are people buying??
Mass migration is the cause of the housing shortage, and prices for buying and renting. Too many people, not enough houses. But that doesnt matter, they want to bring in even more. Flood the job market, flood the housing market, flood the health care system, crash the country. Rebuild in a Nu communism smart city nightmare.
Canada is %90 percent crown land. Less than %11 of land is owned by private hands. Any logical reason we still have crown land? The gov wants to bring in the entire 3rd world, then they say theyre doing things to help the "housing crisis". THEY caused it. Cause problem, offer pre arranged solution. Same old tricks.
Thanks for the video, I enjoy your content.
yeah it's a pretty sad situation. doing my little part to call out what I can. Thanks for watching and commenting
New buyers don’t come in with an extended amortization schedule, new buyers don’t get mortgage relief or the existing rules bent for them, two classes of mortgage holders are being supported by the ‘inclusion minister’. Let the reckless pay for their financial mistakes and the new buyers waiting on the sidelines to rise up and fill their spot
Wow that's a wild observation. I didn't even come close to seeing it that way. Thanks for a proverbial slap to the head with that one. Another obstacle for buyers.
exactly, unfair playing field, excluding buyers not in the market from special privileges.
It's obvious that the gov and banks are panicking.
Would be great to see some 2nd Mort., HELOC in-arrears and default data/chart for major Canadian housing markets !
The banks are still kicking the can down the road to prevent this from happening. They can only kick it so far.
It is important to note that Ahmed Hussen, the current minister of housing was previously the minister of immigration. Therefore, he is acutely aware of how many immigrants come into the country and their housing needs. He should be grilled on this more strongly imo. Keep up the great work Jon!
YES AND HE IS A TOTAL LOSER, INCOMPETENT. WASN'T ABLE TO MANAGE IMMIGRATION SO HOW CAN HE DO ANYTHING USEFUL FOR THE HOUSING CRISING INSTEAD OF MAKING IT WORSE ? WHERE DO THEY GET THOSE LOSERS ANYWAY ?
30% of all mortgages are now on extended amoritization past 30plus years. The can is gettng kicked down the road
it's going to explode soon, what happens when people start losing their jobs? It won't matter how long the amortization is at that point.
Thanks Jon, I keep waiting the return to affordable prices to be able to own a home.
Me too, or in my case until I upgrade.
Youll be waiting forever then
@@SigFigNewton that’s also true but housing is so expensive that I don’t think any middle class would be able to afford buying anymore. That also increases rental prices which is another huge problem, so the housing market especially in some areas in Canada is not sustainable as is. This is like a ponzi scheme.
I like the matter of fact delivery of your presentation.
Thanks
The proposed relief for mortgages- one it is a slap on the face of anyone who has been priced out the last decade- thanks in large part to 55% of owners in Ont owning 4 or more.
Second as you point out this amortization extension does ZERO. Unless home prices return to buyers price. That is very unlikely to happen. Third how gigantic is the bomb going to be at end of term when amortization has to return to 25yrs? Lastly society is at risk of fracturing, if anyone with more than one mortgage gets relief, there will be protests, people are very peeved about the batshit crazy prices driven by over leverage & multiple property stacking… bail these gamblers out… there will be riots
good point, someone should launch a complaint with the competition bureau for the governments anti-competitive housing measures.
There is a consultation open & I would hope people voice their frustration- as you said housing is “exclusive “ and this relief program is emblematic of the nanny state that this country has become
Hey Jon, the US 2 yr treasury is all over the place. The yield chart has been bouncing off the 50 week MA for weeks. Basically the bond market is still stuck on the idea that we will see 3 rate cuts this yr which imo is crazy. That would create an explosion in inflation. Rents haven't adjusted, real estate hasn't really adjusted, food hasn't adjusted. It's a show down between the Fed and bond traders.
The gov't is just propping up prices artificially with these mortgage rule changes. It's doing the opposite to what the interest rate hikes are intended to do. WTF? Unreal. The people overpaying are taking the risk. Why should they get bailed out? The gov't needs to also get rid of the land transfer taxes to eliminate the extra costs being added to the home price.
