35% of Canadian Home Owners Will Go Bankrupt in 2024!
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- čas přidán 2. 08. 2024
- Two years ago, this channel covered a Daily Hive article that claimed that as many as 35% of Canadian households were concerned about going bankrupt due to rising interest rates. Now that the BOC overnight rate is holding steady at 5% and reported consumer bankruptcies are still below pre-pandemic levels, could the wave of fixed rate mortgage renewals be what finally tips the scales and pushes highly leveraged home owners to the brink of bankruptcy?
In today's video, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty provides his opinion and the opinion of BMO’s Chief Economist, Doug Porter regarding where the housing market is headed and just how serious the 2024 and 2025 “mortgage renewal cliff” might be for the Canadian economy.
#SurreyRealtor #SurreyRealEstate #CanadianEconomy
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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.
Do you think this year is the year? 🏘💣💥
hopefully
Sweet lieberals mortgage stress test didn’t include their hyper inflation
Consumer debt in Canada is a big problem, add in government on all levels adding new taxes to the cost of the basics and property. I see a nation of debt slaves. With the reckless immigration numbers this could get out of hand as the spending is all on plastic and once the consumers dry up...Look out.
No the boc will drop the interest rates sooner then later because of higher unemployment and inflation dropping a lot due to the lagging housing data which is probably 40% of core cpi . The Trudeau government are continuing to create theses inflationary subsidies and policies that will make inflation rise again in the future which will cause a bubble and a market crash.
I think we are missing the legging effect... housing is always the last to go. People will miss their mortgage payments last after trying to cut everything else. More credit card debt... more missed bills... cut cut cut as much as possible... then we have that negatively impact the economy... people lose their jobs due to less traffic in the stores/services, then it will snow ball. 2025 seems more likely in my opinion.
The Canadian new normal is a dystopian nightmare.
canada is finished. go and thank a realtor
Get help with your paranoia and stupidity. And stop following gibberish like this. Otherwise your life will be a disaster.
@@archie_bunker Crawl back under your rock with the other mental defectives. NO ONE needs to hear your gibberish.
Actually, a dystopian nightmare will be if large corporations purchase those houses and turn them into $10k a month rentals.
@@PWingert1966 and fill each one with 20 indians
Gotta wonder how many would of fell if it wasn't for the new 30 to 100 year amortization period that was created.
For other videos I’ve watched I’ve seen most estimates around 60%
I've posted this elsewhere, but can someone explain to me why Canada does not have 30 year fixed rate mortgages?
My perspective significantly differs from Doug’s. He is cognizant of the upcoming renewals in 2025 and 2026, which are anticipated to be very challenging years. As a bank economist, he is just disseminating misleading narratives and providing false reassurances about 2025 and 2026 to save his bank.
Come’on now 😎
I agree....housing is in the toilet here in Etobicoke.....don't see prices rising....they are falling.
Things were never as good as we thought they were and they won’t be as bad as we think they will be. The Internet is a cesspool of uninformed hype in both directions.
No sympathy for people paying 2 million for a house worth 700k
Always remember anything someone does or says has some benefit to them. Its always there. Like making media content makes money with ads. Politicians lie to get votes, the BLM leader bought mansions. lol
@@retrogamer82from India which is a densely populated place, expensive houses atleast make some sense here compared to income.
But, why does this situation exist in Canada which is sparsely populated with excess land and very few people.
For example - NCR( national capital region - New Delhi) has more people than Canada.
@@vividlearner7427 Much of the land is hostile or too far from economic activity and transportation. Billions of places to build a cabin but you could not survive easily.
Yes, but that is part of market psychology. The crowd rushes from one side of the boat to the other. It makes little sense at either extreme. Many people are fools.
Look around and wake up. What do we have in Canada ? Very expensive real estate without any economic growth and poor productivity to support it. All Canadians and our 3 levels of governement think about is when is interest rate will drop, and no one is focusing on growing our economy which is the only way eventually to get Canada out of the hole.
