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CP24 SPECIAL: What to expect in the housing market in 2023
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- čas přidán 8. 01. 2023
- Hot Property aims to enlighten homeowners or potential buyers on the many facets of making a big purchase, or maintaining one.
Here is the year end special of 2022.
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I'm a trader. Interest rates are close to their peak but bond markets are not signalling any cuts anytime soon. In fact, CPI number in the US are in a couple days and I expect them to come in strong which means we could easily see another 0.5% central bank rate increase. The central banks learned their lessons back in the 70s and 80s when they tried to cut rates too quickly. Inflation came roaring back and they had to hike again aggressively. Rates won't be dropping anytime soon and that's why real estate volumes are low. Nobody can afford these unreasonable prices.
Technically on a chart, real estate prices have just hit a temporary support level in the fall. But there's no volume which means buyers expect more downward pressure. In fact, chart wise the real support is down at 2018 prices, and even then, from a fundamentals standpoint, mortgages would still cost a lot more because of the interest rates.
2023 is the year mortgages continue to roll over into the higher rates and prices will continue to fall as buying remains weak. It takes a long time for these rate hikes to impact real estate and rents. Interest rates will remain high going into 2024 as well.
For mortgage costs to really properly adjust prices need to fall another 20-25% from here to compensate for the interest rates. We are not near the end of price adjustment.
"Real estate agents that have financial incentive in the matter tell us to throw our money into their pockets" - News
Exactly. What a shill show
Lol sheep. We make just as much during the bad times that we do the good times. People buy and sell regardless. SMH 🤦🏻♂️
BINGO! Real estate agents will ALWAYS say it's a good time to buy. They have no conscience if their clients lose money. Every economist is saying that we're headed toward the mother of all crashes. A lot of inventory hasn't moved in months despite getting relisted several times with a new lower price. I think a lot of speculators and pre-construction home buyers will become bag holders and forced to sell their properties like the protesters in Brampton. I'm planning on selling/buying in 2024/25 when HOPEFULLY the dust has settled. I bought my home after the 2008 recession, paid it off, and plan on buying again after this one.
@Julian Pucci 🤡 don't pretend like yall don't do that, every agent tries to sell a positive investment story. The math disagrees with you as far as how much people buy during a down market, home sales are stagnant compared to 2021.
@@goylanddefree80 I love you expert insight, please give me more
I basically sat through an infomercial, everyone there was trying to sell something
What utter BS. Yea his is paid ad by real estate agents
Exactly
100% blood $$$uckers for a ommission
Corrupt Market.
To have any kind of a mortgage right now is extremely foolish, and even worse if considering buying something unless you can buy outright which isn’t realistic to the working middle class.
That being said, I suggest people get over squabbling family affairs and put their differences aside and put equities together and buy something outright.
It’s the only way to prevent a foreclosure when-not IF but WHEN they lock down again, and this time the real deal. You might be surprised at what your options could be if having a close network of family or friend’s to work with...
It’s basically takes so much risk off of everyone.
And lastly, most don’t even realize what is actually happening, and you need to ask yourself how you can make any sort of life decisions, if you don’t know the reality of what’s to come...
God Bless 💔💙🙏🏼
They highly likely never took general science stream or mathematics back in high school.
20% interest when house prices were 200K and compare to now where we have almost 7% for a 1.4 M.
They are typical sales people door to
Door. Need education and switch career.
Stop misleading consumers via media please.
A bit late for a "year end" special....
Don't Beleive - Realtors, Agents, Mortgages Officer, Banks = Clean / Mess Up all your money $$$$
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in June 2022
Liar
Another clown show...
I clearly remember Al saying things like get in the market or youll be priced out, back in February. You didn't know jack AL and you still dont
Ofcourse he doesnt , he knows jack about economy , his a "salesman" thats it.
Shills shill
@@gmw3083 shills shills ? Go back to sleep kid
@@vmtl4659 think about it sleepy. Who would I be calling a shill? Not you or OP, but Al.
@@gmw3083 sorry friend !
Housing crash 💥 imminent in Canada 🇨🇦
,I love they condo s it.spacious.and.nice
vupoint looks nice
Nothing compared to 89, just 10x the leverage 😂
Thanks for showing positiveness for 23
The wage growth in recent years is really phenomenal, this certainly would help supporting the housing market despite higher interest rate. Lots of buyers are ready to jump in. We may see a record high this year.
Real wage growth is negative
Housing to the moon pretty much 🎉
Another fake show
what goes up must come down.
this is kind of laughably bad you can tell they're so bias.... and the comment we'll figure out a way around the stress test to help qualify!?!?!??! really that woman should be investigated she doesnt have any of our best interests at mind shes just trying to make money
lol! this guys talking nonsense. Is like asking a car sales person if should I buy a car with no money and no job!
Zazur phone 📱
Fade these clowns
You want to looking ahead ! Stabilized, Ya like that fancy suit. Any racing stripes in your shorts ?
my grandma sold herr tiny bungalow to some suckers for over a million dollars
😂😂
Good for her