Great info and so true, it's definitely a standoff between the government and the BoC right now, if the government gets their way it will only add to inflation and make things worse. Will be interesting to see what happens.
I see the detached home prices (around 1Million) in GTA west are climbing up in March by 100K to 150K compared to Jan. Definitely some buyers on side lines are taking the plunge, its hard to imagine with interest rates at all time highs, people are still ok to take a Million $ mortgages! In Canada, house is THE asset and wealth builder. Its not easy to predict where the house prices are headed by the end of this year. Anyways, another great video Jon, Thanks for helping people to understand this crazy market.
Stupid ppl wait forever for prices to plunge and they wont. You coulda been paying off that mortgage and wasting ur time....prices are increasing and they will increase next year as well.
@@tylerh8275 prices will easily plummet as oil and inflation rises a lot more this year and next. Enjoy watching the interest and mortgage rates go over 7% next year to fight inflation.
Smart investors should be selling this spring if they understand basic economics
@@jmela1370 Enjoy seeing rates go down and prices go up….housing shortage doesnt just vanish and housing is kinda one of those things ppl need 😉
Thanks for the comment and info.
Good point.
My grandchildren can only buy a house if we leave ours to them when we're gone. This government has created a problem that we will have to solve. Now it seems like foreign buyers can get houses with no real issues and support from government based on inclusivity. Yet Canadians living here are being pushed out. I'm glad we sold our house and bought a house in BC and bought debt free in Alberta.
good decision.
Appreciate your content. ✅
Thanks for watching
Jon, thank you so much for creating/collecting all these charts, data together for your viewers! Great job as usual! Next week, if possible, could you please show the housing market changes from last year for Kitchener and Waterloo?
more than one request of this area. will do .
Excellent video! Thanks for sharing!
Thanks for watching.
I look forward to your videos, thanks for you honesty Jon Flynn, so happy to have found you on youtube.
I appreciate that!
Canada's population grew by record 1 million in 2022, spurred by international migration
as per cbc and StatsCan
will this immigration lead to rent increases and in turn investors/multiple home owners and buyers speculating more? Will the constant inflow of immigrants keep the real estate market propped up do they affect the real estate market?
How sustainable is this? Hospital/lab wait lists are horrendous, infrastructure fails, can’t go anywhere because it’s rush hour non stop.
It will just keep rates higher for longer and cause more damage. BoC is trying to fight demand. Government fights the BoC by increasing demand. The longer the tug of war game lasts between the BoC and the government, the deeper the recession will be.
it seems their primary reason for mass immigration was to prop up the economy to lessen they downturn and help pay for the boomers retirement that the government can't even come close to affording, the rest of the issues are collateral damage. I think we will see a massive spike in homelessness in the coming years.
Great as always Jon. Thanks for the info
My pleasure!
Newfoundland.....the last Mohican? One of last places to buy a 250,000$, 3 bedroom home
then you shoot yourself 11 weeks into winter... its a trade off...
Why arent sellers selling?
Half are fixed rate, the variable ones get extended to 35+ years.
But why is the inventory at record lows? Especially in entry level homes?
Theyre shipping in a million people a year. There will never ever be enough inventory.
because the real estate equilibrium is way off. Too many investors and speculators bought homes over the past few years and are hoarding still. Only the ones who bought in the past 2 years or so are on shaky ground right now with interest rates, dropping prices, and not being able to break even with rent. The rest are still ok for now and waiting it out. Just a guess from what I've seen in the market.
Keep voting left until we hit the wall. “Barrack, how are you going to pay for all this? Let me be clear: we’re gonna print money until we run out of paper!” - Steve Bridges.
Nice quote, and very true.