Awkward truth nobody wants to recognize. It's all just housing, housing, housing. And the views differ massively between those in the market and those not. Low productivity is the dark shadow we're ignoring at great peril.
Most government and a lot of the population want to shrink the economy and productivity even more, for virtue signalling. And get paid more for doing it. Canada is a very arrogant nation.
This is the exact truth and what is fueling the Canadian nightmare. Actually that what you said, lack of Productivity, is the big scary indicator that we are all in deep shit. The GDP of the entirety of Canada isn't even bigger than one state in the US alone. I'll give you real numbers: Cali's state GDP in 2023 was something around 3.2T, while the entirety of Canada in 2022 was 2.21T. That's how fukin small Canada is. That number has been on the decline since 2010!
And everything is gone. Manufacturing, intellectual property, production: everything is gone. All Canada has is warehouses. We are all frankly, completely screwed.
@@SavageKillaBees You nailed it. There are lots of other issues, but productivity is at the root. A country that doesn't produce can't be prosperous.
Wages will have to rise an awful lot so the average worker can afford a house at current prices.
a price correction is long overdue. We need prices to correct by at least 40% to bring balance to the market.
🤔🤔🤔
We?
@@SteveKarrasch yes we, i mean you can import half the third world to boost your fucking portfolio. But people like my wife and i want kids and a family. We are moving out of this country due to greedy fucks needing 1.2M for a small home large enough for 4 people. Kindly go fuck yourself if you think being in the top 10% of income in canada isn't enough to afford a small starter home. In fact enjoy your future, because engineers and doctors like my wife and i will just fucking leave.
Not enough for Trudeau. Will increase new Carbox tax 23% extra and food will go so high
💯
True.
Canadians voted for it 🎻
This is hilariously optimistic. Saying interest rates will go down at this point is dangerously speculative. With the consistently contracting Canadian economy, that is hyper leveraged across all sectors, to say there will be any growth in housing prices is irresponsible. The fact remains at the elevated prices we are seeing across the board, only about 10% of Canadians can afford financing, and that is not enough demand to sustain the flood of inventory that will be coming to the market in the next 3 years. We are well on our way to a crisis crossroads of all the cans that have been kicked down the road for the last 30 years. Just look at the real estate situation in China, that is Canada in the next 2 years.
Agree...They do not care folks...$, We do not want mass immigration, carbon taxes.... All MSM, political lies.....The public has never asked for this kaos. What a mess.....Open borders, sanctuary cities, mass immigration, asylum seekers......more government, more debt....government IS the problem as they all get full pay to destroy the country....sweet deal eh? $$$, They are crooked and corrupt to the core. They have some scary things planned for us. They lie daily, all of them. $, They will do and say anything to justify all these fake, phony government jobs that should not exist to begin with. More government, more debt, more censorship = less rights, less freedoms. Government control, control moving forward while they ALL get full pay to control us. $, PIGS = People in governments = Governments = police = bylaw = teachers = doctors = nurses = fire = public transportation = lawyers = military = judges......just follow the money $, = ALL greedy, delusional lying parasites, order takers. My body, my choice MF. Do not comply. Rise up truth seekers, private sector, small business, farmers, truckers, entrepreneur’s, freedom fighters......very, very large groups. Plan, organize, train, MMA......prepare like-minded people...fight back in self-defense when necessary...protect each other from the real enemy here = tyrannical, totalitarian governments = police = military....MSM...Big pharma....now controlling, running most countries globally. They lie daily. $ They knowingly fined, jailed, assaulted, froze bank accounts. poisoned, injured, crippled, killed millions over the last 4 years and none of them will be punished, fired, jailed over this...This is not ending. Plan, unite, prepare....lets put an end to this government greed, stupidity. Do not comply. Rise up!!! Solutions folks? It’s easy to complain, simple to see what’s really going on....but we need solutions, NOW. We need to put a stop to ALL immigration, NOW. Government IS the problem. Rise up....revolution calling.