Thanks Jon for always telling it like it is - unlike most real estate agents. The Feds have, as usual, not addressed the real problem of supply for residential real estate via tax policy. Foreign investors are not the primary reason for outrageous Canadian house prices. In 1982, during the Trudeau One era, the principal residence exemption was capped at one property per household unit (formerly two were available if spouses owned more than one home). The second property then became taxable under the capital gains regime upon sale (currently at a 50% inclusion rate only). I would argue that keeping a second property under this re8gime is acceptable, but that all subsequent properties' gains (three, four, five etc.) be taxed as regular business income ("adventure in the nature of trade"). ALL properties held in trusts or corporations would be taxed as regular business income upon sale. Phase in period could be by December 31, 2024, for example. You've pointed out that there's an inventory shortage still keeping prices 25-50% higher than they likely should be, to eliminate the perpetual Canadian real estate bubble. How much busier would your indiustry become if the market was flooded with listings over the next 20 months if this policy had been enacted? What would happen to prices? Hpw many more first time home buyers would be to afford a property in 2024/25? It would seem that Trudeau Two didn't learn from Trudeau One. Perhaps because Trudeau One's kids' trusts include real estate holdings???
Thanks for this great info. I think Trudeau Two is focused on the wrong things and his global alliances.
Foreign buyers are the reason real estate in Canada is double the price of real estate in America. Anyone knows that.
@@SigFigNewton Any more supply will all be bought up by the Chinese so they'll never be any supply. With the Bank of Canada rate well below the inflation rate they'll never be any supply.
John, feds are gonna cut the rate in May, what’s your take on this ? And the rates have gone up at least by 100k in Toronto
I doubt it, unless the economy implodes.
Hi Jon, thank you for your precious infromations.
no problem, thanks for watching
Great and true information. Thanks very much Jon..!!!
No problem, thanks for watching.
Thank you Jon
No problem, thanks for watching.
It's all theatrics the fact that the reverse part of the foreign buyer ban is a clear indication that they need to keep the market propped up for political reasons
good point.
Thank you
Thanks for watching.
my friend bought her house for 275k in Sept 2016 and has it listed for 799k now (969k before cuts). How are people still buying into this scam. this is in thorold btw..
greatest ponzi scheme in history.
Its alot of ppl selling then also buying in the same market. Simple
im from the gov and im here to help... 9 words that have a 100% return on investment in doom...
I think it depends on where in canada, all markets are different. Here in ottawa the prices seem to be keeping steady. I get regular monthly updates on housing sales and the prices we are at currently seem to be what we are stuck with. March housing sales were above feb sales, will it stay that way? it will be interesting to see the prices and sales as we head into summer, but it appears to be picking up again.
I build homes in Ottawa. Ayyyyyy!!!!
I've been looking for acreage 50+ for the last 4 or 5 months just west of Ottawa. Madoc, Verona...South of 7 and very slowly the prices have been dropping and many of the properties have been listed for 5 to 6 months. Some more. But people are hanging onto those 2022 prices. I guess we'll see.
Thanks for the info.
Still prices are NOT coming down in Essex county. Both my wife and I and my brother in law have both been looking for places, every house we've looked at has sold well above asking with multiple offers. My in law found a place but offered well above the asking price. I'd like to just pack it in and leave this sinking ship but my wife won't go along with that.
Lose the wife. Jokes.
it's seasonal, will change soon
Thank you for the great video.
No problem
thanks for the updates. I look forward to your videos :)
Thanks for watching!
Look forward to your videos every week. Can you look into what’s happening in Woodstock/Oxford County? Looks like prices have been going up in that area since December unlike Burlington and Kingston. Just wondering what your take is on that? Thanks.
Looking to move back into that area from st Thomas so that would be nice. Woodstock is expanding so much as a smaller city which is driving it
I will check it out
Always honest!
Thanks
What? how does temp workers being able to buy residential homes not add to the demand side? that is pressure for higher prices...
how do non permanent, tamp workers get a mortgage?
@@jonflynn You assuming they even need a mortgage, they can easily sell their home in HK, China or India, a 3 bedroom condo in Hongkong is like 2.5mill CAD. These temp workers probably will plan to apply for PR after too. They can easily buy most homes here all cash.
Idk what to do late 20s house hold income 200k can’t buy a house without being home broke even with 200k downpayment I’m in Toronto can’t move due to family
buy some xrp, xlm, and some lunc, which will all pop soon... forget homes for another year...
Coownership
that's crazy, wait for the financial devastation and buy one from the bank. It will come sooner or later.
btw, This was the same "minister" who had the immigration ministry prior and made a complete mess of it. Now, our housing has gone downhill, should we be surprised?
Yeah that's right, forgot about that.
Why do we have to renew mortgages in the 1st place? Why don't we have 30 year fix like it is it the US?
Banks borrow your money on your saving account to lend it to borrowers, the idea is to give you 1% interest and lend it at 3%, pocketing the difference. Now, US banks are screwed because they are stuck with those mortgage fixed for 30 years at 3% but now need to give higher interest on saving account or see people taking their money and investing in money market providing 5% interest. Canadian banks will be able to offer higher interest on saving account as they get more income from mortgage renewing.
exactly
@@screugneugneu1 As I understand what you said, this is the theory. Let me tell you that my savings account doesn't give me more interest like it's supposed to be. I still have to same 0,5% like it was 2 years ago. But now if I want mortage I need to pay 5% + for 5 years. So banks can decide to not give more interest to savers and will get away without any problem. Am I right?
I think the budget's measures could push out the crash a bit. The more they do the worse the eventual crash will be.
True, thanks for the comment.
Hi Jon,
I asked for your opinion on the Collingwood area and market, but could find my question to see your response. Do you mind providing your opinion on that area and market again. Thanks. Great work.
The rules benefits the banks and big real state corporations. But the normal working people will not get a house in Toronto. Prices should crash as 2008 in USA to clean this
I agree.
The banks strategy to keep people in their homes b extending amortization does benefit banks but will keep house prices high.
I agree, in theory it should but is still just a temporary fix. Something will break in the economy soon, signs are there.
The price of housing in Canada is obscene. GDP relies on this Ponzi scheme. Homelessness is on the rise. Banks and government snatched the prize.
Sad days.
Hey John, great video. Sometimes someone just visualizes the data differently and a light bulb goes off. Great way to show sale prices yty by price range! Is this something easily available or does one need to be a realtor to access data?
Sorry, meant Jon.
You may be able to gather from publicly available data but would be cumbersome. The data I showed is only available to realtors or appraisers. Thanks for watching.
Well done Jon!
Thanks.
Either way the House always Wins! Keep paying those sweet rates for as long as possible. Now you know that governments are run by the big banks not with your meaningless Vote.
Yep
I'm seeing fomo again 18-25 offers seems to be the norm.
we're screwed.
@@jonflynn yep. What're you seeing on the ground?
It seems like they are rewarding people who went variable
yep, rewarding the people who chose to buy into the bubble and pay almost all interest payments. The BoC is laughing.
I still believe there is pocket housing market that will not see price decrease, arears like Hamilton mountain and arears around, the reason is people want to live in that arear and are willing to pay what the sell want's, we had a house sell for 550,000 it had been renovated but had no basement crawl space, if you look there was home for sell with full basement for the same price or just over, bank don't want default or foreclose, there letting home owner who are paying 100% interest only to going on but BOC will have no choice but to rise rates soon as the housing is still to hot,
There's definitely a pent up demand but buying real estate right now is risky in my opinion.
Interesting scenario looking at extended amortization and how the banks are robbing people. I wonder how this looks when you look at yearly price depreciation. I think lots of people might be negative equity and only paying interest. I guess people don't like moving or rents are higher than paying interest on a 45 year amortization.
I was trying to get into the market because I was tired of paying rent which is literally throwing money down a pit. Yet look at these freaking interest spikes in long term payments. Interest rates are great for the banks and everyone if obsessed with it regarding housing yet the prices are the problem. It was normal to have interest rates around or above 10% in the 1980s. But houses cost much, much less. The problem is the housing cost itself.
Because your home is at the bottom of that pit. You either Rent money from the bank or you rent from your landlord. Either way your still some type of slave just choose one.
Not a good solution for sure, I'm sure there will be lots of negative equity.
Meanwhile, California is helping by offering first time buyers a 20% down payment subsidy.
just to keep all hell from breaking loose in the market.
@@jonflynn I just got this from another lender I work with, Greg Wickstrand …
“Did u see calhfa announcement? Funds for ca dream will be gone by Wednesday of next week if not sooner. I would get their home search started asap and we can fine tune the preapproval asap.”