Your BMO guy didn't mention the new rules that OSFI is implementing starting next year?
The banks will no longer approve non insured mortgages of more than 4 1/2 times income.
He knew about it, just didn't fit his narrative.
I think you knew about it first and have been holding out on us.
Why on earth would getting more than 4.5 your income on a mortgage be a good thing.
@@xeero24 it is not. It is one of the causes of this problem
Thank you
Where are these immigrants getting money from! Most of them are not high net worth individuals!
these people don't come here to be part of canada..
Parents who own companies
Most are students & low wage temps & fake refugees trying to get PR & pushing up rents for smaller units but they wont be buying overpriced housing
from the government, new immigrant receives $3000 on landing which they never receive and up to $2400 month free health and dental and stay in rent free
JB's recipe if you know what I mean.@@philipbroadbent4141
Dont see how this huge historic spike in foreign students, temp workers & migrants will help home prices..they will hurt low income canadians by pushing up rents & other costs
Yup , and their wages are subsidized 70% which makes businesses hire them over Canadians .
And they were scammed too.
Not over here in QC, prices still rising looking at year to year stats, multiple offers scenarios in many sales around the affordable range (400-600k)
Thanks for letting us know.
@@SteveKarrasch Canada is not one market, but many markets reacting differently. Depending on the area and price range.
How is QC more affordable??
@@Anomalyy666 Average home prices are around 650k in the greater MTL region, and around 400k in other big cities; QC, Sherbrooke, etc. So yea, people come here to buy homes and young people can actually afford them still. But not for long because these prices are growing fast.
I remember how proud people who bought during the pandemic were. They "had arrived". They had made it now and where rising in the world. Now they're in trouble. Can't say I care.
You should always be proud of owing your own home.
Is that a Freudian slip 🤣🤣you’re absolutely right…owing it, not owning it.
@@BellaBella-jw9ef lol didn’t even notice 😂
Inflation will re-accelerate b/c of much higher oil prices.
U.S. Fed will 'likely' do behind the scenes Quantitative Easing through T-bills.
Canada will wisely copy all, keep within arms distance of USA.
Lower rates + more liquidity + money injections = lowered dollar value / higher prices
Lower dollar value vs higher prices ...something has got to give. So how will people pay rent if the price is higher...and the dollar value is lower.
Sold high before renewal and downsized last year. Feel like we dodged a bullet.
Pew Pew
Amortization extensions definitely are wrong
Should never have been allowed.
the Own Nothing, Be Happy scenerio
rebound in 2025? Is there not new mortgage rules coming in of a max 4-1/2 x annual salary? Average household income is what, 85 k? By my math, thats cutting out quite a few buyers.
No massive drop due to bsnk and government intervention. There was no such thing as negative amortizations before this point in Canadian history.
Sure there was, these products were sold in 2018 when rates were going up.
@@SteveKarrasch2018 isnt history...geez
Unfortunately I don’t see how a soft landing is possible. Think in terms of the Great Depression, only much worse. The debt based economy is approaching a cliff and the landing will be epic. But nice try in painting a rosier picture than me.
Soft landing has never been achieved in the history of Canada.
It's something that is aimed at, but never achieved
There will be some SERIOUS pain in Canada. That guy in the interview was a studdering bowl of jello.
CZcams comments are always smarter than world class economists.
If you say so, all they are doing is kicking the can and crashing out the standard of living more. Either way wont end well, Mark my words LOL
@@SteveKarrasch
Ya but he did the same thing that gets them ripped in the comments when there on BNN Bloomberg.
They supply a narrow minded narrative based on too few economic, fiscal or monetary contributors.
The US economy sets monetary policy in Canada by default.
He knows that too.
These issues vary significantly by regions and even Cities but the one issue that is unsolvable across Canada without a 20% to 30% retraction in prices, is affordability.
I'm confused about who is gonna increase wages? Last time I checked corporations are cutting back and unemployment is increasing.
Looks like Canadian can and should have higher interest rate for longer.
Scary.
He said, they are surprised because markets were more resilient than expected yet he said they know without a doubt there is strong pent up demand. Completely contradicts himself.
This just goes to show how little anyone knows. The best proof is to look around you, we are all in deep doo doo.
Doo doo ain’t deep where I’m at.
Price of houses in Toronto is going to drop up to 30% in 5 years.
Of course... they always do.
My investment advisor sold all his properties last year and is renting.....feels real estate will drop .... I am seeing it happen in central Etobicoke
@@zybala2 I bet he didn't say to sell all your stocks
FOMO 2.0 will start soon, once BoC starts cutting
Wrong, it's already begun
Last time I checked, you can't get approved for a mortgage on FOMO alone, you need income for that... Good luck trying to sustain highly leveraged home prices based on ''demand'' that can't get approved for a 1M$ mortgage with a 100k$/year salary. At some point, reality starts to set in forcefully : the current market is just a stalemate waiting to crash based on selling prices achieved in an era with interest rates that will never come back in any of our lifetimes.
Doug must be living in some different world than the rest of us live in!
these people are the ones that created this disaster. canada is done
Trudeau spent 600 billion dollars in debt since 2018,,,
And you think interest rates will decline. 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Bring it on ,let the CRASH BEGIN...i will be sitting back with my popcorn and will be enjoying the show..
In the crash you wont be able to afford popcorn.
@@SteveKarrasch Sure i will,i have no debit what so ever....
can we expedite this process
The fact that there is so much concern about all this shows that many people have stretched themselves too far. It shouldn't be a worry in a sane world.
Good.
The video, thumbnail or title?
What will change housing crisis in Canada and Australia and other places is to eliminate real estate investments as it increases the demand sky high.
Filing a consumer proposal today. Best decision ive made in four years. Luckily , all my debt is credit cards though. I plan to pay it off two years early. Ill be living off cash with only enough in the bank to pay the bills.
The banks and most levels of gov will continue to bend over backwards to prevent consequences for over leveraged housing speculators. I was raised hearing about the bad times of high interest rates in the 80s and people walking away from homes or selling for a dollar. Finally high interest rates came after a seemingly endless period of very cheap lending.... and the consequences were just not there.
Is that Elijah Wood on the left in the podcast clip?
yes.
90% would wipe out the industry and rebuild from scratch again to clear out the 0% interest rate mess from '08 which happened in the US and long over due up here imo
Here in the suburbs of Vancouver, a lot of my neighbours are nervous about renewing their mortgages as higher cost of living is pinching us all.
Did they think 2% interest rates were here to stay?
To be fair, the central bank stated they’d hold rates low for a while, and at that time we didn’t know gas would be over $2/L and a cauliflower would cost $7.99....and climbing come April 1st.
You’re not wrong - very valid points
The country is done.
I am not sure 🤔 how people will be suddenly making more money next year or have extra cash especially with the ever increasing hyperinflation of our carbon taxes. 🎉 You got a raise (if you still have a job and haven’t been replaced by a Ukraine refugee * btw the government is subsidizing their income so the employer pays less to hire a Ukrainian than a Canadian) now the government increased taxes so you are not better off than before, maybe neutral if you are lucky. I doubt you will have extra cash. However we can hope everything will magically stabilize and they shut the open door to our country and remove the tax on a tax called carbon tax…. 😴💭
Im seeing large income from home owners and buyers. Renters tho…
I agree..... breathe
@SteveKarrasch A large income when you are taxed on average at 50% for income taxes, then pay all the extra taxes to purchase what you need in life does not help. Canadians need to take a very hard look at the real rate of all the taxes you pay, and I bet it is 70% or more. For example, you take $1 pre-tax, then you are taxed and lose 0.50 on that dollar. Now you have 0.50.of purchasing power, but in most places, the provincial sales taxes are at least 15% (not including carbon taxes and the hyperflation of the products you purchase). So you have 0.425 cents of potential buying power on every dollar before carbon taxes and inflation. We also must keep in mind that at the peak of the lockdown, Freeland said there were millions in Canadians' bank accounts and how they were figuring out how to access it. Anyone who is stupid enough to believe we have a strong economy and lots of wealthy people is clearly walking around with their head in the sand. Those who might look like they have more are quickly going through their cash.