I know you just shared the Barrie region statistics few videos ago but as someone who had been looking to buy in that area it appears that a lot of houses sell over asking even when they do not seem to be intentionally under-valued to attract multiple offers. The lack of supply does not seem to really affect the prices that much since some houses i've seen had 19 offers which is just crazy..
not good, gonna be a lot of broke people
@@jonflynn do you mean they had bought over asking assuming the impeding crash? It feels like our government is trying their best to prevent one from happening with these new amortization measures.
@@pz1870 its unpreventable at this point. Once layoffs start these 'homeowners' will be walking away
I can't agree more
Thanks.
Land prices high no one can afford to build prices stay high
it's a mess.
The road to hell is paved with good intentions. People who gave out risky loans should be allowed to fail. Let the free market work. Politicians are just protecting their jobs and the general population does not understand basic economics. They are incentivizing more buyers due to these handouts.
100% true, thanks for the comment
I spoke to someone who works at BMO who has seen maxed-out amortization, which is 99yrs. It's the very definition of debt servitium.
this type of mortgage, 100 years, exists in sweden for a while. not sure of the particulars of it. i suppose its about lowering cost of housing, not profiting from real estate.
Prices are shifting lower?? LOL you are clueless, look at sales in January to March....rising in all sectors
prices points are shifting lower, the data is on the video.
@@jonflynn Only these clickbait channels can somehow manipulate prices rising into lowering 🤣🤣🤣👌 Stats dont lie, Im seeing nothing but bidding wars…there were no bids since summer to now and now its everywhere 🤔
@@Cutlerypotato very special thx!! Keep watching prices rise dip 💩
@@Cutlerypotato I own multiple properties, all way higher then I bought years ago…they made me rich thx 🙏
@@Cutlerypotato stay mad....prices for housing is up and going up, US inflation just hit 4.9........sucks for you to not own a home and see prices rise, ouch
Are you still around and looking market, I hope, seems your all Indicators are not working 😊
Yes I am! the end has still yet to come, don't get too excited over a couple of good spring months to 20 year low inventory
can you currently get a 35 year mortgage or is this only available for assistance?
only available for assistance or investment/20% or more down from what I know. I'm not a mortgage broker though.
@@jonflynn Thanks!
Hi Jon,
Buyer's market has kicked in but when it will be perfect time to enter in this market?
Can you please let us know the market in Peterborough?
summer has the highest inventory and softening prices usually. Actually usually starts mid spring.
Buyers market is on the verge of leaving actually….get a clue
@@jonflynn is this the right time to buy?
Will the prices but go more down?
Hey John.. Big thank u for the job when almost every second realtor wants to sell u fake dreams.. can u please give some updates about London and Kitchener market update in your next video.. 🙏
it's in there and uploaded now. Thanks for watching
Absolute Quality Content !! Love it 👌👌
Thanks
Waterloo region please .
I've heard it's a zoo there right now, will check it out.
I hope PEI is included next week. Hopefully everyone from Ontario is leaving here now and heading back lol
The went there too? I heard about lots of people going to NS and NB
@@jonflynn yes, all kinds of people from Ontario. I remember the first year of the pandemic it was every other car with an Ontario license plate
Most from Ontario are leaving the country.
Banning foreign buyers wont hurt unless youre a realtor😂
yep
We have gone from criticizing the government on housing and immigration policies to railing against inclusion and diversity. 😢 are we going to get to asking us migrants to leave? 😢
lol, that's definitely a leftist way of looking at things. You should listen closely to what I said. I said nothing against diversity and inclusion, it was against the government for excluding so many Canadians from home ownership. Shame on them.
A 500k house at 1000$ a month would take me 50 years to pay off. I pay 850 in rent. Why would I buy? So why would a migrant worker buy a house when they won't be here long enough? They have to have it for 2 years anyway.....it doesn't make sense cost wise, but it makes sense for investors!!
Really misleading to tell others prices in general are shifting lower recently which is the fact that being opposite. Feel sorry for those who made the decision based on misinformation. 😢
Don’t always think others projecting house going up as evil….