The housing market is not the problem. The problem is the bond market that's in the real bubble. That's why we are seeing inflation because the bond market is at its breaking point and all other bubbles in housing and stocks come from the bubble in the bond market. When that pops because inflation is not going down, that's when the other markets will be affected.
You should have continued writing....good comment
So if the bond market breaks ....please explain
@@treaty8631 When the bond market breaks everything will collapse because all other markets are just specs of sand on a beach compared to the bond market. Crypto, Stocks, Housing and even commodities will crumble. Because we are a debt based economy this is all funded by servicing debt. So once sovereign wealth funds and billionaire investors think the juice is not worth the squeeze because of inflation they will sell that debt into the market ad suck out the liquidity. Kind of happening right now In Canada. Also happening in the U.S. as well but not as quickly since you have the reserve currency. But Canada, the market pretty much called Trudeau out on his bullshit and bonds are selling off like no tomorrow and gold is ripping through the currency. Even when bond have stopped selling off in the US and people are buying overseas, everyone is just selling Canadian bonds. Everyone is selling their CAD and buying gold it seems and by everyone I mean Central Banks, billionaires and sovereign wealth funds. It's destroying the exchange rate that Canada secretly likes to peg to the USD. Normally when gold moves up or down it will stay within the exchange rates when compared to USD. Not now, gold is almost doubling the gains compared to the USD spot price. Keep in mind that Canada is a resource based currency so we mine and produce these commodities that are all crushing the CAD. Oil, Gold, Silver... you name it, it's here and literally just all crushing the currency. Because the bent and twisted every economic law within reason to get us here, when the bond market bubble bursts, all logic and reason within markets will be gone and things that should not happen can and will like sky high inflation and unemployment at the same time. Everything will just unravel because central banking is evil!
The only move that needs to be made is turn off the credit fire hose. People still building mansions for 2.
👨🚒
An unprecedented global real estate crash is now guaranteed because by 2030 at least 80% of all white collar jobs in Australia, Japan, China, North America and Europe will be permanently eliminated by AI and/or outsourced to English-speaking countries in Asia (where workers are more productive and their salaries are at least 75% lower). At least 95% of the people in Australia, Japan, China, North America and Europe who consider themselves rich today will be financially decimated within the next decade. All smart people understand that currently there is too much undeserved prosperity in Australia, Japan, China, North America and Europe and it will completely evaporate when this Everything Bubble inevitably implodes over the next few years.
All the trucks that work the oil sands are going driverless over the next few years
@user-vi8ci2bi6b Suncor is pushing that angle but CNRL is not yet.
No
Did bill Ferguson change his CZcams name to alsmart?
And bye then we'll have 20'30 agenda
As we saw in the 1920s, the influenza pandemic was followed by the roaring 20s then the great depression
As they say, history always repats itself. All of the endless money printing will eventually become too overwhelming to overcome and will have catastrophic financial implications.
Nothing to do with the end of WWI
Except the pandemic and war destroyed asset values, and set the stage for a new bull market into a relatively geopolitically stable 1920s.
Covid did the opposite. It inflated assets and left us with a geopolitically unstable mess.
Yeah i still believe that inflation is transitory like they said 4 years ago.😅
That was 2 years ago.
Looks like dough have some investment properties.
My question is (not being Canadian) - why does Canada renew mortgages every few years?
you usually lock into a 1yr , 3yr , or 5yr term _ then you renew
It was done this way in the name of consumer protection....
@@SteveKarrasch please expand on this more. Consumer protection, how?
@@anthonyguevara5650 Because when rates were dropping, it wasn't "fair" to be locked into higher rates for 10, 25 or 30 years. Only problem is that if rates rise, 1-5 year rates are then not fair either.
@@SteveKarrasch That doesn't justify protecting the consumer.
Too big to fail dude. Money printer will go brrrr.
Daily hive :) Very reliable and respected source. Even moodys base their reports on them...
"Going to see a market rebound" IT IS ALREADY AT ALL TIME HIGHS, REBOUND FROM WHAT????
2025 could see big gains.
@@SteveKarrasch I doubt it. Everyone is talking about rate cuts but they won't cut until something breaks and no one will be lining up to overpay for houses. More likely to see a rate hike first.
Get to the bottom of the problem. Money, profit, fk the middle class n power. Its just that simple, the Wealthiest are buying yachts , while the middle -class is complaining about the price of eggs, milk, and bread. Get with the program!!!
The video title is (clickbait) totally contradicted by the speakers in the video.
its likely interest rate not only go down but go up
Desperate life people live in most parts of Canada
You talk about pent up demand but the average household income still can’t afford the average house. So please add what the pent up demand can afford. Tell the entire story and start painting the true full data
they would have been bankrupt by now. if it they have to be .if home owner survived for last two years they can survive more.
I’m variable so I mean what ever man.
@@DTrent-uy1wl 100% I saw the writing on the wall but my broker convinced me that the rates would rebound faster then they did and we would overall pay less. How ever I can and also knew I could afford my property with inflated rates because only a fool buys a house at the ceiling of their budget
I'm 34, my starter home is paid off, my wife and I make 250k together with very secure jobs / pensions.
We are waiting to buy, at least until the next few years where the renewals take their effect on the housing market.
Great job!
Start having kids and stay secure
most people ive spoken to that had renewals at low interest rates foresaw the upcoming high interest rate and in the last 2-3 years, threw all their money at their mortgage. most people i know at least, ended up renewing at higher interest rates, but their monthly remained the same, because they had a much lower mortgage balance.
Good for you and yours. Most people are not that fortunate.
It won't be but its not going to be a nice couple years.
The world is de-dollarizing. Think BRICS. Why does anyone think that Canada's economy will get better? Big Picture matters.
Good luck with your Rubles.
I believe you are a bit premature....consider the peak of the market in 2021 and 2022 where home buyers managed to scrape together 5% and locked into a 5 year fixed for payment security at the bottom of rates.....those people will be renewing in 2026 and 2027....that is when I truly believe it will hit the fan...
And the video points out why that isn't likely to be the case.
Only homes under $500k were bought with 5% down.
Over $1m, have to have 20% down.
Although, one could buy 100% of a home outright with a HELOC, but then those people would already be paying loans at 7-8%.
@@averageperson2177 Yes, but do you know the monthly payments for a 475K mortgage are for someone that could only afford 5% down?... I can assure you 2026, will be a problem and that was just confirmed by the BOC today...
@@SteveKarrasch BOC as of today seems to agree with my argument...
It would be roughly $1000 - $1250 extra per month... pretty sure most people can cover that, especially 3-5 yrs out.
I have two variable mortgages and one fixed that renews next year. Current sitting at 1.59 on just over $500k. I’m expecting to renew in the 4s next year. Lolz
Very few people will default, but time will tell. I personally feel prices will continue upwards, especially over the medium to longer term. Time will tell.
All the best! Have fun!
How toff could tell canadians to feel free to go out and borrow during the largest money printing operation in the history of canada is grounds for dismissal. He isnt up to the job or worse
so lol, the sueeze is indefinite? this fake money stuff has gotta stop
The govt did it
You will own nothing and be happy!
🔥👊🔥🏍⚙️🔨🚜
I'm one of them thanks Trudeau!
Buddy thinks incomes are rising worth anything? lol
I don’t agree, most people who have high mortgages are still locked in with low rates. Maybe some variable and new owners, but still few.