There is thing as downside risk but also there is thing as upside risk.
Right prediction not always can be accurate my point is still: don’t spread misinformation….
I really looking forward to months later see if you would still tell others prices dropping throughout Q2 of 2023 ^^
I'll refer them to you when they buy out of FOMO and prices go down. Let me guess you're one of those guys that says prices will always go up. The 2 random areas I chose from viewers requests both had lower prices MoM and you still stick to your story. YoY prices are down, sales are down over 40%, 2023 YTD average prices are lower than 2021, keep convincing yourself otherwise. I clearly stated before Feb, that prices would be up for Feb, then reported they were up, will be reporting the same for March but will be showing reasons why this is a temporary seasonal trend, no one is denying increased activity with multiple offers due to low inventory, but I wouldn't bet your future and life savings on a temporary trend. Price points clearly shifted lower in March. Average prices where up, but Median prices were down MoM. Data doesn't lie. Spare me your misinformation jibberish, you sound like Trudolph, next you'll be labelling me a racist.
@@jonflynn I did not always see rise. don't always think others holding opposite view as you always seeing price go up. I just focus on the fact that you spread misinformation of saying price dropped for March and April which is apparently not the fact. Please do not twist the gist of my message..... overall of the country, median price of most of the places in Canada for March recorded a rise relative to Feb's, how would you say it is a drop......
I just hope followers here be open-minded to really have a look of the true figures instead of blinding taking all information and words here as granted.
Hes full of BS
@@tylerh8275 in a confident manner😂😂😂
guess he is the only one saying April is a drop....
and by the end of April....hope this time he can remember what he has said....
@@y_y_ryan I think the headlines are sales drop (meaning the amount of listings and sales) but prices have risen….thats what ppl arent understanding from news articles. Sales arent prices
You keep telling the truth John. You're going to get into trouble
starting to piss some people off already. Most people like the truth though.
Hes been saying prices will crash all year,,,,theyve gone up 😂😂😂😂😂
Prices go up and down but in 5 years it'll be a lot cheaper than it is now unless the dollar collapses
@@petervanhaeften no….theyll be higher, just like every 5 years in history…housing will not be needed in 5 years and will suddenly crash 🤣🤣 keep wishing budd
@@tylerh8275 fairly speaking, he not always saying drop....
he just predicted a drop since last year? which was not inaccurate
I am a fair guy
just cannot agree with his denial of current fact ...
Only Rich people can afford house these days no joke
yep.
Or ppl selling and buying…I own 4 homes and Im not rich
Do Ottawa . Full of public servants and stable jobs
I heard there's a big rat infested mansion there. Have looked at it recently. Last time I checked about 10-15% decline from peak, much less than the rest of Ontario.
@@jonflynn government jobs are stable
Ontario housing crash 💥 on the way
yep.
Of course it's inclusive Jon! now all young people regardless of race, creed or gender can't afford a home. We're all poor together! lmao
😂😂😂😂😂😂
With all the new immigrants to Canada, there would be no skilled professionals who would want to move here if they couldn't purchase a home. I agree house prices are out of control, but I am not sure how far prices will continue to drop. It is possible that housing prices just stays the same as inflation raises, making an unrealized loss overtime instead. (And I think we haven't seen the end of inflation just yet) No government wants to see housing drop for a whole list of reasons. (some being rental investment owners also)
possibly, over 1 million came to Canada last year alone and all we've had is a seasonal increase so far. I think the bottom is still yet to come. Thanks for watching
@@jonflynn All I have to say is vote PPC, but no one will. We'll just get more of the same with the Conservatives.
@@jonflynn I always look forward to your new video each Tuesday!
First one
Grand prize.
You will own nothing and be happy
yep, except I don't think people will be happy.
Government please save me I can't sell my mud hut for $1000 000 000
pretty much.
@@jonflynn Government: have you tried lowering your price?
Seller: I tried lowering it to $2 000 000 000 from $1 000 000 000 but it din't Sell😂
Thank you Jon
no problem, thanks for watching.
Thanks Jon!
no problem, thanks for watching.