Soooooo you disagree with the title but agree with the video?
Hilarious the sky is falling the sky is falling. No it’s ok chicken little
It's always falling.
maybe in the big city, i live in North bay all is well here houses are 250-500k
🤬🤬
Clearly you are trying to increase views. 35% of Canadians are NOT going to be bankrupt
Welcome to the Channel.
Good video but click-bait title.
The title " Everything will be fine " didn't get many clicks.
135%
Lol
or more
Sounds like nonsense to me, what percentage of Canadians own their own home outright? Roughly about one third, hence to claim that 35% of homeowners will go bankrupt is to claim that fully half of Canadians who have a mortgate will go bankrupt in 2024! Does this make sense to anyone. Could have saved 8 minutes of my life by logically thinking this through, to realize that the title is complete bs clickbait!
This is CZcams, not a place for logic or thinking. Welcome to the channel.
Lol !!!
🤪
I call BULL SHxT!! Get real ~
Which part?
😂😂😂😂 click bait
1st
🏆
3700th. Damn moonlighting is keeping me away from CZcams surfing
Welcome back
Thank Justin Trudeau
No
Clickbait title 👎
Welcome to the Channel 👍
Sorry, but your middle speaker.needs to get his head out of the clouds... ... after ' Doug' Just stated that he ' had it all wrong ', it#!1: Why would we believe his ' warm & fuzzy' now? Is he a liberal?- #2: this Contradicts Your last post
#3: HE obviously has a stable WELL PAYING CAREER, little to No mortgage. #4 : must be on the Canadian senate, where he's hardly in Canada, to understand the job market, idiotic politics etc .
heads of banks really dont know anything.
Click bait
I call it marketing.
Wheres all the crypto pumpers to tell us how bitcoin will solve all our problems?
in the ether?
I think we don't care about ya'll anymore - if you wanna stack fiat and have it be worthless/manipulated by banks and governments go ahead!
Im deeply skeptical of Canada's situation, but this is way over the top. There is plenty of people with rich parents. Haha
I am laughing cause you got what you voted for
Who did I vote for?
This guy is a nut ,he knows nothing, the USA dollar is dying and so will the Canadian dollar, the canadian dollar is going to fall to 50 cents, so how will people afford a home!
🌰
peak prices will be back within 1-2 years. TK is out of his mind saying it will take a decade.
What's the over under?
I'll take the over
The new OFSI regulations and reduced international student and NP immigration targets have effectively put a ceiling on price growth.
@@DTrent-uy1wl You don't think that downtown Vancouver and downtown Toronto property will hit new highs within the next 2 years? Really? These areas didn't even see big pandemic growth. Most saw decline. It's logic man, not insanity. Go look at the charts... it wouldn't take that much to bump Toronto C1 C8 over their peak.
Supply and demand. The demand is spiking
To the moon baby🚀. Everything’s great. No need for concern. Everyone can pay their mortgages. Canada is the land of opportunity. Housing going down will just be a buying opportunity. Once the government gets all those units built every millennial and gen Z will be able to afford a home of course.
God bless Tiff Macklem. God bless Justin Trudeau and Chrystya Freeland. I love Canada. 🇨🇦
Well said comrade
Bros trying to get that social credit high score
Ha renting for life as they own neighborhoods
Keep dreaming lol
😴
If you cant afford it, you dont deserve it.
100%
Just need to afford the monthly payments... ideally with a buffer and a end-date for the debt to be paid off.
Ideally government waste would be cut by 95%, but they’re corrupt and it isn’t happening. Have fun!!
Lame.
Fear mongering as usual
Did you watch the video or just comment on the title?
your click bait headline is pathetic.
Thanks for an equally woeful comment. Now try watching the video.
U will own nothing
I'll be okay.
Immigrants are smart because 3 or 4 even 7 people moved together in one house and paying 500 a month 😅. Arabs indians and chinese filipinos live in family and have lots of babies